Transformer Market to Cross $70bn by 2024: Global Market Insights, Inc.
OCEAN VIEW, Delaware, September 26, 2017 /PRNewswire/ --
The industry analysis report "Transformer Market [https://www.gminsights.com/industry-analysis/transformer-market?utm_source=prnewswire.com&utm_medium=referral&utm_campaign=Paid_prnewswire ] Size By Core (Closed, Shell, Berry), By Product (Distribution Transformer, Power Transformer, Instrument Transformer {Current, Potential}), By Winding (Two Winding, Auto-Transformer), By Installation (Outdoor, Indoor), By Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self Cooled, Water Cooled, Forced Oil}), By Insulation (Gas, Oil, Solid, Air), By Phase (Three, Single), By Rating (less than or equal to 10 MVA, 11 To 60 MVA, 61 To 600 MVA, > 600 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Residential & Commercial {Hotels, Hospitals, Apartments}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, France, Russia, UK, Italy, Spain, Netherlands, China, Japan, South Korea, India, Australia, Saudi Arabia, UAE, Qatar, South Africa, Nigeria, Egypt, Brazil, Peru, Argentina), Price Trends, Competitive Market Share & Forecast, 2017 - 2024", by Global Market Insights, Inc. says Transformer Market share will reach over USD 70 billion by 2024.
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Rising security of supply concerns along with global inclination towards energy conservation will foster the transformer market size. Energy efficiency propositions favored by expeditious expansion of smart-grid networks will further stimulate the product penetration. In 2017, Sweden, Italy, UK, Germany and France, entered a smart grid agreement. The concord lays investment provisions worth USD 133.7 billion to cater the expansion of smart grid technologies across Europe.
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Increasing infrastructural expenditure subject to widespread residential and commercial establishments across developing regions will stimulate the transformer market share. Rising demand for the refurbishment of grid infrastructure coupled with rapid adoption of smart transmission & distribution equipment will further complement the industry outlook. In 2017, East Spring Investments, proposed an investment worth USD 500 million towards the structuring of infrastructure debt across developing economies.
China transformer market in 2016, accounted for an annual installation of over 15 '000 units. Ongoing reforms in line with the establishment of a sustainable grid infrastructure will positively influence the product landscape. Stringent norms toward the replacement of fossil fuels with clean energy resources supported by renewable integration target will embellish the business growth.
The > 600 MVA in 2016, accounted over 30% of the global transformer market share. Rapid deployment of high voltage networks to cater the rising electricity demand from industries across Asia Pacific and Africa will embellish the business growth. Ongoing expansion of utility infrastructure along with retrofitting of existing transmission infrastructure will further stimulate the product demand.
Browse key industry insights spread across 800 pages with 1530 market data tables & 17 figures & charts from this 2017 report Transformer Market in detail along with the table of contents at:
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Soaring energy security concerns along with exponential rise in energy consumption will substantially augment the global transformer market size. Increasing complexity of grid infrastructure on account of expanding electricity networks and increasing demand for energy, obligate the adoption of sustainable T&D equipment. In addition, increasing consumer awareness towards the integration of effective energy mix favored by perpetual electrification programs will further complement the industry outlook.
The U.S. transformer market will witness sustainable growth owing to rising investments toward the replacement and upgradation of conventional grid networks across the nation. Expeditious expansion of rail-road infrastructure propositions backed by the peninsula corridor electrification program will positively influence the product demand. In 2017, the U.S. Federal Transit Administration allocated funds over USD 100 million to reinforce the expansion of electrical networks to cater the rail infrastructure in California.
Middle East & Africa transformer market is projected to witness steep progression subject to the rapid expansion of micro-grid networks coupled with the ongoing adoption of decentralized generation technologies. Soaring investments from financial institutions including the African Development Bank (ADB), and the International Finance Corporation (IFC), toward electrification across the nation will further nourish the business landscape. In 2017, The African Development Bank proposed investments worth USD 12 billion to cater the soaring power sector across Africa.
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Notable participants in the transformer market include General Electric, ABB, EATON, Siemens, Schneider Electric, Crompton Greaves, Mitsubishi Electric, Hyundai Electric, Hyosung, Toshiba Corp., Daihen, BHEL, Kirloskar, SPX Transformer, Ormazabal, Ruhstrat, and Celme.
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https://www.gminsights.com/industry-analysis/power-transmission-components-market [https://www.gminsights.com/industry-analysis/power-transmission-components-market?utm_source=prnewswire.com&utm_medium=referral&utm_campaign=Paid_prnewswire ]
- Middle East Distribution Transformer Market Forecast, 2016 - 2024
Middle East Distribution Transformer Market size was over USD 2.75 billion in 2015, and is anticipated to grow at 3.9% CAGR from 2016 to 2024. Growing demand for alternative energy and rising cost of generating electricity has led to transformation of conventional electric grid to smart grid. These products are a hub for collection and distribution of energy and a key component of successful transition to smart grid. There exists increased focus on renewable power sources such as solar and wind energy owing to limited availability of non-renewable sources.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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