Large Power Transformers Market
Large Power Transformers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Press Release :
Global Large Power Transformers Market: Snapshot
Power transformers create a connection between electrical systems or networks of different voltages and further allow power exchange between them. Power transformers are extensively used for power transmission, power generation, electro-intensive industrial applications, and consumer applications. The rising electrification ratio in developing economies and developed economies is predicted to enhance the growth of the global large power transformers market in the next few years.
Environmental Benefits Offered by Large Power Transformers to Enhance Market Growth
According to the market research study by Transparency Market Research, in 2013, the global market for large power transformers was worth US$18.3 bn and is predicted to reach a value of US$18.3 bn by the end of 2020. The market is likely to register a promising 7.80% CAGR between 2014 and 2020. Furthermore, on the basis of volume, in 2013, the market stood at 11,223 units and is likely to reach 18,709 units by the end of 2020. The market is estimated to register a 7.70% CAGR between 2014 and 2020.
The favorable government rules and regulations for the production of green energy and power is considered as one of the major factors estimated to enhance the growth of the global large power transformers market in the coming few years. The rising environmental concerns related to the need for lower emissions and water conservation in both new and existing power plants is further predicted to accelerate the growth of the market in the near future. In addition to this, the growing focus on innovations and the advent of environmentally friendly products is estimated to support the growth of the market and generate potential growth opportunities for the market players in the next few years.
Asia Pacific to Register Strong Growth in Global Large Power Transformers Market
From a region outlook, the global large power transformers market has been categorized into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. In the last few years, Asia Pacific led the market with a significant share and this region is expected to maintain its dominance in the coming few years. The increasing energy demand and the growing focus on technological advancements are the key factors that are predicted to enhance the growth of the Asia Pacific market in the near future. In addition to this, the presence of several new players is another major factor that is likely to accelerate the growth of the market in the coming few years. Furthermore, the Middle East and Africa is predicted to register a promising growth rate in the near future. Furthermore, Europe and North America are likely to observe a steady growth in the coming years, thanks to the rising upgradation initiatives.
The global market for large power transformers has been characterized by a high level of fragmentation, along with the presence of a large number of players operating worldwide. The rising focus of the leading players on technological advancements and innovations, which is predicted to enhance the growth of the overall market in the coming few years. In addition to this, the expansion of the product portfolio is expected to support the market growth in the near future. Some of the key players operating in the large power transformers market across the globe are TBEA Co. Ltd., Alstom SA, Siemens AG, Hyosung Power & Industrial Systems Performance Group, ABB Ltd., General Electric Co, Crompton Greaves Ltd., and Hyundai Heavy Industries Ltd.
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
- Asia Pacific