Europe LV/MV Transformers Market growth to Grow with a robust CAGR by 2028
Governments
and regulatory bodies in Europe implementing various policies and incentives to
support the transition to renewable energy are expected to drive the Europe
LV/MV Transformers Market growth in the forecast period, 2024-2028.
According
to TechSci Research report, “Europe LV/MV Transformers Market - By Country,
Competition, Forecast and Opportunities, 2018-2028”, the Europe LV/MV
Transformers Market is expected to register a robust during the forecast
period, 2024-2028. The seamless integration of renewable energy sources into
the grid necessitates a resilient and flexible electrical infrastructure. LV/MV
transformers play a crucial role in facilitating this integration by ensuring
the appropriate voltage levels for distribution and transmission of electricity
generated from renewables.
European
countries are actively making investments in grid modernization to facilitate
the integration of renewable energy, enhance grid reliability, and improve
energy efficiency. LV/MV transformers play a crucial role in modern grids, and
the ongoing grid upgrade projects present a substantial opportunity for
manufacturers of transformers.
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"Europe LV/MV Transformers Market”
Based
on type, Oil Immersed segment has emerged as the predominant market leader.
Digital technologies are being integrated into oil-immersed transformers,
transforming them into "smart transformers." These advanced
transformers incorporate sensors and communication capabilities to enable
real-time monitoring, remote control, and predictive maintenance. Smart
oil-immersed transformers enhance grid management, improve reliability, and
contribute to grid modernization efforts. Transformer manufacturers are increasingly
providing customized solutions to meet the specific needs of various industries
and applications. This adaptability is crucial in addressing the diverse
requirements of European customers. Customization may involve variations in
voltage ratings, cooling methods, and insulation materials to ensure optimal
performance for the intended application. European oil-immersed transformer
manufacturers have the potential to explore export opportunities, particularly
in regions experiencing growing energy infrastructure needs like Asia and
Africa.
European
manufacturers' reputation for quality and advanced technology can offer a
competitive advantage in global markets. Sustained focus on energy efficiency
in Europe presents opportunities for manufacturers to develop and market
energy-efficient oil-immersed transformers. Complying with energy efficiency
regulations and embracing eco-design principles are vital to capturing this
market segment. Manufacturers in this segment must navigate regulatory
challenges while capitalizing on opportunities driven by grid modernization,
renewable energy integration, and the demand for environmentally friendly and
efficient transformers.
Based
on configuration, Three Phase segment is expected to grow during the forecast
period. Europe's dedication to renewable energy sources is driving the seamless
integration of wind, solar, and other renewables into the power grid.
Three-phase transformers play a pivotal role in converting and distributing
electricity from these intermittent sources. Manufacturers are actively
developing specialized three-phase transformers capable of handling voltage and
frequency fluctuations associated with renewable energy generation, thereby
ensuring grid stability. In the realm of three-phase transformers,
environmentally friendly insulating materials like natural ester-based fluids
and silicone oils are gaining significant traction. These materials, not only
biodegradable but also offering improved fire safety compared to traditional
mineral oil, are propelling the segment forward.
Transformer
manufacturers are strategically incorporating these eco-friendly materials to
meet sustainability goals and comply with environmental regulations. European
manufacturers of three-phase transformers have immense potential to explore
export opportunities in regions with burgeoning energy infrastructure needs,
such as Asia and Africa. Their reputation for quality and advanced technology
can serve as a competitive advantage in global markets. Investing in research
and development to create more environmentally friendly insulating materials
for three-phase transformers can prove to be a strategic move. By developing
materials that are both sustainable and high-performing, manufacturers in this
segment can differentiate their products in the market. However, it is
imperative for manufacturers in this segment to navigate regulatory challenges
while capitalizing on opportunities arising from grid modernization, renewable
energy adoption, and the increasing demand for eco-friendly and efficient
transformers.
Major
companies operating in Europe LV/MV Transformers Market are:
- ABB
Group
- Siemens
AG
- Schneider
Electric
- Eaton
Corporation
- Trafomodern
Transformatoren GmbH
- SGB-SMIT
Group
- Hammond
Power Solutions (HPS)
- CG
Power and Industrial Solutions
- Wilson
Power Solutions
- TMC
Transformers
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“Russia
is expected to dominate the market during the forecast period. Russian
manufacturers of LV/MV transformers have the opportunity to invest in research
and development in order to produce advanced and energy-efficient transformers.
Staying abreast of technological advancements in the field will be crucial for
competing in the European market.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Europe
LV/MV Transformers Market Segmented By Type (Oil Immersed, Dry and VPI), By
Configuration (Single Phase and Three Phase), By Application (Industrial, Civic
Infrastructure, Building Establishments and Others), By Country, By Competition
Forecast & Opportunities, 2018-2028”, has evaluated the future growth
potential of Europe LV/MV Transformers Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Europe LV/MV Transformers Market.
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