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Transformer Market Drivers Rise in the Growth of Micro Grid and Power Generation& Transmission Technologies

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Transformer Market is estimated to reach $80.1billion by 2025, growing at a CAGR of 6.7% from 2020 to 2025.The transformers are electrical machines designed to transfer electricity from one circuit to another with varying voltage level. Increase in current brings increase in voltage levels therefore transformers are designed to bring the required voltage level by setting or stepping the voltages as per the requirement. The transformers are designed so that they can be used in the wider range and wider applications for various industrial purposes with a broader market prospects. In power systems the transformer brings safety and efficiency by raising and lowering voltage levels as per the requirements.
The use of transformers in various industrial applications, surge in adoption of different ratings of transformer in different regions globally, rise in R&D activities and rise in industrialization are driving the growth of the market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/18180/transformer-market.html

Key takeaways:

1. Rise in industrialization and centralization along with surge in adoption of new flexible transformers for different industrial uses are driving the growth of the market.

2. Electrical Transformers have wide applications like use in emergency mobile substations, prefabricated substations and others for power generation, power transmission, power distribution in Energy and Power Utilities due to their flexible, voltage regularization and cost effectiveness.

3. APAC is expected to dominate the global Transformer Market in the forecast period 2020-2025 owing to the rise in transmission and distribution networks along with surge in adoption of electrical transformers for various applications.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=18180

Segmental Analysis:

1. By Phase, Transformer Market is segmented into single phase transformer and 3-phase transformer. The power generated at various generating stations is in three phase nature with voltages ranging from 13.2KV or 22KV which are then used in various end use industries for several applications.

2. Energy and Power Utilities are dominating the market. Expansion of transmission and distribution networks and advancements in smart grid are some of the factors driving this sector growth.

3. Global Transformer Market is dominated by North America with a share of 38% in 2019. North America is dominating the market owing to modernization of power generation and transmission industries, increased transmission and distribution networks, ongoing surge in adoption of high-power infrastructure.

Competitive Landscape:

The top 5 players in the Transformer industry are -

1. ABB Group

2. Siemens AG

3. GE Corporation

4. Glen Magnetics Inc.

5. Bruce Electric Equipment Corp.

Click on the following link to buy the Transformer Market Report:
https://www.industryarc.com/reports/request-quote?id=18180

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Smart Grid Market
https://www.industryarc.com/Research/Smart-Grid-Market-Research-507629

B. Water Meter Market
https://www.industryarc.com/Report/16408/water-meter-market.html

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IndustryARC
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Venkat Reddy
IndustryARC
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