Special Transformer Market, by Product Type (Electric Arc Furnace Transformer, Rectifier Transformer, Capacitive Transformer, and Phase Shifting Transformer), by Application (Rectification Equipment, Welding Equipment, Electric Furnace Power Supply, and Current Transformer), by End User (Residential, Commercial, and Industries), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018–2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Special transformers are used for uplifting the voltage from the network to the application level so that current can be maximized. Range of special transformers includes regulating and rectifier transformers, AC arc furnace transformers, series reactors for AC arc furnaces, DC arc furnace transformers, and large drive/converter transformers. These transformers are used in various industries such as chemical, automotive, oil & gas industry, steel industries, and others.

Increasing demand for high power required for various production processes across industries is a major factor driving growth of the special transformer market 

Major factor attributed to growth of the special transformer market is increasing demand for high power in industries such as oil & gas, metal & mining, chemical, steel, and others.  For instance, according to the World Oil & Gas review analysis, the consumption of gas in the 2014 was 3,457.06 billion cubic meter and 3,515.56 billion cubic meter in 2015 worldwide. Similarly, the consumption of oil in 2014 was 92, 869 barrel and it increased to 94,709 barrel in 2015 worldwide. These industries require high current voltage during the production process .Special transformer intakes current with low voltage and converts it to high voltage with very low loss of energy. Such benefits result in increasing demand for special transformer in various industries, which in turn contributes to growth of the special transformer market over the forecast period.

Global Special Transformer Market: Key Trends

Growth of the steel industry is one of the major factor contributing to increasing demand for special transformers. For instance, according to a report published by World Steel Organization, December 2017, 1516.0 million tons of steel was produced in 2016 and it increased to 1587.4 million tons in 2017 worldwide. The steel industry uses special transformers that facilitate appropriate supply of current across a wide range of applications, either via on-load or off-load regulation, resulting in process optimization.

Global Special Transformer Market: Restraint

The materials used in special transformers are copper, steel, and aluminium. Increase in prices of raw material inadvertently increases the price of special transformers. This in turn affects growth of the special transformer market over the forecast period. For instance, according to the Coherent Market Insights’ analysis, the price of the steel was US$ 522.94 per metric ton in 2016 and it increased to US$ 618.86 metric ton in 2017.

Global Special Transformer Market: Segment Trends

Among product type, the phase shifting transformer is expected to grow with highest CAGR over the forecast period. Phase-Shifting Transformers (PST) help in protection of lines and transformers from thermal overload, which further helps in improving the stability of transmission system. Furthermore, PST controls flow of power between different networks, for parallel long distance overhead-lines or for parallel cables. Such characteristics of PST optimize energy loss in the electrical system.

Global Special Transformer Market: Regional Insights

The special transformer market in Asia Pacific accounted for the largest market share in 2017 and expected to remain largest over the forecast period. The factor attributed the growth of the market is growing demand for oil & gas in emerging economies  such as India and China further leads to increasing number of oil and gas plants in the region. This factor is expected to further increase demand for special transformer in Asia Pacific. For instance, according to India Brand Equity Foundation’s (IBEF) analysis, consumption of oil in India was 3.85 million barrels per day (mbpd) in 2014 and it increased to 4.0 mbpd in 2015. Similarly, the consumption of gas in India was 54.20 billion cubic meter (bcm) in 2017 and is expected to reach 143.08 bcm in 2030.  

Global Special Transformer: Competitive Landscape

Major players operating in the global special transformer include, Mitsubishi Electric Corporation, Sunten Electric Equipment Co., Ltd., Siemens Ltd., Alstom, Schneider Electric, ABB, Wolong Electric Group Co.,Ltd., Toshiba India Pvt. Ltd., TBEA India, Baoding Tianwei Group, Wuzhou Transformer Co., Ltd., and Jinan XD Special Transformer Co.,Ltd.

The market for special transformers is highly competitive, owing to which key players are focused on adopting collaboration, partnership, merger, and acquisition strategies in order to strengthen their foothold in the market. For instance, in April 2016, Siemens Limited partnered with NTPC Limited, a key company engaged in the business of generation of electricity in India. The objective of the partnership is to install special transformers in super power thermal stations in southern India.

Global Special Transformer Market: Taxonomy

By Product Type

  • Electric Furnace Transformer
  • Rectifier Transformer
  • Capacitive Transformer
  • Phase Shifting Transformer

By Applications

  • Rectification Equipment
  • Welding Equipment
  • Electric Furnace Power Supply
  • Current Transformer

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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