Market Research Blog

Steel drums have emerged as preferred rigid packaging solutions as they are increasingly used for transporting hazardous and non-hazardous material. According to a study by Future Market Insights (FMI), the steel drums market is forecast to register steady growth on the back of increasing applications in industries such as chemicals, food & beverages, petroleum & lubricants, healthcare & personal care, building & construction, paints, inks, & dyes, and others. Driven by this, the steel drums market is forecast to reach nearly US$ 11. 4 Bn by 2021.

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Steel Drum Market Landscape :
Greif Inc., Mauser Packaging Solution, and SCHÜTZ GmbH & Co. KGaA are the top players operating in the steel drum market. Furthermore, Time Technoplast Ltd., Balmer Lawrie & Co. Limited, Nippon Steel Drums Co. Ltd., are some of the companies operating in the steel drum market. The Tier 3 players in the market hold 75-80% in the global steel drum market.

Growth forecast for the market remains positive in response to the consistently rising demand for safe & secure and cost-effectiveness solutions. Steel drums are often preferred for transporting chemicals because they are environmentally friendly, fire resistance, and have various other advantages. Considering the availability, steel drums are available in two different materials, stainless steel and carbon steel. Of these, carbon steel is preferred more.

“Companies operating in the market are focusing on improving designs of steel drums to make them more light-weight, efficient, and cost-effective. Also they are focusing on expanding footprint via strategic collaborations,” says an FMI analyst.

Over the past few years, the steel drum is gaining popularity among various end-use industries especially for storage and transportation of liquid materials as it offers safe and secure packaging solution. Also, rising concerns about sustainability is creating growth opportunities. Future Market Insights forecasts the market to continue growing at a positive rate between 2021 and 2031.

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Key Takeaways from Steel Drum Market:
Driven by rising demand for effective packaging solutions, steel drums market will rise at 5% CAGR between 2021 and 2031

Within the U.S., the chemicals industry will account for maximum sales of steel drums

Moderate growth is likely in the U.K. market, driven by increasing application in chemicals and petroleum & lubricants industries

Germany and France will remain highly lucrative markets for steel drums within Europe

Exceptional growth is likely in China, as demand continues increasing across diverse industries including chemicals, paints, inks & dyes, and petroleum & lubricants sectors

Steel Drum Market by Category-

Capacity:
55 Gallon Steel Drum
Other than 55 Gallon Steel Drum

Head Type:
Tight Head Steel Drum
Open Head Steel Drum

Material:
Carbon Steel
Stainless Steel

End-Use:
Chemicals
Petroleum & Lubricants
Paints, Inks, & Dyes
Food & Beverages

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Rise in Demand for Steel Drum in Chemical Sector Augmenting Sales :
The demand for steel drums in the chemical industry is rising due to the changing way of industrial packaging solution by pooling and leasing the containers and drums. The standards for using steel drums are set by various countries and various regulations such as the U.S. Department of Transportation (DOT), United Nations regulations. Majorly the steel drums are used by the chemical industry to store and transport hazardous and non-hazardous materials.

Also, the steel drum offers high safety and easy warehousing benefit which bolster their demand in the chemical industry. The steel drum is highly used for liquid chemicals in the global industrial packaging market. The chemical segment is expected to hold more than 35% of the steel drums market and estimated to witness faster-growing demand in the next five years, owing to favourable transportation regulations and international trad

The pharmaceutical packaging market is  registering an increasing demand for anti-counterfeiting solutions and child protective packaging. In the pharmaceutical industry, counterfeiting has emerged as a major concern for manufacturers and consumers.

Given this,  anti-counterfeiting technologies such as barcodes,  labels and tags are attracting attention among manufacturers. According to a recent report by Future Market Insights (FMI), driven by technological advancements,  pharmaceutical plastic bottle  sales will grow at a CAGR of 10.3% between 2021 and 2031. The market is expected to reach a value of over $79 billion in 2031.

The increasing number of cases of child poisoning due to accidental ingestion of pharmaceuticals has helped introduce child-resistant packaging solutions. These products are typically available in two-piece push-and-turn technology for bottle closures.

