市场调查报告书
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1563747
日本变压器市场评估:依类型、冷却类型、电压、应用、地区、机会和预测(2018年度-2032年度)Japan Transformers Market Assessment, By Type, By Cooling Type, By Voltage, By Application By Region, Opportunities and Forecast, FY2018-FY2032F |
日本变压器市场规模预计将从2024年度的56.1亿美元增至2032年度的80.4亿美元,预计在2025年度至2032年度的预测期内年复合成长率为 4.60%。向再生能源转型、智慧电网发展、城市化进程加快、交通电气化以及对能源效率的重视等因素预计将推动市场成长。此外,针对碳中和、再生能源整合和电网现代化的政府政策,以及对有弹性和高效的能源基础设施的需求,预计也将在预测年内推动变压器市场的成长。
日本正大力投资再生能源专案和储能系统整合。该系统需要变压器来转换和管理再生能源的流动,增加了对专用变压器的需求。此外,日本的目标是到2030年36-38%的电力来自再生能源。政府正积极致力于建立太阳能发电厂、风电场和其他再生能源计画,预计这将在预测年内扩大变压器市场规模。
例如,在2024年 6月举行的COP28 会议上,日本承诺在2030年将其再生能源发电能力增加两倍。这项投资在预测期内为变压器市场创造了机会。
本报告研究和分析了日本变压器市场,提供市场规模和预测、市场动态以及主要公司的状况。
Japan transformers market is projected to witness a CAGR of 4.60% during the forecast period FY2025- FY2032, growing from USD 5.61 billion in FY2024 to USD 8.04 billion in FY2032. Factors such as energy transition towards renewable sources, smart grid development, growing urbanization, the electrification of transportation, and a focus on energy efficiency are expected to drive the growth of the market. Moreover, government policies targeting carbon neutrality, renewable energy integration, and power grid modernization, along with the need for resilient and efficient energy infrastructure, will continue to drive growth in the transformer market in the forecast years.
Japan is heavily investing in the integration of energy storage systems with renewable energy projects. The systems require transformers to convert and manage the renewable energy flows, which robust the demand for specialized transformers. In addition, Japan is aiming to generate 36-38% of energy from renewables by 2030. The government is heavily in starting solar farms, wind parks, and other renewable energy projects, which will foster the transformers market size in the forecast years.
For instance, in June 2024, at the COP28 event, Japan committed to triple-installed renewable energy capacity by 2030. The investment will create an opportunity for the transformers market in the forecast period.
Expansion of Power Distribution Networks Augmenting Market Growth
Japan is looking to electrify the rural and remote areas in the country. The rural areas are gradually being connected to the national grid or provided with localized microgrid solutions. Providing electricity to remote areas by extending power networks will require new transformers to reduce high-voltage electricity from transmission lines for local use. Moreover, the Japanese government's investment in the power sector ensures energy access across the entire country, which boosts the transformers market growth.
Microgrids are being implemented to ensure reliable power supply independent of the central grid. These microgrids require distribution transformers for effective energy management, which drives the demand for transformers in the market.
Moreover, in some parts of Japan, the power distribution networks, especially in urban and industrial areas, have become old and require upgrades to meet modern efficiency standards. The replacement of older transformers with innovative technology models will create the demand for transformers in the market.
Thus, with increased electrification, renewable energy integration, and smart grid development, urbanization expands the power distribution network. For instance, in August 2024, Tokyo Electric Power Co. Holdings expects to invest USD 3.2 billion in the power grid over the forecast years as Japanese utilities prepare for a rise in power consumption.
Rapid Growth of Renewable Energy and Green Initiatives Expands Market Size
Japan is investing in large-scale solar farms and rooftop solar installations across the country, which require transformers to reduce the voltage from solar arrays to usable levels for end-users. With the expansion of solar farms, especially in rural and suburban areas, the demand for power and distribution transformers in the market is rising.
