Covert transformers
help in stepping the voltage of AC supply in network. The covert
transformer is capable of operating with 12 pulses for each cycle in
the AC supply which eliminate numerous harmonic current components by
using a star-to-delta (wye-delta) connection of transformer winding.
Insulation of transformer winding must be specially designed for
withstanding large DC potential to earth. One unit of converter
transformers can be made as large as 300 Mega volt-amperes (MW). It
is very difficult to transfer large transformers, thus when there is
a requirement of a large rating, many individual transformers are
connected together by using two phase, three phase or three
single-phase units. The converter transformer market by configuration
can be segmented into monopolar, back-to-back, bipolar and
multi-terminal, by power rating the converter transformer market can
be segmented into below 500 MW, 501 MW-999 MW, 1000 MW-2000 MW and
above 2000 MW. Moreover the converter transformer market has been
segment by voltage level. The converter transformers are used in
windfarms, oil & gas industry and grid connections industry among
other. Increase in population, growth in demand for electricity by
industries and increase in need for energy transmission over long
distance is driving the growth in demand for covert transformers.
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Moreover HVDC (High
Voltage Direct Current) technology is likely to play as a key driver
for the covert transformers market in the near future. High voltage
direct current facilitates high voltage electric transmission between
consumption centers and generation over an extensive distance.
Moreover, stringent environmental regulations globally, is driving
the convert transformer market as there is a growing demand for
cable-based transmission which is replacing the overhead lines
required for transmitting power at a long distance. Furthermore,
power generation from renewable source like hydel plants, offshore
wind farms and distantly located solar panels are likely to drive the
convert transformer market in the near future. High cost and absence
of standardization are the major challenges faced by the covert
transformer manufacturers globally. Moreover, lengthy approval
procedures for HVDC projects are likely to restrain the market.
Globally Asia
Pacific leads the global convert transformer market and this region
is likely to grow with the fastest growth rate. Fast growing
economies like India are expected to drive the market due to huge
demand for covert transformers in the region. China is likely to
invest deeply in the distribution and transmission sector. Europe is
likely to experience the second fastest growth rate after Asia
Pacific due to up gradation and replacement of ageing power sector in
the region.
Some of the key
players operating in the covert transformer market are General
Electric, Abb Ltd., Siemens AG, Tebian Electric Apparatus Stock
Company Ltd., Bharat Heavy Electrics Limited, Cropton Greaves Ltd.,
Toshiba, Shadong Power Equipment Company Limited, Kirloskar Electric
Company Limited and Xian XD Transformers Co. Ltd among others.
This research report
analyzes this market on the basis of its market segments, major
geographies, and current market trends. Geographies analyzed under
this research report include
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
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