USA, Texas: According to Global Power Transformer Market 2015-2019, a new industry research report available at ReportsnReports.com, global power transformer market is to grow at a CAGR of 6.34% over the period 2014-2019.
The report says decreasing prices of raw materials is one of the key trends witnessed in the market, reports Virtual Strategy.
Dipping prices of raw materials are expected to lead to reduced manufacturing costs, which will ease the burden on end-users such as the utilities, industrial, and commercial sectors.
According to the report, one of the major drivers of the power transformer market is the replacement of aging transformers with new ones. Replacing these aging transformers will also ensure efficient electricity networks.
The key companies covered by the report include ABB Ltd., Alstom SA, GE Co. and Siemens AG.
Source: Virtual Strategy