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.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/power-transformers-market
Further Key findings from the study suggest:
·
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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
No comments:
Post a Comment