Albany, NY -- (SBWIRE) -- 05/07/2014 -- Power Transformers Market was valued at USD 17.12 billion in 2012, which is expected to reach USD 28.69 billion by 2019, growing at a CAGR of 7.7% from 2013 to 2019. In terms of volume, the demand for power transformers was 10,474 units in 2012, which is expected to reach 17,283 units by 2019, growing at a CAGR of 7.5% from 2013 to 2019.
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Increase in demand for energy on a global scale is expected to drive the power transformers market over the next few years. In addition, need for upgrading aging equipment is estimated to be a critical success factor for profitability of industry participants. Growing awareness regarding the importance of low carbon emissions and the need for energy conservation has led to the development of smart grids and super grids. This is expected to be a significant opportunity for market growth over the forecast period. Volatility in the prices of raw materials such as Cold Rolled Grain Oriented (CRGO) steel and crude oil is expected to act as a restraint to the industry in the coming years.
Power transformers of rating between 100 MVA and 500 MVA dominated the market, and accounted for 68.2% of the overall revenue share in 2012. Although the unit cost of these power transformers is lower than that of those with higher power rating, they are expected to generate higher revenue on account of greater demand. Asia Pacific held the largest share, and the market in this region was valued at USD 6.85 billion in 2012. It is also expected to be the fastest growing region, with an estimated CAGR of 8.2% from 2013 to 2019.
The market is moderately fragmented, with key players across the globe. Major industry players include ABB Ltd., Alstom SA, Siemens Energy, Toshiba Corp., and Crompton Greaves Ltd. among others.
The report studies the global power transformers market, and provides estimates in terms of revenue (USD Billion) from 2013 to 2019. Market estimates on the basis of geography have also been provided for each range of power rating. The market has been segmented as follows:
Power Transformers Market - Power Rating Analysis:
100 MVA to 500 MVA
501 MVA to 800 MVA
801 MVA to 1200 MVA
Power Transformers Market - Regional Analysis:
Rest of the World (RoW)
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