What is Transformer Services Market?
Transformers are widely used to provide a trouble-free supply of power with no interruptions. Transformer service providers offer various types of services from installation to monitoring and repair & maintenance of transformer assets. Due to the increasing demand of electricity and growing industrialization the end-users are looking best value services for their transformer assets to enhance system performance, efficiency, safety, and reduce downtime and huge failure of transformers.
The market study is being classified by Type (Power Transformer, Transmission & Distributor Transformer, Traction Transformer and Others) and major geographies with country level break-up.
ABB Ltd. (Switzerland), General Electric (United States), Siemens (Germany), Schneider Electric (France), BRUSH Group (United Kingdom), Bharat Heavy Electricals Limited (India), SPX Transformer Solutions, Inc. (United States), Eaton Corporation (Ireland), CG Power and Industrial Solutions (India) and RESA Power (United States) are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Transformer Services market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Transformer Services market by Type, Application and Region.
On the basis of geography, the market of Transformer Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Energy Demand and the Critical Need to Avoid Unplanned Outages
- Growing Need of Asset Uptime and to Maximize Return by Ensuring a High Reliability
- Increasing Use of Advanced Technologies like Digital Monitoring of Transformer Asset
- Government Initiatives towards the Electrification in Rural Areas
Market Leaders and some development strategies
In January 2021, RESA Power announced the acquisition of Western Utilities Transformer Service, Inc. to expand its business presence and strengthen transformer service capabilities. Western Utilities Transformer Service, Inc. provides testing, assembly, repair, rewinding, and oil processing services for utility substations and industrial transformers in the western region of the USA. The acquisition will allow RESA Power to meet the growing demand for best value transformer services.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Transformer Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Transformer Services Market?
"Increasing Energy Demand and the Critical Need to Avoid Unplanned Outages
" is seen as one of major growth factors of Transformer Services Market in years to come.
2. Can we have customized study for Transformer Services Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Transformer Services Market?
United States will lead Transformer Services Market in coming years.