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Pages: 230 |
Jul 2022 |
The vacuum pressure impregnated (VPI) transformer is a modern and technologically advanced insulated motor coil able to perform at an efficient operating temperature to reduce the degeneration caused by heat. The rise in demand for electricity in major countries like China, India, and others, resulted in need for electricity distribution. Vacuum pressure impregnated (VPI) transformers are generally used to step down high voltage from electricity distribution sector to low voltage, which can be used in industrial and commercial sectors. The technology was developed to withstand moderate to harsh environmental conditions because it has unique features like leak-proof, can withstand high pressure, and prevent from corrodibility. Thus, vacuum pressure impregnated (VPI) transformers can be used in offshore applications like oil drilling rigs, cargo ships, and more as offshore conditions are harsh and moisture-filled environment can cause corrosion to motor components. Also, various chemicals used in drilling rigs and ships can cause degradation to iron components in other transformers. These factors are expected to drive market growth.
The technological advancement in vacuum pressure impregnated (VPI) transformers like triangle coil wound technology in vacuum pressure impregnate transformer has impacted the cost of production and limited voltage range to medium voltage range, which is anticipated to harm the market growth.
Increasing global population is estimated to increase the use of electricity. Ultimately, increasing distribution of electricity, for which transformers are used, will enable the vacuum pressure impregnated (VPI) transformer to gain a market share. Governments of different countries have initiated various schemes to reduce the global carbon footprint and are looking into alternative solutions for energy production. China’s recent development in renewable sources of energy has made it a global market leader in wind and solar power technology. Hence, there has been an increase in requirement of vacuum pressure impregnated (VPI) transformer for distribution of electricity from renewable sources of energy.
According to regional analysis, the Asia-Pacific vacuum pressure impregnated (VPI) transformer market share accounted for $ 576.8 million in 2021 and is predicted to grow with a CAGR of 5.9% in the projected timeframe.
The vacuum pressure impregnated (VPI) transformer is a transformer which has pressure controlled polyester resin impregnated into the transformer coil for better penetration of varnish into the coils, providing better protection from the harsh environment. The vacuum pressure impregnated (VPI) transformer is used in many industrial sectors, including chemical sector, pharmaceutical sector, refineries, construction sector, renewable energy sector, and steel industries.
The COVID-19 pandemic caused chaos in the world, bringing the whole world to a stop. The global vacuum pressure impregnated (VPI) transformer market was greatly impacted by COVID-19, as many countries imposed lockdowns due to the pandemic. The industrial market, which was also significantly impacted by the pandemic, found that the producers of renewable energy are the main consumers of dry type transformers. Global supply chains had been disrupted by full or partial lockdowns, which slowed project construction and prevented the commissioning of renewable power projects, biofuel facilities, and renewable heat investments. In the global solar sector, China supplies more than 40% of Chain's raw materials. China suffered the most due to COVID-19 in terms of material supply and shipping, since it was also the recognized source of pandemic. According to the Asian Institute of Technology, the leading international organization for higher education, they estimated a reduction of 30% in oil use due to less air traffic and the worldwide isolation of people due to a pandemic along with 40% reduction in demand for coal during COVID. Thus, it impacted the oil and energy industries, and conclusively demand for vacuum pressure impregnated (VPI) transformer reduced due to shutdown of various industries and small scale industries in lockdown.
A quick recovery of electricity demand by the end of 2020 was seen when lockdown restrictions were eased. Industrial activities started, leading to a surge in the demand for transformers. It posted strong growth in the vacuum pressure impregnated (VPI) transformer market trend by the high demand for electricity and oil from the industrial and commercial sectors.
