Control Transformer Market Drivers Need to Reduce System Failures Triggered by Frequent Spikes in Voltage
HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Control Transformer Market is forecast to reach $9.04 billion by 2025, growing at a CAGR 5.67% from 2020 to 2025. Control transformer provides stepped-down voltages to machine tool control devices to separate control circuits from all lighting and power circuits and allow ungrounded or grounded circuits to be worked. The use of control transformer is important for the control devices to work efficiently and safely. With the concern for safety in electrical equipment, the need for control transformers has increased considerably to prevent the equipment from any accidents. Control transformer is expected to play an important role in helping countries achieve their energy-efficiency goals, as energy saving is the primary feature of these devices. Utilities need to boost the efficiency of electricity and eventually increase the quality of power supplied to customers. Control transformer provides a high degree of secondary voltage stability in less time, which is expected to increase market growth over the forecast period of the control transformer. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. The need for control transformers has increased with this concern for protection in electrical equipment. These transformers are used to protect the equipment from any incidents.
2. Control transformers are expected to play an important role in helping countries meet their energy efficiency goals, because energy saving is the primary feature of these devices.
3. The three phase dominates the market, due to the need for improved results in different applications. The three-phase Control transformers are used for many general equipment applications in manufacturing, power plants, chemical and other industries.
4. Over 1500 VA transformers are primarily used in heavy-duty industries such as oil & gas, metal & mining, and heavy-duty machinery power generation.
5. Due to industrialization and infrastructural developments in China and India, the Asia Pacific market is projected to hold the largest share of the control transformer market.
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1. During the forecast period the three phase segment is expected to grow at a CAGR 6.9%. Owing to improved performance in industrial applications compared to the single phase segment, the three-phase segment held the largest share of the control transformer market.
2. 500-1000 VA Segment is expected to grow at a higher CAGR 8.2% during the forecast period. The control transformers are designed specifically for industrial applications where electromagnetic components such as relays, solenoids and magnetic motor starters are used.
3. APAC currently dominates the global Control Transformer market with a share of more than 37.2%. Due to industrialization and infrastructural developments in China and India, the Asia Pacific market is projected to hold the largest share of the control transformer market.
The top 5 players in the Control Transformer industry are –
3. Schneider Electric
4. Emerson Electric Co.
5. Hammond Power Solutions (HPS)
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