Gas Insulated Transformer Market set to Grow at 4.61% CAGR to 2023 - Driven by Medium Voltage, High Voltage and Extra High Voltage

According to the new market research report "Gas Insulated Transformer Market by Type (Instrument Transformer, Others), Voltage (Medium Voltage, High Voltage, Extra High Voltage), Installation (Outdoor, Indoor), End-User (Utility, Industrial, Commercial), and Region - Global Forecast to 2023", The gas insulated transformer market is projected to grow from an estimated USD 2.75 billion in 2018 to USD 3.45 billion by 2023, at a CAGR of 4.61%. Factors such as space constraints in densely populated urban areas, no risk of oil leakage, and government initiatives toward improving electrification rate are driving the gas insulated transformer market.  

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The gas insulated transformer market is dominated by major players having established brand names, with a wide regional presence, along with many local and regional players in emerging economies. The key players in the gas insulated transformer market include ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche (Spain). 

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69 - Tables

43 - Figures

138 - Pages

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Further, the report segments the gas insulated transformer market on the basis of voltage into medium, high, and extra high voltage. The extra high voltage segment would be the fastest-growing market during the forecast period. The market is primarily driven by the investments in extra and ultra-high voltage projects.

 

The global gas insulated transformer market based on type has been segmented into instrument transformers and others. Other transformers include power and distribution transformers. The marker for instrument transformers is expected to grow at a higher CAGR during the forecast period. They are mainly used for measuring, protecting, and controlling circuits in substations and switchyards.

On the basis of installation, the gas insulated transformer market has been segmented into indoor and outdoor. The market for indoor segment would grow at a higher CAGR during the forecast period. The compact design and other benefits of gas insulated transformers over conventional transformers make them the ideal choice for underground and indoor substations in urban areas.

The report segments the gas insulated transformer market on the basis of end user into utility, commercial, and industrial. The growth of the market for the utility segment during the forecast period is attributed to growing demand for reliable power supply, along with the rise in urbanization, which has led to increased investments in the power infrastructure.  

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In this report, the gas insulated transformer market has been analyzed with respect to 4 regions, namely, Asia Pacific, North America, Europe, and Rest of the World. Rest of the World includes South America, and the Middle East and Africa.  Asia Pacific is estimated to be the fastest-growing market for gas insulated transformers, followed by Rest of the World and Europe, during the forecast period. The aging of infrastructure and equipment, and government initiatives for low emission of CO2 are some of the major drivers for the deployment of smart grid implementation, in the European region. The market in Rest of the World is dominated by the Middle East; the market in the Middle East is driven by the government policies to change the energy mix of the countries by increasing the share of renewables in their energy mix. The highest estimated CAGR of the market in Asia Pacific is attributed to the increase in demand for electricity due to rapid rate of industrialization along with the high rate of urbanization in the region.    

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Oil Accumulator Market Grow to Over $617.1 Million by 2023; Driven by Application Blowout Preventer & Well Head Control, Offshore Rigs, and Mud Pumps

According to the new market research report "Oil Accumulator Market by Type (Bladder, Piston, and Diaphragm), Pressure Rating (Up to 6,000 Psi and Above 6,000 Psi), Onshore vs Offshore, Application (Blowout Preventer & Well Head Control, Offshore Rigs, and Mud Pumps), and Region - Global Forecast to 2023", The global oil accumulator market is expected to grow at a CAGR of 4.78%, from 2018 to 2023, to reach a market size of USD 617.1 million by 2023. Digitalization in the oil & gas industry and shale gas exploration boom in the US are expected to drive the oil accumulator market, during the forecast period.

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The oil accumulator market is dominated by major players that are established brand names with wide regional presence, along with many local and regional players in emerging economies. The leading players in the oil accumulator industry include Hydac (Germany), Parker Hannifin (US), Eaton (Ireland), Freudenberg (Germany), Bosch Rexroth (Germany), and Nippon Accumulator (Japan).

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82 - Tables

31 - Figures

124 - Pages

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The mud pump segment is a key segment of the oil accumulator market, by application, from 2018 to 2023. The market for this segment is driven by increasing investments in the oil & gas industry in developing countries of Asia Pacific and Middle East & Africa.

The up to 6,000 psi segment is expected to be the fastest growing oil accumulator market from 2018 to 2023. This is due to various factors, including increased investments in the offshore industry. Rising investments in the oil & gas industry is expected to drive the up to 6,000 PSI segment of the oil accumulator market. 