The growing demand for energy distribution has expanded in recent years as a result of the huge growth of various industries. The distribution and transformation of energy require the high tenacity of transformers. The vacuum pressure impregnated (VPI) transformer has high dielectric strength, high mechanical strength, and superlative protection against moisture and chemicals. Hence, a vacuum pressure impregnated (VPI) transformer is a suitable choice for energy distribution. Chemicals, pharmaceuticals, steel, refineries, mining, captive power projects, hydropower projects, and wind-mill farms all require a specific voltage output to function productively and safely. The pressure impregnated vacuum (VPI) transformer is an appropriate fit to achieve the safety and voltage demands of these industries. Depending on the country's resource base, organizational & technological competence, policy framework, availability of financing for cost variations, and trade-offs, the World Bank Group will encourage and finance all sources of renewable energy. The vacuum pressure impregnated (VPI) transformer is one of main equipment in renewable energy projects. For instance, the solar photovoltaic system requires photovoltaic cells, batteries, and transformers to convert solar energy into electrical energy. These drivers are expected to augment the market's growth.
To know more about global vacuum pressure impregnated (VPI) transformer market drivers, get in touch with our analysts here.
Technological advancements in the vacuum pressure impregnated (VPI) transformers have increased the cost of the transformers due to their complex structure. The vacuum pressure impregnated (VPI) transformer cost is high compared to wet type or oil-bound transformers. Vacuum pressure impregnated (VPI) transformer fails to perform over 2000 KVA. Also, it is not suitable for high voltage applications. Hence, it is expected to limit the growth of the vacuum pressure impregnated (VPI) transformer market.
The expansion of electricity distribution grids in many developing countries is driving the demand for vacuum pressure impregnated (VPI) transformers. VPI transformers are the most developed and researched transformers in the market, providing many benefits over the traditional wet type or oil immersed transformers.
The cutting-edge triangle wound technology has been made available thanks to advancements in manufacturing techniques and higher performance needs. This symmetrical structure in VPI is capable of producing significant savings and benefits in areas such as footprint, weight, improved efficiency levels, and increased life extension of vacuum pressure impregnated (VPI) transformer.
Many countries are taking initiatives to reduce their carbon-dioxide emissions by 2030. This includes a shift to renewable sources of energy (solar, wind, and hydropower), rather than depending on fossil fuels. According to the International Energy Agency, an autonomous intergovernmental organization, the renewable energy market has recorded 8% growth from December 2021. Also, solar PV is set to record 60% growth till the end of 2022. The vacuum pressure impregnated (VPI) transformer can be employed through low voltage to medium voltage ranges, thus it is used in transmission & distribution of electricity in solar photovoltaic system and wind mill farms. These aspects will create demand for vacuum pressure impregnated (VPI) transformers and are anticipated to build huge opportunities for the vacuum pressure impregnated (VPI) transformer market.
India’s Nationally Determined Contributions (NDC) are said to reduce India's green- house emissions by 33-35% by 2030 and to achieve 40% energy production from renewable sources of energy.
To know more about global vacuum pressure impregnated (VPI) transformer market opportunities, get in touch with our analysts here.
Based on phase, market has been separated into two phases: single-phase and three-phase.Throughout the projected period, the single-phase category is expected to show the fastest growth in market share.
Source: Research Dive Analysis
The single-phase vacuum pressure impregnated (VPI) transformer sub-segment is expected to have the fastest market growth and generate a revenue of $2,180.8 million by 2030, growing from $1,289.6 million in 2021.In most households and offices, single-phase vacuum pressure impregnated (VPI) transformers are employed as the primary power source for various daily activities like powering motors, entertainment device, kitchen tools, computers, and more. Because of the widespread use of single-phase VPI transformers, their market has become the most dominant.
Three-phase vacuum pressure impregnated (VPI) transformer sub-segment is anticipated to be the dominating market share and generate a revenue of $291 million by 2030, growing from $150.7 million in 2021. Three-phase VPI transformers offer a number of benefits, including low operational risk, reduced copper consumption, high conductance efficiency, and the ability to handle a wide range of power loads.
Based on voltage range, the market has been segmented into low and medium voltage ranges. Throughout the forecast period, the medium voltage sub-segment is expected to be the dominating sub-segment.
