The Transformer Manufacturing Market Is Valued At Over USD 47 Billion In 2017
Posted by praneeth on June 29th, 2018
The transformers manufacturing market consists of establishments engaged in the manufacturing of power, distribution and specialty transformers. Electrical transformers are static electrical devices that transform electrical power from one circuit to another circuit without changing the frequency. Transformers increase or decrease voltage and current level, increase or decrease capacitor value, prevent direct current from passing between two circuits and isolate circuits. Power lines and distribution transformers are used to increase or decrease voltages. Industrial and household transformers differ in terms of voltage such as step up and step down transformers. Some equipment manufactured by these establishments in this industry includes fluorescent ballasts, distribution transformers, substation transformers, transmission and distribution voltage regulators and electric power distribution.
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The global transformer manufacturing market is valued at over USD 47 billion in 2017.
The market can be easily split into low rated transformer, medium rated transformer and high rated transformer. Out of these, low rated transformer comprises of seven-tenth of the market share and rest of the market is shared by medium rated transformer and high rated transformer.
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Asia Pacific was the largest region in the transformer manufacturing market in 2017, accounting for more than two-fifth of the market share. This is due to high demand for industrial transformers from a large manufacturing base in China and India.
China was the largest country in the transformer manufacturing market in 2017, accounting for one-fifth of the market share. China is followed by USA and Japan.
The top five competitors in the market in 2017 are General Electric Corporation followed by ABB Ltd, Schneider Electric, Mitsubishi Electric Corporation, and Toshiba. General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments.
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About the Authorpraneeth
Joined: June 6th, 2018
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