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.
Browse full research report on Power Transformer Market: https://www.grandviewresearch.com/industry-analysis/power-transformers-market
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.
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.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/semiconductors
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.
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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