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Global Power Transformers Market Size, Share, Development, Growth and Demand Forecast to 2020

(IT-NEWSWIRE.COM, September 12, 2015 ) The two major types of transformers used in power grid networks, are power transformers and distribution transformers. Power transformers are widely used in transmission or sub-transmission networks. There are two types of power transformers, namely step-down and step-up.

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The volatile prices of raw materials used in power transformers, such as crude oil and cold rolled grain oriented steel (CRGO), is expected to hinder the growth of the power transformer market, during the forecast period. Based on the product, the global power transformer market can be broadly classified, as 100MVA to 500 MVA, 501MVA to 800MVA, 801MVA to 1200MVA

Power transformers of rating 100 MVA - 500 MVA accounted for the largest market segment in 2014, which had been evaluated for over 60% share in market. The power transformer of rating 100MVA - 500MVA is expected to retain its market dominance, during the forecast period.

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Efacec, Hyundai Heavy Industries, SPX Transformer Solution, Mitsubishi have opened their new power transformer plants in U.S., during the recent years. India, China, U.S., Germany, U.K., Japan, Italy, France, Spain, Canada, Brazil, and Russia are some of the major power transformer market globally.

Some of the competitors in the Power Transformers Market are Toshiba Corp., Siemens Energy, Mitsubishi Electric Corporation, Hyundai Heavy Industries Co. Ltd., Hyosung Power & Industrial Systems Performance Group., GE Co., Crompton Greaves Ltd., Bharat Heavy Electricals Limited., Alstom SA., and ABB Ltd.

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The expansion of production capacity, along with the advancement in product life cycle is the key development incorporated by power transformer companies, in order to gain the larger market share. The major players in power transformer market have also started increasing their product portfolio to include products, such as phase shifting transformers, HVDC light transformers, shunt reactors to increase their market reach.


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