Global high power transformers market to reach $32 B in 2026
The global high power transformers market is expected to grow from $13.62 billion in 2021 to $16.51 billion in 2022 at a CAGR of 21.3%.
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The global high power transformers market is expected to grow from $13.62 billion in 2021 to $16.51 billion in 2022 at a CAGR of 21.3%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $32.78 B in 2026 at a CAGR of 18.7%.
The high-power transformers market consists of sales of high-power transformers and related services for electrical insulation, power distribution, control, and instrumentation. High power transformers manufacture power transformers with ratings of 801 MVA to 1200 MVA and convert voltages, usually from higher to lower, from one stage or phase configuration to another.
The main types in the high power transformers market are single-phase and three-phase transformers. The single-phase segment in the high power transformers market refers to a single-phase that utilizes single-phase alternating current and the transformer relies on a voltage cycle that operates in a unified time phase. The various mounting techniques are pad, pole, PC/PCB, and others. These are used in industrial, commercial, residential applications.
Asia Pacific is the largest region in the high power transformers market in 2021. Western Europe is the second-largest region in the high power transformers market.
Major players in the high-power transformers market are ABB Ltd., Alstom, Crompton Greaves Limited, Siemens AG, etc.
Source: Research and Markets