Nov 7, 2020   SOURCE: BusinessWire

New Power Transformers Market Research Highlights Recovery Path for Businesses From the COVID-19 Pandemic | Technavio

The new power transformers market research from Technavio indicates Negative and Inferior growth in the short term as the business impact of COVID-19 spreads.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201106005287/en/

Technavio has announced its latest market research report titled Global Power Transformers Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Power Transformers Market 2020-2024 (Graphic: Business Wire)

"One of the primary growth drivers for this market is the modernization of existing transformers,” says a senior analyst for industrials at Technavio. The growing demand for power worldwide has necessitated the renovation and expansion of the existing transmission and distribution infrastructure. Hence, governments across the world are undertaking various initiatives to modernize and improve the existing power infrastructure. Also, many countries are increasingly adopting smart grids to ensure economical, sustainable, and secure electricity supply to all users. This has increased the installation of more power transformers for the effective transmission of electric power. Many such factors are fueling the growth of the global power transformers market.

Get detailed insights on COVID-19 pandemic Crisis and Recovery analysis of power transformers market. Download free report sample

Power Transformers Segment Highlights for 2020

  • The power transformers market is expected to post a year-over-year growth rate of 5.08%.
  • Liquid-immersed power transformers segment led the growth of the power transformers market in 2019.
  • The growing population and thriving economies have led to expanded electricity coverage in the Middle East, fueling the installation of new grid networks. Such factors are expected to drive the liquid-immersed power transformer segment of the power transformers market during the forecast period.
  • The power transformers market share growth by the dry-type power transformers segment will be significant during the forecast period.

Regional Analysis

  • 58% of the growth will originate from the APAC region.
  • Factors such as the growing electricity consumption will significantly drive power transformers market growth in this region over the forecast period.
  • China and Japan is a key market for power transformers in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.

Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.

Notes:

  • The power transformers market size is expected to accelerate at a CAGR of almost 6% during the forecast period.
  • The power transformers market is segmented by type (liquid-immersed power transformers and dry-type power transformers) and geography (APAC, Europe, MEA, North America, and South America).
  • The market is fragmented due to the presence of many established vendors holding significant market share.
  • The research report offers information on several market vendors, including CG Power and Industrial Solutions Ltd., Eaton Corp. Plc, Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corp., Schneider Electric SE, Siemens AG, and Toshiba International Corp.

Register for a free trial today to access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.