Global energy production has increased over the past decade, from 15,409.0 TWH in 2000 to 23,536.5 TWH in 2014. This has also led to the increasing need for expanding T&D networks globally; new T&D infrastructure needs USD 1.9 Trillion in cumulative investment by 2024 to meet the growing energy demands.
This includes substations, power lines, and associated equipment and new technology. Governments worldwide are investing in T&D network expansion projects, increasing the demand for power transformers. The power transformer market is projected to reach USD 29.9 Billion by 2020, from USD 20.7 Billion in 2015, at a CAGR of 7.6% during the forecast period.
The report covers major market players such as ABB (Switzerland), Siemens (Germany), Crompton Greaves (India), and General Electric (U.S.) among others. These companies together occupy about half of the power transformer market.
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Scope of the report
On the basis of rating
- Small Power Transformer (Up to 60MVA)
- Medium Power Transformer (61 – 600MVA)
- Large Power Transformer (Above 600MVA)
On the basis of type of cooling method
On the basis of Region
- North America
- South America
- Middle East
Browse 67 market data tables with 38 figures across 157 pages and in-depth TOC on “Power Transformer Market – Global Trends & Forecasts to 2020″
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Oil-Cooled power transformers dominate the power transformers market
The oil-cooled power transformer segment occupies a larger market size, as it is considered a safer option while handling high voltages. And, with increasing number of high voltage transmission projects being undertaken, the demand for oil-cooled power transformers is expected to be higher than air-cooled power transformers.
Asia-Pacific: the largest market for power transformers
The power transformer market is driven by increasing global energy consumption; to fulfill this, new T&D lines are being installed. Moreover, investments being made by governments in electrical infrastructure projects have also gone up, further aiding in the growth of the power transformer market. Asia-Pacific is the largest market for power transformers, and its demand in the region is mainly driven by extensive T&D network expansion projects in developing countries such as India and China.
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Currently, small power transformer is the largest segment of the power transformer market, primarily due to its use in various applications. However, large power transformer is the fastest growing segment. With countries emphasizing on reducing transmission losses, the use of high voltage transmission technologies such as EHV, UHV, and HVDC has also gone up.
Oil-cooled power transformer segment is projected to hold a larger market size as compared to air-cooled power transformers. This is due to the fact that oil-cooled power transformers are considered safer while dealing high voltage applications. With growing high voltage transmission network expansion activities, the oil-cooled power transformer market is expected to grow at a higher CAGR during the forecast period.
Asia-Pacific was the largest market for power transformers in 2014, and is expected to dominate the market till 2020. Europe is the second largest market, partly due to the replacement of aging infrastructure activities going on in the region. Meanwhile, Asia-Pacific is also the fastest growing market for power transformers, as the region is witnessing some of the largest T&D expansions being carried out due to rapidly increasing demand in countries such as India and China.
The available customization for the power transformer market report includes the following:
- Detailed analysis and profiling of additional market players (Up to 5)
- Country-wise analysis can be extended by one country for every region
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