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Future Growth of Transformer Market by New Developments And Top Companies Kirloskar, Daihen, BHEL, GE, ABB, Schneider, Siemens, Toshiba

03-19-2020 05:12 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights, Inc.

/ PR Agency: Global Market Insights, Inc.
Transformer Market

Transformer Market

The size of Transformer Market was registered at 60 Billion (USD) in the year 2019 and is anticipated to cross 90 Billion (USD) by 2026. Between the period 2020 to 2026, the Transformer Market is expected to register a CAGR of 6.3%.

The power transformer market was exceeded USD 25 Billion in 2019 and is set to grow on account of increasing peak load energy consumption and coherent reforms favoring the integration of long route electric infrastructure. Moreover, the electricity for all programs in conjunction to utility inclination towards energy efficiency will augment the industry growth. Furthermore, efforts to establish a balanced supply & consumption phenomenon through effective management systems will boost both capacity & technological enhancements.

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Ongoing industrialization and large-scale suburban migration across emerging economies have considerably uplifted electricity consumption which in turn will fuel the demand for effective electrical components. Technological upliftment, minimal losses, operational flexibility, sustainable network integration along with strict energy efficiency reforms will augment the business scenario. Moreover, rise in competence across the industrial peripheral supported by key players tapping potential across niche markets will establish a favorable business platform.

Transformer Market by Growth Drivers Like:
o North America
o Refurbishment demand for existing grid infrastructure
o Rising infrastructural spending
o Europe
o Growing deployment of renewable energy
o Upgradation of existing grid network
o Asia Pacific
o Large-scale renewable integration
o Increasing demand for electricity
o Middle East Africa & Latin America
o Increasing demand for electricity
o Growing investment toward expansion of electricity networks

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Dry type transformer market is expected to witness a growth of over 7% by 2026. Effective resistivity to electrical surges & short circuits coupled with environmental sustainability have paved favorable grounds for technological adoption. Although, high system costs adhered by lower overall efficiency when compared to auxiliary counterparts have restrained product adoption. However, environmental compatibility, effective fire prevention, efficient performance across extreme climatic zones supported by stringent energy efficiency protocol are few indispensable parameters defining technological prevalence.

Transformer Market Key Players:
o Voltamp
o SPX
o Celme
o Ormazabal
o Hyosung
o Kirloskar
o Daihen
o BHEL
o GE
o ABB
o Schneider
o Siemens
o Toshiba
o Mitsubishi
o Crompton Greaves
o Eaton
o Hyundai

The India transformer market is expected to witness an annual deployment of over 150 '000 units by 2026. The national electricity industry has gained impetus subjected to consistent and sustainable policies including the Integrated Energy Policy (IEP), rural electrification reforms, IPDS and similar initiatives. Government infused FDI schemes along with the "Make in India" program has led to a significant flow of funds from various international agencies and industry participants. Leading players have aligned focus to attain market penetration through joint ventures, technological collaborations and regional expansion which in turn has positively influenced the overall industry landscape.

Report Content
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market definitions
1.3 Market estimates and forecast parameters
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Global transformer market 3600 synopsis, 2015 - 2026
2.1.1 Business trends
2.1.2 Core trends
2.1.3 Product trends
2.1.4 Winding trends
2.1.5 Installation trends
2.1.6 Cooling trends
2.1.7 Insulation trends
2.1.8 Phase trends
2.1.9 Rating trends
2.1.10 Mounting trends
2.1.11 Application trends
2.1.12 Regional trends

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

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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