Increased Industrialization in Developing Countries Propelling the Growth of Power Transformer Market 2025
According to a new report published by Reports Monitor titled, “Global Power Transformer Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Power Transformer Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Power Transformer is a kind of transformer, which mainly does the function of transferring electrical energy in any part of electrical or electronic circuits. It is majorly adopted in the distribution system to interface step up and step down voltages. Due to the higher lifespan of 30 years, liquid immersed power transformers have gained considerable demand in the market. It can alter from one voltage to another higher voltage at high power levels. It is widely adopted in power and industrial plants and traditional electric utility companies.
Growing energy requirement in various industrial and commercial applications has led in the advancement of existing power grids to distribute the energy according to the requirement. Energy being a core component in the daily life and depletion of non-renewable energy sources has resulted in the increased demand efficient technology for power transmission. However, higher cost involved in the power transformer owing to the fluctuation in prices of raw materials such as copper, steel, aluminum may result in hampering the market growth.
This report provides a detailed analysis of Power Transformer Market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and porter’s analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources and with bottom-up and top-down approaches.
The power transformer market is majorly segmented on the basis of power rating and type. Depending upon the power rating, market is segmented into: Low (100 MVA to 500 MVA), medium (501 MVA to 800 MVA), high (801 MVA to 1200 MVA), while depending upon the type, market is segmented into: air cooled and oil cooled.
Based on the geographical regions spanned, market is studied across: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa). Asia Pacific is projected to hold the major market share owing to the increasing power consumption in the developing economies such as China, India and Japan. Immense investment by the government in the electric infrastructure has also contributed in the market growth. North America and Europe is expected to achieve a stable growth owing to the well-established infrastructure and presence of major key players in the market.
The top players in the market are: ASEA Brown Boveri Group, Crompton Greaves Ltd., General Electric Company, Siemens AG, Schneider Electric SA, Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, Tebian Electric Apparatus, Bharat Heavy Electricals Limited, and Toshiba Corporation.
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