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SOURCE: Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on the Power Transformers markets. Global market for Power Transformers is projected to reach US$26 billion by the year 2018, primarily driven by increasing capital expenditure in power sector from government worldwide, increasing demand for electricity in the developing countries, and replacement demand from developed markets.
San Jose, California (PRWEB) February 01, 2013
Follow us on LinkedIn – Power transformer, which has a large capacity, usually more than 10 MVA or 10,000 KVA, plays an important role in the power distribution network. The demand for power transformers exclusively emerges from utilities or companies and certain large-scale industries that consume power on a large scale. Therefore, fortunes in the industry are directly proportional to spending by utilities for expansions, replacements, and efficiency improvements. Also, globally, the much-required attention is being bestowed upon power transmission networks, owing to factors such as economic growth and increasing population, which encourage considerable investments in strengthening and expansion of grids, thereby propelling demand for equipment used in electric power generation, transmission, and distribution, such as power transformers. Other factors expected to wield substantial impact in the coming years include increasing investments on alternative energy resources and ongoing implementation of energy-efficiency norms and standards in power industries.
Despite the fact that global power transformers market witnessed sizeable growth until 2008, the economic downturn that began in late 2008 derailed this momentum, putting immense downward pressure on the global sales of power transformers. While the transformers market in most regions worldwide continues to recover steadily from the 2007-2009 world economic recession, the market in Europe is running into fresh set of challenges created by the region’s ongoing sovereign debt crisis. The region’s power sector, which is the most risk prone, is now witnessing reduced investments in the wake of renewed fears over the European government’s ability to get the debt crisis under control.
Manufacturers of power transformers are expected to witness significant increase in business activity in the ensuing years despite various macro-economic challenges. Demand for electricity continues to rise in the emerging economies, while the need to replace old electricity generation, transmission and distribution equipment in developed countries is on the high. Together, these factors are expected to generate substantial demand for transformers in the foreseeable future. Increasing funding for the infrastructure projects, such as the establishment of power grids, and the projects for developing infrastructure in electricity transmission and distribution from various governments worldwide, are also expected to work in favor of the power transformers industry in the years ahead.
Yet another aspect that is expected to provide increasing business for power transformer manufacturers is the espousal of energy-efficiency standards in the developed markets, such as Europe and the US, and in emerging markets such as South Korea and China, which would create demand for new, more efficient electricity equipment, including transformers. The new standards make it mandatory for customers across all end-use sectors to use only energy-efficient products. Various incentive schemes and tax credits offered by certain governments for various industries to drive them towards capital purchases in the form of energy-efficient equipment are expected to give a boost to the demand for transformers in the following years.
As stated by the new market research report on Power Transformers, Asia-Pacific emerged as the largest and the fastest growing regional market worldwide. Growth in Asia-Pacific will be especially driven by China, given the robust economic growth and industrialization in the country. Apart from China, India constitutes another significant country in the region with massive expansion plans in the power generation and transmission sector. Manufacturers, who had earlier witnessed their profit margins decline, are also expected to capitalize on the growing demand in the developing countries. Leading players in the global transformers market have already ventured into emerging markets, and others are expected to follow suite in a bid to strengthen their market presence.
Although European companies such as ABB, Siemens and Alstom have been dominating the global market for power transformers, companies from Japan, Korea, and India have entered the fray during the past few years and have been establishing a formidable presence in the global trade. The entry of electrical giants, including Kirloskar and BHEL from India and Hyundai from Korea into the international arena is expected to influence the international trade in the near future. Further, competition is slated to intensify in future with the entry of companies from Eastern Europe, China, Mexico, and Brazil.
Major players profiled in the report include Alstom, Asea Brown Boveri (ABB), Bharat Heavy Electricals Limited (BHEL), Changzhou XD Transformer Co., Ltd., Crompton Greaves Ltd., Eaton Corporation, Hammond Power Solutions Inc., Hyundai Heavy Industries Co., Ltd., Kirloskar Electric Company Limited, Siemens AG, SPX Transformer Solutions Inc., among others.
The research report titled “Power Transformers: A Global Strategic Business Report” announced by Global Industry Analysts Inc. provides a comprehensive review of the power transformers market, key market trends, current issues and concerns, growth drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report presents global electricity production, global per capita electricity consumption, market share breakdown of leading power transformer suppliers, power transformers cost breakdown, and other critical information. The report provides market estimates and projections for global power transformers market in US$ for all geographic markets, including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America, and Rest of World. Also, a six-year (2004-2009) historic analysis is provided for an additional perspective.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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