Summary

China is a global powerhouse when it comes to power transformers, and its role in electricity generation and distribution is pivotal and thus leads the Asia Pacific market with around 40% market share in 2022. Power transformers are crucial components in the electrical grid, serving as the backbone for efficient transmission and distribution of electricity from power plants to end-users. China's dominance in manufacturing and utilizing these transformers has profound implications for its electricity generation landscape. China's robust manufacturing industry produces a significant portion of the world's power transformers. This manufacturing prowess not only caters to domestic needs but also fuels global demand. As a result, the availability of cost-effective transformers has contributed to the expansion and modernization of electricity generation infrastructure worldwide. These sources of energy often require the integration of power generated from remote areas into the national grid. High-voltage direct current (HVDC) transformers, a specialized type of power transformer, play a critical role in transmitting electricity over long distances with minimal loss. China boasts a robust and diverse landscape of companies that manufacture transformers, ranging from state-owned enterprises to private firms. Some prominent Chinese transformer manufacturers include State Grid Corporation of China, China Southern Power Grid Co., Ltd., TBEA Co., Ltd., and JiangSu HuaPeng Transformer Co., Ltd. These state-owned and private enterprises are recognized both domestically and internationally for their production of a wide range of transformers, including power transformers, distribution transformers, and special-purpose transformers.

According to the research report, “China Transformers Market Overview, 2028” published by Bonafide Research, the market was valued at more than USD 8.19 Billion market size in 2022. In 2022, China generated approximately 8.31 trillion kilowatt-hours (KWh) of electricity, reflecting the country's increasing demand for electrical power. China's commitment to improving energy efficiency and reducing transmission losses has led to the development of more efficient transformers. Scientific research and innovation in materials, design, and manufacturing processes have resulted in transformers with higher efficiency ratings, helping to meet the country's energy conservation goals. International collaborations and knowledge exchange have contributed to China's transformers market expansion. China has actively engaged in technology transfer and partnerships with global transformer manufacturers and experts. These collaborations have enabled Chinese companies to access cutting-edge scientific advancements and incorporate them into their products, further bolstering the market's growth. The emergence of smart grids is a scientific advancement driving transformer market growth. Smart grids rely on advanced transformers equipped with sensors and communication capabilities to enhance grid management, monitor performance, and optimize electricity distribution. China's investments in modernizing its grid infrastructure have fueled the adoption of smart transformers, which are essential components of these next-generation grids

The market is segmented on the basis of Product type of transformers. It includes Distribution Transformers, Power Transformers, Instrument Transformers, and Others (Isolation Transformers, Pulse Transformers, Traction Transformer, etc.). The distribution transformer provides the final voltage transformation in the electric power distribution system, stepping down the networks medium voltage to low voltage, the level used by the consumer, and is considered one of the most important links in the distribution network. Distribution transformers have many important applications in the residential, commercial, and industrial sectors. Thus it holds the largest market share of more than 45% in 2022 directly linked with the country’s population. Following it, the power transformers, which are used in the power plants, generation’s stations, and receiving end substations, etc. They are designed for maximum efficiency at the full load as they operate all the time. Whereas the distribution transformers are designed to be operated for the maximum efficiency at 60% load as they don’t operate at the full load all the day. Along with this Instrument transformers and the other types of transformers hold the significant market share.

Based on core, the transformers are broadly classified into three types. Closed, Shell, and Berry. The shell type transformers are preferred for low voltage and low power applications. They are mostly used in commercial purposes, usually utilized in factories that use automation. Whereas the core type transformers are used for high voltage and high power transformers, and are widely used in the power stations, and other big industries. The Berry type transformers are as a power transformer and an isolation transformer. Berry transformers have a complete series abroad and are widely used in computers, medical equipment, telecommunications, instruments and lighting. Shell-type transformers are dominating the market due to their direct connection to the population's electricity needs. These transformers are often situated closer to urban and residential areas, facilitating efficient power distribution to homes, businesses, and other essential facilities. The shell-type design is well-suited for these environments because it offers advantages such as compactness, ease of installation, and reduced noise levels. Additionally, shell-type transformers are known for their robust construction, which ensures durability and reliability in delivering electricity to populated areas, contributing to the stability of modern societies and their reliance on electrical energy. This type of transformer design plays a pivotal role in meeting the power demands of our increasingly electrified world.

Based upon the number of windings used in the transformer, they can be grouped into two different categories Two windings and Auto Transformer. The Two-winding transformer are employed for step-up and step-down the voltage for transmission and distribution purposes. Whereas, Autotransformer is used as laboratory transformer, starter for induction motor, voltage regulator, traction transformer, etc. According to the data, the Two Windings transformers dominate the market with the market size of more than USD 50 Billion. Its uses are in Industrial Applications, Commercial Buildings, Residential Applications, Utilities and Substations, Railways, Mining and Heavy Industry, and etc. Whereas, the Auto transformers are used in electrical testing and calibration laboratories to provide a wide range of voltage levels for various testing purposes, including equipment calibration and testing of electrical components. Auto transformers offer advantages such as compactness, reduced energy losses, and cost-effectiveness, making them suitable for a wide range of applications across different sectors and industries. Their versatility in voltage transformation and regulation makes them a valuable component in modern electrical systems.

