New report analyses MV transformers market, 2015-2025
Future Market Insights has published a new analysis and assessment report on the global medium voltage transformers market, titled “Medium Voltage Transformers Market: Global Industry Analysis and Opportunity Assessment 2015-2025”.
According to the report, the global medium voltage transformers market is expected to expand at a promising CAGR during the forecast period.
One of the key factors driving the growth of the global medium voltage transformers market is rising urbanization in developing countries which leads to an increase in the demand for power generation and transmission, transmission expansion to integrate renewable energy resources, and new capacity addition in both generation and transmission.
Price fluctuation of raw material, maintenance and aging costs, compliance with specifications, quality and testing are a few factors limiting the growth of the global medium voltage transformers market.
Asia Pacific, Middle East and Africa are the regions with immense market potential since the power generation and distribution infrastructure is still in its nascent stage in these regions.
As of 2015, North America dominated the global medium voltage transformers market in terms of market revenue. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global medium voltage transformers market value exhibiting a robust CAGR during the forecast period.
Some of the key market participants mentioned in the report include ABB, Schneider Electric, Siemens, Crompton Greaves Ltd, Eaton Corporation, Emerson Industrial Automation, Mitsubishi Electric, Hammond Power Solutions, Kirloskar Electric, SMA America LLC.
Source: Future Market Insights