A new report on the global converter transformer market has been made available by Market Research Store.
According to the report, the high demand for efficient power transmission solutions, need for integration of smart grid technologies along with the increasing government infrastructure are the key factors driving the growth of the global converter transformer market, reports All About News.
However, capital-intensive nature of manufacturing processes and the lack of product standardization mechanism are the major factors hampering the growth of the market.
Rapidly increasing the power generation by offshore wind farms and growing environmental concerns towards high power transmission features are the factors that will offer ample growth opportunities to the world converter transformer market.
Key market players profiled in the report include ABB Ltd., General Electric, Siemens, and Crompton Greaves, and others.
Source: All About News