Power transformers are used to connect electrical networks of different range voltages. They enable an exchange of power between these networks. Power transformers have a wide range of applications across various industries such as chemical plants, mining, etc. The market is driven by increasing power consumption, favourable government regulations and evolving technologies in developed countries. However, the volatile price of raw materials significantly hinders the adoption of power transformers. There is a growing demand for renewable and environmentally friendly energy sources. This greatly boosts the global power transformer market. Increasing energy consumption and the energy crisis in developing economies has brought the very efficient power transformers to the forefront in countries such as China, India, Brazil, Canada and Germany. The key players profiled in the report are ABB Ltd, BHEL, Alstom SA, Toshiba Corp., Mitsubishi Electric Corp., and Siemens Energy.
