Transparency Market Research has added a new market research report to their offering, which investigates and analyses three-phase transformers market in the forecast period 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.
Moreover, increasing power demand from power and industrial sectors is fuelling the demand of investment in this globally. Higher efficiency and easy assembling is bolstering the demand of this market.
The major restraining factors are 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. These include introduction of magnetic material and implementation of thermodynamic principle.
Developing countries like India, China,South Africa, Brazil and Russia are expected to be lucrative market for three phase transformers. India is likely to be a major market for development of three phase transformer during the forecast period.
In the Middle East, countries like Kuwait are also expected to offer greater opportunities in the three phase transformer market during the forecast period.
The key players profiled in the report are Eaton Corporation, Powertronix, SNC Manufacturing, Mitsubishi, Delta Transformers, Hitachi, Areva, Siemens, Moloney Electric, and Estel Company, among others.
Source: Transparency Market Research