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Published Date: 2015-05-25Number of Pages: 92

Large Power Transformers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Power transformers connect electrical networks or systems of different voltages to allow power exchange between them. Power transformers are used for power generation, power transmission, electro-intensive industrial applications, and consumer applications. The demand for power transformers is expected to continually increase due to increasing electrification ratio in emerging as well as mature economies. The continual enhancement of technology and progressive research and development initiatives are driving the market for large power transformers with improved features and specifications considering the regional and global environmental regulations.

Favorable government regulations for production of green energy and power are also expected to fuel the growth of the power transformers market over the forecast period. Global environmental concerns highlight the need for lower emissions and water conservation in both existing and new power plants. As a result, leading companies such as Alstom have developed and introduced green transformers for environmentally delicate zones. Similarly, Crompton Greaves Ltd. designed, produced, and installed extremely low noise power transformers for environmentally critical regions. Such innovative and environmentally friendly products are expected to witness strong demand in the future due to rising environmental concerns. Therefore, the degree of competition is analyzed to grow from medium to high over the forecast period.

Based on the geographical segmentation of the global large power transformers market, Asia Pacific region occupied the largest market share in 2013, which can be attributed to rising energy demands coupled with technological advancements in this region. The Asia Pacific region is expected to account for majority of the global growth over the forecast period. However, this region has a large unorganised sector and the market in this region is highly fragmented with the presence of many local players. Rest of the World economies such as the Middle East and Africa are expected to steadily expand their power infrastructures, attracting intense competition from global as well as regional market players. Mature economies in North America and Europe regions are expected to observe steady growth owing to the various modernization and upgradation initiatives. The countries in these regions are undertaking such initiatives to boost the power generation in order to meet rising demands.

The global large power transformers market has been segmented by power rating into 100 MVA to 500 MVA large power transformers, 501 MVA to 800 MVA large power transformers, and 801 MVA to 1200 MVA large power transformers. Large power transformers between the power ratings range of 100 MVA and 500 MVA are expected to exhibit the fastest growth until 2019, with an estimated CAGR of 8.0% in terms of revenue from 2013 to 2019. This growth is attributed to the fact that lower rating transformers are the most widely used by utilities around the globe.

High Voltage Direct Current (HVDC) transformers fall under the 501 MVA to 800 MVA large power transformers segment. HVDC transformers are either built as single-phase or three-phase units, depending on voltage, power and transportation considerations. The 501 MVA to 800 MVA large power transformers segment is expected to witness a steady growth in the next six years. Furthermore, the large 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 on account of rising energy demands in these regions over the forecast period.

Moreover, the key industry players have been profiled on the basis of company overview, financial overview, business strategies, SWOT analysis and recent developments in the field of large power transformers. The key industry participants ABB Ltd., Alstom SA, Crompton Greaves Ltd., Siemens AG, General Electric Co, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries Ltd. and TBEA Co. Ltd. among others.

Large power transformers connect electrical networks or systems of different voltages to allow power exchange between them. Large power transformers are used for power generation, power transmission, electro-intensive industrial applications and consumer applications. The industrial applications include mining, paper and cement mills, chemical plants, substations and power generation. Various applications of large power transformers include hydel power station, thermal power station, and nuclear power plant among others.

 

This market research study analyzes the large power transformer market on a global level, and provides estimates in terms of volume (Unit shipment) and revenue (USD Billion) from 2013 to 2020. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the coming years.

 

The report segments the market on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World (RoW), and estimated in terms of volume (Unit shipment) and revenue (USD Billion). In addition, the report segments the market based on power rating into 100 MVA to 500 MVA large power transformers, 501 MVA to 800 MVA large power transformers and 801 MVA to 1200 MVA large power transformers. Each power rating segment has also been estimated on the basis of geography in terms of volume (Unit shipment) and revenue (USD Billion).

 

Asia Pacific and Rest of the World economies are expected to be the most attractive and fastest growing regions. The growth of the global large power transformers market is attributed to the increasing demand for electricity in both the mature and emerging economies of the world. Increasing industrialization and modernization is enhancing the demand for large power transformers globally. Most widely used large power transformers globally are the segment with power rating 100 MVA to 500 MVA. This segment is expected to constantly dominate the global large power transformers market during the forecast period. large 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 on account of rising energy demands in these regions in the near future.

 

The governments across the world are undertaking initiatives to modernize the existing power grids and install technologically enhanced power transformers. The initiatives adopted by the European nations for the deployment of green transformers is also providing substantial positive shift to the global large power transformers market. However, the market also encounters certain economic restraints such as the volatility of the raw material prices in the international markets.

 

For better understanding of the global large power transformers market, we have given detailed analysis of the PESTLE and value chain. Moreover, a detailed Porter’s five forces analysis has been given for a better understanding of the intensity of competition present in the market. Furthermore, the study comprises of a market attractiveness analysis, where the applications are benchmarked based on their market scope, growth rate and general attractiveness. Awareness about the low carbon emission transformers is growing worldwide and offer growth opportunities in the future. Smart grids and smart networks are also enhancing the market opportunities for the large power transformers market during the forecast period.

 

The report provides company market share analysis of the various industry participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies, SWOT analysis, and recent developments in the field of power transformers. Major market participants profiled in this report include ABB Ltd., Alstom SA, Crompton Greaves Ltd., Siemens AG, GE Co, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries Co. Ltd., and TBEA Co. Ltd. among others.

 

Large Power Transformers Market: Power Rating Analysis

  • 100 MVA to 500 MVA
  • 501 MVA to 800 MVA
  • 801 MVA to 1200 MVA

Large Power Transformers Market: Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • RoW


 
 
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