Three Phase Green Power Transformer Market Size & Share, by Rating (<100 kVA, 100 kVA-500 kVA, >500 kVA); Application (Residential, Commercial & Industrial, Utility) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5961
  • Published Date: Apr 03, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Three Phase Green Power Transformer Market size is expected to reach USD 3 billion by the end of 2036, growing at a CAGR of 6% during forecast period, i.e., 2024-2036. In the year 2023, the industry size of three pulse green power transformer was USD 1 billion. This growth of the market is set to be encouraged by the growing consumption of renewable energy. By 2025, over 34% of power generation is predicted to be met by renewable energy, in the world. As a result, the need for a three-phase green power transformer is predicted to increase to meet this demand for energy generation, which is done by adapting to irregular inputs that vary with weather.

Furthermore, governments all across the globe are launching various initiatives and investing heavily in renewable energy sources. Hence, this factor might also boost the market growth.  Additionally, they have also set strict regulations to eradicate the emissions from the environment. Hence, this is encouraging the power generation industry to make every process sustainable. Consequently, this is estimated to increase the preference for eco-friendly transformers.


Three Phase Green Power Transformer Market
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Three Phase Green Power Transformer Sector: Growth Drivers and Challenges

  • Growing Installation of Battery Energy Storage System - The storage of energy is predicted to play a dominating role in the Net Zero Emissions by 2050. This is because energy storage provides various services which include offering necessary system services that vary from short-term balancing and operating reserves, stabilizing the grid by ancillary services, and reducing the need for investment in new distribution and transmission lines. Further, the prevalence of blackouts has grown in recent years. Over 349 million individuals will be impacted by severe power outages in the world in 2021. This indicates about 5% of the population, globally. Hence, the need for battery energy storage systems is growing and this is further projected to boost three phase green power transformer market demand for three-phase green power transformers. This is because, these transformers are important in lowering the loss of energy while storing, conversing, and optimizing energy, further enhancing the efficiency and utilization. 
  • Rising Trend of Smart Grid - Smart grid significantly offers well-structured and founded power with the guidance of different applications of smart grid. This assures opportunity for the economy to grow and gives scope for the environment to sustain. Furthermore, in underdeveloped as well as emerging economies, the government is acknowledging the advantages of smart grid application as a strategic infrastructure investment and is pushing enterprises to adopt it in their manufacturing process. Moreover, a large number of organizations are rigorously launching new technologies including smart meters, EV Chargers, and other infrastructural technologies. This is expected to encourage the demand for the smart grid during the forecasted period. As a result, the marker revenue three phase green power transformer market is also projected to grow.
  • Surging Adoption of IoT in Three Phase Green Power Transformer - The primary reason for the failure of a transformer is overloading. Hence, IoT sensors render it feasible to track signals of potential overload before it lack control. For instance, different parameters including temperature, current, voltage, and resistivity of insulation may be monitored using an IoT sensor. This is further expected to identify any gap in the performance of winding. Therefore, the three phase green power transformer market demand owing to this factor is set to surge.

Challenges

  • High Initial Cost of Three Phase Green Transformer - A usual core is distributed in all three units of a three-phase transformer. Hence, in case a unit is damaged or faulty, the entire three-phase transformer needs to be clouded down. Moreover, the cost of repairing three-phase transformers is greater in contrast to the single ones since each system requires to be changed, which is costly. As a result, the price of defective units is much higher, and also it is tougher to get the system repaired. Therefore, this factor is predicted to hamper the three phase green power transformer market expansion for three-phase green power transformers over the coming years. 
  • Limited Capacity of Power
  • Lack of Awareness Among End-user Industries Regarding its Uses

Three Phase Green Power Transformer Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~6%

Base Year Market Size (2023)

~ USD 1 Billion

Forecast Year Market Size (2036)

~ USD 3 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Three Phase Green Power Transformer Segmentation

Rating (<100 kVA, 100 kVA-500 kVA, >500 kVA)

The 100 kVA – 500 kVA segment is predicted to account for 50% share of the global three phase green power transformer market during the forecast period. The major factor dominating the segment expansion is rising demand for electricity. The consumption of electricity in the globe has notably expanded over the past half a century, achieving close to 25,499 terawatt-hours in 2022. This demand is further estimated to expand at a larger scale. Hence, in order to satisfy this demand for this segment is growing. Furthermore, the need to electrify rural areas in developing countries is growing. Hence, this factor presents an important opportunity for the segment growth. Also, governments are deploying initiatives in order to give access to electricity in rural regions, thereby dominating the demand for medium voltage three phase green power transformers.

