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

Topics Covered in Turkey Transformer Market Report

Turkey Transformer Market report thoroughly covers market by Core, Product, Winding, application, Cooling, Rating and Phase. The market report provides an unbiased and detailed analysis of the on-going 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.

Turkey Transformer Market Synopsis

Turkey Transformer Market is expected to register moderate growth during the upcoming years owing to the increasing disposable income. Rising industrialization backed by increasing demand for electricity beholds the Turkey Transformer Market Growth. Additionally, increasing electrification program in the country is driving the development of the market. Increasing government initiatives towards rural electrification coupled with the efforts to reduce power theft is driving the Turkey Transformer Market Share.

According to 6Wresearch, Turkey Transformer Market size is projected to grow at a CAGR of 3.6% during 2024-2030. The surge in electricity demand is one of the significant drivers of the Turkish transformer market. Turkey's population is growing, and urbanization is taking place at a rapid pace. This, in turn, demands an increase in electricity supply. Furthermore, the Turkish government aims to reduce the dependence on imported energy sources and increase domestic production using renewable energy sources like solar and wind. The integration of these renewable sources into Turkey's electricity network is driving the transformer market growth in the country.

Many challenges are facing the Turkish transformer market. One of the main challenges is the lack of investment in research and development. The local manufacturers struggle to keep up with the technological advancements and innovations in the transformer industry. Additionally, as Turkey's transformer industry relies on imports for many raw materials, the fluctuations in the currency exchange rates can impact production cost and prices. Another crucial challenge that the industry faces is the increasing competition from foreign manufacturers.

Transformer Market in Turkey: Key Players

The Turkish transformer market is dominated by both local and international players. Some of the prominent local companies are Ertug Energy, Ayd?n Trafo, and ?stanbul Elektrik Elektronik, while international players include Siemens, ABB, and Schneider. However, with the increasing competition, the local manufacturers and suppliers are struggling to keep up with the quality and standards that their international counterparts offer.

Turkey Transformer Industry: Government Regulations

The Turkish government has implemented various initiatives to encourage the use of renewable energy sources and support the local transformer industry. In 2013, the government launched the National Renewable Energy Action Plan aiming to increase the share of renewable energy in the country's electricity mix. The plan aims to achieve a 30% share of renewable energy in total electricity generation, of which 10% will be provided by hydropower, 16% from wind, 2% from solar, and 2% from geothermal. Additionally, the government provides subsidies and incentives to companies investing in renewable energy. The subsidies can cover up to 50% of the total investment cost.

Market Segmentation by Core

According to Shubham Deep, Senior Research Analyst, 6Wresearch, closed-core transformers dominated the market and they will continue to dominate it in the future due to their versatility. Shell-core transformers are also becoming popular, especially in renewable energy projects.

Market Segmentation by Product

Based on product, the distribution transformer market accomplished substantial growth and is expected to dominate the market on the back of the rising industrialization.

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

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

Turkey Transformer Market (2024-2030): FAQs