Global industrial control transformers market to reach $1 B by 2027
Amid the COVID-19 crisis, the global market for industrial control transformers is projected to reach a revised size of $1 B by 2027.
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Amid the COVID-19 crisis, the global market for industrial control transformers estimated at $818 M in the year 2020, is projected to reach a revised size of $1 B by 2027, growing at a CAGR of 3.5 % over the period 2020-2027.
The industrial control transformers market in the USA is estimated at $220.8 M in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of $219.3 M by the year 2027, trailing a CAGR of 6.4 % over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, expected to grow at 1.1 % and 2.7 %, respectively, over the forecast period. Within Europe, Germany is forecast to grow at approximately 1.8 % CAGR.
The 380-page report by ReportLinker presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Key players in this market include: Dongan Electric Manufacturing Company, Emerson Electric Company, General Electric Company, Hubbell, Inc., MCI Transformer Corporation, Rockwell Automation, Inc., Schneider Electric SA, Siemens AG.
The regions covered in this report are: North America, Latin America, Asia-Pacific, and Europe.
Source: Globe Newswire