The offshore segment of the oil accumulator market, by onshore vs. offshore, is estimated to grow at the fastest rate from 2018 to 2023. Factors such as high investment in oil & gas industries either in top side application or in subsea application are driving the oil accumulator market. Most of the industries, including oil & gas, renewable, and refineries, are using accumulators at various pressure ranges; this is driving the high temperature oil accumulator market.

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The oil accumulator market has been segmented by region into Asia Pacific, Europe, North America, Middle East & Africa, and South America. North America is projected to grow at the fastest rate, from 2018 to 2023, followed by Asia Pacific and Europe. Countries such as the US and Canada are the largest markets in North America and have increased their investments in the oil & gas sectors in the recent past. Growing urbanization, increasing industrialization, and increasing investment in the oil & gas industry are the major factors impacting the growth of the oil accumulator market in this region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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Permanent Magnet Motor Market to Expand at a CAGR of 8.87%, Global Key Players, Trends, Share, Industry Size, Segmentation, and Forecast to 2023

According to the new market research report "Permanent Magnet Motor Market by Type (PMAC, PMDC, and Brushless DC), Power Rating (Up to 25 kW, 25–100 kW, 100–300 kW, and 300 kW & Above), End-User (Industrial, Commercial & Residential, and Healthcare), and Region - Global Forecast to 2023", The permanent magnet motor market is estimated to grow at a CAGR of 8.87%, from 2018 to 2023, to reach a projected market size of USD 45.13 billion by 2023. A permanent magnet motor (consisting of a stator and a rotor having permanent magnets) is a machine in which its rotor spins in synchronization with the rotating internal magnetic field without incurring any excitation losses. Increasing demand for energy-efficient & low-cost maintenance motors and increased implementation of permanent magnet motors across industries are some of the factors contributing to the growth of the permanent magnet motor market. Shifting from rare earth magnets to cost-effective ferrite permanent magnets is one of the major opportunities for the permanent magnet motor market.

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The industrial segment is estimated to be the largest market for permanent magnet motors in 2018. The market for the industrial segment is driven by the investments being made in the electronic and automotive sectors in order to increase efficiency, productivity, reliability, and safety in the industrial sector.

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37 - Figures

138 - Pages

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Asia Pacific is expected to be the fastest-growing market for permanent magnet motors from 2018 to 2023. The demand for permanent magnet motors in Asia Pacific is driven by rapid industrialization, rising population, and urbanization. Countries such as China and Japan have implemented energy-efficiency standards to save electricity consumption, which has led to a growth in the demand for permanent magnet motors. China and Japan are expected to be the two largest markets for permanent magnet motors in the region in 2018. These countries are witnessing the increasing government initiatives to strengthen the automotive sector as well as developing healthcare sector. Moreover, the market is also expected to grow significantly in countries such as India and South Korea during the forecast period. Factors such as growing renewable power generation and rising adoption of new technologies in electric vehicles are driving the permanent magnet motor market in India and South Korea.

The permanent magnet AC motor segment is expected to be the fastest-growing segment of the permanent magnet motor market from 2018 to 2023. This is due to the major advantages of these motors such as providing high torque capacity, high-quality magnetic performance, high accelerations, and high withstand overloads capacity without risk of magnetization of the magnets, which helps to eliminate the need for costly maintenance. Asia Pacific is the fastest-growing market for permanent magnet motors and offers various business opportunities to permanent magnet motor manufacturers in the permanent magnet AC motor segment. In Asia Pacific, governments are focusing on promoting the use of energy-efficient motors in order to save electricity. These factors would drive the permanent magnet motor market.

The up to 25 kW segment is expected to be the fastest-growing market, by power rating, from 2018 to 2023. The permanent magnet motor ranging up to 25 kW is used in textile, pulp & paper, medical devices, aerospace, robotics, window shutters, air conditioners, door shutters, and electrical vehicles. A total of 70–80% of these motors are used in consumer electronics and industrial sectors. Hence, Asian countries, such as China, India, Japan, and South Korea, where these sectors are expected to experience a lot of investments in the coming years, will result in the higher market share of the up to 25 kW permanent magnet motor segment.

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The industrial segment is expected to be the fastest-growing segment of the permanent magnet motor market from 2018 to 2023. These motors are used in industrial machines, textile rewinding machines, and also used with Variable Frequency Drives (VFDs) in pumps, blowers, fans, compressors, and hoists. The automotive is one of the major industries within the industrial sector, installing the maximum number of permanent magnet motors. 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: sales@marketsandmarkets.com