The global vacuum pressure-impregnated transformer market size was US$ 1.4 billion in 2021. The global vacuum pressure-impregnated transformer market size is estimated to reach US$ 2.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2022 to 2030.
A vacuum pressure-impregnated transformer is a stylish insulated motor coil that can work accurately at high temperatures to minimize heat dissipation. This technology was introduced to resist medium to extreme environmental situations owing to its special features like high-pressure resistance, corrosion resistance, and leak-proof. Thus, VPI transformers can be operated in offshore applications where circumstances at sea are severe as longer life in moist and salty conditions can direct to corrosion of motor segments.
Factors Affecting Marketing Growth
The increase in the power distribution sector and such applications drive the growth of the global market.
VPI is the most commonly used transformer to meet the need for power distribution, and the increasing need for electricity distribution from different endeavors are factors expected to drive the growth of the global market.
High voltage is needed by some medical devices, but a VPI transformer is not appropriate for high voltage devices and this is further expected to hinder the growth of the global market.
Impact on COVID-19 Analysis
COVID-19 had a negative impact on the growth of the global market, as many countries set strict lockdown restrictions. The lockdown impacted the supply chain concerning the import, export, and uncertainties in the manufacturing of transformers around the world. Reduced economic activity, Lower airplane activity, and industry shutdowns posed a hazard to the power and energy sectors as they are the largest clients of the global market.
North America is anticipated to encounter the most rapid growth during the forecast period. Significant costs by market players and the adoption of current systems like revolutionary technologies in vacuum pressure-impregnated (VPI) transformers and acquisitions by fundamental players in the sector are the factors that drive the growth of the global market in the region.
The prominent players in the global vacuum pressure-impregnated transformer market are:
Instrument Transformer Equipment Corporation
Bharat Heavy Electricals Limited
CG Power and Industrial Solutions Ltd
The global vacuum pressure-impregnated transformer market segmentation focuses on Phase, Voltage Range, End Use, and Region.
Segmentation on the basis of Phase
Segmentation on the basis of Voltage Range
Segmentation on the basis of End Use
Segmentation on the basis of Region
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America