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.
Full Research Report On Power Transformer Market Visit Here:
https://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.
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https://www.grandviewresearch.com/industry-analysis/power-transformers-market/request/rs1
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 info visit @ https://www.grandviewresearch.com
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