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GDPE1042MAR / Published MAY 2012 Power Transformers - Global Market Size, Average Pricing and

Competitive Landscape Analysis to 2020 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form

Power Transformers - Global Market Size, Average Pricing and Competitive Landscape Analysis to 2020

Reference Code: GDPE1042MAR Publication Date: May 2012

Global Power Transformer Market Expected to Grow Considerably in Future

The global power transformer market revenues reached $XX in 2011. The transmission networks all over the world are getting much-needed attention from utilities. Asia-Pacific and the Middle East are the main regions which are driving the growth of the market. Rising populations and economic growth in these regions are leading to substantial investments in grid expansion and strengthening.

New power transformers installations in North America and Europe are comparatively lower. However, with XX% of power transformers in these regions being more than XX years old, the replacement market provides big opportunities for power transformer companies. Supported by strong drivers, the global power transformer market is expected to reach $XXm in 2020.

Global Power Transformer Market, Market Size, $m, 2011-2020

2011 2020

Rev

enue

s ($

m)

Source: GlobalData

China and India, Key Markets for Power Transformers

China and India accounted for XX% of the global revenues in 2011. Massive transmission and distribution (T&D) investments in these countries are a major driver for the global market. The share of China and India in the global transformers market revenues is expected to increase to XX% by 2020.

Previously in China, the focus has been on increasing the power installed capacities to meet the growing electricity demand there, which lead to under-investment in grid networks, making them weak. However, this will change in the forecast period with the transmission sector getting much-needed investment. India has plans to add XX MW (Megawatts) of installed capacity in the country’s XXth Five Year Plan (2012-2017) which will necessitate a large amount of investment in the transmission network, thus driving the power transformer market.

Power Transformer Market, India and China Market Share, %, 2011-2020

2011

India & China

Others

2020

India & China

Others

Source: GlobalData

GDPE1042MAR / Published MAY 2012 Page 3 Power Transformers - Global Market Size, Average Pricing and


1 Table of Contents 1 Table of Contents ............................................................................................................................ 3

1.1 List of Tables............................................................................................................................. 5 1.2 List of Figures............................................................................................................................ 6

2 Introduction ..................................................................................................................................... 7 2.1 Power Transformer, Overview.................................................................................................... 7 2.2 GlobalData Report Guidance ..................................................................................................... 7

3 Global Transformer Market .............................................................................................................. 8 3.1 Global Transformer Market, Volume Split between Power and Distribution Transformer............... 8 3.2 Global Transformer Market, Geographical Volume Split .............................................................. 9

4 Global Power Transformer Market Analysis .................................................................................... 10 4.1 Global Power Transformer Market, Overview ........................................................................... 10 4.2 Global Power Transformer Market, Drivers and Impact Analysis, 2011-2020 ............................. 11

4.2.1 Rising Electricity Demand, a Constant Driver for the Market ............................................. 11 4.2.2 Replacement Market to Drive Power Transformer Demand in North America and Europe . 12 4.2.3 Thriving Economies in the Asia-Pacific to Lead the Demand for new Power Transformers 12 4.2.4 Middle East, a Prospective Market for Future................................................................... 12

4.3 Global Power Transformer Market, Challenges and Impact Analysis, 2011-2020....................... 13 4.3.1 Overcapacity and Increasing Competition Leads to Pricing Pressures and Market

Consolidation.................................................................................................................. 13 4.3.2 Cheap Imports from Asian Countries Act as a Threat to the Local Players ........................ 14

4.4 Global Power Transformer Market, Restraints and Impact Analysis, 2011-2020......................... 14 4.4.1 Raw material Price Fluctuations Dent the Profit Margins .................................................. 14 4.4.2 Local Competition Acts as an Entry Barrier ...................................................................... 15 4.4.3 Large Scale Investments Make the Market Volatile .......................................................... 15

4.5 Global Power Transformer Market, Market Forecast ($m), 2006-2020....................................... 16 4.6 Global Power Transformer Market, Volume, MVA, 2006-2020................................................... 18 4.7 Global Power Transformer Market, Market Share by Revenues, (%), 2011................................ 20

4.7.1 Global Transformer Market, Annual Production Capacities of Major Players, MVA, 2011 .. 21 5 Power Transformer Market, Key Countries ..................................................................................... 22

