The Business Research Company’s Transformer Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, September 21, 2022 /EINPresswire.com/ — As per The Business Research Company’s “Transformer Global Market Report 2022”, the transformer market is expected to grow from $75.89 billion in 2021 to $95.51 billion in 2022 at a compound annual growth rate (CAGR) of 25.9%. The growth in the transformer market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The transformer market is expected to reach $220.40 billion in 2026 at a CAGR of 23.3%. Favorable government policies to increase electrification will contribute to the growth of the transformer market in the forecast period.
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Key Trends In The Transformer Market
Transformer market is moving towards 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. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power.
Overview Of The Transformer Market
The transformers market consists of sales of transformers and related services which are used in manufacturing of power, distribution and specialty transformers. A transformer transfers energy form one circuit to another. Transformers increase or decrease voltage and current level, increase or decrease capacitor value, prevent direct current from passing between two circuits and isolate circuits.
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Transformer Global Market Report 2022 from TBRC covers the following information:
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
• By Transformer Type: Power Transformer, Distribution Transformer
• By Type: Low Rated Transformer, High Rated Transformer
• By End-User: Utility, Residential and Commercial, Industry.
• By Geography: The global transformer market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific holds the largest share in the market.
Major market players such as ABB, General Electric Corporation, Schneider Electric S.A., Mitsubishi Electric Corporation, Schneider Electric, Mitsubishi Electricis, Toshiba Corporation, Siemens, SGB-SMIT, and Hammond Power Solutions.
Trends, opportunities, strategies and so much more.
Transformer Global Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides an overview of transformer global market. The market report gives transformer market analysis, transformer global market size, transformer global market growth drivers, transformer global market segments, transformer global market major players, transformer market growth across geographies, and transformer global market competitors’ revenues and market positioning. The transformer global market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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