Source: Research Dive Analysis
The vacuum pressure impregnated (VPI) transformer market's low voltage sub-segment is anticipated to have a fastest growth and generate a revenue of $1,771 million by 2030, growing from $1,017.8 million in 2021. Low voltage vacuum pressure impregnated (VPI) transformers are the best option due to heat inductivity, efficiency in electricity conductivity, and environmentally friendly dry transformer. They are widely employed in commercial, institutional, and industrial settings. Landscape lighting that runs on 12–24 volts can use a low-power transformer as a low voltage lighting transformer. The outdoor lighting transformer reduces the 110 volt or 230 volt line voltage to a low value that can be used to power lights. Rectifiers use low-power transformers to reduce the AC main voltage to a low level, which is then converted to DC voltage using a diode and capacitor circuit. These important aspects may contribute to the expansion of the sub-segment.
The vacuum pressure impregnated (VPI) transformer market’s medium voltage sub-segment is anticipated to have a dominant market share and generate a revenue of $700.8 million by 2030, growing from $422.5 million in 2021.The transformer in the electric power distribution system steps down the voltage used in the distribution lines to the level used by the customer. This is accomplished by a medium-voltage distribution transformer, also known as a service transformer.
The market has been classified into three categories based on end-use: industrial, commercial, and others. Throughout the forecast period, the industrial sub-segment is expected to dominate the market share.
Source: Research Dive Analysis
The industrial sub-segment is anticipated to have a dominant market share and generate a revenue of $1,318.5 million by 2030, growing from $787.1 million in 2021. Technological advancements in vacuum pressure impregnation techniques are expected to drive the demand for VPI transformer along with their rising demand from industries such as oil, gas, automobiles, steel manufacturing, the electrochemical industry, and others. Furthermore, Permali Wallace Pvt. Ltd., leading component producer of railway transformer, uses permawood in railway transformers with a 400kv capability. These are composite materials made of partially impregnated wood veneer and synthetic resin. They consist of coil support platforms, coil clamping rings, and more. Such innovations have resulted in the development of smart transformers that can deliver power to various electric devices. VPI transformers are also used in the refineries & oil industry to produce or deliver high currents over a wide voltage range.
The commercial sub-segment is anticipated to show fastest growth and shall generate a revenue of $839 million by 2030, increasing from $472.5 million in 2021. The VPI transformers have unique characteristics like high thermal inductivity, high mechanical strength, low maintenance, and leak-proof, which can meet the highly demanding requirements of the commercial sector like housing societies and offices. These key factors are expected to enhance the sub segment's growth.
In North America, the market for vacuum pressure impregnated (VPI) transformers is expected to grow significantly. Due to superior advantages, the North America’s vacuum pressure impregnated (VPI) transformer market is largely driven by key factors such as considerable expenditures by market participants and the adoption of modern systems such as revolutionary technologies in vacuum pressure impregnated (VPI) transformers. Furthermore, advancements in technologies of industries demand vacuum pressure impregnated (VPI) transformer, which is expected to enhance demand for vacuum pressure impregnated (VPI) transformer services, resulting in vacuum pressure impregnated (VPI) transformer market growth.
The vacuum pressure impregnated (VPI) transformer market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Source: Research Dive Analysis
The Asia-Pacific vacuum pressure impregnated (VPI) transformer market accounted for $1,440.3 million in 2021 and is projected to grow with a CAGR of 6.2%. The Asia-Pacific vacuum pressure impregnated (VPI) transformer market size is expected to dominate market share. As a result of technological advancements in the electrical industry, increased renewable energy consumption, and increased government initiatives in developing countries such as India and China to promote energy-efficient solutions, the market is expected to grow. Vacuum pressure impregnated (VPI) transformers can be employed in transmission and distribution of electricity due to its electrical efficiency and conductivity. Furthermore, the Australian government has implemented a number of policies and granted subsidies to encourage the use of wind energy, solar energy, and other renewable energy sources, due to which VPI transformers are in high demand.
