Market Research Reports : Hexa Research Power Transformer Market Insights,2016-2024 | Page 2

Hexa Research Fact-based market research, penetrating industry insights and validated forecasts to help you make better decisions for a stronger future In addition, improvisations in existing power grids for enhancement of ‘energy efficiency’ and reduction of ‘losses’ may assist market demand. Conventional transformers are unsuitable for meeting technical & ecological demands. They could be substituted with bio-friendly products due to their innovative & safety features. Developed regions are witnessing growth in cross-border electricity business, incorporating wind & other renewable energies. This boosts the ‘load flow’ on aging systems, thus driving market growth. Load amplification and huge supply & transmission losses raise the demand for sub-stations. Owing to consistent power supply demand and fiscal expansion in some nations, power demand is estimated to experience a healthy CAGR in the coming years. Volatility in feedstock costs may hinder the pace of the worldwide power transformer market. The market is categorized into products and geographies. In terms of products, 100 MVA to 500 MVA output power occupied around 68 percent shares in 2015 and dominates. It was anticipated to undergo profits at nearly 6.4 percent CAGR over the next few years. This segment’s adoption across transmission & supply networks for step -up and stepdown applications increases its demand. 801 MVA to 1, 200 MVA is likely to grow at more than 5 percent CAGR from 2015 to 2022. The same can be attributed to escalating energy demand from Brazil, India, China, & other emergent countries. With respect to geographies, Asia Pacific stood worth USD 7 billion in 2015. It is expected to be lucrative till 2024. The North American power transformer market will be propelled by industrialization in the United States. Browse Related Category Market Reports @ https://www.hexaresearch.com/researchcategory/semiconductors-industry Contact: [phone] Email : [email protected] Website: http://www.hexaresearch.com/