Strategic Analysis of the Global Liquid-Immersed Transformers Market, Forecast to 2031

Liquid-Immersed Transformers Market: Introduction

  • A transformer is an electric device which is used to transfer electrical energy from one voltage to another. Liquid-immersed transformer and dry transformer are the two main types of transformers.
  • A liquid-immersed transformer is a transformer whose cores and coils are immersed in an insulating liquid such as oil which functions as the cooling/heat transfer medium, and the insulator controls stray currents. An insulating oil remains stable at high temperatures and has excellent electrical insulating properties. The main purpose of using a liquid-immersed transformer is to remove the waste heat dissipated from the transformer windings with the help of transformer oil and conduct it to the outside of the transformer.
  • Liquid-immersed transformers are of two types, power transformer and distribution transformer. Power transformers are used in transmission network of higher voltage for step-up and step-down applications. Distribution transformers are used in transmission networks of lower voltage applications.
  • Liquid-immersed transformers consist of a transformer tank, high voltage and low voltage bushing, cooling radiator, cooling fans, conservator tank, oil temperature/pressure gauges, system ground terminal, and drain valve. Liquid-immersed transformers are used in commercial, residential, and industrial applications as it offers good reliability, efficiency, and durability.

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Rise in Demand for Liquid-Immersed Transformers in Solar and Electrical Industry

  • The major factor driving growth of the global liquid-immersed transformer market is the increasing use of the transformer in various applications such as residential, commercial, and industrial processes.
  • A liquid-immersed transformer is used to reduce the short circuit and transmission losses in high voltage transmission that have mineral oil as an electric insulating medium. In addition, liquid-immersed transformers are cheaper compared to dry transformers. Considering these factors, the liquid-immersed transformers market is expected to show significant growth during the forecast period.
  • Increase in demand for kilowatt hour (kWh) that is a unit of energy, along with increasing cost of space, specifically in urban areas is expected to lead to substantial growth prospects for the liquid-immersed transformer market. Along with this, evolution of eco-efficient power transformers and increasing popularity of bio-based and naphthenic transformer oil are trends in the liquid-immersed transformer market.
  • Wind, solar, geothermal, and hydroelectric are among the major forms of renewable energy. Power dependence on these renewable sources is increasing and installation of grids is necessary to generate power from these renewable sources, which is expected to drive demand for liquid-immersed transformers in the near future.

Asia Pacific to Lead the Global Liquid-Immersed Transformers Market

  • In terms of region, the global liquid-immersed transformers market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • Asia Pacific has the largest share in the global liquid-immersed transformer market owing to extensive demand for electricity due to a large population in the region.
  • The market in North America is expected to expand at a significant rate owing to high demand for solar energy in various household and commercial establishments.
  • The global liquid-immersed transformer market in South America and Middle East & Africa is also expected to expand at a significant rate owing to high demand in automotive, solar, and electrical applications in the regions.

Key Players in the Global Liquid-Immersed Transformers Market:

  • ABB
  • Crompton Greaves
  • Schneider Electric
  • General Electric
  • Siemens
  • VanTran Industries
  • MGM Transformer Company
  • Imefy Group

Global Liquid-Immersed Transformers Market, Research Scope

Global Liquid-Immersed Transformers Market, by Dielectric Fluids

  • Natural esters
  • Synthetic esters
  • Mineral oils
  • Silicone oils

Global Liquid-Immersed Transformers Market, by Application

  • Power transformers
  • Distribution transformers
    • Residential
    • Commercial
    • Industries

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