USA, New York: Transparency Market Research (TMR) has announced the release of its latest report “Power Transformers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”.
According to the report, the global power transformers market is anticipated to grow at a CAGR of 7.7% from 2013 to 2019. Volume-wise, the power transformers market is projected to grow to 17,283 units by 2019.
100 MVA to 500 MVA power transformers dominated the market in 2012, accounting for 68.2% of the revenue share. Geographically, Asia-Pacific recorded the highest growth of the power transformers market at an 8.2% CAGR during the forecast period.
The power transformers market is principally driven by the escalating demand for energy from all parts of the world, but it is likely to be hit by volatile prices of raw materials, a TMR analyst states.
Source: Transparency Market Research