Ozone Market Reports projects that the Power Transformer market size will grow from USD 16.48 Billion in 2017 to USD 26.45 Billion by 2023, at an estimated CAGR of 8.2%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
Governments worldwide, due to the rapid increase in electricity demand, are not only focusing on raising generation capacities but also emphasizing on improving T&D infrastructure. Investments have been high in power transmission & distribution sector in developed as well as developing countries.Currently, small power transformer is the largest segment of the power transformer market, primarily due to its use in various applications. However, large power transformer is the fastest growing segment. With countries emphasizing on reducing transmission losses, the use of high voltage transmission technologies such as EHV, UHV, and HVDC has also gone up.
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By Market Players:
ABB Ltd. , Siemens AG , General Electric Company , Crompton Greaves Limited , Toshiba Corporation , Hyundai Heavy Industries Co., Ltd. , Mitsubishi Electric Corporation , Hyosung Group , Bharat Heavy Electricals Limited , SPX Transformer Solutions, Inc. ,
Small, Medium, Large, ,
By Cooling Type:
Oil-Cooled, Air-Cooled, , ,
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