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According to a new
research report published by Transparency Market Research (TMR),
titled “Large Power Transformers Market - Global power Industry
Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”,
the global large transformers market was valued at US$18.35 billion
in 2013. TMR states that the market will expand at a CAGR of 7.8%
from 2014 to 2020 to reach US$31.05 billion by 2020. By volume, the
demand for large power transformers will reach 18,709 units by 2020,
increasing from 11,223 units in 2013 at a 7.7% CAGR from 2014 to
2020.The report states that easy availability of technologically
improved products and increasing use of electricity in agriculture,
industrial production, and domestic use is primarily driving the
large power transformers market.
Browse the full
Large Power Transformers Market report at:
In the coming years,
environment-friendly large power transformers will observe
substantial growth due to their environmental viability and advanced
related features, according to TMR analysts. Global environmental
considerations take into account the need for low emissions and water
conservation for both new and existing power plants. To cater to such
needs, leading companies such as Alstom have launched green
transformers for environmentally sensitive areas. Likewise, Crompton
Greaves Ltd. has developed and installed quiet power transformers for
usage in wildlife reserves and other environmentally sensitive
regions, to reduce noise pollution.
Moreover, in matured
economies, state-run initiatives for upgrade of outdated power grids
with advanced equipment are contributing significantly to the demand
for large power transformers.However, factors such as volatility of
raw material prices are some of the economic restraints that the
market is challenged by.By power rating, 100 MVA to 500MVA large
power transformers are expected to account for the largest market
share for the forecast period owing to widespread use of the same by
utility companies worldwide.Large power transformers with power
ratings in the range of 801MVA to 1200 MVA will be used for UHVDC and
HVDC power generation in Asia Pacific and the Middle East. This is
attributed to the rising energy needs of developing economies in
these regions in the years to come.
For the In depth
Analysis of Large Power Transformers Market Get the Free Sample
Research Report at:
In 2013, Asia
Pacific registered the largest share in the global large power
transformers market due to increasing energy needs combined with
technological advancement in the region. Developing economies such as
China, Malaysia, and India offer immense opportunities for the
overall market for large power transformers. India and China are
anticipated to have consistent demand for large power transformers
owing to the rising electrification ratio in these countries.The Rest
of the World (RoW) region, led by economies in the Middle East, are
expecting stable expansion of their power infrastructures, thus
attracting stiff competition from regional as well as global market
participants.The key players operating in the global large power
transformers market are ABB Ltd., Crompton Greaves Ltd., GE Co,
Hyundai Heavy Industries Ltd., Alstom SA, Siemens AG, and TBEA Co.
Ltd.
The market has
been segmented as follows:
Large Power
Transformers Market, by Power Ratings
100 MVA to 500
MVA
501 MVA to 800
MVA
801 MVA to 1200
MVA
Large Power
Transformers Market, by Geography:
North America
Europe
Asia Pacific
Rest of the
World (RoW)
Browse the full
Press Release of Large Power Transformers Market at:
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