The global gas insulated transformer market is expected to grow at a CAGR of 4.61% from 2018 to 2023. Asia Pacific is predicted to hold the largest size of the gas insulated transformer market in 2018, followed by Europe and North America; this trend is expected to continue till 2023. The growth of the market in APAC is attributed to the rising investments in smart grid projects and increasing upgradation of transmission & distribution infrastructure, triggered by the rapid rate of urbanization and rising demand for energy.
The gas insulated transformer market is dominated by a few global players. The key players in the gas insulated transformer market include ABB (Switzerland), GE (US), Mitsubishi Electric (Japan), Siemens (Germany), Toshiba (Japan), and Arteche (Spain).
ajor strategies adopted by the players from 2014 to April 2018 are contracts and agreements, expansions, product launches, and mergers and acquisitions. Contracts and agreements were the most commonly adopted strategies. Industry players also adopted expansions, and product launches, which were the second and third most widely followed strategies, respectively, during the same period.
Toshiba was founded in 1875 and is headquartered in Tokyo, Japan. Toshiba is one of the leading manufacturers of electronic and electrical products. The company offers gas insulated transformers under its power transformer portfolio through its Energy Systems & Solutions segment. The company has adopted contracts and agreements as its key strategy. Toshiba, formed Toshiba Energy Systems & Solutions Corporation on October 2017, by spinning off its Nuclear Energy Systems & Solutions Division, and Energy Systems & Solutions Company from Toshiba Corporation. In August 2016, Toshiba Corporation’s subsidiary Transmission & Distribution Systems (India) Private Limited (TTDI) signed a memorandum of understanding with Kenya Power, to assist Kenya power in reducing their distribution losses in the national grid. Toshiba will provide gas insulated transformers, amorphous distribution transformers, and solid insulated switchgear as part of the agreement.
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General Electric Company (GE) was found in 1892 and is headquartered in Massachusetts, US. GE is a global digital industrial company that offers connected machines and delivers intelligent solutions. The company provides gas insulated transformers under its high voltage instrumental transformer portfolio, which is reported under its Power segment. The company aims to strengthen its competitive position in the market by adopting organic and inorganic growth strategies. GE has focused on its core industrial business and has invested in building new capabilities by creating value through technology. The company acquired the Power and Grid business of Alstom SA (France) for USD 10.6 billion in November 2015.
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
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