Lewes, DE -- (SBWire) -- 10/19/2015 --The value of the global power transformers market will increase from $11.3 billion in 2015 to $14 billion by 2020, driven by the nine major markets of the US, China, India, Saudi Arabia, Brazil, Japan, Germany, Canada and the UK, according to new report.
The company's latest report states that growth will primarily be driven by extensive power plant capacity additions, economic growth, and the need to improve access to electricity in emerging economies, such as Asia-Pacific and the Middle East.
According to Senior Analyst covering Power says: "China is an attractive destination for power transformer companies, firstly because of the size of the grid, which is the largest in the world, and secondly thanks to substantial investment in the expansion and upgrade of the country's grid infrastructure.
"Furthermore, Saudi Arabia is planning large-scale investment, amounting to a total of around $100 billion, which is to be spent within the next 10 years on doubling domestic power generation from the current level of 40,000 MW to 80,000 Megawatts (MW)."
The analyst adds that the while there have been comparatively few new power transformer installations in North America and Europe, aging equipment and grids provide major opportunities for companies in the power transformer replacement segment.
The European Union's plans to strengthen individual countries' power grids and establish a pan-European grid will also be a strong driver for the market, as it involves substantial investment in power transformers.
The report also states that the market faces increasing fragmentation, as even major companies possess single-digit shares of the global market.
Senior Analyst continues: "A number of regional companies, such as Bharat Heavy Electricals in India and Mitsubishi Electrical Corporation in Japan, are involved in the domestic manufacture of medium and large power transformers.
"While these companies have a high understanding of their local market conditions and extensive experience, global GDP growth slowing as a result of the financial crisis will continually affect the power transformer market as investment in infrastructure development projects declines," the analyst concludes.
Power Transformers Market, Update 2015 - Global Market Size, Equipment Market Share and Key Country Analysis to 2020 report provides analysis of the power transformer market in China, US, India, Saudi Arabia, Brazil, Japan, Germany, Canada and UK. It covers average price, volume and market size for the period from 2006 to 2020 as well as market drivers and constraints.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by Publisher's team of industry experts.
For further information on this report, please visit- http://www.marketresearchreports.com/globaldata/power-transformers-market-update-2015-global-market-size-equipment-market-share-and-key
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