Stratistics MRC report, Transformer Market Forecasts to 2028 – Global Analysis on Trends, Size, Share, Application, Key Players, Types, End User and Geography

MARYLAND, GAITHERSBURG, UNITED STATES, December 8, 2021 /EINPresswire.com/ -- Transformer Market Forecasts to 2028 – Global Analysis By Type (Low Rated transformer, High Rated transformer), Power Rating (Large, Medium, Small), Phase (Three Phase, Single Phase) and By Geography

According to Stratistics MRC, the Global Transformer Market is accounted for $54.27 billion in 2020 and is expected to reach $123.29 billion by 2028 growing at a CAGR of 10.8% during the forecast period. The rise in the growth of microgrid and power generation & transmission technologies and growth in industrialization & centralization are driving the market growth. However, high initial and instability in the pricing of raw materials costs are hampering the growth of the market. Some of the key players profiled in the Transformer Market include ABB Ltd, Alstom, Eaton, General Electric Company, Hammond Power Solutions Inc, Hitachi, Kirloskar Electric Company, Mitsubishi Electric Corporation, RITZ Instrument Transformers GmbH, Schneider Electric, SGB-SMIT, Siemens AG, SPX Transformer Solutions, Toshiba Corporation. We offer a 15% customization to be added within the report at no extra cost. To know more post your query here: https://www.strategymrc.com/report/transformer-market/request-customization

The Global Transformer Market is majorly driven by rising demand for energy in the developing economies and favorable government policies for large scale integration. The distribution transformer segment is growing at a highest CAGR owing to the increasing number of load centers across the world. North America market is growing at a highest CAGR due to the factor such as the rise in upgrading old transmission and distribution systems are likely going to drive the North America transformer market. Middle East & Africa market is growing at a highest CAGR owing to the changing power consumption patterns in households and corporations and investments toward the deployment of high-capacity alternative energy sources in several countries across the region.

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This report on Transformer Market offers market monitoring related to a particular area of clients interest and provides up to date information related to strategic initiatives like mergers, acquisitions, partnerships, expansions, product launches for leading companies on a regional scale depending on the clients subscription period for various industries or markets. Our data is constantly updated and revised by team of research experts so that it always reflects the recent trends and information. We have high experience in research and consulting for different business domains to provide to the necessities of both individual and corporate clients. Our experienced team uses proprietary data sources and different tools and methods to gather and analyze information.

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