Industrial Control Transformer Market
Industrial Control Transformer Market - Global Industry Assessment & Forecast
- By Phase Single Phase, Three Phase
- By Power Rating 25-500 VA, 500-1,000 VA, 1,000-1,500 VA, Above 1,500 VA
- By Primary Voltage Up to 120 V, 121-240 V, Above 240 V
- By Frequency 50 Hz, 60 Hz
- By End User Power Generation, Oil & Gas, Chemical, Metal & Mining, Other Users
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||USD 848.1 Million|
|Revenue 2028:||USD 1123.6 Million|
|Revenue CAGR (2022 - 2028):||4.8%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
The Global Industrial Control Transformer Market was valued USD 848.1 Million in the year 2021 and is anticipated to reach a value of USD 1123.6 Million by the year 2028. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.8% over the forecast period.
Industrial control transformers supply machine tool control devices with stepped-down voltages to isolate control circuits from all lighting and power circuits and enable the use of grounded or ungrounded circuits. Moreover, industrial control transformers are made to withstand the substantial inrush current that relays, solenoids, starters, and contractors generate, preventing technical hiccups and short circuits. Industrial control transformers deliver a high level of secondary voltage stability quickly, which is anticipated to boost market growth over the anticipated period. For the control devices to operate reliably and safely, an Industrial Control Transformer must be used. The three-phase sector is expected to be more effective in industrial applications than the single-phase segment throughout the forecast period, which will likely lead to growth in the market for industrial controller transformers.
Industrial Control Transformer Market Size, 2021 To 2028 (USD Million)
Additionally, the expanding use of industrial control transformers in important sectors and the thriving power sector are the main factors driving the market for industrial controller transformers. The expansion of this market is also fueled by increased power generation capacities around the globe, the requirement to lessen equipment failure brought on by frequent voltage spikes, and the increased adoption of industrial control transformers across industries. Although numerous devices that employ these transformers, such as motors, contactors, solenoids, relays, and others, may be damaged if industrial controller transformers fail due to voltage spikes and lightning transients.
The Industrial Control Transformer market is segmented based on Phase, Power Rating, Primary Voltage, Frequency, End User, and Region. Based on the Phase segment, the market is further segmented into Single Phase and Three Phases. Furthermore, based on the Power Rating, the market is segmented into 25-500 VA, 500-1,000 VA, 1,000-1,500 VA, and Above 1,500 VA. In addition, based on the Primary Voltage category, the market is further segmented into Up to 120 V, 121-240 V, and Above 240 V. Furthermore, based on the Frequency segment, the market is further segmented into 50 Hz and 60 Hz. Finally, the market is segmented as Oil & Gas, Chemical, Metal & Mining, and others based on the End-User segment.
Below tree is interactive. You can click the nodes to get more information.
Based on Phase:
The Three-Phase category dominated the market since it was more effective in industrial applications. In the oil, chemical, and power industries, as well as other industrial and mining sectors, three-phase industrial compressors are used to drive various general machinery, including compressors, pumps, crushers, cutting machine tools, and other mechanical equipment. Increased use of three-phase industrial control transformers in large industrial applications is credited with a significant market share. It can operate with great power with ease. Compared to a single phase, it uses less copper and aluminum to transfer a given amount of electricity.
Based on End-User:
The Metal & Mining sector dominated the Industrial Control Transformer market in past and is continued to do so in the forecast period due to increased growth in industrialization, manufacturing, and infrastructure operations. These transformers are utilized in rolling mills, hoists, blowers, and processing lines in the metals and mining industries.
Asia Pacific is projected to Grow at the Highest Compound Annual Growth Rate (CAGR) during the Forecast Period
Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The Asia Pacific is considered a market with solid growth potential regionally because of the area's recent expenditures on electricity generation facilities and public infrastructure projects. In addition, the growing nations of the Asia Pacific area, including China, India, and ASEAN, are rapidly industrializing. Therefore, the need for control transformers in this region is being fueled by upgrading the power and distribution infrastructure, the standby of old equipment, the expansion of heavy industries, and the use of renewable energy. Additionally, it is anticipated that the transformers market would rise favorably throughout the projection period due to the growing requirement to expand and modernize the current transmission and distribution infrastructure to support the rising demand for energy.
The key players in the Global Industrial Control Transformer Market include- ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland), General Electric (US), Hubbell (US), Rockwell Automation Inc. (US), Broadman Transformers (UK), Dogan Electric Company (US), MCI Transformer Corporation (US), SNC Manufacturing Co. Inc. (US), Foster Transformer Company (US), TEMCO Industrial (US), Controlled Magnetics Inc. (US), Micron (US), Grant Transformers (Australia), Troytrans (Spain), RECO Transformers Pvt. Ltd. (India), Trutech Products (India), and others.
Segmentation of the Global Industrial Control Transformer Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
The global Industrial Control Transformer valued at USD 848.1 Million in 2020 and is expected to reach USD 1123.6 Million in 2028 growing at a CAGR of 4.8%.
The prominent players in the market are ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland), General Electric (US), Hubbell (US), Rockwell Automation Inc. (US), Broadman Transformers (UK), Dogan Electric Company (US), MCI Transformer Corporation (US), SNC Manufacturing Co. Inc. (US), Foster Transformer Company (US), TEMCO Industrial (US), Controlled Magnetics Inc. (US), Micron (US), Grant Transformers (Australia), Troytrans (Spain), RECO Transformers Pvt. Ltd. (India), Trutech Products (India).
The market is project to grow at a CAGR of 4.8% between 2021 and 2028.
The driving factors of the Industrial Control Transformer include
- Rise in energy consumption across industries
Asia Pacific was the leading regional segment of the Industrial Control Transformer in 2020.