Global Power Transformer Market to Exceed $19 Billion by 2020

Monday 11 November 2013, Amsterdam

Market Research Report Press Release Driven by emerging countries’ extensive power plant capacity additions, economic growth and the need to improve access to electricity, the global power transformer market is expected to increase from $10.3 billion in 2013 to $19.7 billion in 2020, at a Compound Annual Growth Rate (CAGR) of 9.6%, forecasts a research and consulting firm.

According to the report, the increase in electricity demand by China, India and the Middle East is the major boost behind the global power transformer market’s forecast growth. Between 2013 and 2020, global electricity consumption is expected to increase from 20,248 Terawatt hours (TWh) to 25,415 TWh.

Although the global power transformer market is highly fragmented, seven leading companies accounted for more than 50% of its share in 2012. ABB led the market with a 12% share, followed by Tebian Electric Apparatus Stock Co. (TBEA) with 11%, Siemens with 10% and Alstom Grid with 7%.

Sowmyavadhana Srinivasan, a Senior Analyst covering Power, says:  “The growth of global electricity demand is driving the construction of new power plants, as is the need to improve the connectivity of the electricity grid and ensure that demand is met.”

Additionally, the need to replace and upgrade old transformers in North America and Europe will also be a key market driver.

“The UK grid is already old and it is expected that unless substantial replacement and upgrade works are undertaken, there could be blackouts in the country. Similarly, in other European countries, such as Germany, continuous refurbishment activities are underway in the grid and in power plants to achieve a stable grid,” says Srinivasan.

However, pricing pressures on power transformer companies, along with an increase in raw material costs and the global economic slowdown, could restrain the market in the foreseeable future.
Power Transformers Market for Power Industry, 2013 Update - Global Market Size, Equipment Market Share, Key Country Analysis to 2020

Power Transformers Market for Power Industry, 2013 Update - Global Market Size, Equipment Market Share, Key Country Analysis to 2020

Publish date : October 2013
Report code : ASDR-87065
Pages : 120

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