According
to a new research report published by Transparency Market Research
(TMR), titled “Large Power Transformers Market - Global power
Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 -
2020”, the global large transformers market was valued at US$18.35
billion in 2013. TMR states that the market will expand at a CAGR of
7.8% from 2014 to 2020 to reach US$31.05 billion by 2020. By volume,
the demand for large power transformers will reach 18,709 units by
2020, increasing from 11,223 units in 2013 at a 7.7% CAGR from 2014
to 2020.The report states that easy availability of technologically
improved products and increasing use of electricity in agriculture,
industrial production, and domestic use is primarily driving the
large power transformers market.
Browse
the full Large Power Transformers Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2014 - 2020 report at
http://www.transparencymarketresearch.com/power-transformer-market.html
In
the coming years, environment-friendly large power transformers will
observe substantial growth due to their environmental viability and
advanced related features, according to TMR analysts. Global
environmental considerations take into account the need for low
emissions and water conservation for both new and existing power
plants. To cater to such needs, leading companies such as Alstom have
launched green transformers for environmentally sensitive areas.
Likewise, Crompton Greaves Ltd. has developed and installed quiet
power transformers for usage in wildlife reserves and other
environmentally sensitive regions, to reduce noise pollution.
Moreover,
in matured economies, state-run initiatives for upgrade of outdated
power grids with advanced equipment are contributing significantly to
the demand for large power transformers.However, factors such as
volatility of raw material prices are some of the economic restraints
that the market is challenged by.By power rating, 100 MVA to 500MVA
large power transformers are expected to account for the largest
market share for the forecast period owing to widespread use of the
same by utility companies worldwide.Large power transformers with
power ratings in the range of 801MVA to 1200 MVA will be used for
UHVDC and HVDC power generation in Asia Pacific and the Middle East.
This is attributed to the rising energy needs of developing economies
in these regions in the years to come.
Browse
Press Release of Large Power Transformers Market:
In
2013, Asia Pacific registered the largest share in the global large
power transformers market due to increasing energy needs combined
with technological advancement in the region. Developing economies
such as China, Malaysia, and India offer immense opportunities for
the overall market for large power transformers. India and China are
anticipated to have consistent demand for large power transformers
owing to the rising electrification ratio in these countries.The Rest
of the World (RoW) region, led by economies in the Middle East, are
expecting stable expansion of their power infrastructures, thus
attracting stiff competition from regional as well as global market
participants.The key players operating in the global large power
transformers market are ABB Ltd., Crompton Greaves Ltd., GE Co,
Hyundai Heavy Industries Ltd., Alstom SA, Siemens AG, and TBEA Co.
Ltd.
The
market has been segmented as follows:
Large
Power Transformers Market, by Power Ratings
100
MVA to 500 MVA
501
MVA to 800 MVA
801
MVA to 1200 MVA
Large
Power Transformers Market, by Geography:
North
America
Europe
Asia
Pacific
Rest
of the World (RoW)
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a Sample of this Report :
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Us
Transparency
Market Research (TMR) is a global market intelligence company,
providing global business information reports and services. Our
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Transparency Market Research employs rigorous primary and secondary
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