In terms of revenue, the Global Industrial Control Transformer Market is expected to reach USD 1123.6 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.60% from 2022 to 2028.
The wide-ranging applicability of these transformers in the supply of electricity, the growing usage of control transformers in numerous industries, and the increased power generation capacity across the world are anticipated to enhance the growth of the Industrial Control Transformer Market during the forecast period.
Key Highlights from Report:
· The Three Phases category segment holds the largest share of the Industrial Control Transformer market in 2021. The Three Phases industrial compressors are used in multiple sectors to drive various general machinery, including compressors, pumps, crushers, cutting machine tools, and other mechanical equipment.
· The Metal & Mining sector is accounted to have significant growth in the Industrial Control Transformer Market in 2021, owing to the increased growth in industrialization, manufacturing, and infrastructure operations.
· Asia Pacific is expected to mention maximum growth of the Industrial Control Transformer Market during the forecast period. This surge is accounted owing to the large expenditures on electricity generation facilities and public infrastructure projects.
Increasing energy consumption also increases the energy demand across the globe. In addition, the total annual energy investment is anticipated to reach USD 5 trillion by 2030. This may add an extra 0.4 percent per year to the annual global GDP growth, based on the joint analysis with the International Monetary Fund. Moreover, with expected investments in clean energy & energy infrastructure to triple by the year 2030, this rise will bring significant economic benefits as the world emerges from the COVID-19 emergency. Thus, increasing investment in green energy production and increasing Research and Development (R&D) expenditure are accelerating the growth of the Industrial Control Transformer Market.
Asia Pacific accounted to hold the largest growth of the Industrial Control Transformer Market in 2021. This region has a global hub for manufacturing activities. In addition, the need for power generation is rising owing to the increasing population in various emerging countries in the region. Furthermore, the heavy industrialization rates in emerging countries like India and China have also augmented the growth of the Industrial Control Transformer Market in this region. Moreover, with the increasing power generation, the chemical industry across India and China is fuelling the regional market expansion.
The Global Industrial Control Transformer Market is Segmented as follows:
- Single Phase
- Three Phase
- Power Rating
- 25-500 VA
- 500-1,000 VA
- 1,000-1,500 VA
- Above 1,500 VA
- Primary Voltage
- Up to 120 V
- 121-240 V
- Above 240 V
- 50 Hz
- 60 Hz
- End User
- Power Generation
- Oil & Gas
- Metal & Mining
- Other Users
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
A list of the Key Players of the Global Industrial Control Transformer Market is:
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 Global Industrial Control Transformer Market Scope can be Tabulated as below:
|Market Size Provided for Years||2017 - 2030|
|Historic Years||2017 - 2021|
|Forecast Years||2023 - 2030|
|Regions & Counties Covered||
|Report Coverage||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 impact analysis|