DUBLIN--(BUSINESS WIRE )--The "Low Power Transformers Global Market Report 2022, By Product Type, By Cooling Method, By Applications" report has been added to ResearchAndMarkets.com's offering.
The global low power transformers market is expected to grow from $42.07 billion in 2021 to $53.65 billion in 2022 at a compound annual growth rate (CAGR) of 27.5%. The market is expected to reach $130.23 billion in 2026 at a CAGR of 24.8%.
Major players in the low power transformers market are Eaton, Wurth Elektronik, Analog Devices, RITZ Instrument Transformers, Bourns, Osram, Schneider Electric, Rockwell Automation, Dechang Electronics, and Leviton.
The low power transformers market consists of sales of low power transformers. A low power transformer is a static device that works on the principles of mutual induction to transform power from one circuit to another circuit without changing frequency. Low power transformers manufacturing establishments manufacture power transformers with ratings of 100 MVA to 500 MVA.
The main types of products in low power transformers are split-core and solid-core. Split-core current transformers are intended for use in semi-permanent systems. They have a transformer with one of the cores that may be extended or moved around the conductor and then secured with a latch or other type of flange. The cooling methods are oil cooled and air cooled. The different applications include power plants, factories, others.
Asia Pacific is the largest region in the low power transformers market in 2021. Western Europe is the second-largest region in the low power transformers market. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The low power transformers market was mainly driven by rapid growth in emerging markets. Emerging markets growth was aided by rising disposable income, a stable political environment, and increasing foreign investments in these countries. For instance, according to a report by the IMF, emerging markets and developing economies together registered a growth of 4.7%. Thus, strong economic growth boosted the demand for electrical products thereby driving the market for low-power transformers.
The transformer manufacturing market is moving towards the evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply.
They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. Companies should consider investing in technologies to produce smart transformers for commercial establishments.
2. Low Power Transformers Market Characteristics
3. Low Power Transformers Market Size And Growth
3.1. Global Low Power Transformers Historic Market, 2015 - 2019, $ Billion
3.2. Global Low Power Transformers Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
4. Low Power Transformers Market Segmentation
4.1. Global Low Power Transformers Market, Segmentation By Product type , Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Low Power Transformers Market, Segmentation By Cooling Method, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Low Power Transformers Market, Segmentation By Applications, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Low Power Transformers Market Regional And Country Analysis
5.1. Global Low Power Transformers Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Low Power Transformers Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900