With $100B investment, SA is one of key transformer markets
Research and consulting firm GlobalData predicts the global transformers market will be worth $14 billion by 2020, up from $11.3 billion in 2014, driven by extensive power plant capacity additions, economic growth, and the need to improve access to electricity in emerging economies, such as Asia-Pacific and the Middle East, Utilities-me reports.
Research and consulting firm GlobalData predicts the global transformers market will be worth $14 billion by 2020, up from $11.3 billion in 2014, driven by extensive power plant capacity additions, economic growth, and the need to improve access to electricity in emerging economies, such as Asia-Pacific and the Middle East, Utilities-me reports.
According to the report, the value of the global power transformers market will rise by over 20 % by 2020 thanks to a demand in a number of key markets including Saudi Arabia.
Siddhartha Raina, GlobalData’s Senior Analyst covering Power says: “Saudi Arabia is planning large-scale investment, amounting to a total of around $100 billion, which is to be spent within the next 10 years on doubling domestic power generation from the current level of 40,000 MW to 80,000 Megawatts (MW),” as already reported by Transformers Magazine.
The report identifies and discusses nine major markets of the US, China, India, Saudi Arabia, Brazil, Japan, Germany, Canada and the UK.
Source: Utilities-me
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