Source: Research Dive Analysis
Some of the leading vacuum pressure impregnated (VPI) transformer market players 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 are some of the leading vacuum pressure impregnated (VPI) transformer market players.
The organizations in the vacuum pressure impregnated (VPI) transformer market are concentrating on mergers and acquisitions as well as sophisticated product development. These are the successful strategies used by both startups and established businesses. For instance, on June 24, 2022, Siemens Electric Machines SRO, Czech based company, leading in production of motors, opened new operation unit in Drásov, which houses the production of modern technology vacuum pressure impregnation operation unit.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2030 |
| Base Year for Market Estimation | 2021 |
| Forecast Timeline for Market Projection | 2022-2030 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Phase |
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| Segmentation by Voltage Range |
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| Segmentation by End-use |
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| Key Companies Profiled |
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1.Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation
1.5.1.Top-down approach
1.5.2.Bottom-up approach
2.Report Scope
2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on Global vacuum pressure impregnated transformer market
3.Executive Summary
4.Market Overview
4.1.Introduction
4.2.Growth impact forces
4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.4.1.Technology matrix
4.4.2.Regulatory matrix
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.6.PESTLE analysis
4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental
4.7.Impact of COVID-19 on vacuum pressure impregnated transformer market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Vacuum Pressure Impregnated (VPI) Transformer Market Analysis, by Phase
5.1.Overview
5.2.Single-phase
5.2.1.Definition, key trends, growth factors, and opportunities, 2021-2030
5.2.2.Market size analysis, by region, 2021-2030
5.2.3.Market share analysis, by country, 2021-2030
5.3.Three-phase
5.3.1.Definition, key trends, growth factors, and opportunities, 2021-2030
5.3.2.Market size analysis, by region, 2021-2030
5.3.3.Market share analysis, by country, 2021-2030
5.4.Research Dive Exclusive Insights
5.4.1.Market attractiveness, 2021-2030
5.4.2.Competition heatmap, 2021-2030
6.Vacuum Pressure Impregnated (VPI) Transformer Market Analysis, by Voltage Range
6.1.Low Voltage Range
6.1.1.Definition, key trends, growth factors, and opportunities, 2021-2030
6.1.2.Market size analysis, by region, 2021-2030
6.1.3.Market share analysis, by country, 2021-2030
6.2.Medium Voltage Range
6.2.1.Definition, key trends, growth factors, and opportunities, 2021-2030
6.2.2.Market size analysis, by region, 2021-2030
6.2.3.Market share analysis, by country, 2021-2030
6.3.Research Dive Exclusive Insights
6.3.1.Market attractiveness, 2021-2030
6.3.2.Competition heatmap, 2021-2030
7.Vacuum Pressure Impregnated (VPI) Transformer Market Analysis,
By End-use
7.1.Industrial
7.1.1.Definition, key trends, growth factors, and opportunities, 2021-2030
7.1.2.Market size analysis, by region, 2021-2030
7.1.3.Market share analysis, by country, 2021-2030
7.2.Commercial
7.2.1.Definition, key trends, growth factors, and opportunities, 2021-2030
7.2.2.Market size analysis, by region, 2021-2030
7.2.3.Market share analysis, by country, 2021-2030
7.3.Others
7.3.1.Definition, key trends, growth factors, and opportunities, 2021-2030
7.3.2.Market size analysis, by region, 2021-2030
7.3.3.Market share analysis, by country, 2021-2030
7.4.Research Dive Exclusive Insights
7.4.1.Market attractiveness, 2021-2030
7.4.2.Competition heatmap, 2021-2030
8.Vacuum Pressure Impregnated Transformer Market, by Region
8.1.North America
8.1.1.U.S.