5.1 The US, Power Transformer Market Analysis ........................................................................... 22 5.1.1 The US, Power Transformer Market, Overview ................................................................ 22 5.1.2 The US, Power Transformer Market, Revenue Analysis ($m), 2006-2020......................... 24 5.1.3 The US, Power Transformer Market, Volume, MVA, 2006-2020 ....................................... 26 5.1.4 The US, Power Transformer Market, Average Price, $/MVA, 2006-2020........................... 28 5.1.5 The US, Power Transformer Market, Market Share by Revenues (%), 2011 ..................... 30 5.1.6 The US, Power Transformer Market, Regulations and Key Initiatives................................ 31

5.2 Germany, Power Transformer Market Analysis......................................................................... 32 5.2.1 Germany, Power Transformer Market, Overview.............................................................. 32 5.2.2 Germany, Power Transformer Market, Revenue Analysis ($m), 2006-2020 ...................... 34 5.2.3 Germany, Power Transformer Market, Volume, MVA, 2006-2020..................................... 36 5.2.4 Germany, Power Transformer Market, Average Price, $/MVA, 2006-2020 ........................ 38 5.2.5 Germany, Power Transformer Market, Market Share by Revenues (%), 2011................... 40 5.2.6 Germany, Power Transformer Market, Regulations and Key Initiatives ............................. 41

5.3 Canada, Power Transformer Market Analysis........................................................................... 42 5.3.1 Canada, Power Transformer Market, Overview................................................................ 42 5.3.2 Canada, Power Transformer Market, Revenue Analysis ($m), 2006-2020 ........................ 44 5.3.3 Canada, Power Transformer Market, Volume, MVA, 2006-2020....................................... 46 5.3.4 Canada, Power Transformer Market, Average Price, $/MVA, (2006-2020)........................ 48 5.3.5 Canada, Power Transformer Market, Market Share by Revenues (%), 2011..................... 50 5.3.6 Canada, Power Transformer Market, Regulations and Key Initiatives ............................... 51

5.4 Russian Federation, Power Transformer Market Analysis ......................................................... 53 5.4.1 Russian Federation, Power Transformer Market, Overview .............................................. 53 5.4.2 Russian Federation, Power Transformer Market, Revenue Analysis ($m), 2006-2020....... 55 5.4.3 Russian Federation, Power Transformer Market, Volume, MVA, 2006-2020 ..................... 57 5.4.4 Russian Federation, Power Transformer Market, Average Price, $/MVA, 2006-2020......... 59 5.4.5 Russian Federation, Power Transformer Market, Market Share by Revenues (%), 2011 ... 61 5.4.6 Russian Federation, Transformer Market, Annual Production Capacities of Major Players,

MVA, 2011 ..................................................................................................................... 63 5.4.7 Russian Federation, Power Transformer Market, Regulations and Key Initiatives.............. 63



5.5 Italy, Power Transformer Market Analysis, 2006-2020 .............................................................. 64 5.5.1 Italy, Power Transformer Market, Overview ..................................................................... 64 5.5.2 Italy, Power Transformer Market, Revenue Analysis ($m), 2006-2020 .............................. 66 5.5.3 Italy, Power Transformer Market, Volume, MVA, 2006-2020............................................. 68 5.5.4 Italy, Power Transformer Market, Average Price, $/MVA, 2006-2020................................ 70 5.5.5 Italy, Power Transformer Market, Market Share by Revenues Analysis (%), 2011............. 71 5.5.6 Italy, Transformer Market, Annual Production Capacities of Major Players, MVA, 2011 ..... 72 5.5.7 Italy, Power Transformer Market, Regulations and Key Initiatives ..................................... 73

5.6 China, Power Transformer Market Analysis, 2006-2020............................................................ 74 5.6.1 China, Power Transformer Market, Overview................................................................... 74 5.6.2 China, Power Transformer Market, Revenue Analysis ($m), 2006-2020............................ 75 5.6.3 China, Power Transformer Market, Volume, MVA, 2006-2020.......................................... 77 5.6.4 China, Power Transformer Market, Average Price, $/MVA, 2006-2020 ............................. 79 5.6.5 China, Power Transformer Market, Market Share by Revenues Analysis (%), 2011 .......... 81 5.6.6 China, Transformer Market, Annual Production Capacities of Major Players, MVA, 2011 .. 82 5.6.7 China, Power Transformer Market, Regulations and Key Initiatives .................................. 82

5.7 India, Power Transformer Market Analysis ............................................................................... 83 5.7.1 India, Power Transformer Market, Overview .................................................................... 83 5.7.2 India, Power Transformer Market, Revenue Analysis, ($m), 2006-2020 ............................ 84 5.7.3 India, Power Transformer Market, Volume (MVA), 2006-2020 .......................................... 87 5.7.4 India, Power Transformer Market, Average Price, ($/MVA), 2006-2020............................. 90 5.7.5 India, Power Transformer Market, Market Share by Revenues Analysis, (%), 2011........... 91 5.7.6 India, Transformer Market, Annual Production Capacities of Major Players, MVA, 2011.... 93 5.7.7 India, Power Transformer Market, Regulations and Key Initiatives.................................... 93

