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Latest industry research report on Converter Transformer Market. Converter transformer is a special-transformer which is designed for offering high-current low voltage solutions for industrial applications. Converter transformers have widespread applications for large drive applications. Growing trends towards the adoption of renewable energy generation in the global power industry scenario have led different countries to progressively invest into renewable energy projects and these special transformers help they enhance their unconventional power generation capabilities.
The high demand for efficient power transmission solutions, need for integration of smart grid technologies along with the increasing government infrastructure are the key factors driving the growth of the market.
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However, capital-intensive nature of manufacturing processes and the lack of product standardization mechanism are the major factors hampering the growth of the market. Rapidly increasing the power generation by offshore wind farms and growing environmental concerns towards high power transmission features are the factors that will offer ample growth opportunities to the world converter transformer market.
On the basis of power rating the market is segmented into below 500MW, in the range of 501-999MW, 1000-2000MW and more than 2000MW. On the basis of region, the market is segmented into Americas, Europe, and Asia-Pacific.
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The report segments the world converter transformer market on the basis of applications, configuration, and basis of voltage level, power rating, and region.
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