Power transformers market expected to grow considerably by 2020
The global power transformer market is expected to increase from 10.3 billion in 2013 to 19.7 billion in 2020, at a CAGR of 9.6% due to emerging countries’ extensive power plant capacity additions, economic growth and the need to improve access to electricity, forecasts the report at http://www.rnrmarketresearch.com/power-transformers-market-for-power-industry-2013-update-global-market-size-equipment-market-share-key-country-analysis-to-2020-market-report.html.
According to the report, the increase in electricity demand by China, India and the Middle East drives the global power transformer market’s growth. Between 2013 and 2020, global electricity consumption is expected to increase from 20 248 TWh to 25 415 TWh. Despite the global power transformer market being highly fragmented, seven leading companies accounted for more than 50% of its share in 2012. ABB led the market with a 12% share, followed by Tebian Electric Apparatus Stock Co. (TBEA) with 11%, Siemens with 10% and Alstom Grid with 7%.
Sowmyavadhana Srinivasan, a senior analyst covering power sector, commented: “The growth of global electricity demand is driving the construction of new power plants, as is the need to improve the connectivity of the electricity grid and ensure that demand is met.” The replacement and upgrade of old transformers in North America and Europe will also be a key market driver. “The UK grid is already old and blackouts in the country are expected, unless substantial replacement and upgrade works are undertaken. Similarly, in other European countries, such as Germany, continuous grid refurbishment activities are underway in power plants in order to achieve a stable grid,” says Srinivasan.
However, pricing pressures on power transformer companies, along with an increase in raw material costs and the global economic slowdown, could restrain the market in the foreseeable future.
Key countries analysed in the report Power Transformers Market for Power Industry, 2013 Update-Global Market Size, Equipment Market Share, Key Country Analysis to 2020 include US, China, India, UK, Saudi Arabia, Germany, Canada and Brazil.
The report provides an in-depth analysis of the power transformer market in the UK, the US, Canada, Germany, India, China, Saudi Arabia and Brazil. The report covers average price, volume (in terms of MVA) and market size for the period from 2007 to 2020 for power transformers. Only high-voltage levels are considered for calculations in the report. It discusses the market shares of leading players for power transformers in 2012 and the key drivers and restraints impacting the global power transformer market. You can order a copy of this report at http://www.rnrmarketresearch.com/contacts/purchase?rname=123354.
Comprehensive table of contents and more for this report is available at http://www.rnrmarketresearch.com/power-transformers-market-for-power-industry-2013-update-global-market-size-equipment-market-share-key-country-analysis-to-2020-market-report.html .