Converter Transformer Market Worth $2.3 Billion by 2020

Aug 06, 2015, 11:00 ET from MarketsandMarkets

CHICAGO, August 6, 2015 /PRNewswire/ --

The report "Converter Transformer Market by Configuration (Back-to-Back, Monopolar, Bipolar, and Multi-terminal), Voltage level, Application (Wind farms, Oil & Gas, and Grid interconnections), Power rating, and by Region - Global trends and forecast to 2020"published by MarketsandMarkets, Converter Transformer Market is projected to reach $2,316.1 Million by 2020, at a CAGR of 18.2% from 2015 to 2020.

Browse 69 Tables and 52 Figures spread through 141 Pages and in-depth TOC on "Converter Transformer Market"

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The market report defines, segments analyses and forecasts the global Converter Transformer Market. It also identifies driving and restraining factors for the Converter Transformer Market, with an analysis of trends, opportunities, and challenges. The market has been segmented and the market sizes have been projected on the basis of regions, such as Europe, Asia-Pacific, and Americas.

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Key applications have been covered and projected for each region. Further, the market is segmented on the basis of voltage level, configuration, and power rating.

Asia-Pacific market size in terms of value is expected to account for the largest market share in the next five years 

Asia-Pacific region is the largest market for Converter Transformer Market. The region has been experiencing rapid development in its power transmission and distribution industry since the last 5 years and accounted for more than one-third of the total market in 2014. The region is expected to grow further during the forecast period, which can be attributed to the increasing investments in HVDC transmission projects.

Grid interconnections - Major application for the Converter Transformer Market 

Converter Transformer Market, on the basis of application, is categorized into three primary segments: Grid interconnections, wind farms, and oil & gas. Grid interconnection application held around two-third of the total market for Converter transformer in 2014. Wind farms application is estimated to be the fastest growing application market for Converter transformer between 2015 and 2020. The key driver for the market is the increasing focus on renewable energy generation especially the offshore wind energy.

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