8.1.1.1.Market size analysis, by Phase, 2021-2030
8.1.1.2.Market size analysis, by Voltage Range, 2021-2030
8.1.1.3.Market size analysis, by End-use, 2021-2030
8.1.2.Canada
8.1.2.1.Market size analysis, by Phase, 2021-2030
8.1.2.2.Market size analysis, by Voltage Range, 2021-2030
8.1.2.3.Market size analysis, by End-use, 2021-2030
8.1.3.Mexico
8.1.3.1.Market size analysis, by Phase, 2021-2030
8.1.3.2.Market size analysis, by Voltage Range, 2021-2030
8.1.3.3.Market size analysis, by End-use, 2021-2030
8.1.4.Research Dive Exclusive Insights
8.1.4.1.Market attractiveness, 2021-2030
8.1.4.2.Competition heatmap, 2021-2030
8.2.Europe
8.2.1.Germany
8.2.1.1.Market size analysis, by Phase, 2021-2030
8.2.1.2.Market size analysis, by Voltage Range, 2021-2030
8.2.1.3.Market size analysis, by End-use, 2021-2030
8.2.2.UK
8.2.2.1.Market size analysis, by Phase, 2021-2030
8.2.2.2.Market size analysis, by Voltage Range, 2021-2030
8.2.2.3.Market size analysis, by End-use, 2021-2030
8.2.3.France
8.2.3.1.Market size analysis, by Phase, 2021-2030
8.2.3.2.Market size analysis, by Voltage Range, 2021-2030
8.2.3.3.Market size analysis, by End-use, 2021-2030
8.2.4.Spain
8.2.4.1.Market size analysis, by Phase, 2021-2030
8.2.4.2.Market size analysis, by Voltage Range, 2021-2030
8.2.4.3.Market size analysis, by End-use, 2021-2030
8.2.5.Italy
8.2.5.1.Market size analysis, by Phase, 2021-2030
8.2.5.2.Market size analysis, by Voltage Range, 2021-2030
8.2.5.3.Market size analysis, by End-use, 2021-2030
8.2.6.Rest of Europe
8.2.6.1.Market size analysis, by Phase, 2021-2030
8.2.6.2.Market size analysis, by Voltage Range, 2021-2030
8.2.6.3.Market size analysis, by End-use, 2021-2030
8.2.7.Research Dive Exclusive Insights
8.2.7.1.Market attractiveness, 2021-2030
8.2.7.2.Competition heatmap, 2021-2030
8.3.Asia Pacific
8.3.1.China
8.3.1.1.Market size analysis, by Phase, 2021-2030
8.3.1.2.Market size analysis, by Voltage Range, 2021-2030
8.3.1.3.Market size analysis, by End-use, 2021-2030
8.3.2.Japan
8.3.2.1.Market size analysis, by Phase, 2021-2030
8.3.2.2.Market size analysis, by Voltage Range, 2021-2030
8.3.2.3.Market size analysis, by End-use, 2021-2030
8.3.3.India
8.3.3.1.Market size analysis, by Phase, 2021-2030
8.3.3.2.Market size analysis, by Voltage Range, 2021-2030
8.3.3.3.Market size analysis, by End-use, 2021-2030
8.3.4.Australia
8.3.4.1.Market size analysis, by Phase, 2021-2030
8.3.4.2.Market size analysis, by Voltage Range, 2021-2030
8.3.4.3.Market size analysis, by End-use, 2021-2030
8.3.5.South Korea
8.3.5.1.Market size analysis, by Phase, 2021-2030
8.3.5.2.Market size analysis, by Voltage Range, 2021-2030
8.3.5.3.Market size analysis, by End-use, 2021-2030
8.3.6.Rest of Asia Pacific
8.3.6.1.Market size analysis, by Phase, 2021-2030
8.3.6.2.Market size analysis, by Voltage Range, 2021-2030
8.3.6.3.Market size analysis, by End-use, 2021-2030
8.3.7.Research Dive Exclusive Insights
8.3.7.1.Market attractiveness, 2021-2030
8.3.7.2.Competition heatmap, 2021-2030
8.4.LAMEA
8.4.1.Brazil
