Global power transformers industry projected to grow by $10. 6 B
Power transformers market worldwide is projected to grow by $10. 6 B, driven by a compounded growth of 5. 9%. 100 MVA - 500 MVA.
Market
Power transformers market worldwide is projected to grow by $10. 6 B, driven by a compounded growth of 5. 9%. 100 MVA – 500 MVA, one of the segments analyzed and sized in this study, displays the potential to grow at over 6.
Representing the developed world, the United States will maintain a 5 % growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over $374.5 M to the region’s size and clout in the next 5 to 6 years. Over $317.1 M worth of projected demand in the region will come from Rest of Europe markets. In Japan, 100 MVA – 500 MVA will reach a market size of $1.2 B by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 8.9 % over the next couple of years and add approximately $2.9 B in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America, and the Middle East.
Some competitors identified in this market include, among others: ABB Limited, GE Grid Solutions, Siemens AG, Hyundai Electric & Energy Systems Co., Ltd., DAIHEN Corporation, Wilson Transformer Company, and Mitsubishi Electric Corporation.
Source: Globe Newswire