As stated in our extensive report, the Global Industrial Control Transformer Market accounted forUSD 848.1 Millionin 2021.
The primary purpose of industrial controller transformers is energy conservation, which aids nations in achieving their goals for energy efficiency. They provide machine tool control devices with step-down voltages. These transformers also offer high secondary voltage stability and outstanding voltage regulation during a brief time of overload condition. Transformers designed specifically for industrial applications that need relays, solenoids, and other electromagnetic devices are known as industrial controller transformers. These can also be modified to meet the needs of the final user. Industrial controller transformers also assist utilities in enhancing customer-supplied power quality and dependability.
Industrial Control Transformers are expected to drive market expansion during the forecast period because they immediately give secondary voltage stability. An Industrial Control Transformer must be utilized if the control devices function securely and dependably. Throughout the forecast period, the three-phase sector is anticipated to be more efficient in industrial applications than the single-phase segment, which is anticipated to fuel expansion in the market for industrial controller transformers. The market for industrial controller transformers is primarily driven by the booming power sector and the growing use of Industrial Control Transformers in significant industries.
The demand to reduce equipment failure caused by frequent voltage spikes, the rise in the use of Industrial Control Transformers across industries and expanded power generation capacity worldwide are other factors driving the growth of this market. Industrial controller transformers may fail due to voltage spikes and lightning transients, which may damage many devices that use these transformers, including motors, solenoids,contactors,relays, and others. The growth of the oil and gas industry, which is continuing, and a slowdown in the mining industry in Asia-Pacific, South America, and Africa are the key challenges to expanding the industrial power transformer market. The expanding grey market, which sells cheap goods of poor quality, is one of the main obstacles.
The Asia Pacificholds the largest Industrial Control TransformerMarket share over the forecast period. There are numerous industrial operations in this area. Additionally, much electric control equipment is needed for efficient industrial processes. Voltage instability and power outages are frequent problems in the Asia Pacific region. There is significant equipment loss and damage as a result of these variances. The need for industrial control transfers in this region is increasing due to the desire to decrease electrical accidents. China and India primarily drive the Industrial Control Transformer market in this region. The Asia Pacific area is anticipated to experience significant demand and the fastest growth rate. Additionally, during the predicted period, numerous product development initiatives were undertaken.
Some of the key players in the Global Industrial Control Transformer Market include- ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Eaton (Ireland), General Electric (US), Hubbell (US), Rockwell Automation Inc. (US), Broadman Transformers (UK), Dogan Electric Company (US), MCI Transformer Corporation (US), SNC Manufacturing Co. Inc. (US), Foster Transformer Company (US), TEMCO Industrial (US), Controlled Magnetics Inc. (US), Micron (US), Grant Transformers (Australia), Troytrans (Spain), RECO Transformers Pvt. Ltd. (India), Trutech Products (India), and others.