高電圧変圧器市場 : 2029年までの世界予測

High Voltage Power Transformer Market - Global Forecast To 2029

高電圧変圧器市場 : 電力定格 SPT [(≤ 60 MVA)、LPT (> 60 MVA)]、冷却タイプ (油入、乾式)、エンドユーザー (公共事業、商業&産業)、地域別 - 2029年までの世界予測
High Voltage Power Transformer Market by Power Rating SPT ((≤ 60 MVA), LPT (> 60 MVA)), Cooling Type (Oil Immersed, Dry Type), End User (Utilities, Commercial & Industrial), and Region - Global Forecast to 2029
出版年月2024年6月
ページ数254
図表数268
価格タイプシングルユーザライセンス
価格USD 4950
種別英文調査報告書

Report Overview

The global market for High voltage power transformers is poised for substantial growth, with a projected trajectory reaching USD 12.3 billion by the year 2029.

高電圧変圧器の世界市場は大幅な成長を遂げており、2029 年までに 123 億米ドルに達すると予測されています。

高電圧変圧器市場 : 2029年までの世界予測

This represents a noteworthy increase from the estimated value of USD 9.1 billion in 2024, reflecting a steady Compound Annual Growth Rate (CAGR) of 6.3% over the period spanning from 2024 to 2029. Several factors are driving robust growth in the high voltage power transformer market, notably the increasing global demand for energy, which has significantly boosted electricity consumption in recent years. The industrial sector plays a pivotal role in this surge, fueled by escalating industrialization, manufacturing activities, and infrastructure development across various regions. Commercial enterprises depend heavily on a stable and continuous power supply to sustain operations. As the global energy scenario continues to evolve, factors like the integration of renewable energy sources, advancements in smart grid technologies, and a focus on energy efficiency will further drive the demand for high voltage power transformers.

高電圧変圧器市場 : 2029年までの世界予測 ecosystem

“LPT (> 60 MVA) segment, by power rating, to be fastest growing market from 2024 to 2029.”
LPT (> 60 MVA) segment is anticipated to be the fastest-growing market from 2024 to 2029 due to several pivotal factors. Large power transformers typically have a minimum capacity rating of at least 60 MVA. These massive liquid dielectric power transformers are the foundation of the electrical system and are custom-built, pricey pieces of machinery. In substations large power transformers play a crucial role in the grid’s architecture by adjusting voltage levels to suit the needs of various areas of the electricity grid. Large power transformers are essential for incorporating renewable energy sources, such as wind and solar farms, into the national grid as the world shifts to more environmentally friendly energy alternatives. They transform the variable voltage power produced by these renewable energy sources into a more stable, grid-compatible voltage. This enables the efficient transmission of renewable energy over long distances, contributing to a cleaner and more sustainable energy landscape.

“Utilities, by end user, to be the largest market from 2024 to 2029.”
The Utilities, by end user, to be the largest market from 2024 to 2029. The utility sector, with its expansive infrastructure and continuous expansion initiatives, stands as the primary consumer base for voltage transformers. Within this sector, there exists a strong and consistent demand, offering a stable foundation for industry participants. This segment encompasses both public and private entities engaged in power generation and transmission activities. Factors such as increasing electricity needs, modernization of grids, integration of renewable energy sources, and the critical requirement for dependable power supply collectively position the utility segment as the largest and most rapidly growing application area for power transformers in the foreseeable future. Significant investments by governments and private utilities to enhance aging power infrastructure further drive the market for advanced high-voltage power transformers that are more energy-efficient and capable of managing increased loads.

“Asia Pacific to be largest and fastest growing region in high voltage power transformer market.”
Asia Pacific is projected to be both the largest and fastest-growing region in the high voltage power transformer market. Rapid urbanization, industrialization, population growth, and expanding economies boost the need for electricity, resulting in the implementation of more transformers. Efforts to modernize power grids, spurred by aging infrastructure and the integration of renewable energy sources, further increase demand. Moreover, the emphasis on smart grids powered by automation and monitoring technologies accelerates the development of advanced transformers with enhanced capabilities. According to the International Energy Agency (IEA), Asia Pacific is the world’s largest energy-consuming region, with over half the global energy demand. The region anticipates continued electricity demand growth, driven by economic development and urbanization, with challenges remaining in ensuring energy access, particularly in rural areas. The International Renewable Energy Agency (IRENA) highlights the vast renewable energy potential in Asia Pacific, stressing the need for substantial investments to meet climate goals and enhance energy security through regional cooperation in renewable energy development and grid integration. This surge in demand across multiple fronts makes Asia Pacific the largest and fastest-growing market for high voltage power transformers.

高電圧変圧器市場 : 2029年までの世界予測 region

Breakdown of Primaries:
Through in-depth interviews with subject-matter experts, C-level executives of leading market players, industry consultants, and other specialists, significant qualitative and quantitative data were obtained and confirmed, along with future market prospects. The primary interviews were distributed as follows:
By Company Type: Tier 1-55%, Tier 2-30%, and Tier 3-15%
By Designation: C-Level-30%, Directors-20%, and Others-50%
By Region: North America–18%, Europe–8%, Asia Pacific–60%, Middle East & Africa–8%, and South America–4%
Note: “Others” include sales managers, engineers, and regional managers
The tiers of the companies are defined based on their total revenue as of 2022: Tier 1: >USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3: <USD 500 million.

The market for High voltage power transformers is primarily controlled by reputable international giants. In the industrial control transformer market, some of the leading companies are Siemens Energy (Germany), Hitachi Energy Ltd. (Switzerland), Schneider Electric (France), Toshiba Energy Systems & Solutions Corporation (Japan), and General Electric Company (US) and a few more.

