Asia Pacific Power Transformer Market Growth is anticipated to grow on account of ongoing government policies toward upgradation of transmission networks and integration of smart grid infrastructure. In addition, rising proportion of renewable power across the primary energy consumption will boost the industry outlook. Ongoing technological advancement toward product design & development along with large scale expansion of clean energy technologies will positively influence the business outlook.
Get more details on this report - Request Free Sample PDF
Increasing infrastructural investments coupled with rapid development of residential establishments will fuel the Australia power transformer market growth. Ongoing expansion of electric infrastructure including transmission and distribution lines will enhance the industry outlook. In addition, refurbishment of prevailing network coupled with digitalization of power utilities will positively influence the business outlook. The government and private organizations are investing extensively toward electrification programs which will further boost the business landscape.
Growing inclination toward voltage optimization and large-scale integration of renewable resources will boost the power transformer market size. Ability to operate in harsh climatic conditions and with high voltage transmission networks will drive the product demand. Security, compact size and low cost when compared to its alternatives are the vital parameters augmenting the industry growth.
Shell type transformer is anticipated to grow on account of easy transportation, short circuit reliability and compact design. Increasing applicability in power generating stations including nuclear plants will fuel the industry size. The key features including better control of magnetic flux, thermal and mechanical performance will escalate the product adoption.
Ongoing advancements coupled with increasing concern toward decline in ohmic and core loss will drive the auto transformer market. Reducing concerns including fire hazards and appropriate cooling capability with low maintenance along with expansion of HVDC & HVAC transmission lines will boost the industry outlook.
Increasing electrification rate, grid stability and reliability has driven new investments in transmission and distribution markets which will stimulate the industry outlook. Moreover, refurbishment of existing infrastructure with new efficient components will propel the industry growth. In addition, light weight, short circuit reliability and compact designs are some of the key features which will boost the product demand.
The major players operating in the North America power transformer market includes Siemens, Bharat Heavy Electricals Limited, Mitsubishi Electric Corporation, Schneider Electric, ABB Group Ltd., General Electric Company, Eaton Corporation, Crompton Greaves Ltd., Howard Industries, Inc., Hyundai Heavy Industries Co. Ltd, Toshiba Corporation and others. The Manufacturers are launching new products and developing improved technologies to meet the competition prevailing in the industry.