Due to Increasing Demand in Electrical Segment Converter Transformer Market Reach to a CAGR of 18.2%


Posted December 18, 2018 by Akshaymehta0202

The report “Converter Transformer Market by Configuration (Back-to-Back, Monopolar, Bipolar, and Multi-terminal), Voltage level, Application , Power rating, and by Region - Global trends and forecast to 2020’’

 
The report “Converter Transformer Market by Configuration (Back-to-Back, Monopolar, Bipolar, and Multi-terminal), Voltage level, Application (Windfarms, Oil & Gas, and Grid interconnections), Power rating, and by Region - Global trends and forecast to 2020’’ defines ,segments analyses and forecasts the global Converter transformer market. It also identifies driving and restraining factors for the converter transformer market, with an analysis of trends, opportunities, and challenges.
The leading players of the market such as ABB Ltd. (Switzerland), General Electric (U.S.), Siemens (Germany), and Crompton Greaves (India) among others have been profiled in this report.
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Scope of the Report:
On the basis of application: The report considers different applications of converter such as grid interconnections, which occupy around two-thirds of the total market, windfarms, and oil & gas industry.
On the basis of configuration: Under this segmentation, the report considers various configurations of the converter substation such as monopolar, bipolar, back-to-back, and multi-terminal converter transformers.
On the basis of voltage level: Up to 200 kV, 201–400 kV, 401–600 kV, 601–800 kV, and 800+ kV voltage level ranges have been considered in this segment.
On the basis of power rating: Under this segmentation, the report considers various power rating ranges such as below 500 MW, 501–999 MW, 1001–2000 MW, and above 2000 converter transformers.
On the basis of region: The regions analyzed in the report include Asia-Pacific, Americas comprising of both North America and South America, and Europe.
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Grid interconnections – Major application for the Converter transformer market
Converter transformer market, on the basis of application, is categorized into three primary segments: Grid interconnections, windfarms, and oil & gas. Grid interconnection application held around two-third of the total market for Converter transformer in 2014. Windfarms application is estimated to be the fastest growing application market for Converter transformer between 2015 and 2020. The key driver for the market is the increasing focus on renewable energy generation especially the offshore wind energy.
Also, energy generation from renewable sources such as offshore wind farms, hydel plants, and remotely located solar panels is expected to witness an exponential growth rate in the next decade. With continued high investments in HVDC transmission technology, the market for Converter transformers is expected to grow at a fast pace. The Converter transformer market is estimated to reach USD 2,136.1 Million at a high CAGR of 18.2% from 2015 to 2020.
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Grid interconnections application has held the major share within Converter transformer market in 2014. It is expected to continue its dominance till 2020 on account of high growth expectations in the next half a decade. Windfarms application is expected to achieve the highest growth rate within the Converter transformer market. Increased focus on renewable energy sector, particularly wind energy generation, is a prime factor driving the market for this application.
Asia–Pacific held the largest share in the converter transformer market in 2014. It is also expected to be the fastest growing market at a CAGR of 19.7% from 2015 to 2020. Europe is expected to be the second fastest growing market, at a CAGR of 18.2% during the forecast period. Upgrade of ageing power sector is the expected to be a key factor for growth in the European region.
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Issued By Akshay
Country India
Categories Business
Last Updated December 18, 2018