BURNABY, Canada, November 6, 2014 /PRNewswire/ --
Asia-Pacific to emerge as the major as well as fastest growing market across the globe with major contribution from China and India
According to a recently published TechSci Research report "Global Power & Distribution Transformers Market Forecast & Opportunities, 2019", global market for power & distribution transformers is projected to cross USD51.2 billion revenues in 2019. Major contribution in market revenues is expected to emanate from Asia-Pacific and North America over the forecast period. Rapid economic growth and development in developing economies like China and India are leading to significant increase in market in Asia-Pacific.
ABB Ltd., Siemens AG and Alstom Grid SAS are likely to dominate the market over the forecast period, holding over 36% share in market revenues in 2019. Major factors driving revenue growth in global market include rising global population, increasing power demand, expansion of power generation infrastructure, development in power transmission network including implementation of smart grid & super grid. Companies are also developing smart transformers featuring advanced online monitoring system for remote evaluation and detection of latent defects.
"Increasing power consumption directly impacts transformer installations across the globe. Existing as well as upcoming power projects are further creating significant demand for new installations of power and distribution transformers, particularly within developing nations in Asia-Pacific, South America and Africa. Of all the transformer types, volume sales of low power output distribution transformers currently exceeds that of power transformers." said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"Green power transformers are expected to significantly contribute towards revenue growth in power & distribution transformers market across the globe due to their rising adoption during the forecast period." added Mr. Chechi.
"Global Power & Distribution Transformer Market Forecast & Opportunities, 2019" has analyzed the potential of power & distribution transformers market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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SOURCE TechSci Research