Future growth aspects of Potential transformer industry and challenges: Ken Research

Global Potential transformer Industry deals with the designing, manufacturing and production of electrical device used for transferring electrical energy between two or more circuits through electromagnetic induction is known as transformer. Transformers are generally used in applications which involve the conversion of AC(alternating current) voltage from one voltage level to another. Medium voltage transformer is a static electrical device that transfers electrical energy by inductive coupling between its core winding. Transformers are used either to vary the relative voltage of the circuits or to isolate them or both. These transformers are usually used for power distribution for residential areas and for industrial and commercial purposes

According to Ken Research report “Global Potential transformer Industry Situation and Prospects Research report 2017” , The global potential transformers market is expected to expand at a promising CAGR during the forecast period (2015-2025). The main reason for such growth is due to the changing environment of the global world that has led to the increased demand in the potential transformers. The developed countries remain dominant in the league of market revenue and in the developing nations there is a chance of substantial growth as these countries are on the verge of rapid urbanization and quick housing infrastructure in order to eradicate poverty and thus to supports these measures ,requirement of potential transformers are on the peak. Since rising urbanization in developing countries led to an increase in the demand for power generation and transmission, transmission expansion to integrate renewable energy resources, new capacity addition in thermal and nuclear power generation are some of the key factors driving the growth of the global medium voltage transformers market.

The major challenges that this industry might face is the price vacillation ,maintenance and aging costs, compliance with specifications, quality and testing

Key Players

The key players in the global potential transformers market are Siemens, GE Grid Solutions, ABB, SNC Manufacturing, Toshiba, Schneider Electric, Arteche, KONCAR, Pfiffner, Emek, Dalian Beifang, XD Group

Conclusion

Market research firm, Ken Research says, the growth in global potential transformers market is due to the increased urbanization and rapid growth of infrastructure which has led to demand of increased demand of generation and transmission of energy and the market needs to look upon factor such as price fluctuation, testing and specification congruence which can possibly limit the growth.

Topics Covered in The Report