Power transformer market to reach $49.1 billion by 2021
Wise Guy Reports has added a new report titled “Electrical Transformer Market Demand, Growth, Opportunities and Analysis of Top Key Player Forecast to 2021” to its offering.
According to the report, the global market for transformers will grow from $31 billion in 2015 to $33.4 billion in 2016 at a year-on-year growth rate of 7.7 %, reports EIN News.
In addition, the market is expected to grow at a five-year CAGR of 8 % from 2016 to 20121, to reach $49.1 billion by the end of the forecast period.
The major companies profiled in the report include ABB Ltd. (Switzerland), Powell Industries Inc. (U.S.), Schneider Electric SE (France), Bharat Heavy Electricals Ltd. (India), Crompton Greaves Ltd. (India), Eaton Corp. (Ireland), Hyosung Corp. (South Korea), Mitsubishi Electric Corp.(Japan), GE Co. (U.S.) and OJSC Power Machines (Russia) among others.
Source: EIN News