Global Autotransformer Market Size, Share, Opportunities, And Trends By Type (Single Phase, Three Phase, Variable), By Application (Power Transmission & Distribution, Electrical Appliances, Laboratories, Induction, Motors, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Jun 2023
- Report Code : KSI061615135
- Pages : 134
The global autotransformer market is estimated to grow at a CAGR of 3.72% during the forecast period.
Autotransformer uses a single winding to step up or down the voltage between its input and output terminals. Unlike a conventional transformer, an autotransformer has a common winding that serves both as the primary and secondary winding. Autotransformers are commonly used in power transmission and distribution systems, electrical appliances, and laboratories due to their higher efficiency and smaller size compared to conventional transformers. Autotransformer market growth is driven by the increasing demand for energy-efficient power transformers, rapid industrialization, growing investments in renewable energy sources, and the rising need for electricity in emerging economies.
The growing demand for efficient power transmission and distribution is boosting the global autotransformer market growth.
Autotransformers play a critical role in ensuring efficient power transmission, as they help to regulate the voltage levels and ensure that the electricity produced is of the appropriate voltage for distribution. The electricity demand continues to grow globally due to increasing industrialization and urbanization. The demand for autotransformers in the power transmission sector is expected to increase as autotransformers help to step up or step down the voltage of the electricity produced by power plants. According to the Energy Information Administration (EIA), global electricity demand will grow by 2.1% in 2021, after a 1.9% decline in 2020 due to the COVID-19 pandemic. The World Bank reported that access to electricity has been steadily improving globally, with the global electrification rate reaching 89% in 2019, up from 83% in 2010. Renewable energy sources such as solar and wind generate electricity at varying voltages, and autotransformers will be used to step up or down the varying voltage to match the grid voltage for distribution. Smart grid technology in the renewable energy sector requires advanced transformers for efficient power management and distribution, and autotransformers play a crucial role in this process. As the demand for renewable energy sources continues to grow globally, the demand for autotransformers in the renewable energy sector is expected to increase. According to the International Energy Agency (IEA), in 2020, renewable energy sources accounted for 30% of global electricity generation, and the IEA projects that by 2025, renewable energy will account for 40% of global electricity generation.
The Asia Pacific region held a significant share of the market in the base year 2021.
The Asia-Pacific region is expected to hold a significant market share of the global autotransformer due to the increasing electricity demand, the growing focus on renewable energy, and the increasing urbanization and industrialization in nations like China, India, and Japan. The National Energy Administration of China released the "Guiding Opinions on Promoting the High-quality Development of the Power Equipment Manufacturing Industry" plan in June 2020, which aims to promote the development of China's power equipment manufacturing industry, including autotransformers. In 2020, the Japanese government launched the Green Innovation Fund, a 300 billion yen ($2.7 billion) fund to support companies developing innovative technologies in the renewable energy sector. In 2020, the Indian government launched the National Smart Grid Mission (NSGM), focusing on modernizing the country's power grid infrastructure to improve the reliability, efficiency, and sustainability of the power sector. These factors all add up together for the growth of the autotransformer market.
Market Developments:
- August 2021: GE Grid Solutions announced a new autotransformer design that features a split winding and advanced cooling system called the Prolec-GE, which improves the transformer's efficiency and reduces its environmental impact.
- May 2021: Siemens Energy announced the development of a new autotransformer that uses a biodegradable insulating fluid called the "Sensformer," which is more environmentally friendly than traditional fluids.
- March 2021: ABB announced the launch of its new digital autotransformer, which features an integrated sensor system to monitor and control the transformer's performance in real-time.
Global Autotransformer Market Scope:
Report Metric | Details |
Growth Rate | CAGR of 3.72% from 2021 to 2028 |
Base Year | 2021 |
Forecast Period | 2023 – 2028 |
Forecast Unit (Value) | USD Billion |
Segments Covered | Type, Application, and Geography |
Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies Covered | ABB Ltd., Hitachi Energy Ltd. (Hitachi Group), Johnson Electric Coil Company, Lenco Electronics Inc., Meidensha Corporation, MGM Transformer Company, Osborne Transformer Corporation, Trutech Products |
Customization Scope | Free report customization with purchase |
Market Segmentation:
- By Type
- Single Phase
- Three Phase
- Variable
- By Application
- Power Transmission & Distribution
- Electrical Appliances
- Laboratories
- Induction Motors
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Others
- North America
Frequently Asked Questions (FAQs)
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. GLOBAL AUTOTRANSFORMER MARKET BY TYPE
5.1. Introduction
5.2. Single Phase
5.3. Three Phase
5.4. Variable
6. GLOBAL AUTOTRANSFORMER MARKET BY APPLICATION
6.1. Introduction
6.2. Power Transmission & Distribution
6.3. Electrical Appliances
6.4. Laboratories
6.5. Induction Motors
6.6. Others
7. GLOBAL AUTOTRANSFORMER MARKET BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. USA
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. UK
7.4.3. France
7.4.4. Spain
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. Japan
7.6.3. South Korea
7.6.4. India
7.6.5. Australia
7.6.6. Others
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. ABB Ltd.
9.2. Hitachi Energy Ltd. (Hitachi Group)
9.3. Johnson Electric Coil Company
9.4. Lenco Electronics Inc.
9.5. Meidensha Corporation
9.6. MGM Transformer Company
9.7. Osborne Transformer Corporation
9.8. Trutech Products
ABB Ltd.
Hitachi Energy Ltd. (Hitachi Group)
Johnson Electric Coil Company
Lenco Electronics Inc.
MGM Transformer Company
Osborne Transformer Corporation
Trutech Products
Related Reports
Report Name | Published Month | Get Sample PDF |
---|---|---|
Solid State Transformer Market Size: Industry Report, 2022-2027 | Sep 2022 | |
Global Power Transformer Market Size: Report, 2021-2026 | Aug 2021 | |
Oil-Filled Transformer Market Size & Share: Report, 2023 – 2028 | Feb 2023 | |
Current Transformers Market Size: Industry Report, 2023-2028 | Mar 2023 | |
Instrument Transformer Market Size & Share: Report, 2023 - 2028 | Sep 2023 |