- The key vendors in the Global Power Transformer Market 2015-2019 are ABB Ltd., Alstom SA, GE Co. and Siemens AG
London, 25 March 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Power Transformer Market 2015-2019. The decline in prices of raw materials is expected to lower the prices of power transformers, which is a key trend in the market. Dipping prices of the raw materials is expected to lead to reduced manufacturing costs, which will ease the burden on end-users such as the Utilities, Industrial, and Commercial sectors. The Global Power Transformer Market is expected to grow at a moderate rate of 6.34% during the period of 2015-2019.
The demand for power transformers is primarily driven by the APAC and the Middle East. Growing populations and economic growth in these regions has led to the setting up of new grid networks.
“Most countries are moving away from conventional sources of power generation, such as thermal and nuclear, to renewable power sources, such as wind, tide, biomass, and solar,” says Faisal Ghaus, Vice President of Technavio Research.
“By 2020, renewable electricity production is expected to account for more than a quarter of the global total production of electricity.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
