25 November 2019 - Power Transformer Market comprised
of over 11,300 units and is estimated to grow at a CAGR of 5.9% over the
forecast period. Market is valued at $ 18 million as of 2013. Increase in the
demand for electricity in the rapidly developing nations along with those who
are already developed coupled with increase in the amount of investments in
infrastructure is expected to drive the market over the next few years. Smart
meters which are the result of high demand and supportive initiatives are
anticipated to positively impact the market. Government obligations to install
advanced power transformers and to modernise existing grids to minimize the
losses and enhance efficiency will also positively impact the power transformer
market globally.
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Transformers with advanced features and having eco-friendly
qualities are expected to replace the traditional transformers which are not
compatible with current environmental and technical requirements. Cross-border
electricity trade is being increased by the nations which are developed at the
same time integrating wind and other renewable energies which push the existing
networks to their limits. These conditions lead to frequent short-circuits
which can also be considered as one of the major factor responsible for power
transformer installation.
Increasing awareness about reduction in the
pollutants-emission and protection of environment is driving the development of
smart grid and super grid. Furthermore, replacement of Polychlorinated
Biphenyls (PCB), service expansion in resource-based industries and growth in
green initiative awareness is expected to fuel the market over next few years.
Product Insights
Major product segments include 100 MVA to 500 MVA, 501 MVA
to 800 MVA and 801 MVA to 1200 MVA. The products from the range 100 MVA to 500
MVA are expected to dominate the market due to its uneven usage in transmission
and distribution network for step-up and step-down applications.
HVDC and UHVDC power generation make use of 801 MVA to 1200
MVA which is expected to witness growth due to increasing demand from regions
such as Middle East and Asia-Pacific
Regional Insights
40% of the total revenue generated from power transformers
was from the region of Asia-Pacific in the year 2103 and is forecasted to
acquire significant gains over the next five years due to the rapid economic
developments and need of nations for uninterrupted power supply.
Due to increasing modernization and industrialization, North
American region will be the emerging market over the next few years. Numerous
environmental protection initiatives undertaken by the European nations to
implement green transformers will drive the market over the forecast period.
Market Segment:
Power transformer
Product Outlook (Volume, Unit Shipments and Revenue, USD Billion; 2012 - 2020)
• 100 MVA to
500 MVA
• 501 MVA to
800 MVA
• 800 MVA to
1200 MVA
Power transformer
Regional Outlook (Volume, Unit Shipment and Revenue, USD Billion; 2012 - 2020)
• North
America
• Europe
• Asia Pacific
• RoW
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Major players such as Alstom SA, Siemens AG, ABB Ltd.,
Crompton Greaves Ltd., Toshiba Corp and GE Co., dominate the power transformer
market. Improvement in the production capacities and increase in the product
life are few strategies that are being adopted by these players to maintain
their significant share. HVDC, shunt reactors, light and phase shifting
variants are provided by various firms to enrich their product portfolio.
Transformers with low noise operation and online monitoring
have been developed by Alstom for environmentally critical zones.
Autotransformer, substation and auxiliary, general setup are included in GE
portfolio. In order to provide smart grid solutions, Crompton Greaves completed
a contract with Saudi Electricity Company (SEC) worth $ 3.6 million.
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