Overview and Scope
A vacuum-pressure encapsulated (VPE) transformer is a type of electrical transformer designed with a vacuum-sealed enclosure to enhance insulation and minimize environmental impact, ensuring efficient and reliable power distribution. It utilizes vacuum technology to eliminate air and moisture, reducing the risk of insulation breakdown and extending the transformer's lifespan.
Sizing and Forecast
The Vacuum Pressure Encapsulated (VPE) Transformer (vpe) transformer market size has grown strongly in recent years. It will grow from $5.21 billion in 2023 to $5.68 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increasing power demand, aging power infrastructure, government initiatives for grid modernization, focus on renewable energy integration, environmental concerns and regulations .
The Vacuum Pressure Encapsulated (VPE) Transformer (vpe) transformer market size is expected to see strong growth in the next few years. It will grow to $7.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rising investments in energy infrastructure, integration of iot and digitalization, focus on energy efficiency, resilience against harsh environmental conditions, growth of smart grid deployments globally. Major trends in the forecast period include adoption of dry-type transformers, customization and modular designs, development of eco-friendly insulation materials, advanced monitoring and diagnostics, advance equipment.
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Segmentation & Regional Insights
The Vacuum Pressure Encapsulated (VPE) Transformer (vpe) transformer market covered in this report is segmented –
1) By Winding: Two Winding, Auto Transformer
2) By Rating: ≤5 MVA, >5 MVA To ≤ 30 MVA, > 30 MVA
3) By Application: Industries, Inner-City Substations, Indoor Or Underground Substations, Renewable Generation, Other Applications
Asia Pacificwas the largest region in the Vacuum Pressure Encapsulated (VPE) Transformer (VPE) transformer market in 2023. The regions covered in the Vacuum Pressure Encapsulated (VPE) Transformer (vpe) transformer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing electricity demand is anticipated to fuel the vacuum-pressure encapsulated (VPE) transformer market. Electricity demand refers to the amount of electrical power being consumed at a given time. It is measured in kilowatts (kW) and represents the rate at which electricity is used. Vacuum-pressure-encapsulated transformers boast excellent mechanical and short-circuit strength, eliminating the risk of fire or explosion and managing electricity by providing effective electrical isolation. For instance, in July 2021, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, global electricity demand is set to increase by 5% in 2021. Further, global electricity generation increased by 2.4% (nearly 700 TWh) in 2022. Therefore, the growing electricity demand is driving the vacuum-pressure encapsulated (VPE) transformer market.
Key Industry Players
Major companies operating in the Vacuum Pressure Encapsulated (VPE) Transformer (vpe) transformer market report are Hitachi Ltd, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens Energy AG , ABB Group, Toshiba Corporation, Eaton Corporation, TBEA Co Ltd , Fuji Electric Co Ltd, WEG SA, Bharat Heavy Electricals Limited (BHEL), Hyundai Electric & Energy Systems Co Ltd, Crompton Greaves Limited, CG Power and Industrial Solutions Limited, Hammond Power Solutions Inc, Virginia Transformer Corp, Voltamp Transformers Limited, Kirloskar Electric Company Limited, Matelec Group
The Vacuum Pressure Encapsulated (VPE) Transformer (vpe) transformer market report table of contents includes:
1. Executive Summary
2. Vacuum Pressure Encapsulated (VPE) Transformer Market Characteristics
3. Vacuum Pressure Encapsulated (VPE) Transformer Market Trends And Strategies
4. Vacuum Pressure Encapsulated (VPE) Transformer Market – Macro Economic Scenario
5. Global Vacuum Pressure Encapsulated (VPE) Transformer Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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