According to the new market research report “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″, published by MarketsandMarkets™, the global industrial control transformer market is expected to grow at a CAGR of 5.14%, from 2018 to 2023, to reach a market size of USD 1,039.8 million by 2023. The factors driving the market include 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.
The industrial control transformer market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the industrial control transformer industry include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider (France), GE (US), Hubbell (US), Emerson (US), and Rockwell (US).
Browse and in-depth TOC on “Industrial Control Transformer Market”
62 – Tables
36 – Figures
127 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=96246259
The industrial control transformer market has been segmented on the basis of phase into single-phase and three-phase. The three-phase segment is estimated to grow at the highest CAGR during the forecast period. The three-phase industrial control transformer market is driven by technical factors such as high mechanical resistance and better efficiency in industrial applications. Three-phase industrial control transformers are mostly used in heavy industrial applications as they can easily carry high power for the operations. Also, the three-phase power transmission requires less copper and aluminum, as compared to single-phase, to transfer a certain amount of power. Thus, it is the most economical way of power transmission.
On the basis of power rating, the demand for above 1,500 VA segment is expected to grow at the highest rate from 2018 to 2023. These industrial control transformers have power ratings of above 1,500 VA and find application mostly in heavy industries, such as oil & gas, metal & mining, and power generation, for voltage regulation which is necessary for heavy machinery.
Request Sample Pages of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=96246259
Based on region, the industrial control transformer market in Asia Pacific is projected to grow at the highest rate followed by North America and Europe. China accounted for the maximum share in the Asian region in 2017. Asia Pacific is the most populated region in the world and consequently witnesses a high demand for electricity. Industrialization and infrastructural developments in China and India and growing GDP and investment in this region are likely to boost the demand for industrial control transformers in the region.
Please Explore Relevant Report:
Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region – Global Forecast to 2022
Instrument Transformers Market by Type (Current, Potential, and Combined Instrument Transformers), Enclosure Type (Indoor and Outdoor), Dielectric Medium (Solid, Liquid, and SF6 Gas), Voltage, Application, End-User, and Region – Global Forecast to 2022
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Shelly Singh
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Address:630 Dundee Road Suite 430
Country: United States