Global Voltage Transformer Market Size study, by Voltage Type (Low Voltage, Medium Voltage, High Voltage) by Application (Utility, Industrial, Others, Residential and Commercial) and Regional Forecasts 2022-2032

Description

List of Tables

Global Voltage Transformer Market is valued approximately USD 23.72 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.60% over the forecast period 2024-2032. A voltage transformer is an electrical device used to step up or step-down voltage levels in an electrical circuit. It operates on the principle of electromagnetic induction and consists of primary and secondary windings wound around a magnetic core. The primary winding is connected to the high voltage source, while the secondary winding delivers a lower, safer voltage suitable for measurement, monitoring, and protection purposes. Voltage transformers are crucial in electrical power systems, particularly in substations and power distribution networks, as they enable the accurate measurement of high voltages without exposing equipment and personnel to dangerous voltage levels. Furthermore, Innovations in transformer technology, such as the development of solid-state transformers (SSTs), which offer higher efficiency, compact size, and better performance, are gaining traction. These advancements are expected to revolutionize the Global Voltage Transformer Market.

The Global Voltage Transformer Market is driven by rising demand for electricity due to rapid urbanization and industrialization, particularly in emerging economies, necessitates the expansion and upgrading of power infrastructure, including voltage transformers. Voltage transformers are vital components in electricity distribution networks, responsible for converting electricity from various sources to meet diverse voltage requirements. They play a crucial role in efficiently and safely transmitting electricity across different levels. Industries rely on them to adjust voltage levels to meet the specific needs of equipment, ensuring optimal performance and safety. In both urban and rural areas, voltage transformers adapt electricity to standardized levels for homes and businesses, enhancing the safety and reliability of electrical devices. In addition, the adoption of smart grid technologies is a major driver in the market, as smart grids require advanced voltage transformers with digital monitoring and control features to enhance grid reliability and efficiency, resulting in market growth. However, high cost of Voltage Transformer and energy efficiency concerns is going to impede the overall demand for the market during the forecast period 2024-2032.

The key regions considered for the Global Voltage Transformer market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Asia Pacific was the largest regional market in terms of revenue, the rapid industrialization and urbanization in countries such as China, India, and Japan have significantly increased the demand for electricity, necessitating the expansion and modernization of power infrastructure, including voltage transformers. Additionally, substantial investments in renewable energy projects in this region require efficient voltage transformers to integrate and distribute power from renewable sources like wind and solar into the grid. The presence of major manufacturers and advancements in smart grid technologies further boost the market. Moreover, government initiatives and policies aimed at improving electrification and energy efficiency support the growth of voltage transformers, solidifying Asia-Pacific's leading position in the global market across the region. Furthermore, the market in North America, on the other hand, is expected to develop at the fastest rate over the forecast period 2024-2032.

Major market player included in this report are:

MPS Industries, Inc.
General Electric
ABB Group
PICO Electronics, Inc.
Custom Coils
Siemens AG
HD Hyundai Electric Co., Ltd.
Schneider Electric
Glen Magnetics Incorporated.
Pacific Transformer Corporation

The detailed segments and sub-segment of the market are explained below:

By Voltage

Low Voltage
Medium Voltage
High Voltage

By Application:

Utility
Industrial
Residential and Commercial
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Voltage Transformer Market Definition and Research Assumptions

1.1. Research Objective
1.2. Market Definition
1.3. Research Assumptions
- 1.3.1. Inclusion & Exclusion
- 1.3.2. Limitations
- 1.3.3. Supply Side Analysis
  - 1.3.3.1. Availability
  - 1.3.3.2. Infrastructure
  - 1.3.3.3. Regulatory Environment
  - 1.3.3.4. Market Competition
  - 1.3.3.5. Economic Viability (Consumer's Perspective)
- 1.3.4. Demand Side Analysis
  - 1.3.4.1. Regulatory frameworks
  - 1.3.4.2. Technological Advancements
  - 1.3.4.3. Environmental Considerations
  - 1.3.4.4. Consumer Awareness & Acceptance
1.4. Estimation Methodology
1.5. Years Considered for the Study
1.6. Currency Conversion Rates

Chapter 2. Executive Summary

2.1. Global Voltage Transformer Market Size & Forecast (2022- 2032)
2.2. Regional Summary
2.3. Segmental Summary
- 2.3.1. By Voltage Type
- 2.3.2. By Application
2.4. Key Trends
2.5. Recession Impact
2.6. Analyst Recommendation & Conclusion

Chapter 3. Global Voltage Transformer Market Dynamics

3.1. Market Drivers
3.2. Market Challenges
3.3. Market Opportunities

Chapter 4. Global Voltage Transformer Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Voltage Transformer Market Size & Forecasts by Voltage Type 2022-2032

5.1. Low Voltage
5.2. Medium Voltage
5.3. High Voltage

Chapter 6. Global Voltage Transformer Market Size & Forecasts by Application 2022-2032

6.1. Utility
6.2. Industrial
6.3. Others
6.4. Residential and Commercial

Chapter 7. Global Voltage Transformer Market Size & Forecasts by Region 2022-2032