Research Coverage:
The report provides an in-depth analysis of the High voltage power transformers market, complete with thorough definitions, descriptions, and projections based on various parameters. These parameters encompass Power Rating LPT (> 60 MVA), SPT (≤ 60 MVA), Cooling Type (Oil immersed & Dry type), End-User (Industrial, Commercial, Utilities), and geographic regions (Asia Pacific, North America, Europe, Middle East and Africa, South America). It offers both qualitative and quantitative assessments, focusing on the primary market drivers, constraints, opportunities, and challenges. The report also covers essential elements of the market such as competitive landscape assessment, analysis of market dynamics, value-based estimations, and future trend insights in the High voltage power transformers market.

Key Benefits of Buying the Report
The report is thoughtfully designed to meet the needs of both seasoned industry leaders and new entrants in the High voltage power transformers market. It provides dependable revenue projections for both the overall market and its various sub-segments, making it a crucial tool for stakeholders looking to gain a deep understanding of the competitive environment. This information helps stakeholders develop effective market strategies for their businesses. Furthermore, the report serves as a key resource for stakeholders to grasp the current market scenario, offering vital insights into the drivers, constraints, challenges, and opportunities for growth. With these insights, stakeholders can make well-informed decisions and keep up with the rapidly changing dynamics of the High voltage power transformers industry.

• Analysis of key DROC’s: Drivers (Pressing need for grid modernization and expansion with increasing electricity demand, Rising adoption of renewable energy sources), restraints (Limited budget for grid expansion projects in developing countries, Need for skilled professionals to install advanced transformers), opportunities (Development of customized transformers to deploy in HVDC transmission systems, Shift toward smart grid technology), and challenges (Aging grid infrastructure, Cybersecurity threats due to adoption of digital technologies).

• Product Development/ Innovation: In the high voltage power transformer market, product development and innovation are crucial elements driving the sector’s progress. As technology advances, manufacturers are increasingly dedicated to crafting innovative products that enhance performance, efficiency, and safety. These advancements typically incorporate smart technologies, cutting-edge materials, and environmentally friendly insulation options, addressing the changing demands of the power distribution landscape. Additionally, ongoing research and development initiatives are focused on producing transformers that support sustainable and eco-conscious objectives. By embracing advanced technologies and innovative design techniques, companies in the oil-immersed high voltage power transformer market strive to not only comply with existing industry standards but also surpass them, offering customers top-of-the-line solutions that boost the efficiency and reliability of power distribution systems. This focus on continual product development and innovation reflects the industry’s commitment to adapting to market shifts and enhancing the functionality and capabilities of high voltage power transformers.

• Market Development: Market development in the high voltage power transformer sector is an ongoing and dynamic process, driven by efforts to explore new geographic territories and application areas. Companies in this industry consistently look for opportunities to extend their market presence and respond to emerging demands. This often includes entering previously unexplored regions or adapting existing products for new applications. Additionally, market development strategies involve leveraging evolving trends, such as the growing integration of renewable energy sources and the upgrading of electrical grids. By actively engaging in these market development activities, companies not only expand their customer base but also tailor their products to meet the diverse and changing needs of different sectors. This strategic approach promotes sustained growth, enhances competitiveness, and equips companies to effectively manage the shifting dynamics of the high voltage power transformer market. Through focused efforts, collaborations, and strategic alliances, market development serves as a key pathway for securing long-term viability and prominence in this essential segment of the power distribution industry.

• Market Diversification: Market diversification in the high voltage power transformer industry involves expanding product lines and services strategically to reduce risks, tap into new revenue streams, and boost overall business resilience. Companies in this field may diversify by enlarging their selection of transformer types, voltage capacities, or specialized applications. This expansion could include breaking into niche markets, tailoring products for specific applications, or widening their product range to cater to a variety of customer needs. By broadening their portfolio, companies can decrease their dependence on specific products or market segments, enhancing their ability to manage market fluctuations and economic changes. Diversification may also entail geographic expansion into new regions or countries to leverage unique market demands. Effective diversification strategies are rooted in a deep understanding of market trends, consumer behaviors, and technological advancements, equipping companies to adjust and prosper in the constantly changing high voltage power transformer market. A well-executed approach to diversification enables companies to navigate market shifts, seize emerging opportunities, and maintain a competitive advantage in this challenging industry.

• Competitive Assessment: An extensive analysis of the market presence, growth plans, and service offerings of major competitors in the high voltage power transformer market has been conducted. This research has been applied to notable firms including Siemens Energy (Germany), Hitachi Energy Ltd. (Switzerland), Schneider Electric (France), Toshiba Energy Systems & Solutions Corporation (Japan), and General Electric Company (US) and others. The assessment provides in-depth understanding of these big players’ competitive positions, illuminating their growth-oriented strategies and range of offerings in the oil immersed high voltage power transformer industry.

