The high power transformers market size is expected to see steady growth in the next few years. It will grow to $15.15 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to renewable energy integration, grid modernization, electrification trends, grid resilience. Major trends in the forecast period include grid modernization, smart transformers, electrification of transportation, digital substations.
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Segmentation & Regional Insights
The high power transformers market covered in this report is segmented –
1) By Phase: Single Phase, Three Phase
2) By Mounting: Pad, Pole, PC/PCB, Other Mountings
3) By Application: Industrial, Commercial, Residential
Asia-Pacific was the largest region in the high power transformers market in 2023. Western Europe is the second-largest region in the high power transformers market. The regions covered in the highpower transformers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The demand for high-power transformers is driven by the initiatives taken by the government to provide electricity to everyone. Governments across the world are taking initiatives to supply electricity to rural and inaccessible areas, thus increasing the demand for rural electrification. For instance, the Government of India has taken several steps to promote the country's electricity production. For instance, in July 2022, the Government of India launched the power sector’s revamped distribution sector scheme. This project will strengthen India's renewable energy goals, commitment, and green transportation aspirations.
Key Industry Players
Major companies operating in the high power transformers market include Schneider Electric, Hyosung Corporation Power & Industrial Performance, Performance Group, Hyundai Heavy Industries Co. Ltd., TBEA Co. Ltd., Mitsubishi Electric Corporation, Hammond Power Solutions Inc., SPX Transformer Solutions Inc., Jinpan International Limited, Hitachi Ltd., SGB-SMIT Group, Jefferson Electric Inc., CG Power Systems Canada Inc., Toshiba Corporation, KOTSONS Pvt. Ltd., Layer Electronics Co. Ltd., LS ELECTRIC Co. Ltd., Kirloskar Electric Company Limited, Mace Industries Limited, ALTRAFO Transformers South Africa (Pty) Ltd., DuPont de Nemours Inc., ELANTAS Beck India Limited, Eremu S.A., Fuji Electric Co. Ltd., WEG S.A., Jiangsu Huapeng Transformer Co. Ltd., ABB Asea Brown Boveri Ltd., Bharat Heavy Electricals Limited, Crompton Greaves Limited, Siemens Aktiengesellschaft, Alstom SA
The high power transformers market report table of contents includes:
1. Executive Summary
2. High Power Transformers Market Characteristics
3. High Power Transformers Market Trends And Strategies
4. High Power Transformers Market - Macro Economic Scenario
5. Global High Power Transformers Market Size and Growth
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31. Global High Power Transformers Market Competitive Benchmarking
32. Global High Power Transformers Market Competitive Dashboard
33. Key Mergers And Acquisitions In The High Power Transformers Market
34. High Power Transformers Market Future Outlook and Potential Analysis
35. Appendix
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High Power Transformers Market:WiseGuyReports.com adds “High Power Transformers Global Market Report 2020-30” reports to its database.Executive SummaryThe global high power transformers market was worth $31.75 billion in 2019.
In 2018, Asia-Pacific was the largest region in the high power transformers market.The high power transformers market consists of sales of high power transformers and related services for electrical insulation, power distribution, control and instrumentation.
High power transformers manufacture power transformers with ratings of 801 MVA to 1200 MVA and convert voltages, usually from higher to lower, from one stage or phase configuration to another.The high power transformers market covered in this report is segmented by application: industrial, commercial, residential.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5247111-high-power-transformers-global-market-report-2020-30Transformer manufacturing market is moving towards the evolution of independent and self-regulating smart transformers.
Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply.
Governments across the world are taking initiatives to supply electricity to rural and inaccessible areas, thus increasing the demand for rural electrification.
The aim of this program was to provide free electricity to the poor and to others at a very low cost.In June 2019, Hitachi, Ltd., a Japan-based energy solution provider company acquired 80.1% of ABB’s power grids business for $11 billion.
