Industrial Control Transformers 2018-2023: Global Market Analysis by Phase, Power Rating, End-User, and Region
DUBLIN, May 21, 2018 /PRNewswire/ --
The "Industrial Control Transformer Market by Phase (Single and Three), Power Rating (25-500 VA, 500-1,000 VA, 1,000-1,500 VA, and > 1,500 VA), End-User (Power Generation, Oil & Gas, Chemical, Metal & Mining), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The industrial control transformer market is projected to grow from USD 809.2 million in 2018 to USD 1,039.8 million by 2023, at a CAGR of 5.14%, from 2018 to 2023.
Increased usage of industrial control transformers across major industries, booming power sector and augmented power generation capacities worldwide, and need to reduce equipment failure caused by frequent voltage spikes are driving the industrial control transformer market across the world.
On the contrary, stagnant growth of the oil & gas industry; a slowdown in the mining industry in Asia Pacific, South America, and Africa; dependency of other devices for voltage regulation, and gray market providing low-quality & cheap substitute products could hinder the market growth to certain extent.
As per the World Steel Organization statistics, the steel output grew from 1,560 million tons in 2012 to 1,630 million tons in 2016. Industrial control transformers in steel manufacturing regulate voltage in various processes such as a furnace for heating the steel and for cooling the rolled steel. In the mining industry, industrial control transformers have a wide application in compressors, motors, mills, drills, and cranes, which are used for machines that require a relatively large amount of force.
Asia Pacific is the fastest growing industrial control transformer market during the forecast period due to the need for power infrastructure construction, mostly in China and India along with a rising concern for safety in electrical equipment, the need for industrial control transformers has increased considerably to prevent the equipment from any accidents.
The leading players in the industrial control transformer market are ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider (France), GE (US), Hubbell (US), Emerson (US), and Rockwell (US).
Market Dynamics
Drivers
- Need to Reduce Equipment Failure Caused by Frequent Voltage Spikes
- Booming Power Sector and Augmented Power Generation Capacities Worldwide
- Increased Usage of Industrial Control Transformers Across Major Industries
Restraints
- Stagnant Growth of the Oil & Gas Industry
- Slowdown in the Mining Industry in Asia Pacific, South America, and Africa
Opportunities
- Changing the Face of the Middle East Manufacturing Industry
- Aging Power Infrastructure
- Growing Robotics Technology
Challenges
- Dependent on Other Devices for Voltage Regulation
- Gray Market Providing Low-Quality & Inexpensive Products
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology
2.1 Introduction
2.2 Research Data
2.3 Market Size Estimation
2.4 Market Breakdown & Data Triangulation
2.5 Research Limitations
2.6 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Industrial Control Transformer Market During the Forecast Period
4.2 Industrial Control Transformer Market, By Country
4.3 Asia Pacific Industrial Control Transformer Market, By End-User & Country
4.4 Industrial Control Transformer Market, By Phase
4.5 Industrial Control Transformer Market, By Power Rating
4.6 Industrial Control Transformer Market, By End-User
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.4 Restraints
5.5 Opportunities
5.6 Challenges
6 Industrial Control Transformer Market, By Power Rating
6.1 Introduction
6.2 25-500 VA
6.3 500-1,000 VA
6.4 1,000-1,500 VA
6.5 Above 1,500 VA
7 Industrial Control Transformer Market, By Phase
7.1 Introduction
7.2 Three-Phase
7.3 Single-Phase
8 Industrial Control Transformer Market, By End-User
8.1 Introduction
8.2 Power Generation
8.3 Oil & Gas
8.4 Chemical
8.5 Metal & Mining
8.6 Others
9 Industrial Control Transformer Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.3 North America
9.4 Europe
9.5 Middle East & Africa
9.6 South America
10 Competitive Landscape
10.1 Overview
10.2 Ranking of Players
10.3 Competitive Scenario
11 Company Profiles
11.1 Benchmarking
11.2 ABB
11.3 Eaton
11.4 Siemens
11.5 GE
11.6 Schneider Electric
11.7 Hubbell
11.8 Emerson Electric Co.
11.9 Rockwell Automation
11.10 Electric Hammond Power Solutions (HPS)
11.11 Broadman Transformers
11.12 Dongan Electric Manufacturing Co.
11.13 MCI Transformers
For more information about this report visit https://www.researchandmarkets.com/research/mpmkxz/industrial?w=5
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