Table of Contents

1            INTRODUCTION            31

1.1         STUDY OBJECTIVES      31

1.2         MARKET DEFINITION   32

1.3         STUDY SCOPE  32

1.3.1      MARKETS COVERED     32

FIGURE 1           HIGH-VOLTAGE POWER TRANSFORMER MARKET SEGMENTATION           32

1.3.2      REGIONAL SCOPE         33

1.3.3      YEARS CONSIDERED     33

1.3.4      INCLUSIONS AND EXCLUSIONS 34

1.4         CURRENCY CONSIDERED          34

1.5         UNITS CONSIDERED     34

1.6         LIMITATIONS   34

1.7         STAKEHOLDERS            35

1.8         IMPACT OF RECESSION 35

2            RESEARCH METHODOLOGY     36

2.1         RESEARCH DATA           36

FIGURE 2           HIGH-VOLTAGE POWER TRANSFORMER MARKET: RESEARCH DESIGN              36

2.1.1      SECONDARY DATA       37

2.1.1.1   List of major secondary sources       37

2.1.1.2   Key data from secondary sources     37

2.1.2      PRIMARY DATA 38

2.1.2.1   List of key participants in primary interviews 38

2.1.2.2   Key industry insights          39

2.1.2.3   Key data from primary sources         39

2.1.2.4   Breakdown of primaries     40

FIGURE 3           MAIN METRICS CONSIDERED TO ANALYZE AND ASSESS DEMAND FOR HIGH-VOLTAGE POWER TRANSFORMERS           41

2.2         MARKET SIZE ESTIMATION METHODOLOGY    41

2.2.1      BOTTOM-UP APPROACH           41

FIGURE 4           HIGH-VOLTAGE POWER TRANSFORMER MARKET: BOTTOM-UP APPROACH 41

2.2.1.1   Approach to arrive at market size using bottom-up approach (demand side)              42

2.2.1.1.1 Regional analysis 42

2.2.1.1.2 Country-level analysis        43

2.2.1.1.3 Demand-side assumptions 43

2.2.1.1.4 Demand-side calculations  43

2.2.2      TOP-DOWN APPROACH             44

FIGURE 5           HIGH-VOLTAGE POWER TRANSFORMER MARKET: TOP-DOWN APPROACH        44

2.2.2.1   Approach to arrive at market size using top-down analysis (supply side)  45

FIGURE 6           KEY STEPS CONSIDERED TO ASSESS HIGH-VOLTAGE POWER TRANSFORMER SUPPLY             45

FIGURE 7           HIGH-VOLTAGE POWER TRANSFORMER MARKET: SUPPLY-SIDE ANALYSIS 45

2.2.2.1.1 Supply-side assumptions    46

2.2.2.1.2 Supply-side calculations     46

2.3         FORECAST        46

2.4         MARKET BREAKDOWN AND DATA TRIANGULATION    46

FIGURE 8           HIGH-VOLTAGE POWER TRANSFORMER MARKET: DATA TRIANGULATION          47

2.5         RESEARCH ASSUMPTIONS         47

2.6         RISK ASSESSMENT         48

TABLE 1             HIGH-VOLTAGE POWER TRANSFORMER MARKET: RISK ASSESSMENT    48

2.7         RECESSION IMPACT      48

2.8         RESEARCH LIMITATIONS           48

3            EXECUTIVE SUMMARY 49

TABLE 2             HIGH-VOLTAGE POWER TRANSFORMER MARKET SNAPSHOT              49

FIGURE 9           ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF HIGH-VOLTAGE POWER TRANSFORMER MARKET IN 2023       50

FIGURE 10         LPT (>60 MVA) SEGMENT TO HOLD LARGER SHARE OF HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING, IN 2024              50

FIGURE 11         OIL-IMMERSED SEGMENT TO LEAD HIGH-VOLTAGE POWER TRANSFORMER MARKET THROUGHOUT FORECAST PERIOD    51

FIGURE 12         UTILITIES SEGMENT TO COMMAND HIGH-VOLTAGE POWER TRANSFORMER MARKET THROUGHOUT FORECAST PERIOD    52

4            PREMIUM INSIGHTS      53

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HIGH-VOLTAGE POWER TRANSFORMER MARKET           53

FIGURE 13         FLOURISHING POWER DEMAND DUE TO URBANIZATION TO CONTRIBUTE TO MARKET GROWTH    53

4.2         HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION 54

FIGURE 14         ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN HIGH-VOLTAGE POWER TRANSFORMER MARKET DURING FORECAST PERIOD  54

4.3         HIGH-VOLTAGE POWER TRANSFORMER MARKET IN ASIA PACIFIC, BY COOLING TYPE AND COUNTRY             55

FIGURE 15         OIL-IMMERSED AND CHINA ACCOUNTED FOR LARGEST SHARES OF HIGH-VOLTAGE POWER TRANSFORMER MARKET IN ASIA PACIFIC IN 2023 55

4.4         HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING              55

FIGURE 16         LPT (>60 MVA) SEGMENT TO HOLD LARGER SHARE OF HIGH-VOLTAGE POWER TRANSFORMER MARKET IN 2029       55

4.5         HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY COOLING TYPE    56

FIGURE 17         OIL-IMMERSED HIGH-VOLTAGE POWER TRANSFORMERS TO HOLD LARGER MARKET SHARE THAN DRY-TYPE HIGH-VOLTAGE POWER TRANSFORMERS  IN 2029          56

4.6         HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER              56

FIGURE 18         UTILITIES TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029      56

5            MARKET OVERVIEW     57

5.1         INTRODUCTION            57

5.2         MARKET DYNAMICS     58

FIGURE 19         HIGH-VOLTAGE POWER TRANSFORMER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES       58

5.2.1      DRIVERS            58

5.2.1.1   Pressing need for grid modernization and expansion to meet increasing electricity demand 58

5.2.1.2   Rising adoption of renewable sources in power generation         59

5.2.2      RESTRAINTS     60

5.2.2.1   Limited budget for grid expansion projects in developing countries         60

FIGURE 20         ENERGY INVESTMENTS IN EMERGING MARKETS, BY SOURCE TYPE,  2019 AND 2022  60

5.2.2.2   Need for skilled professionals to install, maintain, and repair advanced transformers        61

5.2.3      OPPORTUNITIES           61

5.2.3.1   Development of customized transformers to deploy in HVDC transmission systems  61

5.2.3.2   Shift toward smart grid technology  62

FIGURE 21         GLOBAL INVESTMENTS IN POWER GRID PROJECTS, 2015–2022              62

5.2.4      CHALLENGES   63

5.2.4.1   Challenges associated with aging grid infrastructure and transformers     63

5.2.4.2   Cybersecurity threats due to adoption of digital technologies     63

5.3         TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS       64

FIGURE 22         TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS              64

5.4         SUPPLY CHAIN ANALYSIS          66

FIGURE 23         HIGH-VOLTAGE POWER TRANSFORMER MARKET: SUPPLY CHAIN ANALYSIS           66

5.5         ECOSYSTEM ANALYSIS 68

FIGURE 24         HIGH-VOLTAGE POWER TRANSFORMER MARKET: ECOSYSTEM ANALYSIS 68

TABLE 3             ROLE OF COMPANIES IN HIGH-VOLTAGE POWER TRANSFORMER ECOSYSTEM     69

5.6         CASE STUDY ANALYSIS 71

5.6.1      INSTALLATION OF SIEMENS’ HIGH-VOLTAGE TRANSFORMERS IN AUTOMOTIVE PLANT IN GERMANY TO ENSURE EFFICIENT POWER TRANSMISSION WITH MINIMAL LOSSES             71

