Gas Insulated Transformer Market by Type (Instrument Transformer, Others), Voltage (Medium Voltage, High Voltage, Extra High Voltage), Installation (Outdoor, Indoor), End-User (Utility, Industrial, Commercial), and Region - Global Forecast to 2023
[138 Pages Report] The gas insulated transformer market is expected to grow from USD 2.66 Billion in 2017 to USD 3.45 Billion by 2023, at a CAGR of 4.61%, from 2018 to 2023. Factors such as no risk of oil leakage, space constraints in densely populated urban areas, government initiatives toward improving electrification rate, and rising electrical network expenditure are driving the gas insulated transformer market.
Objectives of Study
- To analyze and forecast the market for gas insulated transformer (GIT) in terms of value
- To provide detailed information on the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges
- To define, segment, and forecast the market by voltage, type, installation, and end-user
- To forecast the market size of segments with respect to the regions, namely, North America, Asia Pacific, Europe, and Rest of the World (RoW)
- To strategically analyze the market with respect to individual growth trends, future expansions, and contributions to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for the market leaders
- To analyze competitive developments, such as expansions, mergers & acquisitions, new product launches, and contracts & agreements (partnerships, collaborations, alliances and joint ventures) in the gas insulated transformer market
- To strategically profile key players and comprehensively analyze their market shares and core competencies
Research Methodology
This research study involved the use of extensive secondary sources, directories, and databases, such as Hoover’s, Bloomberg Businessweek, Factiva, and OneSource, to identify and collect information useful for a technical and commercial study of the gas insulated transformer market. Primary sources mainly include the industry experts from the core and related industries, preferred suppliers, manufacturers, distributors, equipment manufacturing companies, and gas insulated substation providers, as well as the experts from research centers, standards and certification organizations of companies, and organizations related to all the segments of this industry’s value chain. The points below explain the research methodology.
- Study of the annual revenues and market developments of the major players that provide gas insulated transformers
- Assessment of future trends and growth of gas insulated transformers categorized on the basis of voltage, type, installation, and end user.
- Study of the market-related contracts and developments by the key players in the gas insulated transformer market across different regions
- Finalization of overall market sizes by triangulating the supply-side data, which includes product launches, supply chain, and annual revenues of companies supplying gas insulated transformer products across the globe
After arriving at the overall market size, the total market has been split into several segments and subsegments. The figure below illustrates the breakdown of primaries conducted during the research study, based on the company type, designation, and region.
To know about the assumptions considered for the study, download the pdf brochure
Key players in the gas insulated transformer market are ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche (Spain), among others.
Target Audience:
The report’s target audience includes:
- Gas Insulated Transformer manufacturers, distributors, and suppliers
- Power generation companies
- Industry, energy, and environmental associations
- Raw material providers
- Government and research organizations
- Government and private utilities
Scope of the report:
-
By Voltage
- Medium Voltage (Up to 72.5 kV)
- High Voltage (72.5 kV to 220 kV)
- Extra High Voltage (Above 220 kV)
-
By Type
- Instrument Transformers
- Others
-
By Installation
- Indoor
- Outdoor
-
By End-User
- Utility
- Industrial
- Commercial
-
By Region
- Asia Pacific
- Europe
- North America
- Rest of the World
Note: “Others” includes power and distribution transformers Rest of the World includes the Middle East and Africa, and South America.
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for the report:
Regional Analysis
- Country-wise analysis can be extended by one country for every region
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
The gas insulated transformer market is projected to grow from USD 2.75 Billion in 2018 to USD 3.45 Billion by 2023, at a CAGR of 4.61%. Gas insulated transformers are compact in size and has no risk of oil leakage. These features has resulted in increasing demand of gas insulated transformers. The other factors such as rising electrical infrastructure investments and initiatives to improve electrification rate are further driving the market during the forecast period.
