2020 Oil Filled Transformer Market Research Report By Current & Future Trends, Statistics To 2024
Category: #technology  By Rahul Sankrityayan  Date: 2020-02-07
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2020 Oil Filled Transformer Market Research Report By Current & Future Trends, Statistics To 2024

The size of Oil Filled Transformer Market was registered at USD 33 billion in the year 2017 and is anticipated to cross USD 45 billion by 2024. Between the period 2018-2024, the Oil Filled Transformer Market is expected to register a CAGR of 6%.

The shifting focus toward the necessity of modern electric infrastructure has significantly elevated the oil filled transformer market dynamics in the recent years. In line with this, the supportive regulatory practices toward the refurbishment of existing grid networks have also been fueling the demand for oil filled transformers across the globe.

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  • Pages: 1201
  • Tables: 2740
  • Charts / Figures: 36
  • Companies covered: 20
  • Countries covered: 53

An instance bearing testimony to the aforesaid is of the statistics provided by the Federal Energy Regulatory Commission (FERC) that estimated the transmission expenditures to have been increased by three folds in 2015 with a valuation of USD 15 billion in comparison to the investment in that of 2006.

It is quite coherent that these increases in transmission expenses have heightened the demand for oil filled transformers across various regions. According to reliable reports the global oil filled transformer market collected a significant remuneration of over USD 33 billion in 2017, and is further expected to expand across major geographies given the rapid urbanization and commercialization trends.

Elaborating along the lines of regional landscape, U.S., with a tremendous amount of ongoing technologically reliable grid support system projects has emerged as a lucrative investment hub for potential stakeholders.

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Coupled with this, the massive government support in the form of funding and deployment schemes to establish cross border transmission networks have also led to a ride in the demand for oil filled transformers in the region. Recently for instance, the World Bank, under its initiative ‘Sustainable Energy for All’ aimed at achieving access to electricity universally by 2030, is investing USD 37 billion per annum for the extension of conventional electric grid infrastructures.

Similar investment trends coming in the wake of sustainability and clean energy initiatives across the globe have rather swayed the oil filled transformer industry participants to go the whole hog in catering to the modern-day power grid demands. In a bid to strengthen their footprint, these industry players are seen coming up with innovative and technologically advanced products.

Recently for instance, ABB, a prominent name in the global oil filled transformer industry made it to the headlines for developing a new robot inspection system to be able to work in oil filled transformers environment. Dubbed as the TXplore, the new robot technology is gaining immense traction across the global oil filled transformer industry. Not only this, but the company was also seen expanding its Poland-based transformer production facility both in terms of scope and capacity in 2016.3

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As the demand for efficient oil filled transformers continues to flourish in the coming years, several other renowned industry players including General Electric, Ormazabal, Eaton Corporation, Toshiba Corporation Siemens, are also likely to following similar investment trends, which in turn are expected to strengthen oil filled transformer industry trends in the coming years.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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