Modernization of Infrastructure in Capital-Rich Economies to Drive Large Power Transformers Market

According to a new research report published by Transparency Market Research (TMR), titled “Large Power Transformers Market - Global power Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, the global large transformers market was valued at US$18.35 billion in 2013. TMR states that the market will expand at a CAGR of 7.8% from 2014 to 2020 to reach US$31.05 billion by 2020. By volume, the demand for large power transformers will reach 18,709 units by 2020, increasing from 11,223 units in 2013 at a 7.7% CAGR from 2014 to 2020.The report states that easy availability of technologically improved products and increasing use of electricity in agriculture, industrial production, and domestic use is primarily driving the large power transformers market.

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In the coming years, environment-friendly large power transformers will observe substantial growth due to their environmental viability and advanced related features, according to TMR analysts. Global environmental considerations take into account the need for low emissions and water conservation for both new and existing power plants. To cater to such needs, leading companies such as Alstom have launched green transformers for environmentally sensitive areas. Likewise, Crompton Greaves Ltd. has developed and installed quiet power transformers for usage in wildlife reserves and other environmentally sensitive regions, to reduce noise pollution.

Moreover, in matured economies, state-run initiatives for upgrade of outdated power grids with advanced equipment are contributing significantly to the demand for large power transformers.However, factors such as volatility of raw material prices are some of the economic restraints that the market is challenged by.By power rating, 100 MVA to 500MVA large power transformers are expected to account for the largest market...