Transformers is an exciting product in the modern world. A full range of electrical and power distribution transformers suitable to almost all industrial, commercial and domestic applications. They provide the basic convenience and safety of standard transformers, but with added flexibility and safety. These flexible units allow for a number of applications and can be tailor-made to give maximum performance and safety. They are available in both open and liquid-immersed configurations and can be tailored to offer maximum efficiency and reliability, whilst reducing costs and waste. Transformers fitted into most domestic power distribution lines are typically available in two types namely open or enclosed transformer design.
Increasing consumption of electricity is expected to drive growth of the global liquid-immersed transformers market. Electricity consumption has increased in both developed and emerging economies over the years. According to the World Bank, electric power consumption in India reached 804.514 kWh per capita in 2014, increasing from 640.395 kWh per capita in 2010. According to the Our World in Data, in 2019, Asia Pacific consumed 71,544 TWh of energy. As a result of this, the demand for transformers, especially liquid-immersed transformers has increased significantly. Liquid-immersed transformers are more efficient and smaller than conventional transformers are suitable for indoor use due to low operating noise. Hence, such factors are expected to drive growth of the global liquid-immersed transformers market. Furthermore, rising energy-generating capacities of renewable sources are expected to propel the global liquid-immersed transformers market growth in the near future.
However, challenges associated with fire prevention due to the use of cooling-liquid medium may catch fire it is not protected adequately. Thus, these factors are expected to restrain growth of the global liquid-immersed transformers market. Among regions, Asia Pacific is expected to witness significant growth in the global liquid-immersed transformers market. This is owing to large scale requirements and the presence of the largest consumer base. Furthermore, North America is expected to register a robust growth rate, owing to increasing demand from various industries in the region.
Key companies involved in the global liquid-immersed transformers market are ABB, Siemens AG, CG, Schneider Electric, General Electric, China XD Group EREMU, CNC Group, Dandong Xintai Electric, and Elsewedy Electric.
For instance, in September 2020, Hitachi ABB Power Grids, a Switzerland-based company, launched the open and scalable TXpertTM Ecosystem for the digitalization of transformers.
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