The Global Market for Power Transformers is Projected to Reach US$22 Billion by 2020

Rising Demand for Energy Efficient and Eco-Friendly Power Transformers Drives the Global Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Power Transformers. The global market for Power Transformers is projected to reach US$22 billion by 2020, driven by increasing demand for energy efficient and eco-friendly transformers and robust demand for electricity, particularly in the developing countries.

Electricity consumption over the last few decades soared exponentially with dramatic rise in global population. All forms of economic activity such as industry, agriculture, or services are dependent on uninterrupted power supply. Consumption of electricity is expected to further increase in the coming years driven by rising urbanization, advancement in technologies, and rising demand from residential, commercial and industrial markets. Future growth in the global power transformers market will be driven by the growing population and its demand for energy, ongoing industrialization in developing countries, higher standards of living, and rising environmental awareness, among others. Government funding in terms of establishment of power grids and development of electricity transmission and distribution infrastructure across the world is also expected to benefit demand for power transformers. Another important growth driver is the adoption of energy-efficiency standards in developed markets such as Europe and the US, and in emerging markets such as South Korea and China, which would create demand for new, more efficient power transformers. Various incentive schemes and tax credits offered by certain governments for various industries to drive them towards capital purchases in the form of energy-efficient equipment are expected to give a boost to demand for power transformers in the long run.

As stated by the new market research report on Power Transformers, Asia-Pacific emerged as the largest and the fastest growing regional market worldwide with a CAGR of 6.9% over the analysis period. Robust economic growth, rapid industrialization, growing investments in the power generation and transmission sector, development of new urban settlements and townships, increasing rural electrification projects, and expanding real-estate activity in existing urban centers represent key growth drivers in the region.

Key players covered in the report include Alstom, Asea Brown Boveri (ABB), Bharat Heavy Electricals Limited (BHEL), Changzhou XD Transformer Co., Ltd., Crompton Greaves Ltd., DAIHEN Corporation, Diamond Power Infrastructure Limited, EFACEC Group, EMCO Ltd., General Electric Company, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries Co., Ltd., Kirloskar Electric Company Limited, Schneider Electric SA, Siemens AG, Shihlin Electric & Engineering Corporation, SPX Transformer Solutions Inc., and Tebian Electric Apparatus Stock Co., Ltd., among others.

The research report titled “Power Transformers: A Global Strategic Business Report” announced by Global Industry Analysts Inc. provides a comprehensive review of the power transformers market, key market trends, current issues and concerns, growth drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for the global and major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America, and Rest of World.