DUBLIN, Dec. 09, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/gs7s5l/power_transformer) has announced the addition of the "Power Transformer Market - Global Trends & Forecasts to 2020" report to their offering.
Power transformer market is projected to reach USD 29.91 Billion by 2020, from an estimated USD 20.71 Billion in 2015, at a CAGR of 7.6% from 2015 to 2020. Governments worldwide, due to the rapid increase in electricity demand, are not only focusing on raising generation capacities but also emphasizing on improving T&D infrastructure.
The global electricity demand is projected to grow at an annual rate of 2.4% from 2009 to 2035. Investments have been high in power transmission & distribution sector in developed as well as developing countries.
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.
Grid stability and reliability have driven new investments and overall spending in the transmission and distribution markets, with fewer major outages occurring in recent years. Despite a strong focus on grid infrastructure renewal, especially in Europe, there has also been significant expansion of the grid network. In 2011, the total installed transmission and distribution line length reached 69.5 Million kilometers; in 2016, that figure is set to reach 74.2 Million kilometers. In 2011, Capital Expenditure (CAPEX) in transmission and distribution rose to USD 190.21 Billion, and is forecast to increase to USD 231.83 Billion by 2016. There is an ever-increasing capital spend as seen in previous years during the replacement of existing technology with higher-end smart ones.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Power Transformers Market, By Rating
7 Power Transformers Market, By Cooling Type
8 Power Transformer Market, By Region
9 Competitive Landscape
10 Company Profiles
- ABB Ltd.
- Bharat Heavy Electricals Limited
- Crompton Greaves Limited
- General Electric Company
- Hyosung Group
- Hyundai Heavy Industries Co., Ltd.
- Mitsubishi Electric Corporation
- SPX Transformer Solutions, Inc.
- Siemens AG
- Toshiba Corporation
For more information visit http://www.researchandmarkets.com/research/gs7s5l/power_transformer
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SOURCE Research and Markets