Distribution transformer market analysis with impact of COVID-19
The global distribution transformer market was valued at $13.9B in 2017 and is projected to reach $22.86B by 2025, growing at a CAGR of 7.4 % from 2018 to 2025.
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The global distribution transformer market was valued at $13.9 B in 2017 and is projected to reach $22.86 B by 2025, growing at a CAGR of 7.4 % from 2018 to 2025.
Factors that are increasing the market for the distribution transformation are the increasing efficiency that the system provides as well as the growing demand for distribution transformers across several industries. Factors such as the time taken for implementation as well as the cost of the system are restraining the market.
The key players are: Crompton Greaves Ltd., General Electric, Ormazabal, SGB-Smit Group, Lemi Trafo JSC, Celme S.R.L, Emerson Electric Co., Eremu SA, ABB Ltd., Eaton Corporation PLC., Siemens AG.
Source: Market Watch