Power Transformer Market share research by applications and regions for 2017 – 2024

1. Power Transformer Market share research by applications and regions for 2017 – 2024

2. Global Market Scenario of Furfural Industry • Economic growth, demand for power and the need to efficiently integrate renewable power generation is anticipated to drive the power transformer market over the forecast period. Pressure on transmission systems have caused in longer lines and higher currents and voltages, has raised the demand for higher rated and more efficient power transformers across the globe. Moreover, developments majorly focusing on the major components such as windings, core, insulation and cooling systems is expected to propel the power transformer market size over the future. For instance, power transformers make use of grain orientated steel materials for the core. Recent developments in the market have led to the increased usage of even thinner material thickness to reduce losses. • Furthermore, rising demand for smart transformers to address the increasing demand for electricity across the globe offers significant growth prospects to the power transformer market share. These devices are an essential part of the smart grid and offer regulated power supply with frequent feedback and monitoring for outage prevention. Moreover, they improve efficiency of grids coupled with reduction in electricity wastage.

3. Continue… • Fluctuations in the prices of components used in transformers may negatively impact the power transformer market size. In addition, standardization issues and high capital cost involved in transforming the traditional infrastructure owing to the growing industrialization and modernizations may impose challenges to the industry. Technology upgrades are not easily attainable owing to the lack of skilled manpower shortage, adequate testing facilities, and uncertainty in government norms and standards, which may hinder the power transformer market. • Reasons to Buy This Report: • 1. Power Transformer Market size & share forecast by product & application, 2015-2022 • 2. Growth drivers, pitfalls & industry challenges • 3. Power Transformer Market growth opportunities & emerging business models • 4. Competitive benchmarking with market share analysis and company profiles • Small power transformer market share dominated the global revenue with over 68% in 2014 owing to the low installation cost and high demand across utility and healthcare sectors. The manufacturing and procurement of large power transformers is an intricate process, which includes large manufacturers, the purchase of raw materials, a competitive bidding process, and exclusive modes of transportation owing to its weight and size. In addition, the breakdown of a solitary unit of a large transformer can cause temporary service disruption and lead to collateral damage.

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