Ireland, Dublin: Research and Markets has announced the addition of the 'Power Transformers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019' report to their offering.
According to the report, the demand for power transformers is expected to continually increase due to growing electrification in both emerging and mature economies, as well as favorable government regulations for production of green energy and power.
The largest market share in 2012 was occupied by Asia Pacific. The Middle East is now expected to steadily expand their power infrastructures, increasing the demand for power transformers, reports PR Newswire.
Power transformers between the power ratings of 100 MVA and 500 MVA are expected to exhibit the fastest growth until 2019 due to the fact that lower rating transformers are the most widely used by utilities around the globe.
Power transformers between the power ratings of 801 MVA and 1200 MVA are expected to be used for HVDC and UHVDC power generation in the Asia Pacific and Middle East regions due to rising energy demands in these regions over the forecast period.
The key industry players mentioned are ABB Ltd., Alstom SA, BHEL, Crompton Greaves Ltd., Siemens Energy, GE Co, Hyosung Power & Industrial Systems Performance Group, Toshiba Corp., and Mitsubishi Electric Corporation among others.
Source: PR Newswire