North America Transformer Market: Top Trends Augmenting the Industry Size up to 2027
According to a recent study from market research firm Graphical Research, the North America transformer market size is set to register a significant growth during the forecast timeframe, as the federal investments in the development and implementation of renewable sources of energy are increasing. The regional governments are encouraging companies to come up with methods that help create better and more efficient electricity infrastructure.
Industrialization is happening at a robust rate in North America. As a result, the regional authorities have placed strict rules with respect to the renovation of the existing electric grid structure to support the increasing power consumption. The production of electric vehicles is seeing an upward trend in the region, thereby increasing the installation of transformers to power the electric vehicle charging stations.
The following trends will foster North America transformer market outlook over 2021-2027:
Power transformers to cater to rising electricity demand:
Power transformers are projected to gain a lot of traction in North America as the installation of power generation units is growing in the region. These units will play a vital role in catering to the rising electricity demand from industries and residential areas.
Many companies in the region are now switching to electric systems with extra-high voltage supplies. These systems will be used in areas where power is consumed on a large scale. Power transformers will be extensively used to not only provide high-voltage electricity but also to stabilize its supply during fluctuations and peak hours.
Outdoor transformer installations gain momentum:
Governments in North America are spending a lot of money on building advanced electric infrastructure that caters to the rising electricity demands of the regional population. This is one of the important features contributing to the increased installation of transformers in outdoor locations. They have a wide range of applications across heavy-duty and high-voltage activities in various industries. They are quite reliable and take up lesser space when installed.
High use of air-insulated transformers:
North America industry share from air-insulated transformers will grow at a notable rate as the adoption of renewable sources of energy for power generation is picking up pace in the region. The authorities are introducing strict norms with regards to the permissible emission levels from factories. The need for refurbishing the aging grid networks is growing steadily. All these factors will foster the use of air-insulated transformers.
North America is witnessing the expansion of microgrid networks as they help in regulating the voltage and flow of electricity and offer powerful electric backup in case of power cuts. Some of the useful features of air-insulated transformers are that they are easy to install and offer efficient cooling systems during extreme heat conditions. In case of any spillage, these transformers are easy to clean as well.
Three-phase transformers have high application:
There are many factories in North America that have large-scale production lines and it is important to keep these processes running for a long period. This is where three-phase transformers will be highly adopted by the factory owners as they have the capacity to withstand increasing load and can provide adequate electricity during peak hours.
These transformers will be widely used during the refurbishment of the existing grid infrastructure in North America. The product has a longer shelf life as compared to its counterparts and will be useful in keeping up with the rising electricity demand from regional consumers.
Well-known organizations across North America, such as Hitachi ABB Power Grids, Northern Transformer, SPX Transformer Solutions, DOS Canada, Schneider Electric, Siemens, and several others are developing smart transformers that are highly efficient as they use lesser electric sources to generate maximum power for factories in the region. They are increasing their investments in various research and development activities to make use of naturally available energy sources. This will help generate power that doesn’t have any negative side effects on the environment.
North America transformer market trends have shown great progress as there is a wide product variety to choose from such as distribution, power, and instrument transformers. Different types of insulations are being used which include solid materials, gas, oil, and air. Industrial, utility, residential, and commercial end-users will install both three-phase and single-phase transformers on a notable scale to fulfill the varying electricity demands.
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