Power transformers manufacturers are producing electrical devices that transfer electricity between numerous circuits via electromagnetic induction. These devices also control the voltage of the electric applications. One can avail oil cooled transformers and dry transformers in two phases- single and three phases. While they have delivered many units to industrial clients, they also have a vast range of models for residential and commercial sectors that can be installed indoors and outdoors.
Dynamics of Power Transformer Market
As the demand for electricity is increasing with more number of investments by government and private sector in electrical infrastructure, there is a boost in power transformer market. Moreover, replacing the traditional and ageing power transformers with eco-friendly transformers is anticipated to create significant post-market opportunities during the projection phase.
Medium power transformer units are expected to share steady annual growth, while large units are expected to witness healthier growth and adoption of HVDC transmission to cut down the transmission losses during long distance transmission of power.
Power transformer market segmentation –
The market of power transformer is categorized into three types-
- Small power transformers (range up to 75 MVA)
- Medium power transformers (range between 75-800 MVA)
- Large power transformers (above 800 MVA)
These types are followed by sub-types-
- Oil cooled transformer
- Air cooled or dry transformer
Significance of Transformer oil in a unit
Transformer oil is used inside the oil immersed unit and in some other system like high voltage capacitors, circuit breakers, etc.
The purpose of transformer oil is to regulate the high temperatures of transformer unit with superb electrical insulating properties and cooling property.
Function of transformer oil –
Transformer oil serves the purpose of electrical insulation in the unit. It acts like a cooling media that transfers heat to the tank wall or conservator. It acts as a suppression of corona and arcing.
What types of transformer oil are available for use?
- Highly refined mineral oil – This is the mostly used by oil cooled units.
- Vegetable based oil – This type of transformer oil works well in hot environment
- Silicone based oil – This type of transformer oil has high fire resistance but comes at great cost as compared to mineral oil.
- Pentaerythritol tetra fatty acid, natural, and synthetic esters – This type of transformer oil is low flammable, environment friendly, and has high moisture tolerance as compared to mineral oil
As compared to other transformer types, oil cooled units are preferred over air cooled systems due to their safety reasons. Moreover, users of oil cooled transformers are able to handle high voltage current better. Thus, these transformers are expected to have a higher CAGR than air cooled power transformers. The entire global power transformer market may see CAGR growth at 7.8% during the forecast period.
The only challenging thing that affects the growth of the oil cooled transformers market is its high initial cost of manufacturing. To accept this challenge, various subsidies are provided by regional governments in order to cover the cost.