Middle East Distribution Transformer Market to be worth $3.59B by 2022
USA, San Francisco: According to a new study by Grand View Research, Inc., the Middle East distribution transformer market is expected to reach $3.59 billion by 2022.
USA, San Francisco: According to a new study by Grand View Research, Inc., the Middle East distribution transformer market is expected to reach $3.59 billion by 2022.
According to the report, medium transformers market accounted for over 40% of the overall revenue share in 2014, and the segment is expected to witness significant growth over the next few years, reports EconoTimes.
Small transformers segment is estimated to witness growth owing to high demand for stepping voltages down within a distribution circuit of a building or to supply power to equipment, while large transformers segment is anticipated to exhibit moderate growth over the next seven years, on account of unmatched high efficiency and the ability to operate at low power frequencies.
Saudi Arabia distribution transformers market emerged as the dominant regional segment and accounted for more than 35% of the overall revenue in 2014.
Key players profiled in the report include ABB, Abaft Middle East, Alstom, General Electric, Siemens, Bawan and Alfanar Electrical Systems.
Source: EconoTimes
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