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Currently, most promising drugs are available in children’s packaging, which has a major impact on sales of pharmaceutical plastic bottles. There is a constant need for innovation among industry players to sustain itself in an extremely competitive market.

For example,  the introduction of RFID to replace traditional barcodes  aims to increase the convenience of tracking and tracking products. QR codes are the newest addition to the pharmaceutical bottle industry, where they are used for multiple purposes, such as displaying detailed product information, tracking products through the supply chain, or as a means of maintaining logs in pharmacies.

Innovations that increase the utilization of recycled materials are also accelerating in the market. These innovations and technological advances are contributing to progress.

For example, in January 2020, Gerresheimer AG  announced that it would provide customized rigid plastic packaging solutions, including pharmaceutical plastic bottles made from BIO-PET and  R-PET .

Key highlights of the Pharmaceutical Plastic Bottles Market study:

• Demand for plastic bottles for ophthalmic/nasal formulations will increase to 12.7% during 2021-2031, driven by increased application of corticosteroid drugs.
• Polyethylene terephthalate (PET)  is expected to account for a dominant share of 30.8% in 2031 as a result of regulations and restrictions on the use of plastics.
• Bottles with a capacity of less than 100ml are projected to increase the opportunity to $28.1 billion over the next five years.
• The US will account for more than 82% of the North American market in 2021. However, the country is likely to lose its share of value to active Canadian industries by the end of 2031.
• China and India will remain lucrative markets due to their large patient populations and investments from the local pharmaceutical industry.

“Pharmaceutical plastic bottles are a relatively economical, lightweight and convenient packaging solution compared to pharmaceutical glass bottles. These products are gaining popularity among manufacturers and consumers. Consumers often choose plastic bottles to avoid the risk of breakage. These factors are expected to drive demand through 2031,” said an FMI analyst.

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Impact of COVID-19 on Pharmaceutical Plastic Bottle Market

The ongoing COVID-19 pandemic has had a negative impact on the packaging industry. Any losses incurred may be due to logistical restrictions and worldwide imposed closures.

Production output has declined due to reduced production capacity and delayed supplies of raw materials. Manufacturers in the pharmaceutical plastic bottle industry have struggled to meet the sudden increasing demand in the market.

With continued easing and unlocking of transport restrictions, the market is expected to grow steadily through 2021 and beyond.

Who is the winner?

Tier 3 players in the pharmaceutical plastic bottle market account for 75-85% of the overall value share. The major players contribute 15-25% of the global market. Strategies related to capacity expansion and investment in product development will gain attention from the industry.

Berry Global Inc.  , Amcor Plc,  ALPLA Werke Alwin Lehner GmbH & Co KG  is a leading player operating in the pharmaceutical plastic bottle market. Additionally, AptarGroup, Inc., O. Berk Company, LLC, Alpha Packaging Holdings, Inc., Comar, LLC are some of the notable players in the pharmaceutical plastic bottle market.

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Glazed bricks have been widely used to enhance the interiors as well as the exteriors of houses. They come in a wide range of colours and provide an improved aesthetics to buildings, during new constructions as well as brickwork restoration. These bricks do not only give the constructed buildings an exquisite and polished look, but also provide durability and strength.

Glazed bricks have been extensively used in both historical as well as modern building projects. Glazed bricks make a durable, permanent and non-fading wall systemresistant to liquids and gases. They are easy to maintain and clean – especially with respect to dirt and graffiti removal. They have hightolerance against abrasion and impact. In addition to the above-stated benefits, glazed bricks also have an added advantage of being customizable for various designs and shapes.

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Glazed Bricks Market: Market Dynamics

Rapid urbanization and increased construction projects across residential and commercial sectors are the factors working in favour of the glazed bricks market. Another factor promoting the growth of the Glazed Bricks market is increasing government expenditure on infrastructural development such as municipal buildings, railways station, schools, offices, etc. These buildings need building material that can be easily cleaned, requires less maintenance and offer extended durability – glazed bricks are an apt choice to this purpose.

