Global Special Transformer Market: Regional Insights
The special transformer market in Asia Pacific accounted for the largest market share in 2017
and expected to remain largest over the forecast period. The factor attributed the growth of the
market is growing demand for oil & gas in emerging economies such as India and China further
leads to increasing number of oil and gas plants in the region. This factor is expected to further
increase demand for special transformer in Asia Pacific. For instance, according to India Brand
Equity Foundation’s (IBEF) analysis, consumption of oil in India was 3.85 million barrels per day
(mbpd) in 2014 and it increased to 4.0 mbpd in 2015. Similarly, the consumption of gas in India
was 54.20 billion cubic meter (bcm) in 2017 and is expected to reach 143.08 bcm in 2030.
Global Special Transformer: Competitive Landscape
Major players operating in the global special transformer include, Mitsubishi Electric
Corporation, Sunten Electric Equipment Co., Ltd., Siemens Ltd., Alstom, Schneider Electric, ABB,
Wolong Electric Group Co.,Ltd., Toshiba India Pvt. Ltd., TBEA India, Baoding Tianwei Group,
Wuzhou Transformer Co., Ltd., and Jinan XD Special Transformer Co.,Ltd.
The market for special transformers is highly competitive, owing to which key players are
focused on adopting collaboration, partnership, merger, and acquisition strategies in order to
strengthen their foothold in the market. For instance, in April 2016, Siemens Limited partnered
with NTPC Limited, a key company engaged in the business of generation of electricity in India.
The objective of the partnership is to install special transformers in super power thermal
stations in southern India.