After the popularization of the smart grid technology and the deployment of such grids all over the world, there has been an upsurge in the demand for step up/down transformers.
Step up/down transformers being one of the fundamental part of the electrification systems has found their new role in the globally popular grid network which is increasing its demand and bringing new growth opportunity for step up/down transformers.
Some of the drivers for the step up/down transformers market are, recent focus on power and industrial markets and continuous investments in the same.
Another factor which is fueling the market growth in Step up/down transformers is the deployment of the smart grids globally, which needs these step up/down transformers for the distribution process and the renewable capacity addition and replacements.
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Step up/down transformers Market: Regional Overview
On the basis of geography, step up/down transformers market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, and Middle East & Africa. Among various regions, in Asia, China and India are seen to be the largest markets and Indonesia is seen to be an emerging market with 500 generation and transmission projects lined up till 2025, in the Step up/down transformers market.
The MEA region is experiencing several movements for the step up/down transformers market with Qatar and UAE having events like World Cup and Expo 2020 in Dubai. The African countries are getting a lot of investments due to their delayed start in the transmission projects from China and other regions. The North America market for the step up/ down market is seen to be leading followed by Western Europe and China, with most significant European countries being Germany and U.K. among others.
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Step up/down transformers Market: Segmentation
The step up/down transformers market can be segmented on the basis of rating, output, cooling type, pricing, application and region.
On the basis of rating, the step up/down transformers market can be divided into;
On the basis of output, the step up/down transformers market can be segmented into;
On the basis of cooling type, the step up/down transformers market can be segmented into;
- Oil Cooled
- Air Cooled
On the basis of pricing, the step up/down transformers market can be segmented into;
- High Priced
- Medium Priced
- Low Priced
On the basis of application, the step up/down transformers market can be segmented into;
- Power Transformers
- Distribution transformers
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Step up/down transformers Market: Key Players
Some of the key players of Step up/down transformers market are: ABB, Siemens, General Electric, Schneider Electric, CG Power and Industrial Solution Limited, Hammond Power Solutions Inc., Mitsubishi Electric Power Products Inc., SPX Transformer Solutions Inc., Eaton, WEG, Fuji Electric, Hyosung Power & Industrial Systems Performance Group, Kirloskar Electric, MGM Transformer Company, Prima Transformers, Synergy Transformers, Virginia Transformer, and Others.
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