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The power transformer market is projected to grow at a CAGR of 7.6% during the forecast period. T&D investment would approximately account for 40% of the total power infrastructure spending. Investments in renewable energy sources has increased from USD 60 Billion in 2000 to USD 300 Billion in 2011. However, for many emerging economies, keeping up with the increasing electricity demand is a huge investment challenge, and current investment trends provide some warning signs for the adequacy of power supply.
The report covers major market players such as ABB (Switzerland), Siemens (Germany) Cheap Mark Andrews Jersey , Crompton Greaves (India), and General Electric (U.S.) among others. These companies together occupy about half of the power transformer market.
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Although the market size of the medium power transformer segment is large, yet the growth of the large power transformer segment is higher. This is due to the increase in HVDC transmission projects mainly in the Asia-Pacific region. HVDC, EHV, and UHV projects being undertaken for reducing transmission losses during transmission over large distances is the major growth driver of the large power transformer market.
Oil-Cled power transformers dominate the power transformers market
The oil-cled power transformer segment occupies a larger market size Cheap Hayden Hurst Jersey , as it is considered a safer option while handling high voltages. And, with increasing number of high voltage transmission projects being undertaken, the demand for oil-cled power transformers is expected to be higher than air-cled power transformers.
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The power transformer market is driven by increasing global energy consumption; to fulfill this, new T&D lines are being installed. Moreover, investments being made by governments in electrical infrastructure projects have also gone up Cheap Trace McSorley Jersey , further aiding in the growth of the power transformer market. Asia-Pacific is the largest market for power transformers, and its demand in the region is mainly driven by extensive T&D network expansion projects in developing countries such as India and China.
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