Transformers market to exceed $36.7 billion by 2015

SAN JOSE, CALIFORNIA - Demand for transformers is a function of electricity demand. Booming economies in Asia-Pacific are forecast to emanate spiraling demand for electric power, as shown by Asia-Pacific sales projected to exceed $14.6 billion by 2010 alone.

Asia-Pacific represents the largest and the fastest growing transformers (electricity) market in the world, as stated by Global Industry Analysts, Inc. Distribution transformers account for major share of the global electricity transformers market. Distribution transformers market in the United States is projected to reach $2.23 billion by the year 2012. 500-10,000 Kva transformers market in Europe is likely to post a CAGR of 5.7% over the period 2001-2010.

Replacements are primarily driving growth in electricity transformer market in developed economies.

Expansion and maintenance of electric utility companies is also an important factor affecting the demand for power and distribution transformers. Operating costs or energy loss play an important role in determining transformer sales in mature markets. This is in contrast to developing markets where purchasing price is the chief determinant of transformer sales.

HTS (High Temperature Superconductors) transformers have been gaining much attention. HTS transformers are considered to offer near zero levels of electrical resistance and energy losses. However, HTS transformers currently cost much more than conventional transformers, which might restrain mass scale migrations to this technology at least in the short term.

Although European companies have been dominating the global market for transformers, companies from Japan, Korea, and India have entered the fray during the past few years and have been establishing a formidable presence in global trade. The entry of electrical giants including Kirloskar and BHEL from India and Hyundai from Korea into the international arena is expected to influence international trade in the near future. Further, competition is slated to intensify in the future with the entry of companies from Eastern Europe, China, Mexico and Brazil.

Leading global and regional players operating in the market include Areva SA, Areva T&D, Asea Brown Boveri (ABB), ABB Powertech Transformers, Bharat Heavy Electricals Limited, Crompton Greaves, EFACEC Group, Ekarat Engineering Public Company, Hammond Power Solutions, IMP Power, Kirloskar Electric Company, Kuhlman Electric, Nissin Electric, Schneider Electric, Siemens AG, Shihlin Electric & Engineering, Smit Transformatoren, Universal Power Transformer, VA Technologie AG and Waukesha Electric Systems.

Related News

china coal station

China aims to reduce coal power production

BEIJING - China plans to slash coal-fired power capacity at its five biggest utilities by as much as a third in two years by merging their assets, according to a document seen by Reuters and four sources with knowledge of the matter.

The move to shed older and less-efficient capacity is being driven by pressure to cut heavy debt levels at the utilities. China, is, however, building more coal-fired power plants and approving dozens of new mines to bolster a slowing economy.

The five utilities, which are controlled by the central government, accounted for around 44% of China’s total coal-fired power capacity…

READ MORE
net zero power grid

Can Canada actually produce enough clean electricity to power a net-zero grid by 2050?

READ MORE

$550 Million in Clean Energy Funding to Benefit More than 250 Million Americans

READ MORE

Energy Vault Lands $110M From SoftBank’s Vision Fund for Gravity Storage

READ MORE

norwegian energy

Are Norwegian energy firms ‘best in class’ for environmental management?

READ MORE