DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4vqpn9/power) has announced the addition of the "Power Transformers Market for Power Industry, 2013 Update - Global Market Size, Equipment Market Share, Key Country Analysis to 2020" report to their offering.
Global Power Transformer Market Expected to Grow Considerably
The value of the global power transformer market amounted to an estimated $10.3 billion in 2013. In the emerging economies of Asia-Pacific and the Middle East, extensive power plant capacity additions, economic growth, and the need to improve access to electricity are driving grid expansion and the power transformer market. There have been comparatively few new power transformer installations in North America and Europe.
However, with 70% of power transformers in North America being more than 25 years old, the replacement market provides major opportunities for power transformer companies. Similarly, many developed European countries have aged transmission grid systems such as the UK, where the grid is in high danger of collapsing.
The EU is also planning to strengthen individual country power grids and establish a pan-European grid, which would involve substantial investment in power transformers. Supported by these strong drivers, the size of the global power transformer market is expected to increase from $10.3 billion in 2013 to $19.7 billion in 2020.
China and India, Key Market for Transformers
China and India accounted for 40% of global capacity additions in 2013. The substantial Transmission and Distribution (T&D) investment in these countries is the major driver for growth. China and India's share in global capacity addition is expected to be 35% by 2020. However, with other developing countries increasing China and India's installed capacity share is expected to come down during the forecast period.
In China, focus has been placed on increasing power installed capacity in order to meet the growing electricity demand. However, investment in the transmission segment has not increased at the same pace. This changed in the 11th and 12th Five-Year Plan (FYP), wherein heavy investment for the strengthening of the grid has been planned.
The Indian Planning Commission has plans to achieve an installation of 100 Gigawatt of additional capacity under the country's 12th FYP which applies to the period from 2012 to 2017. This will necessitate substantial investment in the transmission network, which will drive the power transformer market. The India government also plans to expand the grid to provide improved access and availability of electricity to all parts of the country.
Key Topics Covered:
1.1 List of Tables
1.2 List of Figures
3 Global, Power Transformer Market
4 Global, Power Transformer Market, Key Country Analysis
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