Converter transformer refers to the special transformer help in stepping the voltage of the AC supply in the network. This is designed for offering high current for industrial applications. Converter transformer is capable of operating with 12 pulses. This eliminates numerous harmonic current components by using a star-to-delta (wye-delta) connection of transformer winding. Owing to the growing demand for efficient power transmission solutions need for integration of smart grid technologies and rising government infrastructure will drive the market for converter transformer in the forecasted period. According to AMA Research, the market for Converter Transformer is expected to register a CAGR of 18.1% during the forecast period to 2027.
This growth is primarily driven by Growing Demand for Efficient Transmission Solution
|Volume Unit||K Units|
|Value Unit||USD (Million)|
|Key Companies in Study||ABB Ltd. (Switzerland), General Electric (United States), Tebian Electric Apparatus Stock Company Ltd. (China), Siemens AG (Germany), Crompton Greaves Ltd. (India), Bharat Heavy Electricals Limited (India), Toshiba (Japan) and Kirloskar Electric Company Limited (India)|
|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
The Heavy Electrical Equipment sector in the region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region.
Major Manufacturers, such as ABB Ltd. (Switzerland), General Electric (United States), Tebian Electric Apparatus Stock Company Ltd. (China), Siemens AG (Germany), Crompton Greaves Ltd. (India), Bharat Heavy Electricals Limited (India), Toshiba (Japan) and Kirloskar Electric Company Limited (India) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In 2021, General Electric has won several orders for high voltage converter transformers and nuclear reactors from Power Grid Corporation of India Limited (PGCIL), India's largest power transmission facility. and In 2020, ABB Limited supplies HVDC converter transformers to the Chinese power company SGCC (State Grid Corporation of China). ABB will supply three 800KV ultra-high voltage direct current (UHVDC) transmission links owned by SGCC, high voltage equipment and advanced high voltage direct current (HVDC) converter transformers.
- Growing Demand for Efficient Transmission Solution
- Rising Government Investments
- Technological Innovation Aimed At Improving Manufacturing Process
- High Capital Requirements
- Lack of Standardizations
OpportunitiesRising Concerns Towards High Power Transmission and Significant Rise in Offshore Wind Farms
ChallengesLengthy Approval Procedure for HVDC Projects
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the ReportAMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Converter Transformer Study Sheds Light on The Converter Transformer Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Converter Transformer industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Converter Transformer industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.