StatPlan Energy forecasts CAGR of 5.3% for global transformer market to 2020
United Kingdom, Devon: StatPlan has published new report 'The Global Market for Transformers 2014 - 2050' highlighting total installed base of power transformer units to increase by 57,000 between 2015 and 2020, and the installed base of distribution transformer units to increase by 9.6 million in the same period.
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United Kingdom, Devon: StatPlan has published new report ‘The Global Market for Transformers 2014 – 2050’ highlighting total installed base of power transformer units to increase by 57,000 between 2015 and 2020, and the installed base of distribution transformer units to increase by 9.6 million in the same period.
A new report ‘The Global Market for Transformers 2014- 2050’ forecasts steady global growth between 2015 and 2020, with the installed base of power transformers likely to increase by 16.4% and the installed base of distribution transformers to increase by 6.8%.
During the same period, StatPlan forecasts that global generating capacity will increase from 5.9 million MW to 6.6 million MW.
The total power and distribution transformer market is estimated at $35.0 billion in 2014 and will rise to $47.9 billion in 2020 at current values representing a cagr of 5.3%.
“But fortunes within the total, global market vary dramatically once we start looking at the split between power transformers (PT) and distribution transformers (DT) and then by region.” says StatPlan director David Dower.
“In terms of installed base, the most significant growth will be in Asia for PT and Sub-Saharan Africa for DT, both of these markets will show a growth in the installed base of more than20% from 2015 to 2020. Other regional markets will also show double digit growth over that time and we will be following the Middle East in both PT and DT demand with interest.”
Future demand for transformers is shaped by a range of factors. Most significant of these is the importance of the replacement segment which in some parts of the world is already more important than “new build”. To understand the impact of this, it is vital to know when transformers were installed and their likely useful life span (which varies according to type). Power and distribution transformers last for a long time and the demand cycle extends over many decades but they do require replacement in the end.
Source: StatPlan
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