A new market study titled “Transformer Testing Equipment Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment; 2017 – 2027” has been published by Future Market Insights.
According to the report, transformer testing equipment market is expected to grow in the forecast period due to the growing demand for safe and continuous transmission of electricity from the power generation plants to the end users, and for this purpose, transformers are tested continuously in real time.
Increasing energy demands lead to the growth of generation of electrical energy from both non-renewable and renewable sources, which leads to higher installations of power transformers in the global market. This is a key factor that will accelerate the growth of transformer testing equipment market in the forecast period.
The countries of Asia Pacific excluding Japan such as India and China have registered higher demands for energy, which drives the growth of transformer testing equipment market in the region.
The main market participants identified across the value chain include SMC Int, Vanguard Instruments Company, Gyro Group, DV Power, Vasavi Electronics, Eltel Industries, KOLEKTOR ETRA d.o.o., Doble Engineering Company, Hubbell Incorporated, and Megger.
Source: Future Market Insights