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Power Transformer Market Trends, Industry Analysis - 2024 by top players Eaton, ABB, GE, Schneider Electric, Siemens, Mitsubishi Electric Power Products, Inc., Toshiba corporation, Kirloskar Electric Co. Ltd.

01-22-2019 07:33 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Power Transformer Market

Power Transformer Market

Ongoing expansion of utility aided transmission & distribution networks to sustain the growing energy demand across the globe will drive the power transformer market. Rising investments to refurbish the existing grid infrastructure across developed regions further proliferate the product penetration. In addition, increasing demand for rural electrification coupled with favorable regulatory framework across emerging electricity market will further complement the business outlook. Power transformer market size will exceed USD 35 billion by 2024.

Stringent energy efficiency compliance coupled with advancing smart transformer technologies will substantially augment the power transformer market growth. Ongoing auxiliary capacity addition across the globe with an aim to integrate a sustainable energy mix will boost the product penetration. Perpetual electrification programs subject to large scale renewable addition along with rapid expansion of utility based high tension electricity networks will further complement the industry outlook.

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The U.S. power transformer market will grow owing to ongoing investments toward refurbishment of existing electricity infrastructure. Expeditious expansion of infrastructure projects under the peninsula electrification program will fuel the product demand. In 2017, regulators across the U.S. proposed a funding worth USD 100 million to strengthen electricity infrastructure across the rail networks in California.

China power transformer market is set to surpass 2,500 annual installation by 2024. Favorable government reforms subject to the establishment of a sustainable electricity infrastructure will positively influence the business growth. Rapid industrial expansion across the nation to cater volume manufacturing practices by industry participants will positively stimulate the product demand.

> 800 MVA power transformer market on account of rapid industrial expansion across developing markets has witnessed a significant turnaround in the recent years. The product subject to ongoing expansion of utility aided grid networks to cater the exponentially rising energy demand will witness appreciable escalation over the forecast timeframe. Government initiatives to establish a sustainable grid network across developed regions will further stimulate the product penetration.

Global shift towards energy conservation along with growing measures to provide safe and reliable electricity will foster the power transformer market. Energy efficiency measures coupled with briskly expanding smart-grid networks will further accelerate the product penetration. In 2017, in compliance to the smart grid agreement, Sweden, France, Germany, Italy, and UK proposed investments worth USD 133.7 billion with an aim to sustain the rapid smart grid adoption across the region.

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Middle East & Africa power transformer market is set to witness sheer progression in line with ongoing deployment of decentralized generation units coupled with rapid expansion of micro-grid networks. Escalating infrastructural investments from institutions including the International Finance Corporation, and African Development Bank (ADB), across the region will positively impact the business landscape. In 2017, ADB declared investments over USD 12 billion to sustain the soaring electricity demand across Africa.

Eminent participants in the power transformer market include
• Eaton
• ABB
• GE
• Schneider Electric
• Siemens
• CG Power and Industrial Solutions Limited (Formerly Crompton Greaves Limited)
• Mitsubishi Electric Power Products, Inc.
• Toshiba Corporation
• Bharat Heavy Electricals Limited
• Kirloskar Electric Co. Ltd.
• SPX Transformer Solutions, Inc.

Power Transformer Market By Core, By Winding, By Installation, Competitive Market Share & Forecast, 2017 – 2024 in detail along with the table of contents@ https://www.gminsights.com/industry-analysis/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.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Blog: allnewsmyway.com/

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