USA, New York: Power Transformers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019 has been announced.
Power transformers market is expected to reach $ 28.69 billion in value by 2019, growing at a CAGR of 7.7 % from 2013 to 2019. The demand for power transformers is expected to reach 17,283 units by 2019, growing at a CAGR of 7.5 % from 2013 to 2019, reports Intercooler Online.
Need for upgrading aging power transformers is estimated to be a critical success factor for profitability of industry participants. Growing awareness of low carbon emissions and the need for energy conservation has led to the development of smart grids and super grids. This is expected to increase market growth over the forecast period.
Power transformers of rating between 100 MVA and 500 MVA accounted for 68.2% of the overall revenue share in 2012. Despite greater cost compared to those with higher power rating, they are expected to generate higher revenue due to greater demand.
Key players worldwide include ABB Ltd., Alstom SA, Siemens Energy, Toshiba Corp., and Crompton Greaves Ltd. among others.
Source: Intercooler Online