Distribution transformer market to reach $17.6B by 2021
UK, London: A new report titled “ Distribution Transformer Market by Mounting, Insulation, Phase, Power, and Region – Global Forecast to 2021” has been made available by Report Buyer.
According to the report, he distribution transformer market is projected to reach $17.61 billion by 2021, at a CAGR of 6.57% during the forecast period.
The distribution capacity addition plans and growing renewable generation are acting as the major drivers of the distribution transformer market.
In terms of market, by phase, three-phase transformers held the largest market share in 2015.
Asia-Pacific is estimated to be the largest market for distribution transformers, followed by North America and Europe. China accounted for the largest share in the Asian distribution transformers market in 2015, and is projected to grow at the highest CAGR from 2016 to 2021.
The leading players in the industry profiled in the report include ABB Ltd. (Switzerland), Siemens AG (Germany), Crompton Greaves Limited (India), General Electric (U.S.), and Eaton Corporation Plc. (Ireland) among others.
Source: Report Buyer