Distribution transformers market to reach $27.8 B
The global market for distribution transformers estimated at $18.1 B in 2022, is estimated to reach $27.8 B by 2030, growing at a CAGR of 5.5 %.
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The global market for distribution transformers estimated at $18.1 B in 2022, is estimated to reach $27.8 B by 2030, growing at a CAGR of 5.5 %.
The oil-filled type is projected to record 5.2 % CAGR and reach $23.5 B by the end of the reporting period. Considering the ongoing post-pandemic recovery, growth in the dry-type segment is readjusted to a revised 6.9 % CAGR for the next eight years.
The distribution transformers market in the USA is estimated at $4.9 B in 2022. China, the world`s second-largest economy, is forecast to reach a projected market size of $5.7 B by 2030, trailing a CAGR of 8.2 % over the reported period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7 % and 4.7 % respectively over the 2022-2030 period. In Europe, Germany is forecast to grow at approximately 4.3 % CAGR.
Source: PR Newswire