The Gas Insulated Transformers Market Set to Grow to $5.5 Bn by 2029

As the world gradually, but perceptibly, transitions from finite fossil fuel power generation toward renewable and sustainable forms of electricity supply, further pressure is placed on electrical grids. A Power Transformer is a static piece of apparatus with two or more windings which, by electromagnetic induction, transforms a system of alternating voltage and current into another system of voltage and current usually of different values and at the same frequency for the purpose of transmitting electrical power. The gas-insulated Transformers market is mainly driven by its efficiency compared to other insulation methods and lower carbon footprint.

The report analyst commented "The Power Transformers market is expected to witness a reasonable level of growth due to the continuous commitment of nations to expand their transmission and distribution networks and transition into low-carbon economies. This is forced by the efforts of governments to establish more efficient and reliable networks and decentralise the supply of electricity which will boost demand for power transformers and in particular gas-insulated transformers. Increasing measures by governments worldwide to develop efficient and reliable electrification will do nothing but have a positive impact upon power transformers and due to gas-insulated transformers’ reliability and recyclability, Visiongain assesses that the market for this technology will continually grow throughout the forecasted period."

Leading companies featured in the report who are developing power transformer technology include ABB Ltd., Arteche, Fuji Electric Co. Ltd., general Electric, Hitachi Ltd., Hyundai Heavy Industries, Mitsubishi Heavy Industries, Nissin Electric Co. Ltd., Siemens AG and Toshiba International Corporation

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Source: ASDReports - Market Research
Date: Nov 14, 2018