Global large power transformer market to grow at CAGR 6.5%

Research and Markets has announced the addition of the “Global Large Power Transformer Market – Analysis and Forecast – Growth Trends and Forecasts (2015-2020)” report to their offering.

The report estimates that the global large power transformers market will grow at a CAGR of 6.5% by 2021, reports

Rising energy needs and favourable government policies are driving the large power transformers market. However, high investment costs and volatility of raw material prices are hampering the market.

Increasing energy needs combined with technological advancement is a major driver in the Asia-Pacific region. Countries like China, Malaysia, and India offer immense opportunities for the overall market for large power transformers.

The market players mentioned in the report include ABB Ltd., Alstom SA, Crompton Greaves Ltd., GE Co, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries Co. Ltd., Siemens Energy, and SGB-SMIT International GmbH.

Source: Research and Markets