5.6.2      DEPLOYMENT OF GE’S PROLEC TRANSFORMERS IN DATA CENTER IN SILICON VALLEY TO IMPROVE SUSTAINABILITY AND RELIABILITY       71

5.7         INVESTMENT AND FUNDING SCENARIO            72

FIGURE 25         INVESTMENT AND FUNDING SCENARIO            72

5.8         TECHNOLOGY ANALYSIS           72

5.8.1      KEY TECHNOLOGIES    72

5.8.1.1   High-temperature superconducting (HTS) transformers           72

5.8.1.2   Solid-state transformers (SSTs)       73

5.8.1.3   High-voltage insulation     73

5.8.2      COMPLEMENTARY TECHNOLOGIES     73

5.8.2.1   Artificial intelligence-powered digital fault protection relays      73

5.8.2.2   Sensing and monitoring technologies             74

5.8.2.3   Grid stability solutions       74

5.8.3      ADJACENT TECHNOLOGIES      75

5.8.3.1   Monitoring and diagnostics systems 75

5.8.3.2   Smart grid technologies     75

5.9         TRADE ANALYSIS          76

5.9.1      IMPORT SCENARIO (HS CODE 850423)  76

TABLE 4             IMPORT DATA FOR HS CODE 850423-COMPLIANT TRANSFORMERS, BY COUNTRY, 2021–2023 (USD THOUSAND)   76

FIGURE 26         IMPORT DATA FOR HS CODE 850423-COMPLIANT TRANSFORMERS,  BY COUNTRY, 2021–2023 (USD THOUSAND) 77

TABLE 5             IMPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS, BY COUNTRY,  2021–2023 (USD THOUSAND) 77

FIGURE 27         IMPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS,  BY COUNTRY, 2021–2023 (USD THOUSAND) 78

5.9.2      EXPORT SCENARIO (HS CODE 850423)  78

TABLE 6             EXPORT DATA FOR HS CODE 850423-COMPLIANT TRANSFORMERS, BY COUNTRY, 2021–2023 (USD THOUSAND)   78

FIGURE 28         EXPORT DATA FOR HS CODE 850423-COMPLIANT TRANSFORMERS,  BY COUNTRY, 2021–2023 (USD THOUSAND) 79

TABLE 7             EXPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS, BY COUNTRY, 2021–2023 (USD THOUSAND)   79

FIGURE 29         EXPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS,  BY COUNTRY, 2021–2023 (USD THOUSAND) 80

5.10       PATENT ANALYSIS        81

FIGURE 30         HIGH-VOLTAGE POWER TRANSFORMER MARKET: PATENTS APPLIED AND GRANTED, 2014–2023       81

TABLE 8             HIGH-VOLTAGE POWER TRANSFORMER MARKET: LIST OF KEY PATENTS, 2021–2024            82

5.11       KEY CONFERENCES AND EVENTS, 2024–2025     84

TABLE 9             HIGH-VOLTAGE POWER TRANSFORMER MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2024–2025     84

5.12       PRICING ANALYSIS        85

5.12.1    INDICATIVE PRICING TREND, BY POWER RATING         85

TABLE 10           INDICATIVE PRICING TREND, BY POWER RATING (USD/UNIT)              85

5.12.2    AVERAGE SELLING PRICE TREND, BY REGION  85

FIGURE 31         AVERAGE SELLING PRICE TREND OF POWER TRANSFORMERS,  BY REGION, 2020–2023  86

5.13       TARIFF AND REGULATORY LANDSCAPE            86

5.13.1    TARIFF ANALYSIS          86

TABLE 11           MFN TARIFF FOR HS CODE 850423-COMPLIANT TRANSFORMERS, BY IMPORTING COUNTRY, 2022          86

5.13.2    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          87

TABLE 12           NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         87

TABLE 13           EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         88

TABLE 14           ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         89

TABLE 15           MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,  AND OTHER ORGANIZATIONS       90

TABLE 16           SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         91

5.13.3    CODES AND REGULATIONS      91

TABLE 17           HIGH-VOLTAGE POWER TRANSFORMER MARKET: REGULATORY FRAMEWORK     91

5.14       PORTER’S FIVE FORCES ANALYSIS         93

FIGURE 32         HIGH-VOLTAGE POWER TRANSFORMER MARKET: PORTER’S FIVE FORCES ANALYSIS 93

TABLE 18           HIGH-VOLTAGE POWER TRANSFORMER MARKET: PORTER’S FIVE FORCES ANALYSIS 93

5.14.1    THREAT OF SUBSTITUTES         94

5.14.2    BARGAINING POWER OF SUPPLIERS     94

5.14.3    BARGAINING POWER OF BUYERS           94

5.14.4    THREAT OF NEW ENTRANTS    95

5.14.5    INTENSITY OF COMPETITIVE RIVALRY 95

5.15       KEY STAKEHOLDERS AND BUYING CRITERIA    96

5.15.1    KEY STAKEHOLDERS IN BUYING PROCESS         96

FIGURE 33         INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END USERS  96

TABLE 19           INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END USERS  96

5.15.2    BUYING CRITERIA         96

FIGURE 34         KEY BUYING CRITERIA FOR TOP 3 END USERS  96

TABLE 20           KEY BUYING CRITERIA FOR TOP 3 END USERS  97

6            HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE              98

6.1         INTRODUCTION            99

FIGURE 35         HIGH-VOLTAGE POWER TRANSFORMER MARKET SHARE, BY COOLING TYPE, 2023    99

TABLE 21           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2020–2023 (USD MILLION)     100

TABLE 22           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2024–2029 (USD MILLION)     100