The report further segments the gas insulated transformer market based on voltage into medium, high, and extra high voltage. The extra high voltage segment is expected to be the fastest growing market during the forecast period. The market for this segment is primarily driven by the rapidly ongoing improvements in the T&D sector through the implementation of smart grid and smart metering technology. The medium voltage segment is projected to the largest market for gas insulated transformers during the forecast period. The medium voltage transformers offer electrical protection against overload currents, insulation failure, and emergency switching for the residential, industrial and commercial infrastructure.
The global gas insulated transformer market based on type has been segmented into instrument transformers and others. Other types of transformers include power and distribution transformers. Instrument transformers are expected to hold a larger share of the market, and is expected to grow at the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing emphasis on renewable energy generation and rising smart grid investments globally.
On the basis of installation, the gas insulated transformer market has been segmented into indoor and outdoor. The indoor installation is expected to be the fastest growing segment during the forecast period. Gas insulated transformers are preferred for installations in underground and indoor substations in urban areas due to their compact design. The construction of outdoor gas insulated transformers’ enclosure is aimed at protecting the apparatus from harsh environmental conditions, including possible contamination. Owing to such construction, these transformers are preferred for the transmission and distribution of electricity over a long distance.
The gas insulated transformer market has been segmented on the basis of end user into utility, commercial, and industrial. The utility segment is expected to account for the largest share of the market during the forecast period. The predicted growth of the market for this segment during the forecast years is attributed to the growing demand for reliable power supply and increasing investments in the power infrastructure. The growth of the commercial sector is driven by the rapid urbanization and the development of commercial trade hubs. The urbanization and increasing number of commercial trade hubs seeking for the options to curb operating expenses are expected to boost the growth of the market for the commercial sector.
In this report, the gas insulated transformer market has been analyzed with respect to 4 major regions Asia Pacific, North America, Europe, and Rest of the World. Rest of the World includes South America, and the Middle East and Africa. Asia Pacific is expected to dominate the market during the forecast period owing to the rise in investments in smart grid technologies and smart cities, along with the increase in the number of data centers, with a surge in IT hubs and commercial institutions. The countries such as China, Malaysia, Thailand, and Indonesia are increasing their power generation capacities to meet the elevating power demand. Europe is expected to be the second-largest region in the market owing to various government initiatives; for instance, the European Union (EU) has proposed a 20:20:20 plan that aims at reducing the greenhouse gas emissions, which, in turn, attracts its focus on renewable energy, further driving investments in the grid infrastructure.
The environmental regulations regarding the use of SF6 and high cost of equipment are major factors restraining the growth of the gas insulated transformer market. Some of the leading players in the market include ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche (Spain). These players have adopted growth strategies such as product launches, contracts and agreements, mergers and acquisitions, and expansions to capture a larger share in the market.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regional Segmentation
