Brazil Power & Distribution Transformers Market Set to grow at over 5% CAGR till 2019
Brazil Power & Distribution Transformers Market Set to grow at over 5% CAGR till 2019.
According to TechSci Research, "Brazil Power & Distribution Transformers Market Forecast & Opportunities, 2019″, the country's power and distribution transformers market is expected to witness a CAGR of over 5% during 2014-19.
The main factors driving growth in the market include rising power generation, increasing transmission and distribution requirements across industrial as well as residential segments, and growing population in the country.
In addition, the recent FIFA World Cup-2014 and future Olympic Games-2016 that are being hosted in Brazil are also providing a considerable boost to the demand for reliable power supply, and therefore, spurring the power and distribution transformers market in the country.
In years to come the country is expected to meet most of its power demand through hydro power and wind power projects. The existing as well as upcoming projects would create significant demand for new power and distribution transformers. Grid reinforcement and rapid expansion of Transmission & Distribution (T&D) network will also require new transformers to be installed across the country.
Aging T&D infrastructure including old distribution transformers are linked to high power losses and as such the demand for retrofit solutions is expected to increase over the coming years.
The report also reveals that in industrial applications, customized and specialty transformers are playing an essential role in addressing the rising power and distribution requirements.
Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm comments:
"In Brazil, the upcoming global sporting events would require power utilities to ensure a continuous power supply during the events. This calls for strengthening the existing power infrastructure and expanding it further to support the rising power requirements. In addition, major transformer manufacturing companies are expanding their product portfolio by offering green transformers to reduce carbon dioxide emissions, which would also augment the overall market demand over the next five years."
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