The transformers market for renewable energy value is anticipated to grow by USD 2.96 billion, progressing at a CAGR of 4.42% from 2020 to 2025 as per the latest report by Technavio.
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Market Dynamics
Factors such as the expansion of renewable power generation capacity, the shift in focus of government bodies toward renewable energy, and the modernization of existing transformers will drive the growth of the Transformers Market For Renewable Energy. However, intermittency in solar energy might hamper market growth. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge. This transformers market analysis report for renewable energy also provides detailed information on other upcoming trends that will have a far-reaching effect on the market growth.
Company Profiles
The transformers market for renewable energy is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Some of the companies covered in this report are Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., DAIHEN Corp., Eaton Corp. Plc, ENERCON GmbH, General Electric Co., Hitachi Ltd., Schneider Electric SE, Siemens AG, and STC Inc., etc.
Few Companies with Key Offerings
- Bharat Heavy Electricals Ltd. - The company offers 500 MVA 400/220/33kV autotransformers.
- CG Power and Industrial Solutions Ltd. - The company offers an extensive range of distribution transformers to meet the requirements of power distribution, wind farm energy, utilities, and industries.
- DAIHEN Corp. - The company offers Top Runner Program Standard Oil-immersed Transformer, Top Runner Program Standard Cast Resin Transformer, and Solar Trans Series: Specialized Transformers for Solar farm.
- Eaton Corp. Plc - The company offers Envirotran solar and energy storage three-phase pad-mounted transformers that are designed for solar photovoltaic and energy storage medium-voltage applications.
- ENERCON GmbH - The company offers wind energy converters that are equipped with intelligent grid management.
Competitive Analysis
The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Market Segmentation
- By Application, the market is classified into solar PV and wind farm.
- By Geography, the market is classified as APAC, Europe, North America, South America, and MEA.
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Transformers Market For Renewable Energy Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.42% |
Market growth 2021-2025 |
USD 2.96 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.93 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 72% |
Key consumer countries |
China, US, India, Japan, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., DAIHEN Corp., Eaton Corp. Plc, ENERCON GmbH, General Electric Co., Hitachi Ltd., Schneider Electric SE, Siemens AG, and STC Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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