Moreover, the country's government is investing heavily in onshore and offshore wind farms. Wind farms generate electricity from end-users, which require high-capacity transformers to transmit the electricity over long distances efficiently. With the development of wind energy infrastructure, the demand for the transformer market will increase due to specialized units.
Japan is highly focusing on boosting the share of renewables in its energy mix to reduce reliance on fossil fuels and nuclear power. Renewable energy sources, such as wind and solar, produce variable and intermittent power. Managing the variable power requires advanced transformers, which are capable of ensuring stable voltage and frequency, driving the demand for transformers in the renewable energy sector.
For instance, in November 2023, Japan decided to invest USD 13.27 billion in green transformation projects over the next three years.
Technology Advancements in Transformers
Several developments are happening in transformers, which create opportunities for different applications. Technological advancements in the transformer market include the development of smart transformers. The new smart transformer includes integrated sensors, data analytics, and IoT technologies into transformers that can monitor voltage, current, temperature, and other parameters in real-time, allowing utility companies to optimize power flow and detect issues before any failures. Japan is investing in smart transformer technology as automated, real-time monitoring is essential for balancing supply and demand, especially with fluctuating renewable energy sources such as solar and wind.
Another technological development in the transformer market is the development of amorphous metal core transformers. The transformers have much lower core losses compared to traditional transformers, which makes the product highly energy efficient. The new amorphous core transformers assist in reducing carbon emissions and improving energy efficiency, which creates an opportunity for transformers to be in the market.
For instance, in May 2023, according to M&I Materials, companies are using fire-safe ester-based insulating fluids in electrical transformers, which are biodegradable, greener, and more efficient in data center operations.
Distribution Transformers to Dominate the Share of Japan Market
In Japan, the distribution transformers have a high adoption rate, which makes the segment dominate the market share. The layout of Japanese cities requires a decentralized distribution network to deliver power reliably across numerous buildings and infrastructure. The power distribution process necessitates the deployment of a substantial number of distribution transformers to manage localized electricity supply efficiently and safely. Moreover, the ongoing expansion of residential and commercial developments and increased electrification of transport led to a boost in the demand for distribution transformers in the country.
Furthermore, new residential developments, commercial spaces, and public infrastructure projects in urban areas require distribution transformers to provide reliable power supply, driving the growth of the transformers market. The distribution transformers are helpful in achieving rural electrification, requiring the deployment of thousands of distribution transformers and reducing the voltage from the grid for use in homes, businesses, and farms.
Central Region Leads the Japan Transformers Market Share
The central region dominated the transformers market with the highest market share. Central region has many highly populated cities, such as Tokyo, Osaka, and Yokohama. The densely populated urban city has a high demand for electricity. The demand for power transformers is on the rise as they are used to supply electricity to factories, industrial zones, and production facilities. As industrial output grows, the need for power transformers will rise to handle high electricity loads. Additionally, the rise in interest in electrification of rural areas is expected to be a major factor for market growth during the forecast period.
Future Market Scenario (FY2025 - FY2032F)
Urbanization will continuously drive the demand for transformers as new housing developments extend in addition to commercial complexes, industrial parks, and infrastructure public projects.
With the increasing adoption of electric vehicles in Japan, EV charging stations are expected to drive the opportunity for transformers.
Government plans to electrify all forms of public transport systems will further increase demand for transformers.
Japan continues to modernize the electricity grid, which will boost the demand for transformers in the country.
Key Players Landscape and Outlook
In the transformers market, companies compete to outperform one another in terms of production of power and distribution transformers. Transformers manufacturers are concerned with supply chain resilience, energy efficiency, and environmental practices, which will define the industry's future. Production expansion, collaborations, agreements, and developing technologies are projected to increase competition in the fast-paced market.
For instance, in April 2024, Hitachi Energy announced to invest an additional USD 1.5 billion in transformer production. This development will help the company to expand production to meet accelerating global demand.
All segments will be provided for all regions covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.