The Asia Pacific Oil Immersed Power Transformer Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030).
Oil-immersed power transformers find diverse applications across the electricity value chain, from power generation to distribution. Oil-immersed transformers step up or down voltage levels at power plants to facilitate efficient electricity transmission. Large oil-immersed transformers are deployed in high-voltage transmission networks to transmit electricity over long distances, reducing energy losses.
Furthermore, in distribution networks, medium-voltage oil-immersed transformers further adjust voltage levels to match the requirements of industrial, commercial, and residential consumers. Industries rely on oil-immersed transformers for various manufacturing processes to meet voltage requirements. Oil-immersed transformers are integral to developing new infrastructure, including smart grids and electrified transportation systems.
As per the State Council of China, the country was the major driving force behind the world's rapid expansion of renewable power generation capacity in 2023, which grew by 50 percent to 510 gigawatts. China's installed renewable energy capacity exceeded 1.45 billion kilowatts in 2023, accounting for more than 50 percent of the country's total installed power generation capacity. Furthermore, ongoing infrastructure development projects in India, including constructing smart cities, industrial corridors, and rural electrification initiatives, require robust power infrastructure. As per the data from the Ministry of Power of India, in 2023-24, an objective of 1,750 billion units (BU) has been established for electricity generation. The actual generation for the preceding year (2022-23) amounted to 1624.158 BU, representing an increase of approximately 7.2%. The generation during 2022-23 was 1624.158 BU compared to 1491.859 BU generated during 2021-22, representing a growth of about 8.87%. Therefore, increasing renewable energy integration and electricity consumption in the Asia Pacific will help expand the regional market.
The China market dominated the Asia Pacific Oil Immersed Power Transformer Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,980 Million by 2030. The Japan market is registering a CAGR of 5.5% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.9% during (2023 - 2030).
Free Valuable Insights: The Global Oil Immersed Power Transformer Market is Predict to reach $31.5 Billion by 2030, at a CAGR of 6.1%
Based on Phase, the market is segmented into Three, and Single. Based on Installation, the market is segmented into Pad-mounted, Pole-mounted, and Substation Installation. Based on Voltage, the market is segmented into High, Medium, and Low. Based on End User, the market is segmented into Utilities, Industrial, and Residential & Commercial. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
By Phase
By Installation
By Voltage
By End User
By Country
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