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Large power transformers market to reach $31B in 2020


 USA, New York: A new market research study “Large Power Transformers Market - Global Industry Analysis and Forecast 2014-2020” is now available.

According to the report, the large power transformer market is expected to reach $31.05 billion in 2020, reports Release Wire.

Asia Pacific and ROW economies are expected to be the most attractive and fastest growing regions, while increasing industrialization and modernization is enhancing the demand for large power transformers globally.

Most widely used large power transformers globally are of the rating 100 MVA to 500 MVA, and they are expected to constantly dominate the market during the forecast period.

Power transformers between the power ratings of 801 MVA and 1200 MVA are expected to be used for HVDC and UHVDC power generation in the Asia Pacific and Middle East regions due to rising energy demands in these regions in the near future.

The key companies profiled in the report include ABB Ltd., Alstom SA, Crompton Greaves Ltd., Siemens AG, GE Co, Hyosung Power & Industrial Systems Performance Group, Hyundai Heavy Industries Co. Ltd., and TBEA Co. Ltd. among others.

Source: Release Wire