Power Transformers Market, Update 2017 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2021
Transformers are used to stepup or stepdown the voltage levels in power transmission and distribution (T&D) networks. A power transformer is installed at all substations, from the power generation plant to the last substation in the transmission network. Power transformers generally have a capacity of 10 megavolt amps (MVA) and above. In the distribution level, transmitted power will be usually below 10MVA and deploys distribution transformers.
Power transformers require higher insulation levels; special designs to control short-circuit currents, and increased cooling requirements. Power transformers are usually liquid-filled as they can efficiently dissipate the heat generated from the transformers’ core.
Global power transformers market is estimated to reach $15billion plus in 2021, registering a compound annual growth rate (CAGR) of 1.69% between 2016 and 2021. In growing economies such as those of Asia-Pacific and the Middle East, new capacity addition in the generation and transmission sector to meet the rise in electricity demand is driving the power transformers market.
With its ambitious plans to expand its ultra-high voltage (UHV) transmission grid and regional connectivity, China topped the global power transformers market in 2016 with a market value of $2,980.7m. One of the fastest-growing economies consuming more than a quarter of global power consumption,China is undertaking extensive capacity addition in power generation and grid expansion. China represented over 20% of the global power transformers market in 2016.
In the Americas and Europe, replacement of aging grid infrastructure and large-scale integration of renewable are driving the power transformers market. It is estimated that large transmission and distribution (T&D) investment will be made across the globe during and beyond the forecast period in order to accommodate the dynamic requirements of the future grid.
India ranks third, next to the US in the global power transformersmarkets, contributing nearly 5% to the global market. The power grid of India is in the development stage, and new capacity additions are made in generation and transmission to support the economic growth of the country. Utilities are currently focusing on strengthening transmission capacity between regional grids.
The other key countries in the power transformers market include Saudi Arabia, growing with an estimated CAGR of 9.08% between 2016 and 2021. Turkey and Egypt are other key countries that offer significant value for the power transformers market. The UK, Germany, and Russia are the three key countries in the European region, with Russia emerging as the biggest market in the EMEA region in 2016. The integration of European electricity market and RES integration such as offshore wind has encouraged transmission sector investments.
The latest report Power Transformers Market, Update 2017 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2021 offers comprehensive information and understanding of the global power transformers market. The report analyzes the current trend and future potential of power transformers market at global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, Canada, Brazil, China, India, Japan, the UK, Germany, Russia, and Saudi Arabia) level.
The report analyzes the power transformers market in terms of value and volume, classified by various voltage segments for the historical (2011-2016) and forecast (2017-2021) periods. The report provides insight into the drivers and restraints affecting the power transformers market, competitive landscape, policies and initiatives, and the key upcoming projects.
Companies included within this research report comprise of Tbea Co., Ltd., ABB Ltd., TWBB, Siemens AG, Xi’an XD Transformer Co., Ltd., General Electric, Hyundai Heavy Industries Co., Ltd., Toshiba Corporation, Crompton Greaves
The report analyses power transformers market. Its scope includes -
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