7.1. North America Voltage Transformer Market
- 7.1.1. U.S. Voltage Transformer Market
  - 7.1.1.1. Voltage Type breakdown size & forecasts, 2022-2032
  - 7.1.1.2. Application breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Voltage Transformer Market
7.2. Europe Voltage Transformer Market
- 7.2.1. U.K. Voltage Transformer Market
- 7.2.2. Germany Voltage Transformer Market
- 7.2.3. France Voltage Transformer Market
- 7.2.4. Spain Voltage Transformer Market
- 7.2.5. Italy Voltage Transformer Market
- 7.2.6. Rest of Europe Voltage Transformer Market
7.3. Asia-Pacific Voltage Transformer Market
- 7.3.1. China Voltage Transformer Market
- 7.3.2. India Voltage Transformer Market
- 7.3.3. Japan Voltage Transformer Market
- 7.3.4. Australia Voltage Transformer Market
- 7.3.5. South Korea Voltage Transformer Market
- 7.3.6. Rest of Asia Pacific Voltage Transformer Market
7.4. Latin America Voltage Transformer Market
- 7.4.1. Brazil Voltage Transformer Market
- 7.4.2. Mexico Voltage Transformer Market
- 7.4.3. Rest of Latin America Voltage Transformer Market
7.5. Middle East & Africa Voltage Transformer Market
- 7.5.1. Saudi Arabia Voltage Transformer Market
- 7.5.2. South Africa Voltage Transformer Market
- 7.5.3. Rest of Middle East & Africa Voltage Transformer Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. MPS Industries, Inc.
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. General Electric
- 8.3.3. ABB Group
- 8.3.4. PICO Electronics, Inc.
- 8.3.5. Custom Coils
- 8.3.6. Siemens AG
- 8.3.7. HD Hyundai Electric Co., Ltd.
- 8.3.8. Schneider Electric
- 8.3.9. Glen Magnetics Incorporated.
- 8.3.10. Pacific Transformer Corporation

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes

LIST OF TABLES

TABLE 1. Global Voltage Transformer market, report scope
TABLE 2. Global Voltage Transformer market estimates & forecasts by Region 2022-2032 (USD Billion)
TABLE 3. Global Voltage Transformer market estimates & forecasts by Voltage Type 2022-2032 (USD Billion)
TABLE 4. Global Voltage Transformer market estimates & forecasts by Application 2022-2032 (USD Billion)
TABLE 5. Global Voltage Transformer market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 6. Global Voltage Transformer market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 7. Global Voltage Transformer market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 8. Global Voltage Transformer market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 9. Global Voltage Transformer market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 10. Global Voltage Transformer market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 11. Global Voltage Transformer market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 12. Global Voltage Transformer market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 13. Global Voltage Transformer market by segment, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 14. Global Voltage Transformer market by region, estimates & forecasts, 2022-2032 (USD Billion)
TABLE 15. U.S. Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 16. U.S. Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 17. U.S. Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 18. Canada Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 19. Canada Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 20. Canada Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 21. UK Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 22. UK Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 23. UK Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 24. Germany Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 25. Germany Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 26. Germany Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 27. France Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 28. France Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 29. France Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 30. Italy Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 31. Italy Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 32. Italy Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 33. Spain Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 34. Spain Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 35. Spain Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 36. RoE Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 37. RoE Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 38. RoE Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 39. China Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 40. China Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 41. China Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 42. India Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 43. India Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 44. India Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 45. Japan Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 46. Japan Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 47. Japan Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 48. Australia Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 49. Australia Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 50. Australia Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 51. South Korea Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 52. South Korea Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 53. South Korea Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 54.
TABLE 55. RoAPAC Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 56. RoAPAC Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 57. RoAPAC Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 58. Brazil Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 59. Brazil Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 60. Brazil Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 61. Mexico Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 62. Mexico Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 63. Mexico Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 64. RoLA Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 65. RoLA Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 66. RoLA Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 67. Saudi Arabia Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 68. Saudi Arabia Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 69. Saudi Arabia Voltage Transformer market estimates & forecasts, 2022-2032 (USD Billion)
TABLE 70. South Africa Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 71.
TABLE 72. South Africa Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 73. South Africa Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 74. RoMEA Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 75. RoMEA Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 76. RoMEA Voltage Transformer market estimates & forecasts by segment 2022-2032 (USD Billion)
TABLE 77. List of secondary sources, used in the study of Global Voltage Transformer Market.
TABLE 78. List of primary sources, used in the study of Global Voltage Transformer Market.
TABLE 79. Years considered for the study.
TABLE 80. Exchange rates considered.

LIST OF FIGURES

FIG 1. Global Voltage Transformer market, research methodology
FIG 2. Global Voltage Transformer market, market estimation techniques
FIG 3. Global market size estimates & forecast methods.
FIG 4. Global Voltage Transformer market, key trends 2023
FIG 5. Global Voltage Transformer market, growth prospects 2022-2032
FIG 6. Global Voltage Transformer market, porters 5 force model
FIG 7. Global Voltage Transformer market, pestel analysis
FIG 8. Global Voltage Transformer market, value chain analysis
FIG 9. Global Voltage Transformer market by segment, 2022 & 2032 (USD Billion)
FIG 10. Global Voltage Transformer market by segment, 2022 & 2032 (USD Billion)
FIG 11. Global Voltage Transformer market by segment, 2022 & 2032 (USD Billion)
FIG 12. Global Voltage Transformer market by segment, 2022 & 2032 (USD Billion)
FIG 13. Global Voltage Transformer market by segment, 2022 & 2032 (USD Billion)
FIG 14. Global Voltage Transformer market, regional snapshot 2022 & 2032
FIG 15. North America Voltage Transformer market 2022 & 2032 (USD Billion)
FIG 16. Europe Voltage Transformer market 2022 & 2032 (USD Billion)
FIG 17. Asia pacific Voltage Transformer market 2022 & 2032 (USD Billion)
FIG 18. Latin America Voltage Transformer market 2022 & 2032 (USD Billion)
FIG 19. Middle East & Africa Voltage Transformer market 2022 & 2032 (USD Billion)
FIG 20. Global Voltage Transformer market, company market share analysis (2023)