Global Power Transformer Market Size By Rating, By Cooling Type, By Geographic Scope And Forecast
Power Transformer Market Size And Forecast
Power Transformer Market was valued at USD 26.7 Billion in 2019 and is projected to reach USD 44.5 Billion by 2027, growing at a CAGR of 6.6 % from 2020 to 2027.
Global Power Transformer Market Outlook
Compact design, easy transportation and short circuit reliability are some of the vital parameters that will boost their demand of power transformers. Apart from the growing consumption of electricity, the increasing focus on renewable electric power generation, deployment of smart grids and smart transformers, replacement of existing aged power transformers are some other factors responsible for the global power transformer market growth. Major challenges likely to impact the global market size include high initial cost and dependency on imports. However, pricing pressures on power transformers manufacturer, along with rising raw material costs and the global economic slowdown, can act as a restraint for the industry growth.
Global Power Transformer Market Competitive Landscape
The Global Power Transformer Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Daihen Corporation, General Electric, Siemens AG, Schneider Electric, Mitsubishi Electric, Toshiba Corporation, CG Power, Hyundai Heavy Industries, ABB Limited and Voltamp Transformers.
Global Power Transformer Market Segment Analysis
The Global Power Transformer Market is Segmented Into Rating, Cooling Type And Geography.
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