Stratview Research, a global market research firm announces the release of the report titled – Oil Filled Transformer Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

According to this report, the oil filled transformer market was estimated at USD 38 billion in 2022 and is likely to grow at a CAGR of 6.79% during 2022-2028 to reach USD 56.36 billion in 2028.

What is oil filled transformer?

The oil filled transformers are transformers whose windings and magnetic circuits are absorbed in oil with good electrical insulating properties to wedge the flow of current through the oil.

Stratview Research has segmented the market by Core Type (Closed, Shell, and Berry), by Product Type (Distribution Transformer, Power Transformer, Instrument Transformer, and Others), by Winding Type (Two Winding and Auto Transformer), by Installation Type (Outdoor and Indoor), by Modes of Cooling Type (Oil Natural Air Natural (ONAN), Oil Natural Water Forced (ONWF), Oil Natural Air Forced (ONAF), and Others), by Phase Type (Three Phase and Single Phase), by Mounting Type (Pad, Pole, Foundation, and Others), by Rating Type (< 5 MVA, 5 to 10 MVA, and >10 MVA), by Substation Connectivity Type (Distribution and Transmission), by Application Type (Residential & Commercial, Utility, and Industrial), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Key Players

• ABB Ltd
• CNC Electric Group Co., Ltd.
• Eaton Corporation plc
• Elsewedy Electric Co S.A.E.
• General Electric
• ISMET Gmbh
• Ormazabal
• Schneider Electric SE
• Siemens AG
• Toshiba Corporation.

Market Dynamics

The growth of the oil filled transformer market is primarily driven by-

• Development of effective grid systems due to increasing spending on the upgrading of electric infrastructure,
• Initiatives to rejuvenate power grids and make them sustainable, resilient, and affordable,
• Growing electricity demand.

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Segment Analysis

Based on the core type, the market is segmented as closed, shell, and berry. Shell segment is projected to witness a strong growth rate in the market owing to the development of HVDC networks to fulfill the continuously increasing electricity demand. Furthermore, the widespread application of shell transformers across higher power ratings and higher voltages, and their special design, which gives them innately better kVA to weight ratio, improved immunity to transit damage, and healthier short circuit strength features will boost the product demand during the forecast period.

Based on the product type, the market is segmented as distribution transformer, power transformer, instrument transformer, and others. The power transformer is anticipated to be the leading segment of the market owing to the growing need for a competent transmission system to safeguard a reliable power supply. In addition, optimistic leaning towards the development of high voltage lines to accommodate the surging electricity demand across developed economies will fuel the segment growth over the forecast period.

Based on the installation type, the market is segmented as outdoor and indoor. The outdoor segment is likely to take the lead in the market on account of its ability to function at high voltage application ranges. In addition, along with offering optimum cooling strength they also mitigate the concerns relating to the dangers of fire, which boosts their demand, thus driving the overall industry growth during the forecast period.

Based on the phase type, the market is segmented into three phase and single phase. Three-phase transformers are expected to be the bigger segment of the market during the forecast period owing to the advantageous regulatory policies for the upgradation of small-scale industrial sectors across developing economies. Furthermore, the ability of three-phase transformers to run smoothly over voltages transmitted over long distances paired with their economic viability will further promote product adoption.

Based on the application type, the market is segmented as residential & commercial, utility, and industrial. The utility is estimated to be the leading segment of the market given the growing R&D spending aimed at the restoration of grid infrastructure coupled with huge fund distribution by regulatory authorities for the development of grid networks, which will further promote the industry landscape.

In terms of regions, North America is estimated to be the leading region in the market owing to the ongoing technological improvements blended with amplified spending for the development of long-distance electricity networks in the US. On the other hand, Europe and the Middle East are also expected to offer substantial growth opportunities during the forecast period.

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