Asia-Pacific Power Transformer Market by Country & Key players: General Electric Company, Siemens AG, Schneider Electric SA, Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, & Toshiba Corporation

Asia-Pacific Power Transformer Market Overview:
Asia-Pacific Power Transformer Market was valued at $5,210 million in 2016, and is projected to reach $8,990 million by 2023, registering a CAGR of 8.1% from 2017 to 2023. Power transformers is one of the basic components involved in power transmission system for insulation, reduction of electricity losses, and heat dispersion. Asia-Pacific is estimated to significantly contribute to the growth of the power transformer market. The Asia-Pacific power transformer market is expected to grow at a steady and significant pace, owing to increase in demand for electricity especially in densely populated countries such as India and China, enhancement of grid infrastructure, and increasing investments for installation of renewable energy-based power projects.

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Upsurge in demand for electricity, need for upgrade of transmission networks, demand for smart grids, and increase in share of electricity generated from renewable and non-conventional energy resources drive the market. Along with these factors, the market is influenced by the strict government regulations to maintain product standards, high cost of power transformers, and technological barriers. The above-mentioned factors collectively create opportunities for the market growth, while factors such as high price of power transformers restrain the growth. However, each factor would have its definite impact on the market during the forecast period.

The Asia-Pacific power transformer market is segmented based on country such as China, Japan, India, South Korea, Australia, Indonesia, Vietnam, Malaysia, Myanmar, Hong Kong, Macau, Thailand, and rest of Asia-Pacific.

China dominates Asia-Pacific power transformer market and is expected to maintain its dominance throughout the forecast period. This is attributed to the high demand for power transformer in the power transmission sector in this region. China holds the largest power generation capacity, followed by the U.S., thus making it a lucrative region for market players to expand their market foothold; thereby, driving the growth for the power transformer market in China.

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Top Investment Pockets

Australia is projected to be the most attractive power transformer market during the forecast period owing to the increased electricity demand from Western and Northern Australia. The electricity demand in the mentioned regions of the country grew by 8% and 5% respectively in 2013-2014, and the industry experts predicts the trend to be similar in coming five years.

Power transformer in Australia is projected to be driven by the continuous development in off-grid generation, particularly to support the mining sector. Constant rise in the energy needs has triggered 133 power generation projects by the Australian Government since 2015 till 2020.
Experts also project that in the coming ten years, Australia is expected to witness the exhaustion of numerous fossil fuel power stations, thereby forcing the country to look for different energy supply mix.

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India Review

India offers lucrative opportunities for new entrants in the power transformer market. This is attributed to the increase in demand for electricity, growth in GDP of the country, and improvement & enhancement in the grid infrastructure of the country to increase the rate of electrification. This ultimately leads to increase in the demand for power transformer in the sectors. In addition, rapid urbanization and industrialization in the country has boosted the demand for electricity consumption, contributing largely to the growth of power transformer. Therefore, growth in expansion of electricity networks propels the upgrade and installation of transformers, which in turn drives the growth of the Indian power transformer market.

The key players profiled in the report include ASEA Brown Boveri Group, Crompton Greaves Ltd., General Electric Company, Siemens AG, Schneider Electric SA, Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, Tebian Electric Apparatus, Bharat Heavy Electricals Limited, and Toshiba Corporation. The other key players in the value chain (not profiled in this report) include Alstrom SA, China XD Electric, Kirloskar Electric Company, Bharat Bijlee, Voltamp Transformers.

Key Benefits for Stakeholders

The report provides an in-depth analysis of the current trends, drivers, and dynamics of the Asia-Pacific power transformer market to elucidate the prevailing opportunities and tap the investment pockets.
It offers qualitative trends and quantitative analysis of the Asia-Pacific market from 2016 to 2023 to assist stakeholders to understand the market scenario.
In-depth analysis of the key segments demonstrates the market potential of the power transformer industry.
Competitive intelligence of the industry highlights the business practices followed by key players across the region and prevailing market opportunities.
Key market players and their strategies & developments are profiled to understand the competitive outlook of the market.

Asia-pacific Power Transformer Market Key Segments:
By Country
China
Japan
India
South Korea
Australia
Indonesia
Vietnam
Malaysia
Myanmar
Hong Kong
Macau
Thailand
Rest of Asia-Pacific

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