Global Lighting Transformer Market Size study & Forecast, by Type (Electronic, Isolation, Magnetic), by Power Rating (Small, Medium, Large), by Application (Utility, Residential and Commercial, Industrial) and Regional Analysis, 2022-2029

Global Lighting Transformer Market Size study & Forecast, by Type (Electronic, Isolation, Magnetic), by Power Rating (Small, Medium, Large), by Application (Utility, Residential and Commercial, Industrial) and Regional Analysis, 2022-2029

Global Lighting Transformer Market is valued at approximately USD 1.2 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.56% over the forecast period 2022-2029. Lighting transformers are known as LED transformers and are used to transform voltage levels, and they are designed to make it possible to change voltage down to levels suitable for household lighting. The surge in demand for low-voltage lighting applications and Growing investment toward the expansion of Lighting transformers are factors responsible for the growth of the global Lighting transformer market.

The primary key factor anticipated to accelerate the growth of the Lighting Transformer Market is the higher demand for low-voltage lighting applications in the commercial and residential sectors, various strategies to gain a higher share, including acquisition by key players, will accelerate the market growth. For instance, In Mar 2022, ZIV invested €2m in the development of intelligent systems that will distribute energy to homes and reduce the operating cost of low-voltage networks. And In Jan 2022, Magnitude Lighting Inc., a manufacturer of LED drivers and transformers, announced a new product designed specifically for landscape architects, electricians, and contractors. Also, Growth in investment for the global transformer market would contribute to the growth of the Lighting transformer market. Moreover, growing technological advancement and rapid urbanization are anticipated to create a positive outlook for the market. However, the high maintenance cost of lighting transformers stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Lighting Transformer Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue owing to factors such as increasing infrastructural advancements across the region. Canada is leading and occupying the largest global share in North America due to the presence of a wide number of local players. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2022-2029. Factors such as increased demand for electricity across developing economies.

Major market player included in this report are:
Trans Power Tech
MX Lightforce
Airlink Transformers company limited.
Pelton Power Technologies private limited
Leviton Manufacturing Company, Inc.
Schneider Electric SE
Hitachi Ltd.
ABB Ltd.
Trio Transformer
Eaton Corporation plc.
Recent Developments in the Market:
⮚ In October 2022, Hitachi Energy announced plans to invest more than USD 37 million to increase utility customers' demand and to expand and modernize its power transformer manufacturing facility in South Boston. Hitachi Energy is leveraging financial support from Halifax County, where the facility is located, and the Commonwealth of Virginia.

Global Lighting Transformer Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Power Rating, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Electronic
Isolation
Magnetic

By Power Rating:
Small
Medium
Large

By Application:
Utility
Residential and Commercial
Industrial

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned
Trans Power Tech
MX Lightforce
Airlink Transformers company limited.
Pelton Power Technologies private limited
Leviton Manufacturing Company, Inc.
Schneider Electric SE
Hitachi Ltd.
ABB Ltd.
Trio Transformer
Eaton Corporation plc.

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