Power Transformer Market Analysis By Product (100 MVA to 500 MVA, 501 MVA to 800 MVA, 801 MVA to 1200 MVA) And Segment Forecasts To 2020

Published: August 2015 | ISBN Code: 978-1-68038-136-8 | Report Format: PDF

Industry Insights

The global power transformer market was estimated to be over 11,300 units in 2013 and is expected to grow at a CAGR of 5.9% from 2014 to 2020. In revenue terms, the market is estimated to be over USD 18 billion in 2013. Increasing electricity demand in emerging and developed countries with rising investment in infrastructure is expected to be the key driving force for the market. High demand and supportive initiatives for smart grid development have resulted in need for smart meters, which is expected to positively impact growth over the next five years. Additionally, a number of government initiatives for installing technologically advanced power transformer and modernizing the existing power grids for improving energy efficiency and minimize losses are projected to positively impact demand.

Traditional transformers are not compatible with current environmental and technical requirements which are projected to be replaced by eco-friendly products owing to the environmental safety measures and advanced features offered by them. Developed economies are expanding cross-border electricity trade, integrating the wind and other renewable energies thereby, increasing the load flow on aging networks. These factors also lead to frequent short-circuits situations which are expected to offer lucrative opportunities for the power transformer industry growth.

Growing awareness about low-carbon emission is driving the development of super grid and smart grid. Additionally, service expansions in resource-based industries, increasing ‎Polychlorinated Biphenyls (PCB) replacement programs and growing green initiatives are estimated to offer prominent opportunities for the industry growth.

However, fluctuating prices of raw materials including steel and copper and crude oil in the international market along with pricing pressure on manufacturing companies can act as a restraint for the industry growth. 

North America power transformer market, 2012-2020, (USD Billion)

power-transformers-market

Product Insights

Key products include 100 MVA to 500 MVA, 501 MVA to 800 MVA, and 801 MVA to 1200 MVA. 100 MVA to 500 MVA products are projected to dominate the industry over the forecast period owing to its varied usage in distribution and transmission network for the step-down and step-up application.

801 MVA to 1200 MVA variants find applications for UHVDC and HVDC power generation and is estimated to witness significant growth on account of increasing energy demands from developing regions including Asia-Pacific and the Middle East.

Regional Insights

The Asia Pacific power transformer market accounted for over 40% of the global revenue share in 2013 and is anticipated to witness significant gains over the next five years owing to rapid economic development and increased need for uninterrupted and reliable power supply owing to increase in population in the region.

North America is anticipated to evolve as an emerging market owing to the increasing modernization and industrialization in the region. Several initiatives adopted by the European nations for deploying green transformer are estimated to positively elevate industry growth.

Competitive Insights

Crompton Greaves Ltd, Alstom SA, ABB Ltd, Siemens AG, GE Co., Toshiba Corp dominate power transformer market share. Improving product life along with increasing production capacity are few of the key strategies adopted by the industry participants to gain considerable industry share. Notable companies have been providing shunt reactors, HVDC light and phase shifting variants, etc. along with enhancing their product portfolio.

Alstom has developed and introduced green variants for environmentally delicate zones with features including low noise level and online monitoring system. GE portfolio includes autotransformer, general setup, and substation & auxiliary. Recently, Crompton Greaves signed a contract with Saudi Electricity Company (SEC) worth USD 3.6 million to provide smart grid solutions in Saudi Arabia.

Many international agencies and agreements have demanded both the emerging and mature economies to reduce emissions significantly. The power transformer industry is highly regulated and several regulations related to efficiency, environment and performance have to be fulfilled by Key players. Further, the key players are investing in R&D to invent new technologies for improving efficiency along with reducing losses and emissions. Strategic partnerships and acquisitions are also used for business expansion.

 

 

Key question answered by the report
  • What was the market size from 2013 to 2015?
  • What will be the market growth till 2024 and what will be the resultant market forecast in the year?
  • How will the market drivers, retraints and future opportunieties affect the market dynamics and a subsequent analysis of the associated trends?
  • What segment and region will drive or lead market growth and why?
  • A comprehensive mapping of the competitive landscape and the market participants behavior.
  • What are the key sustainability strategies adopted by market players? An in-depth analysis of these strategies and their impact on competition and growth.
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