6.2         OIL-IMMERSED 100

6.2.1      EXCELLENT THERMAL PROPERTIES AND RELIABILITY TO FOSTER SEGMENTAL GROWTH 100

TABLE 23           OIL-IMMERSED: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2020–2023 (USD MILLION)          101

TABLE 24           OIL-IMMERSED: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2024–2029 (USD MILLION)          101

6.3         DRY-TYPE         102

6.3.1      SIMPLICITY AND LOW-MAINTENANCE REQUIREMENTS TO CONTRIBUTE TO SEGMENTAL GROWTH           102

TABLE 25           DRY-TYPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2020–2023 (USD MILLION)             103

TABLE 26           DRY-TYPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2024–2029 (USD MILLION)             103

7            HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY POWER RATING             104

7.1         INTRODUCTION            105

FIGURE 36         HIGH-VOLTAGE POWER TRANSFORMER MARKET SHARE, BY POWER RATING, 2023   105

TABLE 27           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2020–2023 (USD MILLION)     105

TABLE 28           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2024–2029 (USD MILLION)     106

7.2         SPT (≤60 MVA) 106

7.2.1      RISING NEED FOR DECENTRALIZED ENERGY SOLUTIONS BY URBAN POPULATION TO FUEL SEGMENTAL GROWTH 106

TABLE 29           SPT (≤60 MVA): HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2020–2023 (USD MILLION)          107

TABLE 30           SPT (≤60 MVA): HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2024–2029 (USD MILLION)          107

7.3         LPT (>60 MVA) 107

7.3.1      RAPID INDUSTRIALIZATION AND EXPANSION OF POWER TRANSMISSION INFRASTRUCTURE TO EXPEDITE SEGMENTAL GROWTH              107

TABLE 31           LPT (>60 MVA): HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2020–2023 (USD MILLION)          108

TABLE 32           LPT (>60 MVA): HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2024–2029 (USD MILLION)          108

8            HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER              109

8.1         INTRODUCTION            110

FIGURE 37         HIGH-VOLTAGE POWER TRANSFORMER MARKET SHARE, BY END USER, 2023 110

TABLE 33           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)          110

TABLE 34           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)          111

8.2         UTILITIES          111

8.2.1      INCREASING GOVERNMENT INVESTMENT IN SMART GRID TECHNOLOGIES TO CONTRIBUTE TO SEGMENTAL GROWTH  111

TABLE 35           UTILITIES: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2020–2023 (USD MILLION)             112

TABLE 36           UTILITIES: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2024–2029 (USD MILLION)             112

8.3         COMMERCIAL  113

8.3.1      GROWING DEMAND FOR DATA CENTERS TO FOSTER SEGMENTAL GROWTH          113

TABLE 37           COMMERCIAL: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2020–2023 (USD MILLION)          114

TABLE 38           COMMERCIAL: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2024–2029 (USD MILLION)          114

8.4         INDUSTRIAL     114

8.4.1      RISING NEED FOR UNINTERRUPTED POWER SUPPLY TO CONDUCT CRITICAL PRODUCTION PROCESSES TO BOOST DEMAND        114

TABLE 39           INDUSTRIAL: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2020–2023 (USD MILLION)          116

TABLE 40           INDUSTRIAL: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION,  2024–2029 (USD MILLION)          117

9            HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION 118

9.1         INTRODUCTION            119

FIGURE 38         HIGH-VOLTAGE POWER TRANSFORMER MARKET SHARE, BY REGION, 2023    119

FIGURE 39         ASIA PACIFIC TO REGISTER HIGHEST CAGR IN HIGH-VOLTAGE POWER TRANSFORMER MARKET FROM 2024 TO 2029             120

TABLE 41           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)          120

TABLE 42           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)          121

TABLE 43           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (UNITS)         121

TABLE 44           HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (UNITS)         121

9.2         NORTH AMERICA          122

9.2.1      RECESSION IMPACT ON HIGH-VOLTAGE POWER TRANSFORMER MARKET IN NORTH AMERICA   123

FIGURE 40         NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET SNAPSHOT     123

TABLE 45           NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2020–2023 (USD MILLION)          124

TABLE 46           NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2024–2029 (USD MILLION)          124

TABLE 47           NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)             124

TABLE 48           NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2024–2029 (USD MILLION)          124

TABLE 49           NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)      125

TABLE 50           NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)      125

TABLE 51           NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2020–2023 (USD MILLION)      125

TABLE 52           NORTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2024–2029 (USD MILLION)      125

9.2.2      US         126

9.2.2.1   Rising preference for renewable energy sources to enhance grid efficiency and reliability to contribute to market growth       126

TABLE 53           US: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)          127

TABLE 54           US: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)          127

9.2.3      CANADA            127

9.2.3.1   Growing government efforts to modernize grid infrastructure and increase grid efficiency to drive market   127

TABLE 55           CANADA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)         128

TABLE 56           CANADA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)         129

9.2.4      MEXICO             129

9.2.4.1   Increasing population and industrialization to contribute to market growth              129

TABLE 57           MEXICO: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 130

TABLE 58           MEXICO: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 130

9.3         ASIA PACIFIC    130

9.3.1      RECESSION IMPACT ON HIGH-VOLTAGE POWER TRANSFORMER MARKET IN ASIA PACIFIC           131

FIGURE 41         ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET SNAPSHOT     132

TABLE 59           ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2020–2023 (USD MILLION)          133

TABLE 60           ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2024–2029 (USD MILLION)          133

TABLE 61           ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2020–2023 (USD MILLION)          133

TABLE 62           ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2024–2029 (USD MILLION)          133

TABLE 63           ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)      134

TABLE 64           ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)      134

TABLE 65           ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2020–2023 (USD MILLION)      134

TABLE 66           ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2024–2029 (USD MILLION)      135

9.3.2      CHINA  135

9.3.2.1   Rapid industrialization and infrastructural development to accelerate market growth   135

TABLE 67           CHINA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 136

TABLE 68           CHINA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 136

9.3.3      INDIA   137

9.3.3.1   Strong focus on developing electric vehicle charging infrastructure to drive market              137

TABLE 69           INDIA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 138

