The global power 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 research report on Global
Power Transformer Market: 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.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/semiconductors
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.
For more information: www.grandviewresearch.com
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