USA: Micro Market Monitor has published a new report on the Europe power transformer market called “The Europe Power Transformer Market by Primary Voltage kV, End User, Geography - Forecast to 2020”.
According to the report, the Europe power transformers market is estimated to grow from $2.34 billion in 2015 to $2.78 billion by 2020 at a CAGR of 3.6% from 2015 to 2020, reports WhaTech.
The European economies such as Germany and Italy, whose installed capacity is higher than other parts of Europe, have a larger share in power transformer market. Thus, replacement of old electric power equipment in mature economies of Europe and a boost for high voltage power transformers drive the power transformer market in Europe.
Key players in the Europe power transformers market include ABB followed by Siemens AG, Alstom, Crompton Greaves and General Electric.