The global vacuum pressure impregnated (VPI) transformer market revenue was around US$ 1.5 billion in 2022 and is estimated to reach US$ 2.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2023 to 2031.
A vacuum pressure-impregnated transformer is a modern insulated motor coil that can function efficiently at high temperatures to lower heat degeneration. This technology's special qualities, like its resistance to corrosion, high pressure, and leaks, allowed it to be created to survive moderate to severe environmental conditions. Thus, VPI transformers can be utilized in offshore applications where the conditions at sea are difficult as over-life in salty and humid circumstances can lead to corrosion of motor components.
Market Driving Factors
The increase in growth of the industrial sector has surged the global demand for oil & electricity which is estimated to boost the market growth. The increasing demand for energy distribution has grown due to the massive growth of different industries. In addition, the distribution and transformation of energy need the high tenacity of transformers. Thus, the vacuum pressure-impregnated (VPI) transformer has high mechanical strength, high dielectric strength, and superlative protection against chemicals and moisture. Thus, a vacuum pressure-impregnated (VPI) transformer is an appropriate option for energy distribution.
Innovations like triangle coil wound cores in vacuum pressure-impregnated (VPI) transformers are estimated to create possibilities in the market. This is due to the expansion of electricity distribution grids in multiple developing nations is driving the demand for vacuum pressure-impregnated (VPI) transformers. As a result, VPI transformers are the most developed and researched transformers and provide numerous advantages over the conventional wet type or oil-immersed transformers.
VPI transformers have a comparatively higher initial cost compared to conventional transformers which might be prohibitive, particularly for small-scale companies. Thus, this factor hampers the market growth.
Regional Analysis
Asia-Pacific dominated the market in terms of the largest share and is estimated to maintain its dominance. This can be attributed to the surged focus on renewable energy consumption and raised government initiatives to encourage energy-efficient solutions in this region.
North America is expected to dominate the market in terms of the fastest growth rate during the projection period. This is mainly due to the key elements such as considerable expenses by market players and the adoption of modern systems such as revolutionary technologies in vacuum pressure-impregnated (VPI) transformers. In addition, investments by market players in the industry and the adoption of technological advances in VPI, are anticipated to increase demand for VPI services.
Segmentation Insights
End Use Insight
The industrial segment is estimated to dominate the market in terms of the largest share during the projection period. This is mainly due to the high demand for VPI transformers from different industries such as oil, electrochemical, gas, and automobile. In addition, VPI transformers are also utilized in the oil & refinery industry to make or deliver high currents over a broad voltage range. Moreover, technological advancement such as the development of smart transformers utilized to charge electric devices is also a factor anticipated to propel segment growth.
The commercial segment is estimated to dominate the market in terms of growth rate. The VPI transformers have special characteristics like high mechanical strength, high thermal inductivity, low maintenance, and leak-proof, which can fulfill the highly demanding needs of the commercial sector like offices and housing societies. Therefore, these elements are estimated to enhance the segment growth.
Phase Insight
The three-phase segment is estimated to dominate the market in terms of the fastest-growing rate. This is due to its various benefits over a single phase such as less copper consumption, high conductance efficiency, low threat of operations, and capability to handle a broad range of power loads. In addition, three-phase transformers are more economical for providing large power distribution and loads and large. They have huge applications in almost all fields of electrical power systems such as transmission, power generation, distribution sectors, and all industrial sectors.
Prominent Companies
Segmentation Outline
The global vacuum pressure impregnated (VPI) transformer market segmentation focuses on the Phase, Voltage Range, End Use, and Region.
By Phase
By Voltage Range
By End Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL VACUUM PRESSURE IMPREGNATED (VPI) TRANSFORMER MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: VACUUM PRESSURE IMPREGNATED (VPI) TRANSFORMER MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL VACUUM PRESSURE IMPREGNATED (VPI) TRANSFORMER MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL VACUUM PRESSURE IMPREGNATED (VPI) TRANSFORMER MARKET, BY PHASE
5.1 OVERVIEW
5.2 THREE-PHASE
5.3 SINGLE-PHASE
6 GLOBAL VACUUM PRESSURE IMPREGNATED (VPI) TRANSFORMER MARKET, BY VOLTAGE RANGE
6.1 OVERVIEW
6.2 LOW
6.3 MEDIUM
7 GLOBAL VACUUM PRESSURE IMPREGNATED (VPI) TRANSFORMER MARKET, BY END USE
7.1 OVERVIEW
7.2 INDUSTRIAL
7.3 COMMERCIAL
7.4 OTHERS
8 GLOBAL VACUUM PRESSURE IMPREGNATED (VPI) TRANSFORMER MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL VACUUM PRESSURE IMPREGNATED (VPI) TRANSFORMER MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 TOSHIBA CORPORATION
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 CG POWER AND INDUSTRIAL SOLUTIONS LTD
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 RAYCHEM RPG
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 ENERGY PRODUCTS DIVISON
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 INSTRUMENT TRANSFORMER EQUIPMENT CORPORATION
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 EATON CORPORATION
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 GENERAL ELECTRIC
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 ABB LIMITED
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 BHARAT HEAVY ELECTRICALS LIMITED
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 SIEMENS AG
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 SCHNEIDER ELECTRIC
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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