Hungary Transformer Market (2024-2030) | Size, Value, Analysis, Revenue, Forecast, Industry, Share, Outlook, Trends, Growth & Companies

Topics Covered in Hungary Transformer Market Report

The Hungary Transformer Market report thoroughly covers the market by Core, Product, Winding, application, Cooling, Rating and Phase. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Hungary Transformer Market Synopsis

Hungary Transformer Market is one of the significant markets and is expected to rise during the forecast period. The market is primarily driven by the increasing demand for electricity and the need to upgrade the existing power infrastructure. The country has ambitious goals of increasing the share of renewable energy and reducing greenhouse gas emissions, which will further boost the demand for transformers.

According to 6Wresearch, Hungary Transformer Market size is projected to register a growth rate (CAGR) of 3.10% during 2024-2030. The Hungarian Transformer Market is primarily driven by the demand for renewable energy, electricity grids, and electric transportation. The country is shifting towards sustainable energy, and the share of renewable energy in total electricity generation is increasing. As a result, there is a growing need for smart grids to integrate renewable energy sources with the existing grid infrastructure. Additionally, the electric vehicle market is also gaining traction in Hungary, and the adoption of electric vehicles necessitates the installation of charging stations which, in turn, will demand the expansion of the electricity grid and the installation of transformers.

The Hungarian Transformer Market faces several challenges, including price fluctuations of raw materials such as copper and iron, which are used in the production of transformers. Moreover, the fluctuation of exchange rates impacts the import of raw materials, affecting manufacturing costs. The industry also faces significant competition from low-cost transformers manufactured in Asia, making it challenging for Hungarian manufacturers to compete in price-sensitive markets.

Key Players of the Market

The Hungarian Transformer Market has a mix of domestic and international players. The major domestic players include Ganz Transelektro Ltd., Trafó-CA of Hungary, Revi-M?vek Kft., Neomax Energy Kft, and Békésvölgye Kft. The international players include Siemens AG, ABB Ltd., GE, Toshiba Corporation and Hyundai Electric & Energy Systems Co Ltd. Domestic manufacturers focus on providing customized transformer solutions for specific applications, while international manufacturers offer both customized solutions and standard transformers.

Transformer Market in Hungary: Government Regulations

The Hungarian government aims to promote the production of energy-efficient electrical technology and equipment. The government has enacted law 118/2013 (VII.15) on Smart Grids that regulates the deployment of intelligent electricity distribution systems, which includes the deployment of advanced transformers. Additionally, the government offers incentives and grants to manufacturers who invest in energy-efficient transformer technologies, which has led to the growth of the domestic manufacturing sector.

Market Segmentation by Product

According to Saurav, Senior Research Analyst, at 6Wresearch, the powers and distribution transformer segments are the two product segments that currently have the most growth in Hungary's transformer market. The increase in power generation capacity and the rise of the automotive industry, especially the EV segment, are driving the demand for these transformers. However, instrument transformers are also crucial for the efficient functioning of the power system, and the growth in the manufacturing industry is expected to increase the demand for these transformers in the future. 

Market Segmentation by Application

The demand for transformers in the Utility sector will continue to be substantial as the need for energy remains ever-increasing. At the same time, the growth in the Industrial sector is powered by the increasing demand for renewable energy sources and eco-friendly technologies.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Hungary Transformer Market Outlook
• Market Size of Hungary Transformer Market, 2023
• Forecast of Hungary Transformer Market, 2030
• Historical Data and Forecast of Hungary Transformer Revenues & Volume for the Period 2020 - 2030
• Hungary Transformer Market Trend Evolution
• Hungary Transformer Market Drivers and Challenges
• Hungary Transformer Price Trends
• Hungary Transformer Porter's Five Forces
• Hungary Transformer Industry Life Cycle
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Core for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Closed for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Shell for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Berry for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Product for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Power transformer for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Distribution transformer for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Instrument transformer for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Winding for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Two-winding for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Auto-transformer for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Residential & Commercial for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Utility for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Industrial for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Cooling for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Dry type for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Oil Immersed for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Insulation for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Gas for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Oil for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Solid for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Air for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Phase for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Single phase for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By 3 - phase for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By Rating for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By ? 10 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By 11 MVA to 60 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By 61 MVA to 600 MVA for the Period 2020 - 2030
• Historical Data and Forecast of Hungary Transformer Market Revenues & Volume By > 600 MVA for the Period 2020 - 2030
• Hungary Transformer Import Export Trade Statistics
• Market Opportunity Assessment By Core
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Winding
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Cooling
• Market Opportunity Assessment By Insulation
• Market Opportunity Assessment By Phase
• Market Opportunity Assessment By Rating
• Hungary Transformer Top Companies Market Share
• Hungary Transformer Competitive Benchmarking By Technical and Operational Parameters
• Hungary Transformer Company Profiles
• Hungary Transformer Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Core

• Closed
• Shell
• Berry

By Product

• Power Transformer
• Distribution Transformer
• Instrument Transformer
• Others

By Winding

• Two-Winding
• Auto-Transformer

By Application

• Residential & Commercial
• Utility
• Industrial

By Cooling

• Dry-Type
• Oil Immersed

By Phase

• Single Phase
• 3 – Phase

By Rating

• 10 MVA
• 11 MVA To 60 MVA
• 61 MVA To 600 MVA
• > 600 MVA

Hungary Transformer Market (2024-2030): FAQs