Pole mounted transformer market is poised to witness gain over 5% by 2024 led by rapid expansion of transmission and distribution networks subject to rural electrification reforms across developing regions and rising investments towards infrastructural development including roads, and railways.
Selbyville, DE -- (ReleaseWire) -- 04/11/2018 --The Industry growth report "Transformer Market Size By Core, By Product, By Winding, By Installation, By Cooling, By Insulation, By Rating, By Mounting, By Application and 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 is expected to cross $70 billion by 2024.
Rising security of supply concerns along with global inclination towards energy conservation will foster the transformer market size. Energy efficiency propositions favoured 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.
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.
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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 the report, "Transformer Market" in detail along with the table of contents:
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.
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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