With the growing concern for safety in electronics equipment and to prevent the equipment from any damages, the need for industrial controller transformers has grown and contributed to the overall market growth. The industrial controller transformer market is anticipated to witness growth over the forecast period due to better efficiency of the three-phase segment in industrial applications in comparison with the single-phase segment.
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Moreover, the primary factors boosting the industrial controller transformer market include amplified use of industrial control transformer in major industries and the flourishing power sector. Furthermore, amplified power generation capacities across the world and need to reduce equipment failure caused by frequent voltage spikes also drive the growth of this market.
Need to decrease the equipment fiasco triggered by frequent voltage spikes and augmented implementation of industrial control transformers across industries are expected to boost the industrial controller transformer market. However, the failure of the industrial controller transformers due to voltage spikes and lightning transients may lead to damages of various devices in which these transformers are used, for example, motors, contactors, solenoids, relays, and others.
The global industrial controller transformer market is studied across the major four regional markets, including North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to be the largest revenue generator in the global market over the coming years in response to the industrialization and infrastructural developments in India and China. Besides, the Middle East is expected to register significant growth due to increase in focus on expanding its manufacturing capabilities. This is mainly attributed to change the region’s role as a raw material supplier to a finished goods provider, within the manufacturing industry.
Companies covered in the market report are ABB, Siemens, Eaton, Schneider, GE, Hubbell, Emerson, Rockwell, Electric Hammond Power Solutions, Boardman Transformers.
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Key benefits of the report:
- This study presents the analytical depiction of the global industrial controller transformer market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global industrial controller transformer market share.
- The current market is quantitatively analyzed from 2022 to 2029 to highlight the global industrial controller transformer market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
COVID-19 scenario analysis:
COVID-19 pandemic has severely affected many industries. It has put a halt on the production process as well as led to shortage of raw materials, thereby hampering the trade cycle. Therefore, the industrial controller transformers market is also getting affected to a considerable extent. Moreover, the electronics sector is a key factor driving the market, but even this sector is suffering due to decline in disposable income of customers due to the pandemic.
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