Transformer market to be worth $46.5 B by 2023
According to Market Research Future, the transformer market stands to gain revenues worth $46.5 B by 2023, growing at the CAGR of 7.43 %.
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According to Market Research Future, the transformer market stands to gain revenues worth $46.5 B by 2023, growing at the CAGR of 7.43 %.
The increased importance being placed on the achievement of renewable energy goals is anticipated to spur the transformer market globally. The enlargement of transmission and distribution grids around the world are expected to further stimulate the growth of the transformer market in the forecast period. Moreover, escalated investment being directed towards smart grid infrastructures is anticipated to create new prospects for the transformer market further.
The regions covered by this report are Europe, the Americas, Asia Pacific, and Middle East & Africa.
The key players of the transformer market are: Eaton Corporation plc, ABB Ltd., Schneider Electric, Hyosung Power & Industrial Solutions, Crompton Greaves Ltd., and Mitsubishi Electric Corporation, Toshiba Corporation, Siemens AG, Bharat Heavy Electricals Limited, and SPX Transformer Solutions, Inc.
Source: Jewish Life News