However, the prevalence of stringent government regulations in developed countries related to high toxicity of the product is expected to hinder the growth of glazed bricks market over the forecast period. The manufacturing cost of glazed bricks is relatively inexpensive as compared to its transportation cost. Due to the high transportation cost the sales of glazed bricks have been constricted to high end urban regions. The aforementioned factors can act as a restraining factor for the dominant players and meanwhile, act as an opportunity for local market players. Also, only a small fraction of the glazed bricks industry is in international trade.

Furthermore,in order to maintain the glazed bricks market growth and for these bricks to remain in trend, manufacturers are emphasizing on low-cost, eco-friendly materials through focus on R & D and product development activities.

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Glazed Bricks Market: Regional Outlook

Asia pacific holds a major share in the global Glazed bricks market and is followed by East Europe, West Europe, South America and Central America. Increased construction in the Asia Pacific region in countries such as India and China has turned the region into a major consumer market for glazed bricks and the glazed bricks market is expected to grow further during the forecast period in this region.

Increased construction and low raw material and labour costs in this region have impelled key players to shift their manufacturing units to this region. North America will show less demand owing to stringent environmental laws. However, many dominant players in the glazed bricks market are investing heavily on R & D to develop eco-friendly glazed bricks to reduce the emission of greenhouse gases.

Glazed Bricks Market: Associated Players

Some of the key participants associated with the glazed bricks market are:-

• The Belden Brick Company
• Glen-Gery Corporation
• ELGIN BUTLER COMPANY
• Vintage Brick
• Pacific Clay Products
• Ibstock
• Euroa Clay Products
• Fireclay Tile
• MARCO POLO
• Kito
• Cimic
• Dongpeng

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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The report covers exhaust analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The 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.

Fermentation chemicals are a necessary ingredient in the manufacturing of green bio-based products. With stringent environmental regulations being imposed by regulatory authorities in developed regions such as Europe, the demand for these products is forecasted to increase many folds during the forecast period. Ecological concerns are expected to drive demand for the fermentation chemicals market since these chemicals are environment-friendly and can be adopted in a number of industrial applications.

There has also been a rise in the demand for fermented alcohols globally, which is anticipated to propel the demand for fermentation chemicals as a raw material. For instance, the demand for fermentation chemicals has increased steadily due to its application as a raw material in the plastic, rubber, textile, leather and chemical industry. This trend is expected to continue in the near future, thereby driving the demand of fermentation chemicals globally.

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Regulations formulated by agencies such as the European Commission and EPA categorically encourage green chemistry, which in turn can be supported by the use of fermentation chemicals. Rising awareness among end-users regarding the benefits of using bio-based products has also been pushing the demand for fermentation chemicals. Owing to these factors, among many others, the fermentation chemicals market is forecasted to be an attractive market over the forecast period.

However, it should also be noted that raw materials used in the manufacturing of fermentation chemicals, such as micro-organisms and nutrients, represent an irregular supply in addition to the complex nature of the manufacturing process and the subsequent high production cost. Also, the economic viability of the usage of fermentation chemicals or rather, the global fermentation-based chemical industry would depend on the price levels of alternative feedstock and comparative product yields.

Market Definition

Fermentation chemicals, as the name suggests, are used in the fermentation process to help increase the pace of the process. They play a vital role as process initiators in an array of applications. They act as catalysts or process-enhancing chemicals and hence contribute in considerably reducing the manufacturing cost, chemical reaction time (fermentation time) as well as energy consumption; thus making the fermentation process more economically attractive. Owing to their natural structure, low cost and productivity enhancing features, fermentation chemicals find applications in a multiple of industries worldwide.

Key Trends, Drivers

In the recent past, a large share of the global fermentation chemicals market has been contributed by alcohols, followed by enzymes and organic acids. Worldwide, there has been an increase in the manufacturing of antibiotics and steroids, which in turn involves the use of fermentation chemicals as a raw material. There has also been a burgeoning demand for fermentation chemicals in the form of enzymes from various manufacturing processes, such as in the manufacturing of paper, personal care products and starch.

It is forecasted that the demand for organic acids as fermentation chemicals will witness high growth in the upcoming years, owing to their increased application in oil and gas well treatment processes in the petroleum industry. Also, the growing market of preserved and nutritional foods involves the consumption of organic acids and hence is expected to boost demand for the organic acids segment yet further. Fermentation chemicals are also important raw materials in the manufacturing of pet food; hence, the rise in demand for animal feed additives worldwide is expected to further fuel the fermentation chemicals market.

