The global converter transformer market size was US$ 2.16 billion in 2021. The global converter transformer market size is forecast to reach US$ 7.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 14.2% during the forecast period from 2022 to 2030.
A converter transformer is a type of transformer that provide high current, low voltage solutions for a variety of applications. Voltage converters adjust the voltage of electronic equipment, whereas transformers transport power from one voltage to another. By adopting a star-to-delta (wye-delta) transformer winding connection, the converter transformer can operate with 12 pulses for each cycle in the AC supply, eliminating several harmonic current components. Static excitation systems for power plant generators use transformers with ratings up to 5.2 MVA.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the converter transformer market's growth. This impact is primarily due to significant disruptions in raw material transportation and low labor, which led to the closure of many manufacturing industries, resulting in a decline in demand for power and, as a result, a decrease in converter transformer market demand during this time period. The decline in demand for numerous non-essential products and the closure of electrical, automotive, and other manufacturing-related companies, have harmed the converter transformer market.
Regional Insights
The Asia Pacific held dominant in 2021 and is forecast to remain dominant during the forecast period. The rising demand for converter transformers from emerging countries is likely to create significant market growth. The rising government investments in power infrastructure construction in order to meet rising energy demand from the residential and industrial sectors drive the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global converter transformer market are:
Scope of the Report
The global converter transformer market segmentation focuses on Type, Application, and Region.
Segmentation based on Type
Segmentation based on Application
Segmentation based on Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL CONVERTER TRANSFORMER MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL CONVERTER TRANSFORMER MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL CONVERTER TRANSFORMER MARKET, BY TYPE
5.1 OVERVIEW
5.2 201-400 KV
5.3 401-600 KV
5.4 601-800 KV
6 GLOBAL CONVERTER TRANSFORMER MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 WIND FARMS
6.3 OIL & GAS
6.4 GRID CONNECTIONS
7 GLOBAL CONVERTER TRANSFORMER MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3. 1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL CONVERTER TRANSFORMER MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
9 COMPANY PROFILES
9.1 KIRLOSKAR ELECTRIC COMPANY LIMITED
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.2 GENERAL ELECTRIC
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.3 ABB LIMITED
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.4 SIEMENS AG
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.5 TEBIAN ELECTRIC APPARATUS STOCK COMPANY LIMITED
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.6 BHARAT HEAVY ELECTRICS LIMITED
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.7 CROMPTON GREAVES LIMITED
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.8 TOSHIBA
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.9 SHADONG POWER EQUIPMENT COMPANY LIMITED
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.10 XIAN XD TRANSFORMERS CO. LIMITED
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
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