Portland, OR -- (SBWIRE) -- 06/27/2017 -- Converter transformer is a special-transformer which is designed for offering high-current low voltage solutions for industrial applications. Converter transformers have widespread applications for large drive applications. Growing trends towards the adoption of renewable energy generation in the global power industry scenario have led different countries to progressively invest into renewable energy projects and these special transformers help they enhance their unconventional power generation capabilities.

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The high demand for efficient power transmission solutions, need for integration of smart grid technologies along with the increasing government infrastructure are the key factors driving the growth of the market. However, capital-intensive nature of manufacturing processes and the lack of product standardization mechanism are the major factors hampering the growth of the market. Rapidly increasing the power generation by offshore wind farms and growing environmental concerns towards high power transmission features are the factors that will offer ample growth opportunities to the world converter transformer market.

Key market players profiled in the report include ABB Ltd., General Electric, Siemens, and Crompton Greaves, and others.

CONVERTER TRANSFORMER MARKET KEY SEGMENTS:

Market By Type
-201-400 Kv
-401-600 Kv
-601-800 Kv

Market By Application
-Windfarms
-Oil & Gas
-Grid Connections

Market By Geography
-Americas
-Asia-Pacific
-Europe

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