An industrial control transformer offers a safe and low control voltage for operating electromagnetic devices such as contactors, motor starters, timers, and solenoids. This allows the control circuits to be separated from all of the lighting and power circuits. The range of industrial control transformer is usually adaptable on applications where there is a demand for compact construction such as office buildings, shopping centers, commercial buildings, industrial plants, hospitals, apartment buildings, and schools.
Global Industrial Control Transformer Market: Growth Factors
The growing need to lower the rate of equipment failure due to spike in voltage, rise in demand for industrial control transformers from its end-users, and rapid industrialization in the developing countries are the primary factors that are propelling the growth of the global industrial control transformer market. Several advantages are been offered with the use of industrial control transformers. The control transformers have the potential to transfer stable voltage and handle extreme current peaks.
They also supply power that is efficient & safer and can be utilized by high voltage applications. One of the key advantages of the control transfer that it can transform the high voltage into a low voltage which is essential for the appropriate functioning of the devices. In addition to this, they also protect all the circuits that are highly sensitive to handle high voltage current. Durability and a safe working environment are also some of the major features of the industrial control transformer. Owing to all these beneficial factors, there is a huge demand for industrial control transformers from heavy industries, mining equipment & power supplies, and the aviation sector thereby driving the growth of the global market. Furthermore, an increase in energy generation and use of renewable resources coupled with acceptance of disruptive technology may offer ample opportunities for the growth of the global industrial control transformer market during the forecast period. However, the high cost associated with the transformers may hamper the growth of the global industrial control transformer market in underdeveloped and developing countries.
The Covid-19 pandemic has slowed down the production sector in most of the industries. The complete lockdown in several countries across the world resulted in delays of projects and also negatively impacted the working of the business sectors. The major user of the industrial control transformers such as the mining sector, schools, shopping complex, commercial buildings, and several other heavy industries was severely affected by the outbreak which decreased the demand for the control transformers. Thus, the growth of the global industrial control transformer market was adversely affected by the pandemic.
Global Industrial Control Transformer Market: Segmentation
The global industrial control transformer market is fragmented based on power rating, phase type, end-user, and region. Based on the power rating, the global industrial control transformer market is bifurcated into 25VA-500VA, 500VA- 1000VA, 1000VA-1500VA, and above 1500VA. Based on the phase type, the global market is categorized into single phase and three phase. The end-user segment is classified into chemical, power generation, metal & mining, oil & gas, and others.
Global Industrial Control Transformer Market: Regional Analysis
Asia Pacific region is estimated to contribute to the maximum share in the global industrial control transformer market during the forecast period. Factors such as rapid industrialization, growing mining sector, and rise in heavy investments in the development of the infrastructure are fostering the growth of the market in this region. In addition to this, the rise in demand for the industrial control transformer from countries like Korea, China, and India is also spurring the growth of the market in this region. North America and Europe are also expected to account for a significant share in the market. This is attributable to the presence of major players, rise in demand from the end-users, and growing adoption of the control transformers to minimize equipment failure.
Global Industrial Control Transformer Market: Competitive Players
The global industrial control transformer market is highly competitive. Some of the major players operating in the global market are Dongan Electric Manufacturing Co., Boardman Transformers, Electric Hammond Power Solutions, Rockwell, Emerson, MCI Transformer Corporation, GE, Schneider Electric, Eaton, Siemens, and Siemens among others.