A transformer is a static electro-magnetic electrical device which operates on Faraday’s law of electromagnetism by converting electrical energy from one value to another. Single phase transformers are electrical devices which transfer energy between circuits through electromagnetic induction. This type of transformer generally consists of two electrical coils of wire, known as primary winding and secondary winding. The windings of these transformers are enclosed in pressurized and sealed tanks, and are air-cooled. Moreover, it provides safety against leakage and fire, and also reduces health and environmental concerns. Single phase transformers can withstand moisture and have better short circuit strength and impulse compared to liquid filled transformers. This type of devices are widely used in industrial as well as domestic segments.
The key driving factors for single phase transformer market are increasing demand for electricity worldwide and extensive applicability of these transformers in distribution of electricity. Rapid industrialization in emerging countries coupled with rapid expansion of electricity transmission network globally is likely to fuel the growth of the market for single phase transformers. Moreover, these transformers have various safety advantages over liquid-filled transformers. Thus, single phase transformers are largely used in mining, marine, oil & gas and other industries, which have specific voltage requirements, owing to importance of fire safety in these sectors. Considering all these factors, the market for single phase transformers is expected to witness strong growth during the forecast period. However, factors such as high cost of these devices and lack of government investment in grid stability are restraining the market growth to some extent.