Heavy investments are being made in R&D by the existing as well as emerging key players, which is expected to be trending since the recent past, thereby driving the growth of market for medium voltage transformers. This step by the key players is likely to initiate implementation of new facilities in regional electrification. Development of newly advanced and innovative technologies that is integrated in the emerging products will further stimulate demand for the medium voltage transformers products.
Apart from this, growing industrialization and emerging construction sectors are expected to create lucrative opportunities in the production sales of medium voltage transformers. Rising regional and multinational IT corporations along with heavy spending on IT is likely to have a positive influence on the growth of market in the forthcoming years.
A recent report anticipates that the market for medium voltage transformers will expand at a moderate 4.5% CAGR during the forecast period, 2017-2027, to reach an evaluation of over US$ 9,500Mn by the end of 2027. Companies namely Siemens AG, RITZ Instrument Transformers GmbH, MGM Transformer Company Co, CG Power and Industrial Solutions Ltd., Mitsubishi Electric Corporation, ABB Group and Koncar – Distribution and Special Transformers, Inc. amongst others will witness a notable growth globally. Prominent companies are planning to focus on marketing strategies such as product innovations and increasing their product portfolio.
Siemens AG Completes Testing Of Its Newly Developed Transformer
Siemens AG recently announced that it has completed the testing of its newly developed transformer, 1,100 kV. Key players and manufacturers must note that this new transformer has been developed for the purpose of HDVC (high voltage direct current) communication link in China. This transformer is likely to be operated by transmission grid operator SGCC (State Grid Corporation of China). Siemens AG had mentioned that the testing process was done at its Nuremberg, Germany factory with regards to load, emissions and functionality level. Development of world’s first high voltage direct current transformer for the purpose of transmission voltage of nearly ± 1,100 kilovolts by Siemens AG has enabled the company to set a standard in the direct current transmission.
Manufacturers must note that the new development helps direct current transmission above long-distances more effective for the customers due to their lower transmission losses. Apart from this, the notable point is that the newly developed transformers, 1,100 kV will be installed in Guquan converter location of high voltage direct current link.
Siemens AG Plans to Source Transformers for England-France Link
Siemens AG recently announced that it has accepted the order it received for supplying nearly four transformers for the purpose of 2000-Mv HVDC (high voltage direct current) link between UK and France. Key players and manufacturers must note that Siemens AG will be installing, delivering and commissioning four 315 MVA and 400-kV transformers meeting the terms and conditions of contract with the British grid operators National Grid. The benefit will be utilized by Sellindge converter location in England. Moreover, the new transformers will be replacing the old ones, thereby improving the reliability of system.
A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-772