United Kingdom, London: A new global power transformer market report titled “Power Transformer Market by Rating, Medium Power Transformer, Large Power Transformer, by Type of Cooling Method, & Region - Global Trends & Forecasts to 2020” is now available.
According to the report analysts, the global power transformer market is projected to reach $29.9 billion by 2020, from an estimated $20.71 billion in 2015, at a CAGR of 7.6% from 2015 to 2020, reports PR Newswire.
Growing energy demand coupled with increasing T&D network expansion projects is driving the power transformer market.
Regions such as Asia-Pacific and the Middle-East have emerged as attractive prospects for power transformer manufacturers because of the numerous T&D expansion projects being carried out in both regions.
Large power transformer segment is projected to grow at the highest CAGR during the forecast period.
The key power transformer manufacturers and providers profiled in the report include ABB Ltd. (Switzerland), CG (India), GE (U.S.), Toshiba (Japan), Siemens (Germany), Hyundai (South Korea), Mitsubishi Electric Corporation (Japan), Hyosung Power & Industrial Systems (South Korea), B.H.E.L (India), and SPX Transformers (U.S.).
Source: PR Newswire