5.8 South Africa, Power Transformer Market Analysis, 2006-2020 .................................................. 94 5.8.1 South Africa, Power Transformer Market, Overview ......................................................... 94 5.8.2 South Africa, Power Transformer Market, Revenue Analysis, ($m), 2006-2020................. 96 5.8.3 South Africa, Power Transformer Market, Volume (MVA), 2006-2020............................... 98 5.8.4 South Africa, Power Transformer Market, Average Price, ($/MVA), 2006-2020 ............... 100 5.8.5 South Africa, Power Transformer Market, Market Share by Revenues Analysis, (%), 2011

.................................................................................................................................... 102 5.8.6 South Africa, Transformer Market, Annual Production Capacities of Major Players, MVA,

2011............................................................................................................................. 103 5.8.7 South Africa, Power Transformer Market, Regulations and Key Initiatives....................... 103

6 Appendix..................................................................................................................................... 104 6.1 Definitions............................................................................................................................. 104

6.1.1 Power........................................................................................................................... 104 6.1.2 Electricity Generation.................................................................................................... 104 6.1.3 Installed Capacity ......................................................................................................... 104 6.1.4 Renewable Power......................................................................................................... 104

6.2 Abbreviations ........................................................................................................................ 104 6.3 Bibliography .......................................................................................................................... 105 6.4 Methodology ......................................................................................................................... 107 6.5 Coverage .............................................................................................................................. 108 6.6 Secondary Research ............................................................................................................. 108 6.7 Primary Research.................................................................................................................. 108 6.8 Modeling and Forecasting...................................................................................................... 108 6.9 Contact Us ............................................................................................................................ 109 6.10 Disclaimer ............................................................................................................................. 109



