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Power Transformer Market statistics and research analysis released in latest report

An outlook on Power Transformer Market growth is presented in this latest research report that reviews industry growth drivers, trends, regional facto
Amit singh | 27.09.2017
801 MVA to 1200 MVA output power transformer market size was valued USD 2.54 billion in 2014 and is anticipated to gain significantly, with estimates of USD 3.85 billion by 2022.
Increasing energy demand from emerging countries such as China, India and Brazil is likely to support demand. 501 MVA to 800 MVA output power was valued at USD 4.27 billion in 2014, with projections of USD 6.69 billion by 2022, at estimated gains of 5.5% from 2015 to 2022.

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Increasing electrification ratio in emerging economies such as China, India, Brazil, and Russia should drive demand for power generation. Moreover, load growth and high transmission & distribution losses highlight the need to increase substations. Due to rapid economic development and increased need for uninterrupted and reliable power supply in these countries, the industry should exhibit healthy growth from 2015 to 2022. However, unstable raw material prices are likely to challenge power transformer market demand over the next six years.

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Economic growth, demand for power and the need to efficiently integrate renewable power generation is anticipated to drive the power transformer market over the forecast period. Pressure on transmission systems have caused in longer lines and higher currents and voltages, has raised the demand for higher rated and more efficient power transformers across the globe. Moreover, developments majorly focusing on the major components such as windings, core, insulation and cooling systems is expected to propel the power transformer market size over the future. For instance, power transformers make use of grain orientated steel materials for the core. Recent developments in the market have led to the increased usage of even thinner material thickness to reduce losses.

Reasons to Buy This Report:
1. Power Transformer Market size & share forecast by product & application 2015-2022
2. Growth drivers, pitfalls & industry challenges
3. Power Transformer Market growth opportunities & emerging business models
4. Competitive benchmarking with market share analysis and company profiles
Furthermore, rising demand for smart transformers to address the increasing demand for electricity across the globe offers significant growth prospects to the power transformer market share. These devices are an essential part of the smart grid and offer regulated power supply with frequent feedback and monitoring for outage prevention. Moreover, they improve efficiency of grids coupled with reduction in electricity wastage.

Fluctuations in the prices of components used in transformers may negatively impact the power transformer market size. In addition, standardization issues and high capital cost involved in transforming the traditional infrastructure owing to the growing industrialization and modernizations may impose challenges to the industry. Technology upgrades are not easily attainable owing to the lack of skilled manpower shortage, adequate testing facilities, and uncertainty in government norms and standards, which may hinder the power transformer market.

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Small power transformer market share dominated the global revenue with over 68% in 2014 owing to the low installation cost and high demand across utility and healthcare sectors. The manufacturing and procurement of large power transformers is an intricate process, which includes large manufacturers, the purchase of raw materials, a competitive bidding process, and exclusive modes of transportation owing to its weight and size. In addition, the breakdown of a solitary unit of a large transformer can cause temporary service disruption and lead to collateral damage.

Asia Pacific is anticipated to observe substantial surge at a CAGR of over 6% from 2015 to 2022 owing to the improving infrastructure and surge in government investments to increase the installed capacity across the countries including India and China power transformer market. The Government of India is supporting investments at the T&D level to reduce technical and commercial losses and increase access to consistent power supply in the system through programs such as Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY) and Revised Accelerated Power Development and Reform Program (R-APDRP).

Moreover, rising demand from oil & gas industry in India is expected to boost the power transformer market. In India, increasing investment in transmission & distribution (T&D) segment to encourage use of energy efficient transformers, restructuring, modernization, and upgrade of the T&D infrastructure is expected to escalate the regional power transformer market size.

The global power transformer market share is anticipated to witness significant growth across the global owing to the increasing demand for power. One of the significant factors driving an overall increase in electricity demand is the expanding energy appetite of telecommunication and information systems infrastructure. For example, huge modern data centres belong to the largest users of electricity.

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