About Solar Transformer
The solar transformer is equipment that is used to convert DC voltage to AC voltage and distribute solar energy. Solar has been becoming more popular source for energy generation as its renewable, clean, and more cost-effective than fossil fuel. Increased global energy demand and the launch of SEIA projects in the US have increased the installation of solar plants will create huge demand for solar transformers in the nearer future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product 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. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hitachi (Japan), Synergy Transformers (India), MBT Electrical Equipment (Vietnam), Schneider Electric (France), Siemens (Germany), Eaton Corporation (Ireland), Esennar Transformers (India), GEC Durham (United States), Actom (South Africa), Pacific Transformer (United States), ABC Transformers (India), RPG Group (India), Arteche (Spain) and Hammond Power Solutions (Canada) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Solar Transformer market by Type (Oil Filled Transformers, Dry Type Cast Resin Transformers and Dry Type Transformers) and Region.
On the basis of geography, the market of Solar Transformer has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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). If we see Market by Phase, the sub-segment i.e. Single Phase will boost the Solar Transformer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Winding Material, the sub-segment i.e. Copper will boost the Solar Transformer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Utility Service Providers will boost the Solar Transformer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Voltage Ratio, the sub-segment i.e. 11kV will boost the Solar Transformer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emerging Trend of Three-Phase Solar Transformers with Large Capacity
Market Growth Drivers:
Increased Investment by the Government for Production of Renewable Energy and Implement of Net Zero Strategy and Surging Demand for Solar or Other Renewable Energy to Reduce the Dependence on Fossil Fuel or Coal to Generate Electricity
Challenges:
Requirement of Huge Space and Battery at Night Time to Provide Proper Electricity
Restraints:
Problems Associated With Oil Filled Transformers Such as Oil Leakage and Pilferage of Oil
Opportunities:
Rapidly Growing Renewable Energy Sector and Installment of Solar Plants in the Developing Countries like India and China
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Solar Transformer Manufacturers, Suppliers and Distributors of Solar Transformer, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.