Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market the “Global Autotransformer Market – which is forecasted from 2023 to 2028”.
The prime factor driving the Global Autotransformer Market growth is the autotransformers facilitate integration of variable renewable sources.
The global autotransformer market is estimated to grow at a CAGR of 3.72% during the forecast period.
The global autotransformer market is critical to the effective distribution of electrical power and voltage regulation. By sharing a similar winding and facilitating voltage transformation and gearbox, autotransformers provide a cost-effective option. As businesses, infrastructure, and urbanisation rise, so does the need for dependable and flexible electricity distribution. The autotransformer market meets these demands by providing adaptable and space-saving solutions that contribute to a robust and well-functioning worldwide electrical grid. Several compelling growth drivers drive the worldwide autotransformer market, shaping its expansion and influencing the evolution of power distribution networks. With the world’s energy demand increasing, autotransformers play an important role in effectively transporting electricity across grids, eliminating transmission losses, and maintaining a steady power supply. The Energy Information Administration (EIA) predicts that worldwide power demand will increase by 2.1% in 2021, following a 1.9% reduction in 2020 due to the COVID-19 epidemic. As the globe evolves towards cleaner and more sustainable energy sources, the incorporation of renewable energy sources such as solar and wind needs the use of modern autotransformers to regulate changing power outputs and enable smooth integration into current networks. The continual modernisation of electrical infrastructure drives the demand for autotransformers even more. Upgrades are needed for ageing power networks to improve efficiency, reliability, and load control. Autotransformers are critical components in this transformation process because of their capacity to adjust voltage levels and increase grid stability.
The demand for efficient electricity distribution networks is fueled by the rising pace of industrialisation and urbanisation. As businesses and cities grow, so does the demand for autotransformers to reliably distribute power to diverse sectors. Voltage stabilisation is a critical driver of autotransformer use. These transformers moderate voltage fluctuations, preventing equipment damage and ensuring that electrical devices operate consistently. Cross-border power commerce and country interconnections increase the demand for autotransformers, which enable smooth energy exchange across varied grids and geographies. Stricter energy efficiency rules drive demand for energy-efficient autotransformers that reduce power losses while also contributing to environmental sustainability. Finally, electricity demand is increasing in emerging nations experiencing strong economic expansion. As these countries engage in extending their power infrastructure, autotransformers play a critical role in guaranteeing efficient and dependable energy distribution, adding considerably to the worldwide autotransformer market’s development.
The global autotransformer market has been categorized based on type, application, and geography. The market has been segmented based on type into single phrase, three phrase and variable. Application is further classified into power & transmission, electrical appliances, laboratories, induction motors, and others.
By region, North America is the market leader in the worldwide autotransformer industry. The region’s well-developed electrical infrastructure, combined with continuing grid modernization activities, creates significant demand for autotransformers. Rising energy consumption, the incorporation of renewable energy sources, and technical improvements all contribute to the market’s growth. Furthermore, North America’s emphasis on energy efficiency, regulatory compliance, and the presence of significant market participants add to its significance. Continuous investments in power transmission and distribution systems strengthen the region’s position as a major growth driver in the global autotransformer market.
As a part of the report, the key companies operating in the global autotransformer market that have been covered are ABB Ltd., Hitachi Energy Ltd. (Hitachi Group), Johnson Electric Coil Company, Lenco Electronics Inc., Meidensha Corporation, MGM Transformer Company, Osborne Transformer Corporation, Trutech Products.
View a sample of the report or purchase the complete study at: https://www.knowledge-sourcing.com/report/global-autotransformer-market
This analytics report segments the global autotransformer market on the following basis
- By Type
- Single Phase
- Three Phase
- By Application
- Power Transmission & Distribution
- Electrical Appliances
- Induction Motors
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America