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 18)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Limitations
2.5 Assumptions
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 31)
4.1 Attractive Opportunities in the Gas Insulated Transformer Market
4.2 Market, By Type
4.3 Market, By Voltage
4.4 Market, By Installation
4.5 Market, By End-User
4.6 Asia Pacific Market, By Country and By End-User
4.7 Market, By Region
5 Market Overview (Page No. - 36)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 No Risk of Oil Leakage
5.2.1.2 Space Constraints in Densely Populated Urban Areas
5.2.1.3 Government Initiatives Toward Improving Electrification Rate
5.2.1.4 Rising Electrical Network Expenditure and Increasing Investments in the T&D Sector
5.2.2 Restraints
5.2.2.1 Environmental Regulations Regarding the Use of Sf6
5.2.2.2 High Cost of Equipment
5.2.3 Opportunities
5.2.3.1 Increasing Transformer Oil Theft
5.2.3.2 Adoption of Hvdc Technology
5.2.4 Challenges
5.2.4.1 Availability of Substitutes
5.2.4.2 Delay in Grid Expansion Projects
6 Market, By Voltage (Page No. - 43)
6.1 Introduction
6.2 Medium Voltage (Up to 72.5 Kv)
6.3 High Voltage (72.5 Kv to 220 Kv)
6.4 Extra High Voltage (Above 220 Kv)
7 Market, By Type (Page No. - 47)
7.1 Introduction
7.2 Instrument Transformer
7.3 Others
8 Market, By Installation (Page No. - 51)
8.1 Introduction
8.2 Indoor
8.3 Outdoor
9 Market, By End-User (Page No. - 55)
9.1 Introduction
9.2 Utility
9.3 Industrial
9.4 Commercial
10 Market, By Region (Page No. - 60)
10.1 Introduction
10.2 Asia Pacific
10.2.1 By Type
10.2.2 By Installation
10.2.3 By Voltage
10.2.4 By End-User
10.2.5 By Country
10.2.5.1 China
10.2.5.2 Japan
10.2.5.3 Australia
10.2.5.4 Rest of Asia Pacific
10.3 Europe
10.3.1 By Type
10.3.2 By Installation
10.3.3 By Voltage
10.3.4 By End-User
10.3.5 By Country
10.3.5.1 Germany
10.3.5.2 UK
10.3.5.3 Italy
10.3.5.4 The Rest of Europe
10.4 North America
10.4.1 By Type
10.4.2 By Installation
10.4.3 By Voltage
10.4.4 By End-User
10.4.5 By Country
10.4.5.1 US
10.4.5.2 Canada
10.4.5.3 Mexico
10.5 Rest of the World
10.5.1 By Type
10.5.2 By Installation
10.5.3 By Voltage
10.5.4 By End-User
10.5.5 By Region
10.5.5.1 Middle East & Africa
10.5.5.2 South America
11 Competitive Landscape (Page No. - 92)
11.1 Overview
11.2 Key Players & Market Concentration
11.3 Competitive Scenario
11.3.1 Contracts & Agreements
11.3.2 Expansions
11.3.3 New Product Launches
11.3.4 Mergers & Acquisitions
12 Company Profiles (Page No. - 98)
12.1 Benchmarking
(Business Overview, Products Offered, Recent Developments, and MnM View)*
12.2 Toshiba
12.3 Mitsubishi Electric
12.4 Siemens
12.5 ABB
12.6 GE
12.7 Arteche
12.8 Meidensha
12.9 Hyosung Corporation
12.10 Fuji Electric
12.11 Nissan Electric
12.12 Chint Group
12.13 Takaoka Toko Co., Ltd.
12.14 Yangzhou Power Electric Co., Ltd.
12.15 Kharkovenergopribor Ltd.
*Details on Business Overview, Products Offered, Recent Developments, and MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 129)
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Introducing RT: Real-Time Market Intelligence
13.5 Available Customizations
13.6 Related Reports
13.7 Author Details
List of Tables (69 Tables)
Table 1 Global Gas Insulated Transformer Market Snapshot
Table 2 Global Urban Population Overview, By Region - 1990, 2014, and 2050
Table 3 Global Access to Electricity, By Region (2016)
Table 4 Key Hvdc Projects By ABB
Table 5 Gas Insulated Transformer Market, By Voltage, 2016–2023 (USD Million)
Table 6 Medium Voltage: Market Size, By Region, 2016–2023 (USD Million)
