According to the new market research report “Industrial
Control Transformer Market by Phase (Single and Three), Power Rating
(25–500 VA, 500–1,000 VA, 1,000–1,500 VA, and > 1,500 VA), End-User (Power
Generation, Oil & Gas, Chemical, Metal & Mining), and Region - Global
Forecast to 2023”, published by MarketsandMarkets™, the global industrial
control transformer market is expected to grow from an estimated USD 809.2
million in 2018 to reach USD 1,039.8 million by 2023, growing at a CAGR of
5.14% from 2018 to 2023. The growth of this market is primarily driven by the
increased usage of industrial control transformers across major industries,
booming power sector and augmented power generation capacities worldwide, and
need to reduce equipment failure caused by frequent voltage spikes.
Browse and in-depth TOC on “Industrial Control Transformer Market”
62 - Tables
36 - Figures
127 – Pages
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Asia Pacific is likely to continue to be the largest
market for industrial control transformers followed by North America till 2023.
The global industrial control transformer market is dominated by major players
such as ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider
(France), GE (US), Hubbell (US), Emerson (US), and Rockwell (US).
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Growth strategies adopted by key players in the
industrial control transformer market include new product launches, expansions
& investments, and mergers & acquisitions. Expansions & investments
was the most widely adopted strategy by market players from 2014 to February
2018. Industry players also adopted new product launches to enhance their
market shares.
ABB is a global engineering company primarily engaged in
power, automation, and electrification technologies. It offers a wide range of
products to various industries such as utilities, industrial, infrastructure,
and transportation. The company operates through 4 divisions, namely, power
grids, electrification products, robotics & motion, and process automation.
It provides industrial control transformers through its power grid division.
The power grid product segment provides a complete range of products from high-
to extra-voltage solutions to its customers, such as transformers, T&D
substations, Supervisory Control and Data Acquisition (SCADA) systems,
microgrid solutions, transformers, HVDC systems, high-voltage switchgear, and
FACTS. ABB has been consistently spending on its research & development
activities to develop innovative products. For instance, in October 2016, the
company introduced a free Total Cost of Ownership (TCO) tool to help its
customers determine loss capitalization factors and compare different
transformer alternatives.
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Siemens is one of the leading German conglomerates that
provides products and solutions for infrastructure, healthcare, and energy
sectors. It conducts its operations through the following segments, namely,
power & gas, energy management, building technologies, mobility, digital
factory and process industries & drives, Healthineers, and Siemens Gamesa
Renewable Energy. The energy management segment provides product &
solutions for transmitting, distributing, and managing electrical power and
intelligent power infrastructure. The company provides its products to power
providers, transmission & distribution system operators, industrial
companies, infrastructure developers, construction companies, distributors, and
OEMs. North America and Asia Pacific were the key markets for the segment. The
company focuses on its Vision 2020 roadmap to drive the performance through
re-organizing its structures and responsibilities and enhancing management
reliability. Its medium-term strategy is to strengthen its core businesses
along with the entire value chain of electrification by allocating more resources
for growing fields, scaling up high-growth businesses, and tapping new
opportunities.
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Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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