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Market Participants

Examples of some key market participants in the global fermentation chemicals market are as follows:

• Ajinomoto Company Incorporation
• BASF SE
• The Dow Chemical Company
• Novozymes A/S
• Cargill Inc.
• Evonik Industries
• Du Pont Danisco A/S
• Amano Enzyme Inc
• Archer Daniels Midland
• AB Enzymes

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.

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The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Value Chain

Regional analysis includes:

• North America
• Latin America
• Asia Pacific
• Japan
• Western Europe
• Eastern Europe
• Middle East & Africa

The 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 an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.

Chemical indicator inks are used for monitoring sterilization process, and form a key component of chemical indicators. They are of the type that change colour in order to indicate successful sterilization of surgical equipment/accessory. When exposed to a specific type of sterilant, at pre-defined temperature conditions, they experience a permanent colour change.

One of the most vital processes carried out in the healthcare industry is the sterilization process. It directly influences safety of the patient as apt sterilization of surgical instruments, equipment and supplies are applied in direct patient care and surgery. Chemical indicators happen to be primary products that are used to confirm effectiveness of the sterilization process. This not only ensures the effective sterilization of surgical instruments and devices, but also helps assess the level of sterilization achieved.

The chemical indicator inks market is also expected to be driven by the application of chemical indicator inks in the growing food canning industry, where meat, fish and other perishable food items are processed. All these factors make the study of the chemical indicator inks market a vital need.

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Chemical Indicator Inks Market: Key Trends, Drivers

The rising incidences of nosocomial infections and diseases at a global level is expected to increase the importance of even more stringent sterilization needs than in the past. Besides, regulatory bodies worldwide including the EU and EPA have recently been imposing strict regulations for mandatory sterilization for a wide range of surgical products. These factors are expected to drive the demand for chemical indicator inks at a global level.

It is expected that the market share of water-based chemical indicator inks would rise as stringent environmental regulations pertaining to emission of volatile organic compounds are expected to be on the rise in the near future, and that water-based chemical indicator inks conform to the relevant norms, when compared to other product segments. It has also been observed that superior product properties including better surface appearance, flow behaviour, improved colour and ink performance have been dictating the rising demand for chemical indicator inks.

Amongst the sterilization processes applicable to chemical indicator inks usage, steam sterilization is free from toxic content, thereby making the sterilization processes extremely safe for instruments used for surgery. Hence, it is one of the most preferred techniques in the sterilization applications and also on all critical objects that are resistant to moisture and heat.

The market share for flexographic printing is expected to increase over the next few years as it is expected that there would be preference for eco-friendly composition of chemical indicator inks through water-based formulation – a key aspect of flexographic printing. However, the market share for rotogravure printing may rise only negligibly or not rise although the formulation for rotogravure printing is very identical to that of flexographic printing, due to more expensive printing components.

In the coming few years, effortlessness of usage and instant identification of completion of the sterilization process is expected to drive the demand for tapes in the chemical indicator inks market.

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Chemical Indicator Inks Market: Market Participants

Examples of some of the market participants in the global chemical indicator inks market are as follows:

• North American Science Associates Inc. (NAMSA)
• RIKEN CHEMICAL Co., Ltd.
• 3M
• Tempil (LA-Co Industries)
• NiGK Corporation
• SteriTec Products Inc.
• Propper Manufacturing Company, Inc.
• ETIGAM bv
• Terragene SA
• gke GmbH
• STERIS Corporation
• Crosstex International Inc. (subsidiary of Cantel Medical Corporation)

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report covers exhaust analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes:

• North America (U.S., Canada)
• Latin America (Mexico. Brazil)
• Western Europe (Germany, Italy, France, U.K, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

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The 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.

Electrification efforts of emerging economies are providing a progressive platform to electrical testing services market. The developments in electricity infrastructure of the countries is thriving at rapid pace, and the move is intended to provide affordable and uninterrupted electricity to different parts across the globe. This also demands installation of power transmission equipment such as transformers, which will have a direct impact on the demand for electrical testing services market.