1.1 List of Tables Table 1: Global Transformer Market, Type of Transformer, Market Share by MVA (%), 2011................ 8 Table 2: Global Transformer Market, Regional Volume Market Share by MVA (%), 2011...................... 9 Table 3: Global Power Transformer Market, Revenues, $m, 2006-2020............................................. 17 Table 4: Global Power Transformer Market, Volume, MVA, 2006-2020.............................................. 19 Table 5: Global Power Transformer Market, Market Share by Revenues, %, 2011 ............................. 21 Table 6: Global Transformer Market, Annual Production Capacity, MVA, 2011................................... 21 Table 7: Power Transformer Market, The US, Power Generation, GWh, 2006-2020 ........................... 23 Table 8: Power Transformer Market, The US, Market Size, $m, 2006-2020........................................ 25 Table 9: Power Transformer Market, The US, Volume, MVA, 2006-2020 ........................................... 27 Table 10: Power Transformer Market, The US, Average Price, $/MVA, 2006-2020............................... 29 Table 11: Power Transformer Market, The US, Market Share by Revenues (%), 2011 ......................... 30 Table 12: Power Transformer Market, Germany, Power Generation, GWh, 2006-2020......................... 33 Table 13: Power Transformer Market, Germany, Grid Investment, $m, 2007-2011 ............................... 34 Table 14: Power Transformer Market, Germany, Revenues ($m), 2006–2020...................................... 35 Table 15: Power Transformer Market, Germany, Volume, MVA, 2006–2020 ........................................ 37 Table 16: Power Transformer Market, Germany, Average Price, $/MVA, 2006–2020 ........................... 39 Table 17: Power Transformer Market, Germany, Market Share by Revenues, %, 2011 ........................ 40 Table 18: Power Transformer Market, Canada, Power Generation, GWh, 2006-2020........................... 43 Table 19: Power Transformer Market, Canada, Market Size ($m), 2006-2020...................................... 45 Table 20: Power Transformer Market, Canada, Market Size ($m), 2006-2020...................................... 47 Table 21: Power Transformer Market, Canada, Average Price, $/MVA, 2006-2020 .............................. 49 Table 22: Power Transformer Market, Canada, Market Share by Revenues, %, 2011 .......................... 51 Table 23: Power Transformer Market, Canada, Estimated Capital Cost, $bn, 2010-2030...................... 52 Table 24: Power Transformer Market, Russia, Power Generation, GWh, 2006-2020 ............................ 54 Table 25: Power Transformer Market, Russia, Market Size ($m), 2006-2020 ....................................... 56 Table 26: Power Transformer Market, Russia, Volume, MVA, 2006-2020 ............................................ 58 Table 27: Power Transformer Market, Russia, Average Price, $/MVA, 2006-2020................................ 60 Table 28: Power Transformer Market, Russia, ZTR and CIS Volume Sales, MVA, 2005-2008 .............. 61 Table 29: Power Transformer Market, Russia, Market Share (%), 2011 ............................................... 62 Table 30: Transformer Market, Russia, Annual Production Capacity, MVA, 2011 ................................. 63 Table 31: Power Transformer Market, Russia, Power Grid Investments, $bn, 2009-2030 ..................... 63 Table 32: Power Transformer Market, Italy, Power Generation, GWh, 2006-2020 ................................ 65 Table 33: Power Transformer Market, Italy, Market Size ($m), 2006-2020............................................ 67 Table 34: Power Transformer Market, Italy, Volume, MVA, 2006-2020................................................. 69 Table 35: Power Transformer Market, Italy, Average Price, $/MVA, 2006-2020.................................... 70 Table 36: Power Transformer Market, Italy, Market Shares by Revenues, %, 2011 .............................. 71 Table 37: Transformer Market, Italy, Annual Production Capacity, MVA, 2011 ..................................... 72 Table 38: Power Transformer Market, China, Power Generation, GWh, 2006-2020.............................. 75 Table 39: Power Transformer Market, China, Market Size ($m), 2006-2020......................................... 76 Table 40: Power Transformer Market, China, Volume, MVA, 2006-2020.............................................. 78 Table 41: Power Transformer Market, China, Average Price, $/MVA, 2006-2020 ................................. 80 Table 42: Power Transformer Market, China, Market Share (%) 2011.................................................. 81 Table 43: Transformer Market, China, Production Capacity, MVA, 2011 .............................................. 82 Table 44: Power Transformer Market, India, Power Generation, GWh, 2006-2020 ............................... 84 Table 45: Power Transformer Market, India, Inter-regional Capacity, MW, 2008-2027 .......................... 85 Table 46: Power Transformer Market, India, Market Size, $m, 2006-2020............................................ 86 Table 47: Power Transformer Market, India, 220kV and 400kV Substations, MVA, 1997-2011 ............. 87 Table 48: Power Transformer Market, India, Volume, MVA, 2006-2020................................................ 89 Table 49: Power Transformer Market, India, Average Price, $/MVA, 2006-2020................................... 91 Table 50: Power Transformer Market, India, Market Share, %, 2011.................................................... 92 Table 51: Transformer Market, India, Production Capacity, MVA, 2011................................................ 93 Table 52: Power Transformer Market, South Africa, Power Generation, GWh, 2006-2020.................... 95 Table 53: Power Transformer Market, South Africa, Market Size, $m, 2006-2020................................. 97 Table 54: Power Transformer Market, South Africa, Volume, MVA, 2006-2020 .................................... 99 Table 55: Power Transformer Market, South Africa, Average Price, $/MVA, 2006-2020...................... 101 Table 56: Power Transformer Market, South Africa, Market Share by Revenues, %, 2011.................. 102 Table 57: Transformer Market, South Africa, Annual Production Capacity, MVA, 2011 ....................... 103 Table 58: Power Transformer Market, South Africa, TYDP Targets, 2011-2020.................................. 103



