Asia Pacific power transformer market to be at forefront during 2020-2026

According to the Graphical Research new market study on the Asia Pacific power transformer market, Asia Pacific region is anticipated to witness increased demand due to favorable government policies toward the adoption of renewable energy technologies and promoting low carbon emissions.

Ongoing technological advancement and digitization of transformers will positively influence the product penetration. Also, the growing inclination towards renewable integration across the power grid networks will complement the industry outlook.

Compact design, short circuit reliability and ease in transportation are some of the key parameters that will fuel the Asia Pacific shell-type power transformer demand across the region. Ability to sustain in extreme operating conditions in line with rapid deployment across critical nodes in HV transmission networks with high reliability requirements will propel the industry growth.

Pole mounted power transformer market is anticipated to witness significant adoption across limited grid accessibility to cater distant load transmission.

Ongoing government efforts to complement existing transmission and distribution networks to meet the escalating energy demand will drive the Asia Pacific power transformer business outlook. Growing urbanization, increasing electrification rate along with government subsidies across the deployment of new transmission networks will propel the business growth.

Market players profiled in the report include Siemens AG, ABB, BHEL, Toshiba, Schneider, Kirloskar Electric, Hammond Power Solutions, Voltamp, Hyundai Heavy Industries, General Electric, Crompton Greaves, and Hyosung.

Source: Graphical Research