A new market report titled “Three Phase Transformer Market – Global Industry Analysis, Growth, Trends and Forecasts 2015-2023” is available, reports Industry Today.
According to report, the market for three phase transformers is anticipated to grow at a substantial rate, owing to the need for cost effective solutions in the power industry.
Increasing power demand from industrial sector and the need for cost efficient instruments in power distribution sector are the primary drivers bolstering investment in three phase transformer market.
The increasing cost of standby units in three phase transformers and the inconvenience in maintenance are some of the major restraints impacting the growth of the market.
Developing economies such as India, China, Russia, South-Africa and Brazil are likely to be attractive market for three phase transformers.
Some of the major players investing in this market are Hitachi Corporation, Mitsubishi Corporation, Siemens AG, Areva SA, Moloney Electric Inc., Delta Transformers Pvt. Ltd., SNC Manufacturing Co, Inc., Eaton Corporation Plc., Powertronix Corporation, and Estel Company Limited.
Source: Industry Today