8.4.1.1.Market size analysis, by Phase, 2021-2030
8.4.1.2.Market size analysis, by Voltage Range, 2021-2030
8.4.1.3.Market size analysis, by End-use, 2021-2030
8.4.2.Saudi Arabia
8.4.2.1.Market size analysis, by Phase, 2021-2030
8.4.2.2.Market size analysis, by Voltage Range, 2021-2030
8.4.2.3.Market size analysis, by End-use, 2021-2030
8.4.3.UAE
8.4.3.1.Market size analysis, by Phase, 2021-2030
8.4.3.2.Market size analysis, by Voltage Range, 2021-2030
8.4.3.3.Market size analysis, by End-use, 2021-2030
8.4.4.South Africa
8.4.4.1.Market size analysis, by Phase, 2021-2030
8.4.4.2.Market size analysis, by Voltage Range, 2021-2030
8.4.4.3.Market size analysis, by End-use, 2021-2030
8.4.5.Rest of LAMEA
8.4.5.1.Market size analysis, by Phase, 2021-2030
8.4.5.2.Market size analysis, by Voltage Range, 2021-2030
8.4.5.3.Market size analysis, by End-use, 2021-2030
8.4.6.Research Dive Exclusive Insights
8.4.6.1.Market attractiveness, 2021-2030
8.4.6.2.Competition heatmap, 2021-2030
9.Competitive Landscape
9.1.Top winning strategies, 2021
9.1.1.By strategy
9.1.2.By year
9.2.Strategic overview
9.3.Market share analysis, 2021
10.Company Profiles
10.1.ABB
10.1.1.Overview
10.1.2.Business segments
10.1.3.Product portfolio
10.1.4.Financial performance
10.1.5.Recent developments
10.1.6.SWOT analysis
10.2.Bharat Heavy Electricals Limited
10.2.1.Overview
10.2.2.Business segments
10.2.3.Product portfolio
10.2.4.Financial performance
10.2.5.Recent developments
10.2.6.SWOT analysis
10.3.CG Power & Industrial Solutions Ltd
10.3.1.Overview
10.3.2.Business segments
10.3.3.Product portfolio
10.3.4.Financial performance
10.3.5.Recent developments
10.3.6.SWOT analysis
10.4. Eaton
10.4.1.Overview
10.4.2.Business segments
10.4.3.Product portfolio
10.4.4.Financial performance
10.4.5.Recent developments
10.4.6.SWOT analysis
10.5.General Electric
10.5.1.Overview
10.5.2.Business segments
10.5.3.Product portfolio
10.5.4.Financial performance
10.5.5.Recent developments
10.5.6.SWOT analysis
10.6.Instrument Transformer Equipment Corporation, Inc.
10.6.1.Overview
10.6.2.Business segments
10.6.3.Product portfolio
10.6.4.Financial performance
10.6.5.Recent developments
10.6.6.SWOT analysis
10.7.Raychem RPG Private Limited.
10.7.1.Overview
10.7.2.Business segments
10.7.3.Product portfolio
10.7.4.Financial performance
10.7.5.Recent developments
10.7.6.SWOT analysis
10.8.Schneider Electric
10.8.1.Overview
10.8.2.Business segments
10.8.3.Product portfolio
10.8.4.Financial performance
10.8.5.Recent developments
10.8.6.SWOT analysis
10.9.Siemens
10.9.1.Overview
10.9.2.Business segments
10.9.3.Product portfolio
10.9.4.Financial performance
10.9.5.Recent developments
10.9.6.SWOT analysis
10.10.Toshiba Corporation
10.10.1.Overview
10.10.2.Business segments
10.10.3.Product portfolio
10.10.4.Financial performance
10.10.5.Recent developments
10.10.6.SWOT analysis
11.Appendix
11.1.Parent & peer market analysis
11.2.Premium insights from industry experts
11.3.Related reports
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