1.2 List of Figures Figure 1: Global Transformer Market, Introduction, 2011 ...................................................................... 7 Figure 2: Global Transformer Market, Type of Transformer, Market Share by MVA* (%), 2011 .............. 8 Figure 3: Global Transformer Market, Regional Volume Market Share by MVA (%), 2011...................... 9 Figure 4: Global Power Transformer Market, Drivers, 2012-2020 ........................................................ 11 Figure 5: Global Power Transformer Market, Drivers, 2012-2020 ........................................................ 13 Figure 6: Global Power Transformer Market, Restraints, 2012-2020.................................................... 14 Figure 7: Global Power Transformer Market, Raw Material Prices, 2009-2012..................................... 15 Figure 8: Global Power Transformer Market, Revenues, $m, 2006-2020............................................. 16 Figure 9: Global Power Transformer Market, Volume, MVA, 2006-2020.............................................. 18 Figure 10: Global Power Transformer Market, Market Share by Revenues, %, 2011 ............................. 20 Figure 11: Power Transformer Market, The US, Power Generation, GWh, 2006-2020 ........................... 22 Figure 12: Power Transformer Market, The US, Market Size, $m, 2006-2020........................................ 24 Figure 13: Power Transformer Market, The US, Volume, MVA, 2006-2020 ........................................... 26 Figure 14: Power Transformer Market, The US, Average Price, $/MVA, 2006-2020............................... 28 Figure 15: Power Transformer Market, The US, Market Share by Revenues (%), 2011 ......................... 30 Figure 16: Power Transformer Market, Germany, Power Generation, GWh, 2006-2020......................... 32 Figure 17: Power Transformer Market, Germany, Grid Investment, $m, 2007-2011 ............................... 34 Figure 18: Power Transformer Market, Germany, Revenues ($m), 2006–2020...................................... 35 Figure 19: Power Transformer Market, Germany, Volume, MVA, 2006–2020 ........................................ 36 Figure 20: Power Transformer Market, Germany, Average Price, $/MVA, 2006–2020 ........................... 38 Figure 21: Power Transformer Market, Germany, Market Share by Revenues, %, 2011 ........................ 40 Figure 22: Power Transformer Market, Canada, Power Generation, GWh, 2006-2020........................... 42 Figure 23: Power Transformer Market, Canada, Market Size ($m), 2006-2020...................................... 44 Figure 24: Power Transformer Market, Canada, Volume, MVA, 2006-2020........................................... 46 Figure 25: Power Transformer Market, Canada, Average Price, $/MVA, 2006-2020 .............................. 48 Figure 26: Power Transformer Market, Canada, Market Share by Revenues, %, 2011 .......................... 50 Figure 27: Power Transformer Market, Canada, Estimated Capital Cost, $bn, 2010-2030...................... 51 Figure 28: Power Transformer Market, Russia, Power Generation, GWh, 2006-2020 ............................ 53 Figure 29: Power Transformer Market, Russia, Grid Investment, RUBbn, 2010-2014 ............................ 55 Figure 30: Power Transformer Market, Russia, Market Size ($m), 2006-2020 ....................................... 56 Figure 31: Power Transformer Market, Russia, Volume, MVA, 2006-2020 ............................................ 57 Figure 32: Power Transformer Market, Russia, Average Price, $/MVA, 2006-2020................................ 59 Figure 33: Power Transformer Market, Russia, ZTR and CIS Volume Sales, MVA, 2005-2008 .............. 61 Figure 34: Power Transformer Market, Russia, Market Share, %, 2011................................................. 62 Figure 35: Power Transformer Market, Italy, Power Generation, GWh, 2006-2020 ................................ 64 Figure 36: Power Transformer Market, Italy, Market Size ($m), 2006-2020............................................ 66 Figure 37: Power Transformer Market, Italy, Volume, MVA, 2006-2020................................................. 68 Figure 38: Power Transformer Market, Italy, Average Price, $/MVA, 2006-2020.................................... 70 Figure 39: Power Transformer Market, Italy, Market Shares by Revenues, %, 2011 .............................. 71 Figure 40: Transformer Market, Italy, Italian Transmission Network Development Plan, €bn, 2011......... 73 Figure 41: Power Transformer Market, China, Power Generation, GWh, 2006-2020.............................. 74 Figure 42: Power Transformer Market, China, Market Size ($m), 2006-2020......................................... 76 Figure 43: Power Transformer Market, China, Volume, MVA, 2006-2020.............................................. 77 Figure 44: Power Transformer Market, China, Average Price, $/MVA, 2006-2020 ................................. 79 Figure 45: Power Transformer Market, China, Market Share (%) 2011.................................................. 81 Figure 46: Power Transformer Market, India, Power Generation, GWh, 2006-2020 ............................... 83 Figure 47: Power Transformer Market, India, Inter-regional Capacity, MW, 2008-2027 .......................... 85 Figure 48: Power Transformer Market, India, Market Size, $m, 2006-2020............................................ 86 Figure 49: Power Transformer Market, India, 220kV and 400kV Substations, MVA, 1997-2011 ............. 87 Figure 50: Power Transformer Market, India, Volume, MVA, 2006-2020................................................ 88 Figure 51: Power Transformer Market, India, Average Price, $/MVA, 2006-2020................................... 90 Figure 52: Power Transformer Market, India, Important Domestic Players............................................. 91 Figure 53: Power Transformer Market, India, Market Share, %, 2011.................................................... 92 Figure 54: Power Transformer Market, South Africa, Power Generation, GWh, 2006-2020.................... 94 Figure 55: Power Transformer Market, South Africa, Market Size, $m, 2006-2020................................. 96 Figure 56: Power Transformer Market, South Africa, Volume, MVA, 2006-2020 .................................... 98 Figure 57: Power Transformer Market, South Africa, Average Price, $/MVA, 2006-2020...................... 100 Figure 58: Power Transformer Market, South Africa, Market Share by Revenues, %, 2011.................. 102



