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ME distribution transformer market worth $3.9B by 2024


 Global Market Insights has made available a new market research report on Middle East distribution transformer market for the period 2016 – 2024.

According to the report, small distribution transformer market share will witness growth with 3.9% CAGR from 2016 to 2024, reports Globe Newswire.

Liquid-filled distribution transformer market size, which was valued at over $2 billion in 2015, is likely to grow at an estimated 4% CAGR.

Features such as compactness and substantial cost optimization may catalyze the product demand through 2024.

Saudi Arabia distribution transformer market share is forecast to lead the industry, with revenue set to surpass $1.5 billion by 2024.

Key industry players profiled in the report are General Electric, ABB Group, Abaft, Alfanar, Intact and Bawan. The report also profiles Saudi Federal Transformers, Matelec, Tesar, SGB-SMIT, and Siemens.

Source: Globe Newswire