The global power transformers market is projected to reach $12.84 billion in 2023 and grow at a compound annual growth rate of 1.4%.

Global Power Transformer Market Expected to Reach $12.84 Billion by 2023

Globally, the energy sector is undergoing changes due to various economic and environmental factors. Concerns about global warming, growing consumer base, rapid urbanization, increased revenue, and operational efficiency are some of the factors aiding market reforms in the sector. In well-established markets, grid assets are nearing or past the end of their service life, raising questions about the efficiency in their performance.

Key companies in the market: 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 SA, Fuji Electric Co.,Ltd. Ltd.. Togliatti Transformer (TTZ), SVEL, Dong Anh, Best, Iljin Electric, LSIS Co.Ltd, Wilson, ALMACO, GETRA.

Regions included in this report are: the Americas (US, Brazil), Asia-Pacific (China, India, Japan, Vietnam), Europe, the Middle East, Africa (EMEA) (UK, Germany, Russia, Saudi Arabia).