2 Introduction

2.1 Power Transformer, Overview Transformers are devices used to step-up or step-down voltage levels in power transmission and power distribution networks. A power transformer is installed at all substations, starting from the power generation plant to the last substation in the transmission network, before power distribution starts. The figure below illustrates specific points where power transformers are installed in a grid network. Power transformers are above XX Kilovolts (kV)/XX Megavolt-amperes (MVA)

Figure 1: Global Transformer Market, Introduction, 2011

Source: GlobalData, Federal Institute of Materials Research and Testing, 2011

2.2 GlobalData Report Guidance The report starts with an executive summary covering the key points of the market.

Chapter two provides an introduction on power transformers.

Chapter three introduces the global transformer market. In this chapter the global transformer market size is segmented by region. The chapter also provides the share of power transformers in the total transformer market.

Chapter four talks about the global power transformer industry. The section provides insights on drivers, restraints and challenges in the global power transformer industry. The section also discusses global revenues, volume sales and market shares.

Chapter five discusses the power transformer market for key countries. The countries covered in this chapter are the US, Canada, Italy, Germany, Russia, China, India and South Africa. Analysis of the market revenues, prices, volume, regulations and market shares are covered for all of these key countries.

Note:

The report covers all sizes of power transformers above the rating level of 10 MVA and voltage level 33kV.

Production capacity is the estimated plant capacity of a company in a country. Company websites, press releases and news articles have been referred to in obtaining approximate production capacities of the companies. The mentioned production capacities include transformers of all ratings and types, and exports, if any.



3 Global Transformer Market

3.1 Global Transformer Market, Volume Split between Power and Distribution Transformer

In grid networks, two main types of transformers are used – power transformers and distribution transformers. Power transformers are installed in transmission or sub-transmission networks and can be of the step-up or step-down types.

Distribution transformers on the other hand are used in the distribution networks and are of the step-down type. These transformers are responsible for stepping-down high voltage levels from the transmission networks to below XXkV. A distribution transformer is smaller in size when compared to a power transformer. Distribution transformers cover XX% of the total transformer market in volume terms.

Figure 2: Global Transformer Market, Type of Transformer, Market Share by MVA* (%), 2011

Power Transformers

Distribution Transformers

Source: GlobalData, * Megavolt-amperes (MVA)

Table 1: Global Transformer Market, Type of Transformer, Market Share by MVA (%), 2011 Type of Transformer Volume (%)

Power Transformers

Distribution Transformers

Source: GlobalData



4.5 Global Power Transformer Market, Market Forecast ($m), 2006-2020 After the global recession in 2008, the global power transformer market is in a recovery phase. The market is still performing below its potential as utilities in North America and Europe are taking some time to open up investments in the transmission sector. With market conditions improving and investor confidence coming back, the market will grow at a CAGR of XX% over the forecast period 2012-2020.

Over the historic period the market revenues increased from $XXm in 2006 to $XXm in 2011. The market saw sizable growth in 2007 and 2008, with revenues reaching $XXm and $XXm, respectively. However, as an effect of the economic recession, this growth momentum was derailed in late 2008, with utilities holding back orders for new installations and canceling plans for the replacement of old ones. During this period the prices of power transformers also saw a downward trend, declining the overall revenues of the market. The market has now entered a recovery phase and orders in North America and Europe are seeing a revival. The growth over the forecast period will primarily led by the Asia-Pacific region. Also, the market is expected to benefit from the increasing need to replace the aging power transformers and growing investor confidence in North America and Europe, during the forecast period.

Figure 8: Global Power Transformer Market, Revenues, $m, 2006-2020

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Rev

enue

s ($

m)

Source: GlobalData, Primary Interview with Industry Participants



Table 3: Global Power Transformer Market, Revenues, $m, 2006-2020 Year Revenues ($m)

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Source: GlobalData, Primary Interview with Industry Participants

GDPE1042MAR / Published MAY 2012 4 Power Transformers - Global Market Size, Average Pricing and


6 Appendix

6.1 Definitions The report covers the global power transformer market. The report covers the revenue, pricing analysis and market share of the market with respect to different countries, globally.

6.1.1 Power According to "Energy Information Administration" power is defined as the rate of producing, transferring, or using energy, most commonly associated with electricity. Power is measured in watts and often expressed in kilowatts (kW) or megawatts (MW).

6.1.2 Electricity Generation According to "Energy Information Administration" electricity generation is defined as the process of producing electric energy by transforming other forms of energy; also, the amount of electric energy produced, expressed Gigawatt hours (GWh).

