Future Market Insights recently published a report titled “Medium Voltage Transformers Market: Global Industry Analysis (2012 –2016) and Opportunity Assessment (2017 – 2027)”.
According to the report, the global medium voltage transformers market is expected to grow at a CAGR of 4.5% over the forecast period (2017–2027), and reach $14.8 billion by the end of 2027.
Growing industrialisation coupled with increasing demand from the construction sector across the globe is estimated to drive the growth of the global medium voltage transformers market over the forecast period.
1,200 kVA segment is anticipated to grow at a CAGR of 5.2% by the end of 2027.
Oil-immersed type medium voltage transformers market is estimated to expand at a CAGR of 4.7% during the forecast period.
Three-phase transformers are likely to replace single-phase transformers owing to less power losses in three-phased equipment.
APEJ accounts for more than 50% of the market share in terms of value in the global market. Also, the presence of foreign players in the South East Asia market has enabled the supply of medium voltage transformers through many distributors and hence, distributor sales is estimated to expand with a healthy CAGR over the forecast period.
Some of the key market players mentioned in the report are ABB Group, Kirloskar Electric Company, Siemens AG, MGM Transformer Company Co., General Electric Company, Amran Inc., Hitachi, Ltd., Tianan Electric Group Co., Ltd., Fuji Electric Co. Ltd., RITZ Instrument Transformers GmbH, Schneider Electric SE, RECO Transformer Pvt. Ltd., Eaton Corporation PLC, Mitsubishi Electric Corporation, Jinpan International USA Ltd., Končar Distribution and Special Transformers, Inc., CG Power & Industrial Solutions Ltd., Fortune Electric Co., Ltd., Schaffner Holding AG, and Hammond Power Solutions Inc.
Source: Find Market Research