TABLE 70           INDIA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 138

9.3.4      JAPAN  138

9.3.4.1   Heightened emphasis on integrating renewable energy sources into national grid to fuel market growth         138

TABLE 71           JAPAN: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 139

TABLE 72           JAPAN: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 140

9.3.5      REST OF ASIA PACIFIC  140

TABLE 73           REST OF ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)        142

TABLE 74           REST OF ASIA PACIFIC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)        142

9.4         EUROPE             142

9.4.1      RECESSION IMPACT ON HIGH-VOLTAGE POWER TRANSFORMER MARKET IN EUROPE     143

TABLE 75           EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2020–2023 (USD MILLION)             143

TABLE 76           EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2023–2029 (USD MILLION)             143

TABLE 77           EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2020–2023 (USD MILLION) 144

TABLE 78           EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2024–2029 (USD MILLION) 144

TABLE 79           EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)         144

TABLE 80           EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)         144

TABLE 81           EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2020–2023 (USD MILLION)         145

TABLE 82           EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2024–2029 (USD MILLION)         145

9.4.2      GERMANY         145

9.4.2.1   Transition toward sustainable energy sources to maintain grid resilience to boost demand 145

TABLE 83           GERMANY: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)         146

TABLE 84           GERMANY: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)         146

9.4.3      UK         146

9.4.3.1   Commitment to achieving net-zero carbon footprint and grid modernizing to fuel market growth     146

TABLE 85           UK: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)          147

TABLE 86           UK: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)          148

9.4.4      ITALY   148

9.4.4.1   Government investment in power transmission networks to boost market growth              148

TABLE 87           ITALY: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 149

TABLE 88           ITALY: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 149

9.4.5      FRANCE             149

9.4.5.1   Investment in upgrading aging power infrastructure to contribute to market growth   149

TABLE 89           FRANCE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 150

TABLE 90           FRANCE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 150

9.4.6      REST OF EUROPE           151

TABLE 91           REST OF EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)      152

TABLE 92           REST OF EUROPE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)      152

9.5         SOUTH AMERICA           153

9.5.1      RECESSION IMPACT ON HIGH-VOLTAGE POWER TRANSFORMER MARKET IN SOUTH AMERICA   153

TABLE 93           SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2020–2023 (USD MILLION)          154

TABLE 94           SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY POWER RATING,  2024–2029 (USD MILLION)          154

TABLE 95           SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2020–2023 (USD MILLION)          154

TABLE 96           SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COOLING TYPE,  2024–2029 (USD MILLION)          154

TABLE 97           SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)      155

TABLE 98           SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)      155

TABLE 99           SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2020–2023 (USD MILLION)      155

TABLE 100         SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2024–2029 (USD MILLION)      155

9.5.2      BRAZIL 156

9.5.2.1   Increasing electricity demand due to economic development and rapid urbanization to accelerate market growth       156

TABLE 101         BRAZIL: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 157

TABLE 102         BRAZIL: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 157

9.5.3      ARGENTINA      157

9.5.3.1   Rising focus on power generation using renewable sources to fuel market growth              157

TABLE 103         ARGENTINA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)      158

TABLE 104         ARGENTINA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)      158

9.5.4      REST OF SOUTH AMERICA         158

TABLE 105         REST OF SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY END USER, 2020–2023 (USD MILLION)     159

TABLE 106         REST OF SOUTH AMERICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)        159

9.6         MIDDLE EAST & AFRICA             160

9.6.1      RECESSION IMPACT ON HIGH-VOLTAGE POWER TRANSFORMER MARKET IN MIDDLE EAST & AFRICA     161

TABLE 107         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY POWER RATING, 2020–2023 (USD MILLION)              161

TABLE 108         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY POWER RATING, 2024–2029 (USD MILLION)              161

TABLE 109         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY COOLING TYPE, 2020–2023 (USD MILLION)              161

TABLE 110         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY COOLING TYPE, 2024–2029 (USD MILLION)              162

TABLE 111         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)     162

TABLE 112         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)     162

TABLE 113         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2020–2023 (USD MILLION)     162

TABLE 114         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY COUNTRY,  2024–2029 (USD MILLION)     163

TABLE 115         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY GCC COUNTRY, 2020–2023 (USD MILLION)              163

TABLE 116         MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY GCC COUNTRY, 2024–2029 (USD MILLION)              163

9.6.2      GCC      163

TABLE 117         GCC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 164

TABLE 118         GCC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 164

9.6.2.1   Saudi Arabia        164

9.6.2.1.1 Transitioning from petroleum to balanced structure of energy sources to boost demand 164

TABLE 119         SAUDI ARABIA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)      166

TABLE 120         SAUDI ARABIA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)      166

9.6.2.2   UAE      166

9.6.2.2.1 Initiatives to increase access to reliable and sustainable electricity to support market growth     166

TABLE 121         UAE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION) 167

TABLE 122         UAE: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION) 167

9.6.2.3   Rest of GCC        168

TABLE 123         REST OF GCC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)      168

TABLE 124         REST OF GCC: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)      168

9.6.3      SOUTH AFRICA 169

9.6.3.1   Increasing investment in power infrastructure development due to industrialization to expedite market growth   169

TABLE 125         SOUTH AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2020–2023 (USD MILLION)      169

TABLE 126         SOUTH AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET, BY END USER,  2024–2029 (USD MILLION)      170

9.6.4      REST OF MIDDLE EAST & AFRICA           170

TABLE 127         REST OF MIDDLES EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY END USER, 2020–2023 (USD MILLION)     171

TABLE 128         REST OF MIDDLE EAST & AFRICA: HIGH-VOLTAGE POWER TRANSFORMER MARKET,  BY END USER, 2024–2029 (USD MILLION)     171

