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2018

Asia-Pacific Power Transformer (<100 MVA) Market

Asia-Pacific Power Transformer (<100 MVA) Market Size, Share, Competitive Landscape and Trend Analysis Report by Country - Opportunity Analysis and Industry Forecast, 2017-2023

EP : Storage and Distribution

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Author's: Ashmita Roy | Eswara Prasad
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Asia-Pacific Power Transformer (<100 MVA) Market Overview:

Asia-Pacific Power Transformer (<100 MVA) Market was valued at $5,210 million in 2016, and is projected to reach $8,990 million by 2023, registering a CAGR of 8.1% from 2017 to 2023. Power transformers is one of the basic components involved in power transmission system for insulation, reduction of electricity losses, and heat dispersion. Asia-Pacific is estimated to significantly contribute to the growth of the power transformer (<100 MVA) market. The Asia-Pacific power transformer (<100 MVA) market is expected to grow at a steady and significant pace, owing to increase in demand for electricity especially in densely populated countries such as India and China, enhancement of grid infrastructure, and increasing investments for installation of renewable energy-based power projects.

Asia-Pacific Power Transformer (<100 MVA) Market

Upsurge in demand for electricity, need for upgrade of transmission networks, demand for smart grids, and increase in share of electricity generated from renewable and non-conventional energy resources drive the market. Along with these factors, the market is influenced by the strict government regulations to maintain product standards, high cost of power transformers, and technological barriers. The above-mentioned factors collectively create opportunities for the market growth, while factors such as high price of power transformers restrain the growth. However, each factor would have its definite impact on the market during the forecast period.

The Asia-Pacific power transformer (<100 MVA) market is segmented based on country such as China, Japan, India, South Korea, Australia, Indonesia, Vietnam, Malaysia, Myanmar, Hong Kong, Macau, Thailand, and rest of Asia-Pacific.

Asia-Pacific Power Transformer (<100 MVA) Market by Country

China dominates Asia-Pacific power transformer (<100 MVA) market and is expected to maintain its dominance throughout the forecast period. This is attributed to the high demand for power transformer (<100 MVA) in the power transmission sector in this region. China holds the largest power generation capacity, followed by the U.S., thus making it a lucrative region for market players to expand their market foothold; thereby, driving the growth for the power transformer (<100 MVA) market in China.

Top Investment Pockets

Australia is projected to be the most attractive power transformer (<100 MVA) market during the forecast period owing to the increased electricity demand from Western and Northern Australia. The electricity demand in the mentioned regions of the country grew by 8% and 5% respectively in 2013-2014, and the industry experts predicts the trend to be similar in coming five years.

Power transformer (<100 MVA) in Australia is projected to be driven by the continuous development in off-grid generation, particularly to support the mining sector. Constant rise in the energy needs has triggered 133 power generation projects by the Australian Government since 2015 till 2020.
Experts also project that in the coming ten years, Australia is expected to witness the exhaustion of numerous fossil fuel power stations, thereby forcing the country to look for different energy supply mix.

India Review

India offers lucrative opportunities for new entrants in the power transformer (<100 MVA) market. This is attributed to the increase in demand for electricity, growth in GDP of the country, and improvement & enhancement in the grid infrastructure of the country to increase the rate of electrification. This ultimately leads to increase in the demand for power transformer (<100 MVA) in the sectors. In addition, rapid urbanization and industrialization in the country has boosted the demand for electricity consumption, contributing largely to the growth of power transformer (<100 MVA). Therefore, growth in expansion of electricity networks propels the upgrade and installation of transformers, which in turn drives the growth of the Indian power transformer (<100 MVA) market.

The key players profiled in the 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. The other key players in the value chain (not profiled in this report) include Alstrom SA, China XD Electric, Kirloskar Electric Company, Bharat Bijlee, Voltamp Transformers.

Key Benefits for Stakeholders

  • The report provides an in-depth analysis of the current trends, drivers, and dynamics of the Asia-Pacific power transformer (<100 MVA) market to elucidate the prevailing opportunities and tap the investment pockets.
  • It offers qualitative trends and quantitative analysis of the Asia-Pacific market from 2016 to 2023 to assist stakeholders to understand the market scenario.
  • In-depth analysis of the key segments demonstrates the market potential of the power transformer industry.
  • Competitive intelligence of the industry highlights the business practices followed by key players across the region and prevailing market opportunities.
  • Key market players and their strategies & developments are profiled to understand the competitive outlook of the market.

Asia-Pacific Power Transformer (<100 MVA) Market Report Highlights

Aspects Details
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By Country
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Vietnam
    • Malaysia
    • Myanmar
    • Hong Kong
    • Macau
    • Thailand
    • Rest of Asia-Pacific
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Key Market Players

Hyundai Heavy Industries Co. Ltd., Schneider Electric S.E., General Electric Company, Toshiba Corporation, Bharat Heavy Electriclas Limited, Siemens AG, Mitsubishi Electric Corporation, CG Power and Industrial Solutions Limited, ABB Ltd., Tebian Electric Apparatus Stock Co.Ltd.

Analyst Review

The growth in globalization has caused an upsurge in the demand for electricity and major investments have been witnessed in the infrastructural set ups for power transformers. Low rating power transformers have excelled in this market with wide utilization in high voltage DC (HVDC) and high voltage AC (HVAC) transmission systems. Medium and high rating power transformers have majorly been utilized in high & ultra-high voltage power transmissions. Upgradation of transmission network have resulted in reducing the variable effects of transmission losses and has improved wide bands of electricity coverages. Adoption of smart grid technologies have facilitated the remote access monitoring of grid instruments by reducing the response period of fluctuating power supply. C02 emissions coupled with ecological measures have favored the maximum utilization of renewable & non-renewable energies with diversity in power transmission network. Underwater & underground power transformer installations benefit from geothermal and tidal power plants. In addition, highly efficient transmission lines against conventional lines have maximized the scope of energy saving and have induced economical expenses.

The Asia-Pacific power transformer (<100 MVA) market holds a substantial scope for growth. Demand for electricity, advancements in transmission lines as well as replacement of old units provide growth opportunities for this market. High cost is a major limitation for purchasing and installation of power transformers. However, no power system is complete without power transformers, and hence a lot of governments provide subsidies in various forms. Most of this market is grabbed by low rating power transformers because of their utilization in widely used medium and high-voltage transmission networks. The power transformer market is dominated by few key players. However, increase in electricity demand provides sufficient incentives for new players once they overcome the technological barriers.

Author Name(s) : Ashmita Roy | Eswara Prasad

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Asia-Pacific Power Transformer (<100 MVA) Market