Global transformer market to reach $48.3 billion in 2019
USA: BCC Research announced new report Global Market for Transformers.
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USA: BCC Research announced new report Global Market for Transformers.
The market is expected to grow to $48.3 billion by 2019, with a five-year CAGR of 7.3%. The Asia-Pacific market is the fastest-growing region and is moving at a significant 8.1% CAGR, reports Broadway World.
The Asia-Pacific market is expected to surge to $21.1 billion by 2019 due to increasing use of the region as a hub for Western markets to outsource the manufacture of their transformers. The European and North American markets are projected to grow at a healthy CAGR of 7.2% and 5%, respectively.
Source: Broadway World
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