Table 7 High Voltage: Market Size, By Region, 2016–2023 (USD Million)
Table 8 Extra High Voltage: Market Size, By Region, 2016–2023 (USD Million)
Table 9 Gas Insulated Transformer Market, By Type, 2016–2023 (USD Million)
Table 10 Instrument Transformer: Market Size, By Region, 2016–2023 (USD Million)
Table 11 Others: Market Size, By Region, 2016–2023 (USD Million)
Table 12 Gas Insulated Transformer Market, By Installation, 2016–2023 (USD Million)
Table 13 Indoor: Market Size, By Region, 2016–2023 (USD Million)
Table 14 Outdoor: Market Size, By Region, 2016–2023 (USD Million)
Table 15 Market, By End-User, 2016–2023 (USD Million)
Table 16 Utility: Market Size, By Region, 2016–2023 (USD Million)
Table 17 Industrial: Market Size, By Region, 2016–2023 (USD Million)
Table 18 Commercial: Market Size, By Region, 2016–2023 (USD Million)
Table 19 Gas Insulated Transformer Market Size, By Region, 2016–2023 (USD Million)
Table 20 Asia Pacific: Market Size, By Type, 2016–2023 (USD Million)
Table 21 Asia Pacific: Market Size, By Installation, 2016–2023 (USD Million)
Table 22 Asia Pacific: Market Size, By Voltage, 2016–2023 (USD Million)
Table 23 Asia Pacific: Market Size, By End-User, 2016–2023 (USD Million)
Table 24 Utility: Asia Pacific Market Size, By Country, 2016–2023 (USD Million)
Table 25 Industrial: Asia Pacific Market Size, By Country, 2016–2023 (USD Million)
Table 26 Commercial: Asia Pacific Market Size, By Country, 2016–2023 (USD Million)
Table 27 Asia Pacific: Market Size, By Country, 2016–2023 (USD Million)
Table 28 China: Market Size, By End-User, 2016–2023 (USD Million)
Table 29 Japan: Market Size, By End-User, 2016–2023 (USD Million)
Table 30 Australia: Market Size, By End-User, 2016–2023 (USD Million)
Table 31 Rest of Asia Pacific: Market Size, By End-User, 2016–2023 (USD Million)
Table 32 Europe: Market Size, By Type, 2016–2023 (USD Million)
Table 33 Europe: Market Size, By Installation, 2016–2023 (USD Million)
Table 34 Europe: Market Size, By Voltage, 2016–2023 (USD Million)
Table 35 Europe: Market Size, By End-User, 2016–2023 (USD Million)
Table 36 Utility: Europe Market Size, By Country, 2016–2023 (USD Million)
Table 37 Industrial: Europe Market Size, By Country, 2016–2023 (USD Million)
Table 38 Commercial: Europe Market Size, By Country, 2016–2023 (USD Million)
Table 39 Europe: Market Size, By Country, 2016–2023 (USD Million)
Table 40 Germany: Market Size, By End-User, 2016–2023 (USD Million)
Table 41 UK: Market Size, By End-User, 2016–2023 (USD Million)
Table 42 Italy: Market Size, By End-User, 2016–2023 (USD Million)
Table 43 The Rest of Europe: Market Size, By End-User, 2016–2023 (USD Million)
Table 44 North America: Market Size, By Type, 2016–2023 (USD Million)
Table 45 North America: Market Size, By Installation, 2016–2023 (USD Million)
Table 46 North America: Market Size, By Voltage, 2016–2023 (USD Million)
Table 47 North America: Market Size, By End-User, 2016–2023 (USD Million)
Table 48 Utility: North America Market Size, By Country, 2016–2023 (USD Million)
Table 49 Industrial: North America Market Size, By Country, 2016–2023 (USD Million)
Table 50 Commercial: North America Market Size, By Country, 2016–2023 (USD Million)
Table 51 North America: Market Size, By Country, 2016–2023 (USD Million)
Table 52 US: Market Size, By End-User, 2016–2023 (USD Million)
Table 53 Canada: Market Size, By End-User, 2016–2023 (USD Million)
Table 54 Mexico: Market Size, By End-User, 2016–2023 (USD Million)
Table 55 Rest of the World: Market Size, By Type, 2016–2023 (USD Million)
Table 56 Rest of the World: Market Size, By Installation, 2016–2023 (USD Million)
Table 57 Rest of the World: Market Size, By Voltage, 2016–2023 (USD Million)
Table 58 Rest of the World: Market Size, By End-User, 2016–2023 (USD Million)
