Power and distribution transformer market to reach $51 billion by 2019
Ireland, Dublin: Research and Markets has announced the addition of the Global Power and Distribution Transformers Market Forecast and Opportunities, 2019 report to their offering.
According to the report, the global market for power and distribution transformers is expected to reach $51 billion by 2019, reports Business Wire.
Increasing demand for power will drive new power projects along with transmission and distribution network expansion. This, in turn will drive power and distribution transformer installations worldwide, mainly in China and India.
Transformer installations in Asia-Pacific, South America and Middle East and Africa are increasing at a comparable rate due to growing electrification in developing nations like China, India and Brazil.
Global leading companies engaged in manufacturing power and distribution transformers include ABB Ltd., Alstom Grid SAS, Siemens AG, etc.
Source: Business Wire