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According to a recent market forecast by Future Market Insights, the global electrical testing services market is expected to reach a market value of over US$ 7,800 Mn by the end of 2028, witnessing a robust growth rate of over 6.9% during the forecast period 2018-2028. The growth of market is also reinforced by the outburst in demand for green energy or renewable energy sources such as wind, solar and hydro. With the increase in demand for the green energy, the market will also witness a significant rise in demand for electrical testing services market in the near future.

Rapid Urbanization to Help MEA Mark Highest Growth Rate in Coming Years

With greater scope for development, MEA stands out to be the fastest growing region in the global electrical testing services market. Growing industrialization and urbanization will support the growth of electrical testing services in the global market over the forecast period. Thus, emerging regions that are still going under the installation processes provide a better scope for electrical testing services market. According to the International Energy Agency (IEA), by the end of 2030, 600 million out of the total 674 million people without the access to electricity live in Sub-Saharan Africa, a majority of them in the rural areas. Attributing to this, Africa provides immense opportunities for service providers to augment their business capabilities in the region. India stands out in terms of growth in electrification rate across the country. According to IEA, half a billion people have gained electricity since 2000. In India, the electrification rate is nearly about 82% and with ongoing government initiatives, India will achieve universal access to electricity by 2020s. This is expected to open up new horizons for the augmentation of the electrical testing market in India.

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Electrical Testing Services Market Taxonomy

By Service Type

Transformer Testing Circuit Breaker Testing Protection Testing Battery Testing

By End User

Power Generation Stations Transmission & Distribution Stations Steel Plants Major Refineries Railways

Region

North America Latin America Western Europe Eastern Europe SEA and Other Pacific China India Japan MEA

Personnel safety stands out to be the foremost factor that maintains the prevalence of electrical testing market

Unchecked electrical equipment has a greater probability of causing dangerous situations such as current leakage, short circuiting, faults in wiring, leakage of lubricants, transformer oil and equipment par corrosion. Significant number of deaths in industries are caused by faulty electrical equipment such as transformers, gas circuit breakers and rectifiers.

These faulty equipment pose the hazard of causing both electrocution as well as generation & propagation of fire. Growing dependency of large institutes such as power generation plants, manufacturing industries, and oil refineries on testing of the electrical equipment will continue to boost the electrical testing services market. Some other advantages, including improved life of the equipment.

Certification by Testing Services Bolsters Market Presence of Companies in the Global Market

Regular testing of the huge electric equipment becomes necessary as steel plants, and other heavy industrial equipment are particularly large in size and cumbersome to handle with. Replacement of these equipment on the account of failure usually takes months or sometimes years based on the original specifications, whereas regular testing helps avoiding failures. The testing services work in accordance with the testing standards laid down by reputed national and international accreditation bodies. The testing service providers can significantly improve its service quality and leapfrog other players in market recognition if it complies and provide certifications of InterNational Electrical Testing Association (NETA), Bureau of Indian Standards (BIS), and Electrical Research & Development Association (ERDA).

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Some recent trends such as growth of transmission and distribution network are also capable of bringing in revolutionary growth of global electric testing services market. The coming years will give a clear picture of many such influencers of electrification and electrical testing services market.

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The power transformer market exhibited year-on-year growth of 4% in 2021, backed by increasing efforts towards incorporating modern energy solutions in existing power system and high demand of efficient and reliable power supply. Future Market Insights (FMI) states that, power transformer market revenue grew by 10% between 2019 and 2021, reaching US$ 21.9 billion in 2021 with a healthy CAGR of 4.6%.

Focus on upgrading the existing power grid network with modern energy technology for flexible, secure, efficient, and reliable supply of power will emerge as a chief growth driver.

Transformers are critical component in power transmission system as their main function is to receive power with low voltage and transmit it across various distribution channels in power grid. Increasing demand for electricity, increasing investment to expand transmission and distribution network will drive the power transformer market growth in upcoming years.

For instance, as of 2021 Adani power has around 5 ongoing power projects with capacity ranging from 1300 MW to 2700 MW in Indian states of Rajasthan, Madhya Pradesh, Gujarat, Karnataka, and Jharkhand. Rise in number of new power projects in developing countries will boost the market sales over the forecast period.

Rising urgency to replace the aging power infrastructure with smart grid system along with increasing penetration of renewable energy and development of interconnected grid infrastructure are key growth drivers in developed economies.

Future prospects look promising for power transformer market due to thriving construction and mining industries, emergence of new smart cities with modern power transmission system and adoption of green transformers.

Market players are focusing on developing power transmission systems capable of handling flow of stored and renewable energy throughout the grid system. Advancement towards designing system for efficient management of electricity transmission and distribution as a part of disaster recovery efforts along with redefining electrical grids to reduce operational costs and lead times will positively influence the market growth in the future.

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Key Takeaways from FMI’s Power Transformer Market Study

• North America power transformer market is forecast to experience growth at 3% CAGR due to rising necessity to replace old power grid networks with modern and efficient equipment and increasing supply and demand gap of electricity in U.S. and Canada.
• Europe power transformer market is anticipated to grow at 3.2% CAGR during the forecast period. Growth uptick can be attributed to rapid electrification and increasing investment towards upgrading transmission and distribution networks in the region.
• Growing awareness among population regarding CO₂ emission, increase in consumption of electricity, and increasing efforts towards electrification of rural areas will drive the demand for power transformers in India.
• China is expected to offer lucrative opportunities owing to increasing investment in power grid infrastructure development and booming mining and oil and gas industries in the country.
• Japan and South Korea account for 7% of global power transformer market share in 2021. Industrialization, increasing efforts to fill the energy supply and demand gap, and imposition of energy efficient laws and standards are key growth drivers in these countries.

“Increasing demand for upgrading traditional transmission system to sustain high voltage power transfer and incorporation of smart grids will boost the demand for power transformer in upcoming years,” says the FMI analyst.

Key Segments Covered In Power Transformer Market Study:

By Product Type:

• Core
• Shell

By Insulation Type:

• Dry
• Wet

By Phase Type:

• Single Phase
• Three Phase

By End Use:

• Residential & Commercial
• Utilities
• Industrial

By Voltage Type:

• 100-200kV
• 200-400 kV
• Above 400 kV

By Application Type:

• Generation Step-up
• Transmission

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

Who is Winning?

Future Market Insights highlights the key trends emerging in the power transformer market and discusses the strategies employed by market players to strengthen their market position.

Leading market players account for 35% global market share. They are focusing on new product development like green transformers to reduce the carbon footprint and are also emphasizing on establishing production and supply operations in key high-demand demographics like South East Asia. In addition, key players have been increasing production outputs and moving manufacturing plants to developing countries to reduce lead times and operation costs.

For instance, in July 2021, General Electric won orders for manufacturing 45 units of 765 kV transformers from Power Grid Corporation of India Limited (PGCIL) for the new sub stations to be constructed in Rajasthan, India. The new transformers will dissipate around 8.1gigawatt (GW) of green power from the state’s solar energy zones.

In March 2021, First Philec Inc. announced to launch super green transformer by the end of 2021. First Philec Inc. is a unit of First Philippine Holdings Corp. and one of the leading manufacturers of high efficiency transformers in South East Asia region. The super green transformer will be made of recyclable and biodegradable materials.

Hitachi ABB Power Grids launched two new traction transformers, “RESIBLOC® CRail 25 kV” and “Natural Cooling Effilight® Traction Transformer” in June 2021. The latter model replaces traditional cooling module with natural airflow system. It uses a state of the art cooling system that harnesses natural air flow from the train’s motion and sends it to heat exchanger thus eliminating the need for air fans.

Prominent players operating in the power transformer market are:-

• ABB
• General Electric
• Siemens AG
• Toshiba Corporation
• Schneider Electric

More Insights On The Power Transformer Market

In its latest report, FMI offers an unbiased analysis of the global power transformer market, providing historical data for the period of 2019-2029 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of by product type (core and shell), by insulation type (dry and wet), by phase type (single phase and three phase), by application type (generation set-up and transmission), by end use ( residential & commercial, utilities, and industrial), by voltage type (100-200kV, 200-400 kV, and above 400 kV) and by region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa)

About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry