Global Power Transformer Market 2015-2019
About Power Transformers
Power transformers are essential electrical equipment used for step-up and step-down voltage applications in power transmission. They are segmented based on power capacity. Power transformers are used by end-users such as the Utilities, Industrial, and Commercial sectors.
TechNavio's analysts forecast the Global Power Transformer market to grow at a CAGR of 6.34 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Power Transformer market for the period 2015-2019. The report considers the revenue generated from the sale of power transformers based on capacity.To calculate the market size and vendor share, the report considers the following:
Technavio Announces the Publication of its Research Report – Global Power Transformer Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Power Transformer Market: ABB Ltd., Alstom SA, GE Co. and Siemens AG
Other Prominent Vendors in the market are: Crompton Greaves, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries, Mitsubishi Electric, Tebian Electric Apparatus Stock, Toshiba and XD Group
Commenting on the report, an analyst from Technavio’s team said: “Decreasing prices of raw materials is one of the key trends being witnessed in the market. Dipping prices of these two raw materials is expected to lead to reduced manufacturing costs, which will ease the burden on end-users such as the Utilities, Industrial, and Commercial sectors.”
According to the report, the replacement of aging transformers with new ones is one of the major drivers of this market. This replacement cycle in the Americas and in Europe is propelling demand for power transformers. Replacing these aging transformers will also ensure efficient electricity networks.
Further, the report states that one of the major challenges in this market is the need for effective product differentiation. The large number of regional and local vendors in the market has forced bigger players to innovate and develop advanced products.
ABB , Alstom , GE , Siemens, Crompton Greaves , Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries , Mitsubishi Electric , Tebian Electric Apparatus Stock , Toshiba , XD Group
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