The globalpower transformer market size is expected to reach USD 28.22 billion by 2020, according to
a new report by Grand View Research, Inc. Emerging technological advancements
along with rising electricity consumption are projected to elevate industry
growth over the next five years. Huge investment in power plant infrastructure
coupled with increasing demand for smart meters is projected to positively
impact demand. Further, several government initiatives for modernizing the
existing grids combined with installation of technologically advanced systems
is anticipated to drive power transformer market growth.
Increasing awareness regarding low carbon
emission due to service expansions in resource-based industries is anticipated
to offer prominent growth opportunities for the industry. Advanced features
offered by eco-friendly devices are projected to replace traditional
transformers, which are not compatible with current technical and environmental
requirements. However, pricing pressure on manufacturing companies coupled with
fluctuating raw material prices are expected to hamper growth.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/power-transformers-market
The power transformer market can be
classified on the basis of products into 100 MVA to 500 MVA, 501 MVA to 800
MVA, and 801 MVA to 1200 MVA. Increased usage of 100 MVA to 500 MVA products in
transmission and distribution network for step-up and step-down application is
expected to drive global demand. High capacity product demand in the Middle
East and Asia Pacific is estimated to drive revenue.
Asia Pacific is expected to dominate the
industry owing to factors such as economic, industrial and social development
in the countries such as China and India. Asia Pacific power transformer market
is anticipated to grow at a CAGR of over 6.0% from 2014 to 2020. Replacement of
aging power infrastructure in North America and Europe is estimated to boost
volume sales in these regions. Further, various initiatives undertaken by
European nations in order to deploy green transformers are projected to
positively impact demand.
Notable players in the industry include GE
Co., Alstom SA, Crompton Greaves Ltd, Toshiba Corp., Siemens AG, ABB Ltd,
Hyundai Heavy Industries Co. China XD Electric, TBA Co Ltd, and Mitsubishi
Electric Co. Companies operating in the power transformer market have to comply
with varied regulations related to performance, environment and efficiency.
View press
release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-power-transformers-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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