Power Transformer Market Demand Analysis, Regional Insight and Research Report, 2020

Felton, Calif., USA, Oct. 21, 2020 — /EPR Network/ —

The global Power Transformer Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

In the year 2013, the global power transformer market comprised of over 11,300 units and is estimated to grow at a CAGR of 5.9% over the forecast period. Market is valued at $ 18 million as of 2013. 

Competitive Landscape: 

Major players such as Alstom SA, Siemens AG, ABB Ltd., Crompton Greaves Ltd., Toshiba Corp and GE Co., dominate the power transformer market. Improvement in the production capacities and increase in the product life are few strategies that are being adopted by these players to maintain their significant share. HVDC, shunt reactors, light and phase shifting variants are provided by various firms to enrich their product portfolio.

Autotransformer, substation and auxiliary, general setup are included in GE portfolio. In order to provide smart grid solutions, Crompton Greaves completed a contract with Saudi Electricity Company (SEC) worth $ 3.6 million. 

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Growth Drivers: 

Increase in the demand for electricity in the rapidly developing nations along with those who are already developed coupled with increase in the amount of investments in infrastructure is expected to drive the market over the next few years. Smart meters which are the result of high demand and supportive initiatives are anticipated to positively impact the market. Government obligations to install advanced power transformers and to modernise existing grids to minimize the losses and enhance efficiency will also positively impact the power transformer market globally.

Increasing awareness about reduction in the pollutants-emission and protection of environment is driving the development of smart grid and super grid. Furthermore, replacement of Polychlorinated Biphenyls (PCB), service expansion in resource-based industries and growth in green initiative awareness is expected to fuel the market over next few years.

However the ever changing prices of raw materials such as copper and steel and crude oil in the global market along with pressurization by manufacturers can act as a restraint over the forecast period.

Product Outlook:

• 100 MVA to 500 MVA
• 501 MVA to 800 MVA
• 800 MVA to 1200 MVA

Regional Insight: 

40% of the total revenue generated from power transformers was from the region of Asia-Pacific in the year 2103 and is forecasted to acquire significant gains over the next five years due to the rapid economic developments and need of nations for uninterrupted power supply.

Due to increasing modernization and industrialization, North American region will be the emerging market over the next few years. Numerous environmental protection initiatives undertaken by the European nations to implement green transformers will drive the market over the forecast period.

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