Global Vacuum Pressure Impregnated (VPI) Transformer Market to Observe Significant Growth Due to Product Launches and Strategic Partnerships by Market Players, such as Schneider Electric, Siemens AG, and Others

Vacuum pressure impregnated (VPI) transformers are a new construction concept which are designed with a high temperature polyester varnish and are used for most of the commercial and industrial applications. These transformers run with the technique of applying the varnish coating in the interchanging cycles of pressure and vacuum. VPI transformers provide outstanding mechanical and short-circuit strength, reduce the risk of fire or explosion and prevent liquid leakage. The VPI transformers are better than the standard dry-type transformer as it includes pressure and have better penetration of varnish inside the transformer coils.

Forecast Analysis of the Global Market

With the increasing expansion of electricity distribution and industrialization in the developing countries all across the world, the global vacuum pressure impregnated (VPI) transformer market is expected to witness a striking growth during the analysis timeframe. Besides, the increasing vacuum pressure impregnated transformer businesses in providing transformers according to the growing demand of the customers worldwide with advanced safety and voltage features at lower prices. Moreover, increasing technological advancements in VPI transformers market and growing applications of vacuum pressure impregnated transformers are expected to create huge growth opportunities for the vacuum pressure impregnated (VPI) transformer market. However, the surge in the high cost of vacuum pressure impregnated transformer may restrict the growth of the market over the analysis timeframe.

According to the report published by Research Dive, the global vacuum pressure impregnated (VPI) transformer market is predicted to generate a revenue of $2,471.8 million and rise at a CAGR of 6.2% during the forecast timeframe from 2021-2030. Regionally, the Asia-Pacific region is expected to hold the maximum share of the market and is predicted to generate a robust revenue over the estimated period. This is mainly due to the increasing initiatives taken by the governments towards energy efficient solutions, increasing technological advancements in electrical industries and growing importance of renewable power consumption in this region.

The major players of the vacuum pressure impregnated (VPI) transformer market include ABB Limited, General Electric, Eaton Corporation, Schneider Electric, Siemens AG, CG Power and Industrial Solutions Ltd, Toshiba Corporation, Bharat Heavy Electricals Limited, Raychem RPG, and Instrument Transformer Equipment Corporation.

Key Developments of the Vacuum Pressure Impregnated (VPI) Transformer Market

The key companies operating in the vacuum pressure impregnated (VPI) transformer market are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global vacuum pressure impregnated (VPI) transformer market to grow exponentially. For instance,

• In December 2020, Enel X, a leading provider of products and services aimed at energy transformation at home, has announced its partnership with Eaton Corporation, a renowned American-Irish multinational power management company. With this partnership, the companies are aiming to deploy solar plus storage-based microgrid in Puerto Rico. This partnership will help Eaton to minimize its carbon emission and enhance energy resilience by developing local energy influencer.
   
• In September 2021, Siemens Gamesa Renewable Energy S.A, a Spanish-German wind engineering company, has launched world’s first recyclable wind turbine blades named as “RecyclableBlade”, which is especially designed for commercial purpose in offshore countries. The technology used in this product helps in separating the materials used in the blade, enabling recycling procedures into new innovations and setting a new milestone in sustainability.
   
• In January 2022, Schneider Electric, a French multinational company providing energy and automation digital solutions, has announced its acquisition with Zeigo, a leading climate-tech platform that mainly helps in enabling businesses to get quick and cost-effective source of clean energy from wind and solar farms. With this acquisition, the companies are aiming to bring innovative energy services and solutions and commence their journey towards de-carbonization.

Covid-19 Impact on the Market

The outbreak of the Covid-19 pandemic has had a negative impact on the global vacuum pressure impregnated (VPI) transformer market. This is mainly because of the disruption of supply chains, delaying in several new projects and their construction during the period of crisis. However, gradually with the innovative strategies of many leading market players to supply products online has suddenly inclined the growth of the market during the strict lockdown and created massive investment opportunities for the vacuum pressure impregnated (VPI) transformer market.