Transparency Market Research has made available a new market research report titled “Three Phase Transformer Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024”.
According to the report, the three phase transformer market is primarily driven by the need of price effective solutions in the power industries, as well as increasing power demand from power and industrial sectors. Higher efficiency and easy assembling is bolstering the demand of this market, reports Open PR.
The major restraining factor in the market is a huge price of standby units. Moreover, the cost of spare parts for three phase transformers is higher compared to that of single phase transformers.
Technological innovations are likely to act as one of the major opportunities in the three phase transformers market.
Developing countries such as India, China, South-Africa, Brazil and Russia are expected to be a lucrative market for three phase transformers.
The key market players profiled in the report are Eaton Corporation Plc., Powertronix Corporation, SNC Manufacturing Co, Inc., Mitsubishi Corporation, Delta Transformers Pvt. Ltd., Hitachi Corporation, Areva SA, Siemens AG, Moloney Electric Inc. and Estel Company Limited, among others.
Source: Open PR