Power transformer market increasing demands and sales 2018 to 2026

Global PowerTransformer Market was valued $ 15.80 B in 2017 and is expected to reach $50.30 B by 2026, at a CAGR of 15.31 % during a forecastperiod.

Increasing demandfor energy around the globe attached with rapid growth in electricalinfrastructure projects can propel the global power transformer market.Stringent energy efficiency acquiescence, growing rate of installation of greentransformers, and developments in smart transformer technologies can additionalboost the market growth. Increasing use of smart grid system has also enlargedthe requirement for power transformers to achieve operative transmission ofelectric power.

The large powertransformer segment is increasing at a high rate owing to rise in high-voltagedirect current transmission projects in many expanses across the world. Extrahigh voltage and similar projects are being commenced to reduce transmissionlosses between large distances. Furthermore, small power leading the markettransformers as it embraces more than three windings, single phase,auto-transformer and low noise generating.

Asia Pacific isprojected to emerge as the fast grow in the global power transformer market.Speedy industrialization, urbanization, and growing rural electrification aresome of the major regional drivers in the power transformer market. Greatinvestments from governments in electrical infrastructure projects will projectthe demand for power transformers in the region.

Based on the region,the power transformer market is spread by Europe, Middle East and Africa AsiaPacific, North America, and Latin America.

Key players in theglobal power transformer market are: ABB, GE, Toshiba, Schneider, TBEA, SiemensAG, General Electric Company, and Crompton Greaves Limited

Source: KentuckyNews 24

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