Industrial Control Transformers MarketIndustrial Control Transformers Market Size, Share, Revenue And Growth Rate Till 2026 | Fortune Business Insights

(The Express Wire via Comtex)

Top Players in Industrial Control Transformers Market are MCI Transformers, Broadman Transformers, Rockwell Automation, Hubbell, Eaton, ABB, Siemens AG, Schneider Electric, Emerson Electric Co., Electric Hammond Power Solutions, Dongan Electric Manufacturing Co., SNC Manufacturing Co., Ltd, Foster Transformer Company, Toshiba, Kotsons Pvt., Ltd, and Crompton Graves Ltd

Robust rise in renewable energy capacity in the world will be a crucial driver for expanding the global industrial control transformers market size in the forecast period. The reality of global warming is gaining worldwide acceptance and ority of countries are making concerted efforts to bring down their emission levels. As a result, renewable energy sources are being increasingly promoted and adopted across the globe. In fact, there has been a steady rise in energy generation through renewables. According to the International Renewable Energy Agency (IRENA), renewable energy capacity has been growing by 7.9% annually since 2010 and is getting fueled by the rising number of solar and wind power installations. The IRENA states that close to a third of the energy generated in the world is from renewable sources. Industrial control transformers are slated to play a critical role in fostering the development of clean energy sources as they facilitate highly efficient voltage regulation. This will boost the industrial control transformer market growth till 2026.

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In its report, titled “Industrial Control Transformers Market Size, Share and Global Trend By Phase (Single, Three), By Power Rating (25-500 VA, 500-1000 VA, 1000-1500 VA, >1500 VA), By End-User (Power Generation, Oil and Gas, Chemical, Metal and Mining) and Geography Forecast till 2026”, Fortune Business Insights shares a comprehensive analysis of the different factors, trends, and dynamics that will shape the market in the stipulated period. Moreover, the report also contains a detailed evaluation of a vast array of companies that are operating in the market and their position with regard to the overall industry outlook.

Fortune Business Insights profiles some of the key players in this market:

  • Eaton
  • Foster Transformer Company
  • Crompton Greaves Ltd.
  • MCI Transformers
  • ABB
  • Rockwell Automation
  • Emerson Electric Co.
  • Siemens AG
  • Toshiba
  • Broadman Transformers
  • Hammond Power Solutions

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Escalating Global Energy Consumption to Accelerate Market Growth

Energy consumption all over the world is on the rise, especially in the developing countries of Asia-Pacific that is undergoing a phase of rapid urbanization and industrialization. This has led to a staggering upswing in the global demand for electricity. According to the US Energy Information Administration (EIA), between 2015 and 2040, world energy consumption is likely to increase by 28%. The EIA reports in its International Energy Outlook 2017 that China and India will account for nearly 60% of the overall increase in global energy consumption till 2040. This rise, fuelled by strong economic growth, will provide upward thrust to the demand for industrial control transformers, as per industrial control transformers market forecast.

North America to Lead the Pack; Latin America to Offer Lucrative Prospects

North America is projected to dominate the global industrial control transformers market share until 2026. This is mainly because of the high rate of technological progress and the establishment of remote electricity networks in the region. Stringent emission norms and installation of smart transformer units will drive the market in Europe. In Asia-Pacific, rapid economic development, increasing incomes, and ever-increasing energy demand from India and China will mainly fuel the market. Latin America will present exciting growth prospects and business opportunities due to strong economic growth in Brazil and Argentina. Greater accessibility to credit and government-backed investment projects will further spur the industrial control transformers market in the region.

New Product Offerings by Prominent Players to Intensify Competition

Major players are increasing their investment in innovation to bring out novel products in a bid to diversify their product offerings. Besides this, many companies are also entering into strategic collaborations with other competitors and organizations to expand their reach in this market. These are touted to emerge as the prominent factors governing the industrial control transformers market trends.

Some of the key industry developments include:

  • March 2019:ABB unveiled its next-generation power transformer called Ability Power Transformer (APT) which is equipped with an integrated digital intelligence and regulation capabilities.
  • March 2019:Siemens AG and China-based United Heavy-duty Gas Turbine Company signed a technology exchange agreement on heavy-duty gas turbines.

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Major Table of Content ForIndustrial Control TransformersMarket:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Industrial Control Transformers Market Analysis, Insights and Forecast, 2026
  6. North America Industrial Control Transformers Market Analysis, Insights and Forecast,2026
  7. Europe Industrial Control Transformers Market Analysis, Insights and Forecast, 2026
  8. Asia Pacific Industrial Control Transformers Market Analysis, Insights and Forecast, 2026
  9. The Middle East and Africa Industrial Control Transformers Market Analysis, Insights and Forecast, 2026
  10. Latin America Industrial Control Transformers Market Analysis, Insights and Forecast, 2026
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

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