(EnergyIndustry.Net, August 13, 2018 ) Power Transformer Market is set to exceed USD 35 billion by 2024. Ongoing expansion of existing utility aided T&D networks to sustain the rising demand of energy across the globe will stimulate the power transformer market. Growing investments for the refurbishment of ageing grid infrastructure across developed economies will further proliferate the product demand. In addition, rising demand for rural electrification along with favorable government reforms across the emerging electricity market will further foster the industry landscape.
China power transformer market is projected to exceed 2,500 annual installation by 2024. Favorable regulatory framework pertaining to the establishment of a sustainable energy infrastructure will drive the business outlook. Rapid industrial expansion to cater the volume manufacturing practices through industry participants across the nation will positively influence the product penetration.
Strict energy efficiency compliance along with the evolving smart transformer technologies will propel the power transformer market share. Ongoing auxiliary capacity addition with an objective to integrate a sustainable energy mix across the globe will boost the product demand. Perpetual electrification programs relating to large scale renewable addition coupled with rapid expansion of high tension utility based electricity networks will further drive the industry landscape.
> 800 MVA power transformer market will witness substantiate growth owing to the rapid expansion across industrial sectors in the developing markets. Ongoing expansion programs of high voltage utility aided grid networks to cater the growing demand for electricity across industries inclination will further complement the business landscape. Government initiatives towards establishment of sustainable grid infrastructure across developed nations will stimulate the product demand.
Global shift towards energy conservation coupled with growing measures to provide reliable and safe electricity will augment the power transformer market. Briskly expanding smart-grid networks along with energy efficiency measures will further stimulate the product demand. In 2017, France, Sweden, Italy, UK, and Germany proposed investments worth USD 133.7 billion, in compliance to the smart grid agreement, with an aim to sustain the rapidly increasing adoption smart grid networks across the region.
Ongoing investments toward replacement and upgradation of existing electricity infrastructure will drive the U.S. power transformer market. Under the peninsula electrification program, expeditious expansion of infrastructure projects will foster the product penetration. In 2017, regulators across the country proposed funding of around USD 100 million to enhance the electricity infrastructure across rail networks in California.
Middle East & Africa power transformer market is projected to witness sheer growth in line with continuous deployment of decentralized generation units along with the briskly expanding micro-grid infrastructure. Rising infrastructural investments from institutions including African Development Bank (ADB) and the International Finance Corporation, across the region will positively influence the business outlook. In 2017, African Development Bank announced to invest over USD 12 billion to cater the escalating electricity demand across Africa.
Key participants in the power transformer market include ABB, Schneider Electric, GE, Siemens, Mitsubishi Electric, Hyosung, Crompton Greaves, Toshiba, Hyundai Electric, SPX Transformer, Celme, Daihen, Kirloskar, and BHEL.
Report Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Power transformer industry 3600 synopsis, 2013 – 2024