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A transformer is an electrical device that transfers electrical energy between two or more circuits through electromagnetic induction. The total global transformers market is forecast to register a CAGR of below 5% from 2017 to 2022. During the forecast period, the power and distribution transformer segments are expected to witness strong growth because of the replacement market in North America, Europe, ANZ, and Japan. It is high time that transformer OEMs should focus on strengthening the distribution transformer segment as a result of the growing distributed generation and two-way power flow. To succeed in the utility business, OEMs need to show a strong track record in power projects and heightened sense of reliability that evokes trust from the customer.This study focuses on the important elements under the 4 broad segments that determine the direction and future of transformers: • Distribution Transformer • Power Transformer • Isolation Transformer• Smart TransformerDrivers and restraints are discussed for the overall global transformers market. Furthermore, top predictions to 2022 of the global transformers market are presented. The replacement market in North America and Europe is expected to drive demand for power and distribution transformers, while smart grid growth is expected to fuel higher demand for smart transformers. Replacement of aging assets would enable efficient electricity networks. Higher transmission investments, new generation plants, increasing government capital expenditure in the power sector, and new interconnections and grid establishments are driving demand for power transformers. One of the primary applications of isolation transformers is voltage change. This is necessary where the mains voltage is not similar to the voltage used by IT equipment. Such a scenario is common in North America, where, in large data centers, the mains voltage is about 480 V or 600 V; but in most parts of the world, the 400/230 V 3-phase mains voltage is similar to the IT load equipment. Therefore, isolation transformers are largely applicable in the NA market. Grid modernization, smart grids, energy efficiency techniques with the help of smart grid technologies, and new rapid transit rail networks with high-speed trains and EV charging stations are expected to fuel demand for smart transformers. Market commercialization is expected in the mid-to-long term, with continued research and development efforts.
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