6.1.3 Installed Capacity According to "Energy Information Administration" installed capacity is defined as the amount of electric power delivered or required for which a generator, turbine, transformer, transmission circuit, station, or system is rated by the manufacturer.

6.1.4 Renewable Power Renewable power is defined as the electricity generated from naturally replenishing energy resources. These energy sources are flow-limited. The energy resources include: biomass, biogas, geothermal, solar, tidal, wave and wind.

6.2 Abbreviations AT&C Aggregate Technical and Commercial Losses

BHEL Bharat Heavy Electricals Ltd

BNA Federal Network Agency

CAGR Compound Annual Growth Rate

CEA Central Electricity Authority

CIS Common Wealth of Independent States

CTI Critical Transmission Infrastructural

DC Direct Current

DOE Department of Energy

EHV Extra High Voltage

EnWG Energy Industry Act

FYIP Five Year Investment Programs

FYP Five Year Plan

GDP Gross Domestic Product

GVA Gigavolt-amperes

GW Gigawatts

HVDC High Voltage Direct Current

IRP Integrated Resource Plan

kV Kilovolts



kWh kilowatt-hours

LTP Alberta Long Term Transmission Plan

MVA Megavolt amperes

NABeG Grid Expansion Acceleration Act

NAPEE National Action Plan for Energy Efficiency

NBP National Build Program

NTG National Transmission Grid

OPA Ontario Power Authority

PGCIL Power Grid Corporation of India

R&D Research and Development

R-APDRP Restructured Accelerated Power Development & Reforms Programme

REW Renewable Energy Law

ROW Rest of the World

SGC State Grid Corporation

TRIL Transformers & Rectifiers Ltd

TRP Transmission Reliability Program

TSOs Transmission Systems Operators

TYDP Transmission Ten Year Development Plan

UHV Ultra High Voltage

ZTR JSC Zaporozhtransformator

6.3 Bibliography (ABB, 2006). ABB (2006). Brazil-China-India meeting on HVDC and Hybrid Systems, Planning and

Engineering Issues.

Available From:

http://www05.abb.com/global/scot/scot221.nsf/veritydisplay/d967bbdbeb0dba49c125737c0046b9a8/$file/05%20cigre_brasil_hvdc_planning_raj%20iyer.pdf

[Accessed on: 20th Feb, 2012]

(dena, 2011). dena (2011). dena Grid Study II – Integration of Renewable Energy Sources in the German Power Supply System from 2015 – 2020 with an Outlook to 2025.

Available From:

http://www.dena.de/fileadmin/user_upload/Publikationen/Sonstiges/Dokumente/Summary_dena_Grid_Study_II.pdf

[Accessed on: 27th March, 2012]

(DME, 2004). Department of Mineral and Energy (2004). Draft Energy Efficiency Strategy of the Republic of South Africa.

Available From:

http://www.compete-bioafrica.net/policy/energy_efficiency_strategy.pdf




(ME, 2009). Ministry of Energy of the Russian Federation (2009). Energy Strategy of Russia.

Available From:

http://www.energystrategy.ru/projects/docs/ES-2030_%28Eng%29.pdf

[Accessed on: 20th March 2012]

(IRP, 2010). Department of Energy, Republic of South Africa (2010). Executive Summary of the Draft Integrated Electricity Resource Plan for South Africa - 2010 to 2030.

Available From:

http://www.doe-irp.co.za/content/Executive_Summary_Draft_IRP2010_22Oct2010.pdf

[Accessed on: 25th April 2012]

(DOE, 2003). United States Department of Energy, Office of Electricity Transmission and Distribution. “Grid 2030” A National Vision for Electricity’s Second 100 Years.

Available From:

http://www.climatevision.gov/sectors/electricpower/pdfs/electric_vision.pdf


(Letha et al., 2011). Letha Tawney et al. (2009). HIGH WIRE ACT. Electricity Transmission Infrastructure and its Impact on the Renewable Energy Market

Available From: http://pdf.wri.org/high_wire_act.pdf

[Accessed on: 3rd March 2012]

(IEEMA, 2009). IEEMA via Projectmonitor. IEEMA welcomes deferment of notification

Available From:

http://www.projectsmonitor.com/STEEL/ieema-welcomes-deferment-of-notification


ME and CEA (2009). Ministry of Power & Central Electricity Authority. Key Inputs for Accelerated Development of Indian Power Sector for 12th Plan and Beyond.

Available From:

http://www.cea.nic.in/more_upload/base_baper_int_conclave.pdf


(Niehage, 2010). Udo Niehage (2010). Siemens Energy: Power Transmission Division.

