USA, California: Global Industry Analysts has released a comprehensive global report on power transformers “Power Transformers: A Global Strategic Business Report”.
According to the report, the global market for power transformers in projected to reach $22 billion by 2020, driven by the rising demand for energy efficient, eco-friendly transformers, reports Virtual-Strategy Magazine.
The growth in the global power transformers market will be driven by the growing population and its demand for energy, higher standards of living, and rising environmental awareness, among others.
Another growth driver is the adoption of energy-efficiency standards in developed and in emerging markets, which would create demand for new, more efficient power transformers.
The key players covered in the report include Alstom, ABB, BHEL, Changzhou XD Transformer Co., Ltd., Crompton Greaves Ltd., EFACEC Group, Hyundai Heavy Industries Co., Ltd., Siemens AG, SPX Transformer Solutions Inc., among others.
Source: Virtual-Strategy Magazine