Increase in demand for power, cross border power transmission, global initiative to utilize more renewable and non-conventional energy sources, smart grids, and global need to upgrade transmission networks boost the global power transformer market.
Utilization of UHV transmission technology in the developing economies such as China and India demonstrates increase in importance of power transformers. However, high transformer cost as well as cost of protection instruments and supporting infrastructure prevents optimal utilization of power transformers throughout the world.
Major players profiled in this study are ABB, Crompton Greaves, GE, Siemens, Schneider Electric, Hyundai Heavy Industries, Mitsubishi Electric Corporation, Tebian Electric Apparatus, Bharat Heavy Electricals and Toshiba.
Source: Market Reports Center