Available From:

http://www.siemens.com/investor/pool/en/investor_relations/financial_publications/speeches_and_presentations/cmd_energy_2010/100629_transmission_presentation_u_niehage.pdf

[Accessed on: 23rd March, 2012]

(Peng and Guoliang, 2009). Peng Gao and Guoliang Luo (2009). Asian Social Science. Problems in Development of Electrical Power in Rural China

Available From:

http://www.ccsenet.org/journal/index.php/ass/article/download/4545/3878

[Accessed on: 1st March 2012]



(NERC, 2010). North American Electric Reliability Corporation. Table 6. Proposed High-voltage Transmission Line Additions Filed Covering Calendar Year 2010, 2011 through 2020.

Available From:

http://www.eia.gov/cneaf/electricity/page/eia411/schedule6_2010.xls


(Terna, 2011). Terna (2011). RE-Shaping workshop Development of Renewable Energy Joint Projects with Third Countries.

Available From:

http://www.reshaping-res-policy.eu/downloads/Milano-presentations/Presentation_Terna_1.pdf

[Accessed on: 22nd March, 2011]

(IEA, 2003). International Energy Agency (2003). Russian Electricity Reform, Emerging challenges and opportunities.

Available From:

http://www.iea.org/textbase/nppdf/free/archives/russianelec.pdf


(FGC, 2009). Federal Grid Company of Unified Energy System (2009). Russian Transmission Grid: Present and Future

Available From:

http://www.fstrf.ru/about/activity/inter/meropr/11/3/05.Kazachenkov_Presentation_(07.02.2012).pdf

[Accessed on: 20th March 2012]

(IEA, 2009). International Energy Agency (2009). World Energy Outlook.

Available From:

http://www.iea.org/textbase/nppdf/free/2009/weo2009.pdf


(Yijia and Mark, 2011). Yijia Nan and Mark Moseley (2011). PPP Insights. The Expansion of China’s Generation Capacity.

Available From:

http://ppp.worldbank.org/public-private-partnership/sites/ppp.worldbank.org/files/PPPInsight/1201061_PPP_Insights_Energy_v1n1.pdf

[Accessed on: 25th Feb 2012]

6.4 Methodology GlobalData’s dedicated research and analysis teams consist of experienced professionals with marketing, market research and consulting backgrounds in the power industry, and advanced statistical expertise.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and the Strategic and Competitive Intelligence Professionals (www.scip.org).

All GlobalData databases are continuously updated and revised. The following research methodology is followed for all databases and reports.



6.5 Coverage The objective of updating GlobalData coverage is to ensure that it represents the most up-to-date vision of the industry. We track hundreds of Power news sources on a daily basis. Using this news flow and regular interaction with the industry experts, we identify the key trends being witnessed by the industry. These could be market opportunities, industry consolidations, technological breakthroughs and policy updates. Our articles and reports investigate these trends in detail and evaluate the market implications of these trends.

6.6 Secondary Research The research process begins with exhaustive secondary research on internal and external sources being carried out to source qualitative and quantitative information relating to each market. The secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports, investor presentations and US Securities and Exchanges (SEC) filings.

Industry trade journals and other literature.

Internal and external proprietary databases.

National government documents, statistical databases and market reports.

News articles, press releases and web-casts specific to the companies operating in the market.

6.7 Primary Research A primary research effort further substantiates findings and information captured through desk research. This aspect of the research program serves both as a means of obtaining updates regarding issues such as changes in policy frameworks, power sector development, and as a quality control mechanism. GlobalData conducts a number of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions:

It provides first-hand information on the market size, market trends, growth trends, competitive landscape, and future outlook of the market, among other things.

It helps in validating and strengthening the secondary research findings.

It further develops the analysis team’s expertise and market understanding.

It provides primary research involving email interactions and telephone interviews as well as face-to-face interviews for each market, category, segment and sub-segment across all the relevant geographies.

The participants who typically take part in such a process include, but are not limited to:

Industry participants: CEOs, VPs, business development managers, market intelligence managers and national sales managers.

Outside experts: investment bankers, valuation experts, research analysts and key opinion leaders specializing in power industry.

6.8 Modeling and Forecasting In the case of data gaps and especially while forecasting the market, we use in-house models to forecast the data. Historic data and the analysis of trends within it form the basis of all forecasting methodology. Various qualitative and quantitative factors are usually taken into account for estimating the future growth. The forecast data is validated through various industry experts and a back-of-envelope test is also carried out.



6.10 Disclaimer All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GlobalData.

This report is a licensed product and should not to be reproduced without prior permission.

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