10          COMPETITIVE LANDSCAPE       172

10.1       OVERVIEW        172

10.2       KEY PLAYER STRATEGIES/RIGHT TO WIN, 2019–2023     172

10.3       MARKET SHARE ANALYSIS, 2023             174

FIGURE 42         HIGH-VOLTAGE POWER TRANSFORMER MARKET SHARE ANALYSIS, 2023 175

10.4       REVENUE ANALYSIS, 2019–2023 175

FIGURE 43         SEGMENTAL REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2019–2023      175

10.5       COMPANY VALUATION AND FINANCIAL METRICS        176

FIGURE 44         COMPANY VALUATION (USD BILLION), 2023    176

FIGURE 45         FINANCIAL METRICS (EV/EBITDA), 2023            177

10.6       BRAND/PRODUCT COMPARISON          178

FIGURE 46         HIGH-VOLTAGE POWER TRANSFORMER MARKET: BRAND/PRODUCT COMPARISON          178

10.7       COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023   179

10.7.1    STARS  179

10.7.2    EMERGING LEADERS    179

10.7.3    PERVASIVE PLAYERS     179

10.7.4    PARTICIPANTS 179

FIGURE 47         HIGH-VOLTAGE POWER TRANSFORMER MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023      180

10.7.5    COMPANY FOOTPRINT: KEY PLAYERS, 2023      181

10.7.5.1 Company footprint            181

FIGURE 48         HIGH-VOLTAGE POWER TRANSFORMER MARKET: COMPANY FOOTPRINT      181

10.7.5.2 Region footprint  182

TABLE 131         HIGH-VOLTAGE POWER TRANSFORMER MARKET: REGION FOOTPRINT      182

10.7.5.3 Cooling type footprint       183

TABLE 132         HIGH-VOLTAGE POWER TRANSFORMER MARKET: COOLING TYPE FOOTPRINT         183

10.7.5.4 Power rating footprint       184

TABLE 133         HIGH-VOLTAGE POWER TRANSFORMER MARKET: POWER RATING FOOTPRINT     184

10.7.5.5 End user footprint             185

TABLE 134         HIGH-VOLTAGE POWER TRANSFORMER MARKET: END USER FOOTPRINT      185

10.8       COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023          186

10.8.1    PROGRESSIVE COMPANIES       186

10.8.2    RESPONSIVE COMPANIES          186

10.8.3    DYNAMIC COMPANIES 186

10.8.4    STARTING BLOCKS       186

FIGURE 49         HIGH-VOLTAGE POWER TRANSFORMER MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023 187

10.8.5    COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023             188

10.8.5.1 Detailed list of key startups/smes     188

TABLE 135         HIGH-VOLTAGE POWER TRANSFORMER MARKET: LIST OF KEY STARTUPS/SMES   188

10.8.5.2 Competitive benchmarking of key startups/SMEs        189

TABLE 136         HIGH-VOLTAGE POWER TRANSFORMER MARKET: COMPETITIVE BENCHMARKING  OF KEY STARTUPS/SMES       189

10.9       COMPETITIVE SCENARIO AND TRENDS             189

10.9.1    DEALS  189

TABLE 137         HIGH-VOLTAGE POWER TRANSFORMER MARKET: DEALS, DECEMBER 2019– MARCH 2024  189

10.9.2    EXPANSIONS    191

TABLE 138         HIGH-VOLTAGE POWER TRANSFORMER MARKET: EXPANSIONS, DECEMBER 2019–MARCH 2024      191

10.9.3    OTHERS             192

TABLE 139         HIGH-VOLTAGE POWER TRANSFORMER MARKET: OTHERS, DECEMBER 2019– MARCH 2024  192

11          COMPANY PROFILES    193

(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*

11.1       KEY PLAYERS   193

11.1.1    SIEMENS ENERGY          193

TABLE 140         SIEMENS ENERGY: COMPANY OVERVIEW           193

FIGURE 50         SIEMENS ENERGY: COMPANY SNAPSHOT          194

TABLE 141         SIEMENS ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED          194

TABLE 142         SIEMENS ENERGY: DEALS          195

TABLE 143         SIEMENS ENERGY: EXPANSIONS             195

11.1.2    HITACHI ENERGY LTD. 197

TABLE 144         HITACHI ENERGY LTD.: COMPANY OVERVIEW 197

FIGURE 51         HITACHI ENERGY LTD.: COMPANY SNAPSHOT 198

TABLE 145         HITACHI ENERGY LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED          198

TABLE 146         HITACHI ENERGY LTD.: DEALS 199

TABLE 147         HITACHI ENERGY LTD.: EXPANSIONS   199

TABLE 148         HITACHI ENERGY LTD.: OTHERS           200

11.1.3    SCHNEIDER ELECTRIC 202

TABLE 149         SCHNEIDER ELECTRIC: COMPANY OVERVIEW  202

FIGURE 52         SCHNEIDER ELECTRIC: COMPANY SNAPSHOT  203

TABLE 150         SCHNEIDER ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED          203

TABLE 151         SCHNEIDER ELECTRIC: DEALS 204

TABLE 152         SCHNEIDER ELECTRIC: EXPANSIONS    204

11.1.4    TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION        206

TABLE 153         TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: COMPANY OVERVIEW  206

FIGURE 53         TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION:  COMPANY SNAPSHOT  207

TABLE 154         TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED   207

TABLE 155         TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: OTHERS             208

11.1.5    GENERAL ELECTRIC COMPANY 210

TABLE 156         GENERAL ELECTRIC COMPANY: COMPANY OVERVIEW 210

FIGURE 54         GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT 211

TABLE 157         GENERAL ELECTRIC COMPANY: PRODUCTS/SERVICES/SOLUTIONS OFFERED   211

TABLE 158         GENERAL ELECTRIC COMPANY: DEALS 212

TABLE 159         GENERAL ELECTRIC COMPANY: EXPANSIONS  213

TABLE 160         GENERAL ELECTRIC COMPANY: OTHERS           214

11.1.6    HD HYUNDAI ELECTRIC CO., LTD.        216

TABLE 161         HD HYUNDAI ELECTRIC CO., LTD.: COMPANY OVERVIEW              216

FIGURE 55         HD HYUNDAI ELECTRIC CO., LTD.: COMPANY SNAPSHOT              217

TABLE 162         HD HYUNDAI ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED   217

