Grand View Research, Inc. published a new market study titled “Middle East Distribution Transformer Market Analysis By Product, By Technology And Segment Forecasts To 2022”.
According to the study, the Middle East distribution transformer market is expected to reach $3.59 billion by 2022, reports Hexa Reports.
Medium transformers market accounted for over 40% of the overall revenue share in 2014, and the segment is expected to witness significant growth over the next few years, while small transformers segment is estimated to witness growth owing to high demand for stepping voltages down within a distribution circuit of a building or to supply power to equipment.
Large transformers segment is anticipated to exhibit moderate growth over the next seven years on account of unmatched high efficiency and the ability to operate at low power frequencies.
Liquid filled technology segment accounted for more than 70% of the overall revenue in 2014, and is estimated to increase over the forecast period.
Saudi Arabia distribution transformers market emerged as the dominant regional segment.
Key players profiled in the report include ABB, Abaft Middle East, Alstom, General Electric, Siemens, Bawan and Alfanar Electrical Systems.
Source: Hexa Reports