San Francisco, California (PRWEB) June 03, 2014
The global power transformers market is expected to reach USD 18.55 billion by 2020, according to a new study by Grand View Research, Inc. Growing energy demand, on a global level, is expected to be the key driving force for the power transformers market over the next six years. Favorable regulatory scenario for the development of low noise and environmentally friendly transformers is also expected to drive the market over the forecast period.
Increasing investment in power plant infrastructure in developing markets of Asia Pacific is expected to boost regional demand. The market in North America and Europe is expected to primarily be driven by need for replacing aging equipment. Smart grid and super grid development initiatives are expected to be a considerable opportunity for market participants. Volatility in prices of key raw materials such as steel and copper is expected to be a barrier for industry growth.
The report “Power Transformers Market Analysis By Product (100 MVA to 500 MVA, 501 MVA to 800 MVA, 801 MVA to 1200 MVA) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/power-transformers-market.
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global power transformers market on the basis of product and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
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