Column: Market review
Power transformers – Market development to 2030 The global market for power transformers has continued to grow since the global crash in 2008, and furthermore...
bySteve AUBERTIN
Power transformers – Market development to 2030
The global market for power transformers has continued to grow since the global crash in 2008, and furthermore shows good potential for the ten years at least. This sector of the market should be the most stable of the whole family of transformer markets, given that power stations are planned at least ten years ahead and major grid works are five years in the planning. The transformers associated with these projects are ordered two years ahead of need when it comes to generator step-up transformers (GSU) while most transmission transformers are ordered at least one year ahead. It therefore follows that the market for these tailor-made units is highly predictable – all bar a few emergency replacements and unexpected developments.
The global installed generating capacity as shown in Table 1 has increased at between 2.1% and 4.4% per annum (p.a.) every five years between 1990 and 2015, and we conservatively expect the rate to continue at about 4.2% p.a. up to 2030.
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