Power Transformer Market in Asia-Pacific is Flourishing at 8.1% CAGR with Growth Drivers by 2017-2023

To meet the growth in demand for electricity, widening of transmission networks is taking place. These factors are expected to contribute significantly to the growth of the Asia-Pacific power transformer market.

Asia-Pacific Power Transformer Market by Country: Opportunity Analysis and Industry Forecast, 2017-2023, the Asia-Pacific power transformer market was valued at $5,210 million in 2016, and is projected to reach at $8,990 million by 2023, registering a CAGR of 8.1% from 2017 to 2023.

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Power transformers, critical part of power infrastructure, are expected to witness significant growth in the coming years. This is due to the demand for electricity throughout the Asia-Pacific is on a consistent increase. Moreover, the region is moving toward green energy as there is an increase in utilization of renewable and non-conventional energy resources, such as wind, solar, and hydel energy. To meet the growth in demand for electricity, widening of transmission networks is taking place. These factors are expected to contribute significantly to the growth of the Asia-Pacific power transformer market.

Some of the restraints associated with the Asia-Pacific power transformer market are high price of power transformers as well as associated costs, such as land, infrastructure, logistics, and protective instruments. Also, there is lack of consistent demand for high rating segment of power transformers. These costs can be mitigated with lenient government regulations and innovations in manufacturing of power transformers.

Based on country, the market is analyzed across China, Japan, India, South Korea, Australia, Indonesia, Vietnam, Malaysia, Myanmar, Hong Kong, Macau, Thailand, and rest of Asia-Pacific. China was the highest revenue contributor, valued at $1,532 million in 2016. This country is further expected to attain a market value of $2,534 million by 2023, growing at a CAGR of 7.5%. Moreover, China is expected to maintain its dominant position during the forecast period. India and Thailand are the second and third leading country for Asia-Pacific power transformer market, respectively.

In 2016, the China accounted for the highest share, and is expected to maintain its dominance during the forecast period, owing to the enhancement of grid infrastructure, and increasing investments for installation of renewable energy-based power projects in the country.

China and India collectively contributed more than 45% to the market revenue in 2016. In the same year, Japan contributed approximately one-eighth of the market share.

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The prominent players profiled in this report include ASEA Brown Boveri Group, Crompton Greaves Ltd., General Electric Company, Siemens AG, Schneider Electric SA, Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, Tebian Electric Apparatus, Bharat Heavy Electricals Limited, and Toshiba Corporation.

Research objectives:-

  • To study and analyze the Asia-Pacific Power Transformer Market consumption (value & volume) by key regions/countries, and forecast to 2027.
  • To understand the structure of the Asia-Pacific Power Transformer market by identifying its various sub-segments.
  • To analyze Asia-Pacific Power Transformer Market with respect to individual growth trends, future prospects, and their contribution to the total market.
  • To share detailed information about the key factors influencing the growth of the market.

Reasons for Buying this Report:

  • Complete analysis on market dynamics, market status and competitive Organic Chicken view is offered.
  • Forecast Global Organic Chicken Industry trends will present the market drivers, constraints and growth opportunities.
  • The five-year forecast view shows how the market is expected to grow in coming years.
  • All vital Global Organic Chicken Industry verticals are presented in this study like Product Type, Applications and Geographical Regions.

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