Power
transformers connect electrical networks or systems of different
voltages to allow power exchange between them. Power transformers are
used for power generation, power transmission, electro-intensive
industrial applications, and consumer applications. The demand for
power transformers is expected to continually grow due to increasing
electrification in emerging as well as developed economies.
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Favorable
government regulations for production of green energy are also
expected to fuel the growth of the large power transformers market
over the forecast period. Global environmental concerns highlight the
need for lower emissions and water conservation in both existing and
new power plants. As a result, leading companies such as Alstom have
developed and introduced green transformers for environmentally
delicate zones. Similarly, Crompton Greaves Ltd. designed, produced,
and installed extremely low noise power transformers for
environmentally critical regions.
Asia
Pacific occupied the largest market share in 2013, which can be
attributed to growing energy demands coupled with technological
advancements in this region. Rest of the World economies such as the
Middle East is expected to steadily expand their power
infrastructures, attracting intense competition from global as well
as regional market players.
Large
power transformers between the power ratings of 100 MVA and 500 MVA
are expected to exhibit the fastest growth till 2020, in terms of
revenue from 2014 to 2020. This growth is attributed to the fact that
100 MVA and 500 MVA rating transformers are the most widely used by
utilities around the globe. Further, large power transformers between
the power ratings of 801 MVA and 1200 MVA are expected to be used for
HVDC and UHVDC power generation in the Asia Pacific and Middle East
regions on account of rising energy demands in these regions in the
near future.
The
global large power transformers market has been segmented by power
rating into 100 MVA to 500 MVA power transformers, 501 MVA to 800 MVA
power transformers, and 801 MVA to 1200 MVA power transformers. The
key industry participants include ABB Ltd., Alstom SA, Crompton
Greaves Ltd., Siemens AG, GE Co, Hyosung Power & Industrial
Systems Performance Group, Hyundai Heavy Industries Ltd. and TBEA Co.
Ltd. among others.
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