TABLE 163         HD HYUNDAI ELECTRIC CO., LTD.: OTHERS     219

11.1.7    CG POWER & INDUSTRIAL SOLUTIONS LTD.     220

TABLE 164         CG POWER & INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW        220

FIGURE 56         CG POWER & INDUSTRIAL SOLUTION LTD.: COMPANY SNAPSHOT        221

TABLE 165         CG POWER & INDUSTRIAL SOLUTION LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED   221

TABLE 166         CG POWER & INDUSTRIAL SOLUTIONS LTD.: DEALS     222

TABLE 167         CG POWER & INDUSTRIAL SOLUTIONS LTD.: EXPANSIONS              222

11.1.8    MITSUBISHI ELECTRIC CORPORATION 223

TABLE 168         MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW              223

FIGURE 57         MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT              224

TABLE 169         MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED   224

TABLE 170         MITSUBISHI ELECTRIC CORPORATION: DEALS 225

TABLE 171         MITSUBISHI ELECTRIC CORPORATION: OTHERS           225

11.1.9    HYOSUNG HEAVY INDUSTRIES 226

TABLE 172         HYOSUNG HEAVY INDUSTRIES: COMPANY OVERVIEW 226

FIGURE 58         HYOSUNG HEAVY INDUSTRIES: COMPANY SNAPSHOT 227

TABLE 173         HYOSUNG HEAVY INDUSTRIES: PRODUCTS/SERVICES/SOLUTIONS OFFERED   227

TABLE 174         HYOSUNG HEAVY INDUSTRIES: DEALS 228

11.1.10  BHARAT HEAVY ELECTRICALS LIMITED            229

TABLE 175         BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW        229

FIGURE 59         BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT        230

TABLE 176         BHARAT HEAVY ELECTRICALS LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED   230

TABLE 177         BHARAT HEAVY ELECTRICALS LIMITED: OTHERS          231

11.1.11  FUJI ELECTRIC CO., LTD.           232

TABLE 178         FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW            232

FIGURE 60         FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT            233

TABLE 179         FUJI ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED          233

TABLE 180         FUJI ELECTRIC CO., LTD.: DEALS           234

11.1.12  WEG     235

TABLE 181         WEG: COMPANY OVERVIEW      235

FIGURE 61         WEG: COMPANY SNAPSHOT     236

TABLE 182         WEG: PRODUCTS/SERVICES/SOLUTIONS OFFERED       236

TABLE 183         WEG: DEALS     237

TABLE 184         WEG: EXPANSIONS        238

11.1.13  EFACEC             239

TABLE 185         EFACEC: COMPANY OVERVIEW 239

FIGURE 62         EFACEC: COMPANY SNAPSHOT 240

TABLE 186         EFACEC: PRODUCTS/SERVICES/SOLUTIONS OFFERED 240

TABLE 187         EFACEC: OTHERS          241

11.1.14  LS ELECTRIC CO., LTD. 243

TABLE 188         LS ELECTRIC CO., LTD.: COMPANY OVERVIEW 243

FIGURE 63         LS ELECTRIC CO., LTD.: COMPANY SNAPSHOT 244

TABLE 189         LS ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED          244

TABLE 190         LS ELECTRIC CO., LTD.: DEALS 245

TABLE 191         LS ELECTRIC CO., LTD.: OTHERS           245

11.1.15  TRANSFORMERS & RECTIFIERS (INDIA) LTD.    246

TABLE 192         TRANSFORMERS & RECTIFIERS (INDIA) LTD.: COMPANY OVERVIEW        246

FIGURE 64         TRANSFORMERS & RECTIFIERS (INDIA) LTD.: COMPANY SNAPSHOT        246

TABLE 193         TRANSFORMERS & RECTIFIERS (INDIA) LTD.: PRODUCTS/SERVICES/ SOLUTIONS OFFERED  247

TABLE 194         TRANSFORMERS & RECTIFIERS (INDIA) LTD.: OTHERS 248

11.2       OTHER PLAYERS           249

11.2.1    SGB SMIT           249

TABLE 195         SGB SMIT: COMPANY OVERVIEW           249

11.2.2    NIAGARA TRANSFORMER CORP.            250

TABLE 196         NIAGARA TRANSFORMER CORP.: COMPANY OVERVIEW              250

11.2.3    HAMMOND POWER SOLUTIONS            251

TABLE 197         HAMMOND POWER SOLUTIONS: COMPANY OVERVIEW              251

11.2.4    NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD.            251

TABLE 198         NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD.: COMPANY OVERVIEW  251

11.2.5    WILSON POWER SOLUTIONS    252

TABLE 199         WILSON POWER SOLUTIONS: COMPANY OVERVIEW     252

11.2.6    ABC TRANSFORMERS (P) LTD   252

TABLE 200         ABC TRANSFORMERS (P) LTD: COMPANY OVERVIEW   252

11.2.7    VIJAY POWER   253

TABLE 201         VIJAY POWER: COMPANY OVERVIEW    253

11.2.8    JSHP TRANSFORMER    253

TABLE 202         JSHP TRANSFORMER: COMPANY OVERVIEW     253

11.2.9    CHINT GROUP 254

TABLE 203         CHINT GROUP: COMPANY OVERVIEW  254

11.2.10  JIANGSHAN SCOTECH ELECTRICAL CO., LTD    254

TABLE 204         JIANGSHAN SCOTECH ELECTRICAL CO., LTD: COMPANY OVERVIEW        254

*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.

12          APPENDIX         255

12.1       INSIGHTS FROM INDUSTRY EXPERTS   255

12.2       DISCUSSION GUIDE      256

12.3       KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL             259

12.4       CUSTOMIZATION OPTIONS      261

12.5       RELATED REPORTS       261

12.6       AUTHOR DETAILS         262