Witness the Excellent Long-Term Growth Outlook of Power Transformer Market

Global energy production has increased over the past decade, from 15,409.0 TWH in 2000 to 23,536.5 TWH in 2014. This has also led to the increasing need for expanding T&D networks globally; new T&D infrastructure needs USD 1.9 Trillion in cumulative investment by 2024 to meet the growing energy demands. This includes substations, power lines, and associated equipment and new technology. Governments worldwide are investing in T&D network expansion projects, increasing the demand for power transformers. The power transformer market is projected to reach USD 29.9 Billion by 2020, from USD 20.7 Billion in 2015, at a CAGR of 7.6% during the forecast period.

The report covers major market players such as ABB (Switzerland), Siemens (Germany), Crompton Greaves (India), and General Electric (U.S.) among others. These companies together occupy about half of the power transformer market.

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Scope of the report

On the basis of rating

• Small Power Transformer (Up to 60MVA)
• Medium Power Transformer (61 - 600MVA)
• Large Power Transformer (Above 600MVA)

On the basis of type of cooling method

• Oil-Cooled
• Air-Cooled

On the basis of Region

• North America
• South America
• Asia-Pacific
• Middle East
• Europe
• Africa

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The demand for power transformers is increasing globally because of numerous T&D expansion projects and grid interconnection projects between countries. Siemens AG (Germany) is constructing a USD 450m high-voltage direct current transmission link between Ethiopia and Kenya. The Ethiopia-Kenya Power Systems Interconnection Project will be roughly 1,000 kilometers long and will transmit hydroelectricity. Five South American countries (Chile, Peru, Colombia, Ecuador, and Bolivia) are seeking to interconnect their energy systems in search of better regional integration.

For Europe to reach its targets for 2020 and 2030, a massive expansion of the power grid is required. All over Europe, there is a significant need for improved and integrated transmission lines, carrying more power. In addition, transition into renewables requires new lines and a restructuring of the grid, to transfer electricity from the place of production to usage. In order to fully optimize the potential of renewables, a better integration of energy markets is also required to exchange electricity across borders. However, reluctance of governments worldwide in taking up capital incentive projects can hamper the power transformer market.

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Asia-Pacific: the largest market for power transformers

The power transformer market is driven by increasing global energy consumption; to fulfill this, new T&D lines are being installed. Moreover, investments being made by governments in electrical infrastructure projects have also gone up, further aiding in the growth of the power transformer market. Asia-Pacific is the largest market for power transformers, and its demand in the region is mainly driven by extensive T&D network expansion projects in developing countries such as India and China.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues