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Pune, India -- (SBWIRE) -- 01/22/2020 -- A recent report published by Infinium Global Research on Power Transformer Market (Cooling Type - Oil-cooled Transformer, and Power-cooled Transformer; Power Rating - Small Power (100 MVA to 500 MVA), medium Power (501 MVA to 800 MVA), and Large Power (801 MVA to 1200 MVA)): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025. According to the report, the global power transformer market is projected to grow at a CAGR of 8.1% over the forecast period of 2019-2025.
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Investments in the Energy Sector due to Developments in Infrastructure are Boosting the Growth of the Industry
The power transformers market is expected to be driven by factors such as increasing rate of installation of green transformers, growth in the renewable energy sector, rising transmission and distribution projects. Further, investments in the energy sector due to developments in infrastructure are boosting the growth of the market. However, power transformers are expensive as compared to conventional distribution transformers that hinder the growth of the market. Moreover, deployment of green transformers and increasing investments in T&D infrastructure are expected to provide growth opportunities to the market players.
Power Transformer Market: Segmentation
The global power transformers market is segmented on the basis of cooling type and power rating. On the basis of cooling type, the market is segmented into the oil-cooled transformer and power-cooled transformer. The oil-cooled transformer segment holds a large market share due to the winding and core are absorbed in mineral oil. Based on the power rating, the market is segmented into small power (100 MVA to 500 MVA), medium power (501 MVA to 800 MVA), and large power (801 MVA to 1200 MVA). The large power transformer segment holds a large market share owing to increase in high-voltage direct current transmission projects in many expanses across the world.
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Power Transformer Market: Regional Insight
Among the regions, Asia-Pacific holds the largest market share of the global power transformers market followed by North America. Rapid growth in industrialization and urbanization and growing rural electrification are driving the growth of the market in this region. The countries such as India and China from the Asia Pacific region hold the largest market share in the global power transformer market. The presence of well-established market players and rapid technological advancements are driving the market growth in the North America region.
Power Transformer Market: Competitive Analysis
Some of the industry participants of the global power transformers market are Crompton Greaves Ltd., General Electric Company, ASEA Brown Boveri Group, Siemens AG, Schneider Electric SA, Hyundai Heavy Industries Co. Ltd., Tebian Electric Apparatus, Bharat Heavy Electricals Limited, Toshiba Corporation, and Mitsubishi Electric Corporation among the others.
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About Infinium Global Research
The Infinium Global Research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The power transformer market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the power transformer market.