Global power transformers market to reach $12.84 B in 2023
The global power transformers market is estimated to reach $12.84B in 2023, growing at a CAGR of 1.4% according to ResearchAndMarkets.com's.
The global power transformers market is estimated to reach $12.84 B in 2023, growing at a compound annual growth rate (CAGR) of 1.4 % according to ResearchAndMarkets.com’s.
Globally, the power sector is undergoing changes, owing to various economic and environmental factors. Concerns about global warming, increasing consumer base, rapid urbanization, growing income, and operational efficiency are some of the factors aiding market reforms in the sector. In well established markets, grid assets are nearing the end of their life or well past their service life, raising questions about efficiency in their performance.
The key players in the market are: TBEA Co. Ltd., Hitachi Ltd., TWBB, Siemens AG, Xi’an XD Transformer Co. Ltd., General Electric, Hyundai Heavy Industries Co. Ltd., Toshiba Corporation, Crompton Greaves Limited, JSHP Transformers, Hyosung Corporation, Bharat Heavy Electricals Limited, Mitsubishi Electric Corporation, SGB-SMIT Management GmbH, Delta Transformers Inc., Weg Electric Equipment S.A., Fuji Electric Co. Ltd., Togliatti Transformer (TTZ), SVEL, Dong Anh, Best, Iljin Electric, LSIS Co. Ltd., Wilson, ALMACO, GETRA.
The regions covered in this report are: Americas (US, Brazil), Asia-Pacific (China, India, Japan, Vietnam), Europe, Middle East, Africa (EMEA) (UK, Germany, Russia, Saudi Arabia).
Source: PR Newswire