Industrial Control Transformer Market

Market Synopsis:

The Global Industrial Control Transformer Market was valued USD 887.01 Million in the year 2022 and is anticipated to reach a value of USD 1271.10 Million by the year 2030. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.60% over the forecast period.

Industrial control transformers supply machine tool control devices with stepped-down voltages to isolate control circuits from all lighting and power circuits and enable the use of grounded or ungrounded circuits. Moreover, industrial control transformers are made to withstand the substantial inrush current that relays, solenoids, starters, and contractors generate, preventing technical hiccups and short circuits. Industrial control transformers deliver a high level of secondary voltage stability quickly, which is anticipated to boost market growth over the anticipated period. For the control devices to operate reliably and safely, an Industrial Control Transformer must be used. The three-phase sector is expected to be more effective in industrial applications than the single-phase segment throughout the forecast period, which will likely lead to growth in the market for industrial controller transformers.

Additionally, the expanding use of industrial control transformers in important sectors and the thriving power sector are the main factors driving the market for industrial controller transformers. The expansion of this market is also fueled by increased power generation capacities around the globe, the requirement to lessen equipment failure brought on by frequent voltage spikes, and the increased adoption of industrial control transformers across industries. Although numerous devices that employ these transformers, such as motors, contactors, solenoids, relays, and others, may be damaged if industrial controller transformers fail due to voltage spikes and lightning transients.

Market Segmentation:

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The Industrial Control Transformer market is segmented based on Phase, Power Rating, Primary Voltage, Frequency, End User, and Region. Based on the Phase segment, the market is further segmented into Single Phase and Three Phases. Furthermore, based on the Power Rating, the market is segmented into 25-500 VA, 500-1,000 VA, 1,000-1,500 VA, and Above 1,500 VA. In addition, based on the Primary Voltage category, the market is further segmented into Up to 120 V, 121-240 V, and Above 240 V. Furthermore, based on the Frequency segment, the market is further segmented into 50 Hz and 60 Hz. Finally, the market is segmented as Oil & Gas, Chemical, Metal & Mining, and others based on the End-User segment.

Based on Phase:

The Three-Phase category dominated the market since it was more effective in industrial applications. In the oil, chemical, and power industries, as well as other industrial and mining sectors, three-phase industrial compressors are used to drive various general machinery, including compressors, pumps, crushers, cutting machine tools, and other mechanical equipment. Increased use of three-phase industrial control transformers in large industrial applications is credited with a significant market share. It can operate with great power with ease. Compared to a single phase, it uses less copper and aluminum to transfer a given amount of electricity.

Based on End-User:

The Metal & Mining sector dominated the Industrial Control Transformer market in past and is continued to do so in the forecast period due to increased growth in industrialization, manufacturing, and infrastructure operations. These transformers are utilized in rolling mills, hoists, blowers, and processing lines in the metals and mining industries.

Asia Pacific is projected to Grow at the Highest Compound Annual Growth Rate (CAGR) during the Forecast Period

Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The Asia Pacific is considered a market with solid growth potential regionally because of the area's recent expenditures on electricity generation facilities and public infrastructure projects. In addition, the growing nations of the Asia Pacific area, including China, India, and ASEAN, are rapidly industrializing. Therefore, the need for control transformers in this region is being fueled by upgrading the power and distribution infrastructure, the standby of old equipment, the expansion of heavy industries, and the use of renewable energy. Additionally, it is anticipated that the transformers market would rise favorably throughout the projection period due to the growing requirement to expand and modernize the current transmission and distribution infrastructure to support the rising demand for energy.

Competitive Landscape:

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.

Segmentation of the Global Industrial Control Transformer Market: