Analysis of Current Global Transformer Market Development

Analysis of Current Global Transformer Market Development

It is predicted that the expansion of power generation in emerging countries, economic growth, and electricity demand will drive the global power transformer market, which will increase from 10.3 billion U.S. dollars (about 62.3 billion yuan) in 2013 to 19.7 billion U.S. dollars in 2020 ( About RMB 119.1 billion), the compound annual growth rate reached 9.6%.

The growth of electricity demand in China, India and the Middle East has become the main growth driver for the growth of the global power transformer market. During 2013-2020, global electricity consumption is expected to increase from 20,248 TWh to 25,415 TWh.

Although the global power transformer market is highly fragmented, the market share of 7 leading companies still exceeds 50% in 2012. Among them, ABB leads the market, accounting for 12%; followed by TBEA, accounting for 11%; Siemens and Alstom Networks respectively account for 10% and 7%.

Sowmyavadhana Srinivasan, Senior Analyst for Power Data at GlobalData, said: “The increase in global power demand will drive the construction of new power plants, and the new power plants will help increase grid connectivity to ensure that electricity needs are met.”

In addition, the demand for replacing and upgrading old transformers in North America and Europe has also become a major driver of the market. “The UK power grid is already lagging behind, and only when the power grid is replaced and upgraded, the country will not experience a power outage. Similarly, in other European countries, such as Germany, the grid and electronics are undergoing continuous renovations to achieve grid stability. Supply," said Srinivasan.

However, pricing pressures, rising raw material costs, and global economic slowdown will inhibit the future power transformer market for power transformer companies.

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