Oct 20, 2017

The Power Transformers market will surpass $15.41 billion by 2021 latest global market study report by Global Data. The growing energy demand leads to expansion of utility and that leads to increase the power transformer market size. In 2016, the market value of Asia-Pacific region at $7.88 billion and by 2021 it is estimated to reach $8.34 billion. It is followed by EMEA (Europe, Middle East, and Africa) and the Americas registering $3.77 billion and $2.52 billion, respectively. It is estimated that large transmission and distribution (T&D) investment will be made across the globe during and beyond the forecast period in order to accommodate the dynamic requirements of the future grid.

China to Continue to Lead the Power Transformers Market amid the Forecast Period with its plans to extend its ultra-high voltage (UHV) transmission grid and local connectivity, China topped the worldwide power transformers market in 2016 with a market estimation of $2,980.7m. Chinese government reforms subject to the establishment of a sustainable electricity infrastructure will positively influence the business growth. Rapid industrial expansion across the nation to cater volume manufacturing practices by industry participants will positively stimulate the product demand. China represented over 20% of the global power transformers market in 2016.

China is the world pioneer in UHV transmission system to its huge speculations to create transmission frameworks of voltage level 765kV or more. In 2016, 110kVwas the biggest Contributor of the market, trailed by the 500kV segment. By 2021, the market estimation of China is to reach $3,221m. The market is driven by developing force request and improvement of UHV transmission frameworks.

United States, ongoing investment toward refurbishment of existing electricity infrastructure and expansion of infrastructure will create demand for the power transformers. Hence, the United States power transformers market is expected to grow. In 2017, regulators across the U.S. proposed a funding to strengthen electricity infrastructure across the rail networks in California.
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