The global oil filled transformers market is anticipated to grow exponentially on account of various strategies adopted by market players. For instance, a comprehensive Strategic Partnership Framework Agreement (SPFA) was signed between State Power Investment Corporation Limited (SIPC) and Siemens AG in March 2019. This agreement is a technology collaboration between China United Heavy-Duty Gas Turbine Company (UGTC) and Siemens AG imposed on heavy-duty gas turbines. Such innovations are anticipated to create lucrative growth opportunities, says Fortune Business Insights in their recent report, titled as “Oil Filled Transformers Market Size, Share and Global Trend By Product (Distribution Transformers, Power Transformers, Instrument Transformers, Others), By Application (Residential & Commercial, Industrial, Utility), By Installation (Outdoor, Indoor), By Phase (Single, Three), and Geography Forecast till 2026.” The report provides a detailed analysis of the global market with prime emphasis on the growth drivers, restraints, trends and opportunities. Information provided in the report is extracted from primary and secondary research methods. The report is available for sale on Fortune Business Insights website.
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The report lists various companies functioning in the market. These include:
- ABB Ltd.
- Siemens AG
- Voltamp Transformers Ltd.
- Jinpan International USA Ltd
- Virginia Transformer Corp
- Crompton Graves Ltd.
- Hammond Power Solutions Inc.
- CG Power and Industrial Solutions Ltd.
- Eaton Corporation PLC.
- Schneider Electric SE
- Bharat Heavy Electricals Ltd.
- Tbea Transformer Industrial Group
- Kotsons Pvt., Ltd
- Kirloskar Electric
Key Market Driver – Increase in demand for electricity
Key Market Restraint – High cost of product
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Rise in Expansion of High Voltage Lines to Suffice to Electrical Needs to Propel Growth
The insulation properties of transformer oil are a major factor in promoting the growth of the oil-filled transformers market since this oil has superior electric-insulation properties. Due to rapid industrialization, there is more demand for electricity. The rising demand for electricity across the globe is a major factor boosting the global market. The rapid installation of utility-based HVDC (high voltage direct current) infrastructure, coupled with the rise in the expansion of high voltage lines for providing enough electricity especially in emerging nations is anticipated to promote the growth of the oil filled transformers market in the coming years.
However, the market may face rough waters on the basis of high cost of product. In addition, the lack of investment in grid stability from governments and the number of losses already faced by the market earlier may repel investors from further investing in the market. This may further cause hindrance to the global market growth during the forecast period.
Asia Pacific to Dominate Market with Increasing Population and Rising Demand for Electricity
As per the report, the oil filled transformer market in North America is anticipated to grow at a significant rate because of the ongoing technological improvements. This, coupled with, the rise in expenditure for developing long-distance electricity networks across the region is also anticipated to promote the growth of the market in the forecast period. On the other hand, the extensive deployment of smart transformer units, coupled with the ongoing regulatory initiatives to cater to the increasing demand for energy will also create growth opportunities for the Europe market in the coming years.
Moreover, the market in Asia Pacific is prognosticated to emerge as the dominant region because of the rising population, improving lifestyle and the increase energy consumption in nations such as India and China.
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1. By Distribution Transformers
- Power Transformers
- Instrument Transformers
2. By Application
- Residential & Commercial
3. By Installation
4. By Phase
5. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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Major Table of Content For Oil filled Transformers Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Oil filled Transformers Market Analysis, Insights and Forecast, 2026
- North America Oil filled Transformers Market Analysis, Insights and Forecast, 2026
- Europe Oil filled Transformers Market Analysis, Insights and Forecast, 2026
- Asia Pacific Oil filled Transformers Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Oil filled Transformers Market Analysis, Insights and Forecast, 2026
- Latin America Oil filled Transformers Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
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