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Analysis of Outlook 2020 Global Power Transformer Market!

Analysis of Outlook 2020 Global Power Transformer Market!

Analysis of Outlook 2020 Global Power Transformer Market! 2014-04-18

According to forecasts, a number of factors emerging power plant , Economic growth and electricity demand factors will drive the global power transformer market. from 2013's $ 10.3 billion (about 62.3 billion yuan) will increase to $ 19.7 billion in 2020 (about 119.1 billion yuan), a compound annual growth rate of 9.6%.


The growth electricity demand of Chinese, India and the Middle East , become  the main driving force for the power transformer’s global market expectations.  During the 2014-2020, the global power consumption is estimated from 20248 terawatt hours to 25415 terawatt hours.


Despite the global power transformer market is highly fragmented, but in 2013 seven leading companies are still over 50% market share which ABB led the market, accounting for 12%;. Followed by TBEA, 11%; Siemens and Alstom Grid accounted 10% and 7%.


GlobalData power sector SowmyavadhanaSrinivasan senior analyst said: "The growth in global demand for electricity will promote the construction of new power plants, and the new plant will help to enhance the grid connection, thereby ensuring to meet the demand for electricity."

In addition, North America and Europe to replace, upgrade the old transformer demand has also become a major driving force market. "The UK is already lagging behind the grid, only to replace and upgrade the grid work, the state will not occur outage. Similarly, in other European countries, such as Germany, power and electronics are conducting ongoing renovations, in order to achieve a stable power supply. "


However, for the power transformer enterprises pricing pressures, rising raw material costs and the global economic slowdown will also curb future power transformer market.