Lewes, DE -- (SBWire) -- 06/13/2017 --Report forecast the global power transformers market to grow at a CAGR of 7.16% during the period 2017-2021.
Power transformers are defined as static devices comprising two or more windings; they use electromagnetic induction to transform an alternating current or voltage system into a different system of current or voltage, which has been stepped up or stepped down for the transmission of electric power. Power generating utilities find it highly cost-effective to generate electric power at low voltage levels.
The report covers the present scenario and the growth prospects of the global power transformers market for 2017-2021. To calculate the market size, the report considers new sales and excludes retrofit/replacement/spares/ aftermarket/services market.
The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
According to the report, one driver in the market is modernization of existing transformers. Factors such as the increase in installation of new transformers and the replacement of old transformers with new ones are fueling the growth of the global power transformers market. Much of the T&D infrastructure globally needs renovation, mainly because the existing networks are unable to meet the growth in the demand for power.
Further, the report states that one challenge in the market is lack of effective product differentiation. The global power transformers market is made up of several local, regional, and international vendors that offer similar products at competitive prices. Therefore, vendors are trying to differentiate their products by providing transformers that minimize copper, core, hysteresis, and eddy current losses.
Global Power Transformers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the global power transformers market: ABB, CG, General Electric (GE), Schneider Electric, and Siemens.
Other Prominent Vendors in the market are: ALTRAFO, Celme, DuPont, Eaton, ELANTAS, Eremu, Fuji Electric, Hammond Power Solutions, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries, J. Schneider Elektrotechnik, Jinpan International, Kirloskar Electric, KOTSONS, Layer Electronics, LS Industrial Systems, Mace, MGM Transformer Company, Mitsubishi Electric, Ormazabal, Prima Transformers, Raychem RPG, Ruhstrat, SPX Transformer Solutions, Synergy Transformers, TBEA, Temco, Toshiba, Vijay Power Control Systems, Virginia Transformer, Voltamp Transformers, Xi'an XD Transformer, and YangZhou Power Electric.
Market driver
- Modernization of existing transformers
- For a full, detailed list, view our report
Market challenge
- Lack of effective product differentiation
- For a full, detailed list, view our report
Market trend
- Increasing popularity of dry-type transformers
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2021 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 70 pages "Global Power Transformers Market 2017 - 2021" report covers Executive summary, Scope of the report, Research Methodology, Introduction, Market landscape, Market segmentation by type of insulation, Geographical segmentation, Decision framework, Drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
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For related reports please visit: Power Transformer Market Research Reports
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