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Step Up and Step Down Transformer Market Segmented By Small, Medium and Large rating for Step-down and Step-up output
After the commercialization of the smart grid technology and the deployment of such grids all over the world, there has been an upsurge in demand for the step up and step down transformer. Step up and step down transformer being one of the fundamental part of the electrification systems has found its new role in the globally popular grid network which is increasing its demand and bringing new growth opportunity for step up and step down transformer.
Step up and step down transformers are used at different places for different functionality. Step-up transformers are used at power stations where they are used to produce very high voltages needed for the transmission of electricity through the national grid power lines.
As there high voltages are dangerous to be used in the home, so the step-down transformers are used locally to reduce the voltage to safe levels. These plays a very important part in the electrification process as without step-up transformers, it would be very difficult and complex to provide electricity to every area due to losses and without step-down transformer, it would be too dangerous to use the electrical products due to high voltage circuits which can lead to electric shocks.
Some of the drivers for the step up and step down transformer market is recent focus on power and industrial markets and continuous investment in the same. The other factors which are fueling the market growth is the deployment of the smart grids globally, which needs these step up and step down transformer for the distribution process and the renewable capacity addition and replacements.
The other factors which are driving the growth for step up and step down transformer are blanket agreements which spans multiple years, increased partnerships between EPCs and utilities, huge potential in HVDC market and introduction of transformer oil alternatives which absorbs the heat produced by the alternating current.
One of the restraint for step up and step down transformer market is the complex and time consuming process for the selection and deployment of these transformers due to the quality checks and regulation involved.
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Some of the key players of the step up and step down transformer market are: ABB, Siemens, General Electric, Schneider Electric, CG Power and Industrial Solution Limited, Hammond Power Solutions Inc., Mitsubishi Electric Power Products Inc., SPX Transformer Solutions Inc., Eaton, WEG, Fuji Electric, Hyosung Power & Industrial Systems Performance Group, Kirloskar Electric, MGM Transformer Company, Prima Transformers, Synergy Transformers, Virginia Transformer, and Others.
On the basis of geography, step up and step down transformer market can be segmented across North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa. Among various regions, East Asia and South Asia are seen to be the largest markets and Indonesia is seen to be an emerging market with 500 generation and transmission projects lined up till 2025.
The MEA region is seeing a lot of movement for the step up and step down transformer market with Qatar and UAE having events like World Cup and Expo 2020 in Dubai.
The African countries are getting a lot of investment due to their delayed start in the transmission projects from China and other regions. The North America market for the step up and step down transformer market is seen to be leading followed by Europe and North America with significant countries being Germany, U.K. and others.
The step up and step down transformer market report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.