Power Transformer Market Statistics, Industry Growth Trends and Business Outlook by 2024
Category: #business  By Deepak Pardhi  Date: 2019-09-12
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Power Transformer Market Statistics, Industry Growth Trends and Business Outlook by 2024

Global Market Insights adds global Power Transformer Market report which focuses on the major drivers and restraints for the key players. It also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

Global power transformer market size has seen a substantial surge over the recent years, driven by the increase in global population, in turn resulting in extensive use of power supply. The economic development and enhanced industrialization worldwide, has built a high pressure on the transmission lines, due to rising electricity requirements. This has generated heavy demand to install more power transformers, boosting the global industry trends.

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Moreover, supportive government norms along with effective network facilities in developed countries will further catalyze the power transformer market revenue over the next few years. According to Global Market Insights Inc., “Global power transformer industry size worth USD 21.5 billion in 2014, is expected to grow at a rate of 5.9% over 2015-2022.”

Major power transformer products include small, medium, and large power transformers. Small power transformer market share, which accounted for over 68% of the overall revenue in 2014, is expected to witness a considerable growth over the coming years. The growth can be attributed to its low set up costs along with its rising application in healthcare as well as utility sectors.

Taking into account the regional outlook, Asia Pacific power transformer market is anticipated to register an annual growth rate of 6% over the period of 2016-2022. Infrastructural developments along with the increased government investments to increase the transmission & distribution capacity will drive the regional demands. Moreover, increasing demand from oil & gas industry across India will further boost the APAC market growth.

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China and India are likely to be the major revenue pockets of APAC. For instance, government programs in India such as Revised Accelerated Power Development and Reform Program (R-APDRP) and Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) are focusing towards ensuring a consistent and uninterrupted power supply.

Over the coming years, transformers with higher efficiency, lower carbon emissions, and reduced energy consumption will be the top focus areas of the manufacturers. Key power transformer market participants include Alstom, GE, Crompton Greaves, ABB Limited, Siemens Energy, and Toshiba Corporation.

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North America power transformer industry revenue, led by US, is expected to reach USD 8.54 billion by 2022. The growth can be credited to rapid economic growth coupled with the rising demand for electricity. Furthermore, high investments in grid expansions along with enhanced infrastructure developments will further stimulate the regional demand.

Over the coming years, transformers with higher efficiency, lower carbon emissions, and reduced energy consumption will be the top focus areas of the manufacturers. Key power transformer market participants include Alstom, GE, Crompton Greaves, ABB Limited, Siemens Energy, and Toshiba Corporation

Partial Table of Contents (ToC) of the report:

Chapter 4. Power Transformer Market, By Core

4.1. Power transformer market share by core, 2016 & 2024

4.2. Closed

4.2.1.   Market estimates and forecast, 2013 – 2024

4.3. Shell

4.3.1.   Market estimates and forecast, 2013 – 2024

4.4. Berry

4.4.1.   Market estimates and forecast, 2013 – 2024

Chapter 5. Power Transformer Market, By Winding

5.1. Power transformer market share by winding, 2016 & 2024

5.2. Two winding

5.2.1.  Market estimates and forecast, 2013 – 2024

5.3. Auto-power transformer

5.3.1.  Market estimates and forecast, 2013 – 2024

Browse complete table of content of this report https://www.gminsights.com/toc/detail/power-transformer-market-report

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Deepak Pardhi    

Deepak Pardhi

Deepak Pardhi carries a brief yet notable experience in the digital marketing domain having worked on several projects across a range of niche verticals. Deepak is endorsed with a B.Tech degree in electrical & electronics engineering.

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