On the basis of Cooling Type, the market is segmented into Air cooled and Oil cooled transformers. Oil-cooled transformers are often preferred for high-power applications, especially in industries, power generation, and distribution networks. The oil provides effective cooling and insulation for these transformers, allowing them to handle higher loads and voltages. Oil-cooled transformers tend to have a longer operational lifespan and are known for their robustness and durability, making them suitable for critical and continuous operations. The oil acts as an efficient cooling medium, helping dissipate heat generated during operation, which is crucial for transformers handling heavy loads. Air-cooled transformers are more compact and lightweight compared to oil-cooled counterparts, making them suitable for applications where space is limited or weight is a critical factor. Air-cooled transformers are often used in smaller distribution systems, renewable energy installations, and some industrial settings where the transformer size and cooling requirements are less demanding.

The market is segmented on the basis of Phases of transformers which are categorized into single phase and three phase transformers. Three-phase transformers indeed dominate various sectors and applications due to their efficiency and widespread use in industries, power generation, and distribution networks. They are crucial for applications requiring high power and are commonly found in manufacturing, utilities, commercial buildings, and large-scale power transmission. Three-phase transformers are essential for balancing loads, achieving better power factor correction, and ensuring reliable power distribution in systems with heavy electrical demands. Single-phase transformers, on the other hand, are not typically the dominant choice in terms of market share when it comes to high-power industrial applications. Instead, they are primarily used in residential and small commercial settings where the power requirements are lower. Single-phase transformers are commonly used for voltage conversion in homes, offices, and smaller electrical devices.

Based on the Insulation of transformers, the market is segmented into Liquid Immersed, Dry, Gas, and Solid. Liquid-immersed transformers hold a prominent position in the transformer market of electrical power distribution and transmission. These transformers are predominantly used in various critical applications and sectors due to their efficiency, reliability, and proven performance over many decades. The key advantages of liquid-immersed transformers is their excellent cooling properties, facilitated by the dielectric fluid, typically mineral oil or synthetic fluids like silicone oil, which efficiently dissipates heat generated during operation. This makes them especially suitable for high-capacity and continuous-duty applications in power generation, transmission, and distribution networks.

Based on the voltage ranges, the market is segmented into different voltage ranges like Up to 500 VA, 501 VA to 1 kVA, 2 kVA to 5000 kVA, 5001 kVA to 1000 MVA, Above 1000 MVA. Among these, the 2 kVA to 5000 kVA dominated the transformers market due to their vast applications. This voltage range is commonly used in industrial settings where a moderate to high power capacity is required. It caters to a wide range of industrial machinery, including motors, pumps, and manufacturing equipment. Transformers in this range are also used in commercial buildings, shopping malls, and residential areas to provide electrical power distribution, ensuring that voltage levels are appropriate for lighting, HVAC systems, and other electrical loads. Transformers above 5000 kVA, especially those in the 5001 kVA to 1000 MVA and above 1000 MVA categories, are typically used for extra-high-voltage transmission and large industrial installations, such as power plants and heavy manufacturing facilities.

The market is segmented on the basis of mounting of transformers, which includes Pad and Pole. A pad mount or pad-mounted transformer is a ground-mounted electric power distribution transformer in a locked steel cabinet mounted on a concrete pad. Since all energized connection points are securely enclosed in a grounded metal housing, a pad mount transformer can be installed in places that do not have room for a fenced enclosure. Whereas Pole-mounted transformers are electric utility distribution transformers fixed on a wooden or concrete electrical service pole at the level of the overhead wires. According to the report, the pad mounting of transformers dominates the market in 2022. This accessibility enhances safety and reduces the risk associated with maintenance tasks. Installing pad-mounted transformers is relatively straightforward and cost-effective, as it doesn't require extensive excavation or complex infrastructure. Pad-mounted transformers are used in a variety of settings, including residential neighborhoods, commercial areas, industrial facilities, and distribution substations. They are capable of handling a wide range of voltage levels to suit different applications.

On the basis of transformers applications, they are used in Utility, Industries, and Residential and Commercial sectors. Transformers are indeed a cornerstone of power plants and form an integral part of the electrical infrastructure in these facilities. Power plants, whether they are thermal, hydroelectric, nuclear, or renewable energy-based, rely heavily on transformers for several critical functions. One of the primary roles of transformers in power plants is to step up the voltage generated by the power source. This step-up process is essential for efficient long-distance transmission of electricity. Higher voltage reduces energy losses during transmission, ensuring that electrical power can be efficiently transported over the grid to meet the demands of distant cities and regions, thus in utility sectors the market of transformers dominate in 2022. Based on the residential and commercial applications, they are used in homes to adapt voltage levels for lighting appliances and HVAC (Heating, ventilation, and air conditioning) systems. Along with this they are used in commercial buildings, offices, retail spaces, hospitals, data centers, transportation (electric trains), aerospace and defense, telecommunications and many others.

Considered in this report:
• Geography: China
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• China Transformers market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Distribution Transformer
• Power Transformer
• Instrument Transformer
• Others (Isolation Transformers, Pulse Transformers, Traction Transformer, etc.)

By Core:
• Closed
• Shell
• Berry

By Winding:
• Two Winding
• Auto Transformer

By Cooling Type:
• Air Cooled
• Oil Cooled

By Phase:
• Three Phase
• Single Phase

By Insulation:
• Liquid Immersed
• Dry
• Gas
• Solid

By Mounting:
• Pad
• Pole

By Voltage Range:
• Up to 500 VA
• 501 VA to 1 kVA
• 2 kVA to 5000 kVA
• 5001 kVA to 1000 MVA
• Above 1000 MVA

By Application:
• Utility
• Industrial
• Residential and Commercial

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Transformers industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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