Application (Residential, Commercial & Industrial, Utility)

The utility segment is predicted to account for 50% share of the global three phase green power transformer market by 2036. The utility sector is important to the functioning of the advanced world, electrifying homes, businesses, and infrastructure. Additionally, rapid advancements in machine learning and AI are encouraging improvements in forecasting, operations of grids, and predictive maintenance. Moreover, as the energy landscape changes, utilities are significantly being attentive toward customer engagement through personalized design and stimulating efficiency of energy utilizing demand-side management strategies. Additionally, the evolution in regulatory frameworks, along with the deployment of innovative models including Energy-as-a-Service (EaaS), are remodeling the sector’s connection with stakeholders and customers. Hence, all factors are set to dominate the expansion of the utility sector which might further encourage the growth of a phase green power transformer. 

Our in-depth analysis of the global market includes the following segments:

          Rating

  • <100 kVA
  • 100 kVA-500 kVA
  • >500 kVA

          Application

  • Residential
  • Commercial & Industrial
  • Utility

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Three Phase Green Power Transformer Industry- Regional Synopsis

APAC Market Forecast

The Asia Pacific market for three phase green power transformer is predicted to gather the highest market share of over 30% over the forecast period. This growth of the market in this region is set to be encouraged by a growing population. Over 60 percent of the population in the globe resides in the Asia and the Pacific region. This demonstrates over 4.3 billion individuals. Furthermore, this region also includes the most populous countries in the world, China and India. As a result, the need for power is rising significantly in this region. Additionally, this region is also observing a significant rise in investment in wind projects, which is further boosting the adoption of this energy. Moreover, the price of wind energy has also reduced in this region. Hence, with the growing wind energy the market for three-phase green power transformers.

North American Market Analysis

The North America market for three phase green power transformers is set to have notable growth in the market over the coming years. This growth of the market is set to be encouraged by the growing urban population. Also, the standard of living of people in this region is enhancing further boosting demand for basic amenities such as electricity. Moreover, the price of solar panels has decreased significantly in this region. Hence, the installation of solar panels is rising in this region and its use is significantly high for farming in rural parts of North America. As a result, the market demand for three-phase green power transformers is also predicted to rise in this region over years to come.

Research Nester
Three Phase Green Power Transformer Market size
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Companies Dominating the Three Phase Green Power Transformer Landscape

top-features-companies
    • ABB Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Eaton
    • Siemens
    • General Electric
    • Schneider Electric
    • Alstom SA
    • Crompton Greaves Consumer Electricians Limited
    • WEG SA
    • Brush
    • Larsen & Toubro Limited

In-the-news

In The News

  • ABB received over USD 30 million from Amprion GmbH, a German transmission grid operator, to provide phase-shifting transformers (PSTs) that is set to improve flow of power in the German electricity network and guide in the deployment of renewable resources. 
  • The investments in its North American manufacturing and operations has been announced by Eaton, an intelligent power management company to support growing demand for its electrical solutions. The company is boosting manufacturing and strengthen resilience to drive the supply of its solutions for customers in utility, commercial, healthcare, industrial and residential markets across North America. 

Author Credits:  Payel Roy, Dhruv Bhatia


  • Report ID: 5961
  • Published Date: Apr 03, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growing installation of battery energy storage system, rising trend of smart grid, and surging adoption of IoT in three phase green power transformer.

The market size of three phase green power transformer is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2024-2036.

The major players in the market are ABB Ltd., Eaton, Siemens, General Electric, and others.

The 100 kVA-500kVA segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Three Phase Green Power Transformer Market Report Scope
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