Table 59 Utility: Rest of the World Market Size, By Region, 2016–2023 (USD Million)
Table 60 Industrial: Rest of the World Market Size, By Region, 2016–2023 (USD Million)
Table 61 Commercial: Rest of the World Market Size, By Region, 2016–2023 (USD Million)
Table 62 Rest of the World: Market Size, By Region, 2016–2023 (USD Million)
Table 63 Middle East & Africa: Market Size, By End-User, 2016–2023 (USD Million)
Table 64 South America: Market Size, By End-User, 2016–2023 (USD Million)
Table 65 Ge Was the Most Active Market Player, January 2014–April 2018
Table 66 Contracts & Agreements, January 2014–April 2018
Table 67 Expansions, January 2014–April 2018
Table 68 New Product Launches, January 2014–April 2018
Table 69 Mergers & Acquisitions, January 2014–April 2018
List of Figures (43 Figures)
Figure 1 Market Segmentation: Gas Insulated Transformer Market
Figure 2 Gas Insulated Transformer Market: Research Design
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions
Figure 7 Extra High Voltage Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 8 Instrument Transformer Segment is Expected to Dominate the Market in 2018
Figure 9 Outdoor Segment is Expected to Dominate the Market From 2018 to 2023
Figure 10 Utility Segment is Expected to Grow at the Fastest Rate in the Gas Insulated Transformer Market During the Forecast Period
Figure 11 Asia Pacific Dominated the Gas Insulated Transformer Market in 2017
Figure 12 Space Constraints in Densely Populated Urban Areas is Expected to Drive the Market, 2018–2023
Figure 13 The Instrument Transformer Segment is Expected to Dominate the Gas Insulated Transformer Market During the Forecast Period
Figure 14 The Extra High Voltage Segment is Expected to Grow at the Highest Rate During the Forecast Period
Figure 15 Outdoor Segment Dominated the Market in 2017 While Asia Pacific Dominated the Outdoor Segment
Figure 16 Utility Segment to Grow at the Highest Rate During the Forecast Period
Figure 17 China Accounted for the Largest Share of the Asia Pacific Market in 2017
Figure 18 Asia Pacific Market to Grow at the Highest Rate During the Forecast Period in the Global Gas Insulated Transformer Market
Figure 19 Rising Electrical Network Expenditure to Drive the Market
Figure 20 Growing Urbanization Trend, 1950–2050
Figure 21 Electrical Network Expenditure, By Region (%)
Figure 22 The Medium Voltage Segment is Expected to Have the Largest Market Share During the Forecast Period
Figure 23 The Instrument Gas Insulated Transformer Segment is Expected to Have the Largest Market Share During the Forecast Period
Figure 24 The Indoor Installation Segment is Expected to Have the Highest Growth During the Forecast Period
Figure 25 Asia Pacific is the Fastest Growing Region in Indoor Installation Market Segment, 2018–2023
Figure 26 The Utility End-User Segment is Expected to Account for the Largest Market Share, 2018–2023
Figure 27 Asia Pacific Dominated the Gas Insulated Transformer Market in 2017
Figure 28 Gas Insulated Transformer Market Size, By Region, 2018–2023 (USD Million)
Figure 29 Asia Pacific: Market Snapshot
Figure 30 Europe: Market Snapshot
Figure 31 Key Developments in the Gas Insulated Transformer Market, January 2014–April 2018
Figure 32 Key Players & Market Concentration, 2016
Figure 33 Toshiba: Company Snapshot
Figure 34 Mitsubishi Electric: Company Snapshot
Figure 35 Siemens: Company Snapshot
Figure 36 ABB: Company Snapshot
Figure 37 GE: Company Snapshot
Figure 38 Arteche: Company Snapshot
Figure 39 Meidensha: Company Snapshot
Figure 40 Hyosung Corporation: Company Snapshot
Figure 41 Fuji Electric: Company Snapshot
Figure 42 Nissin Electric: Company Snapshot
Figure 43 Takaoka Toko Co., Ltd.: Company Snapshot
Growth opportunities and latent adjacency in Gas Insulated Transformer Market