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Favorable government regulations for production of green energy and
power are also expected to fuel the growth of the power transformers
market over the forecast period. Global environmental concerns
highlight the need for lower emissions and water conservation in both
existing and new power plants. As a result, leading companies such as
Alstom have developed and introduced green transformers for
environmentally delicate zones. Similarly, Crompton Greaves Ltd.
designed, produced, and installed extremely low noise power
transformers for environmentally critical regions. Such innovative
and environmentally friendly products are expected to witness strong
demand in the future due to rising environmental concerns. Therefore,
the degree of competition is analyzed to grow from medium to high
over the forecast period.
Based on the geographical segmentation of the global large power
transformers market, Asia Pacific region occupied the largest market
share in 2013, which can be attributed to rising energy demands
coupled with technological advancements in this region. The Asia
Pacific region is expected to account for majority of the global
growth over the forecast period. However, this region has a large
unorganised sector and the market in this region is highly fragmented
with the presence of many local players. Rest of the World economies
such as the Middle East and Africa are expected to steadily expand
their power infrastructures, attracting intense competition from
global as well as regional market players. Mature economies in North
America and Europe regions are expected to observe steady growth
owing to the various modernization and upgradation initiatives. The
countries in these regions are undertaking such initiatives to boost
the power generation in order to meet rising demands.
The global large power transformers market has been segmented by
power rating into 100 MVA to 500 MVA large power transformers, 501
MVA to 800 MVA large power transformers, and 801 MVA to 1200 MVA
large power transformers. Large power transformers between the power
ratings range of 100 MVA and 500 MVA are expected to exhibit the
fastest growth until 2019, with an estimated CAGR of 8.0% in terms of
revenue from 2013 to 2019. This growth is attributed to the fact that
lower rating transformers are the most widely used by utilities
around the globe.
High Voltage Direct Current (HVDC) transformers fall under the 501
MVA to 800 MVA large power transformers segment. HVDC transformers
are either built as single-phase or three-phase
units, depending on voltage, power and transportation considerations.
The 501 MVA to 800 MVA large power transformers segment is expected
to witness a steady growth in the next six years. Furthermore, the
large 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 on account of rising
energy demands in these regions over the forecast period.
Moreover, the key industry players have been profiled on the basis of
company overview, financial overview, business strategies, SWOT
analysis and recent developments in the field of large power
transformers. The key industry participants ABB Ltd., Alstom SA,
Crompton Greaves Ltd., Siemens AG, General Electric Co, Hyosung Power
& Industrial Systems Performance Group, Hyundai Heavy Industries
Ltd. and TBEA Co. Ltd. among others.
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