Other Prominent Vendors in the market are: Alstom, Areva, Bharat Heavy Electricals, Eaton, Fujikura, Furukawa Electric, Larsen & Toubro, LS Cable & Systems, Sumitomo Electric Industries, and Zhejiang Chint Electrics.
Commenting on the report, an analyst said: “Copper windings, electrical steel, oil, and insulation materials are the major raw materials used to manufacture transformers. These account for more than 50% of the total cost of large power transformers. Of these, copper windings and electrical steel together constitute more than 40% of the total cost of a transformer. The declining prices of these two raw materials should reduce manufacturing costs, which in turn will likely ease costs for end-users such as utilities, industrial, and commercial.”
According to the report, surging industrialization in developing countries such as India, China, Brazil, Russia, and South Africa is one of the major driving forces in the T&D equipment market. We expect the rising pace of industrialization and urbanization to drive demand for electricity worldwide. The growing appetite for electricity is also boosting installed power generation capacities, which necessitates the modernization and expansion of existing power transmission networks.
Further, the report states that the low scope for product differentiation in T&D equipment lowers the bargaining power of manufacturers in the market, and many vendors are trying to offer reliable equipment at cheaper rates to stay ahead of the competition.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Sep 21, 2015