Global Power Transformers Market 2023-2027

Global Power Transformers Market 2023-2027

Technavio has been monitoring the power transformers market and is forecast to grow by $11575.07 mn during 2022-2027, accelerating at a CAGR of 6.15% during the forecast period. Our report on the power transformers market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by modernization of existing transformers, expansion of T&D driving the demand for power transformers, and expansion of renewable power generation capacity.

Technavio's power transformers market is segmented as below:

By Type

• Liquid immersed
• Dry type

By End-user

• Commercial power
• Residential power
• Industrial power

By Geographical Landscape

• APAC
• Europe
• North America
• Middle East and Africa
• South America

This study identifies the increasing popularity of bio-based and naphthenic transformer oil as one of the prime reasons driving the power transformers market growth during the next few years. Also, digitalization of transformers and emergence of eco-efficient power transformers will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the power transformers market covers the following areas:

• Power transformers market sizing
• Power transformers market forecast
• Power transformers market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading power transformers market vendors that include ABB Ltd., ALTRAFO Srl, Altro Transformers Pty. Ltd., CG Power and Industrial Solutions Ltd., DuPont de Nemours Inc., Eaton Corp. Plc, Etel Transformers Pty ltd, Fuji Electric Co. Ltd., General Electric Co., Hammond Power Solutions Inc., Hitachi Ltd., Hyundai Electric and Energy Systems Co. Ltd., Kirloskar Electric Co. Ltd., Layer Electronics Srl, MGM Transformer Co., Schneider Electric SE, Siemens Energy AG, Southern Electronic Services, Tyree Industries, and Wilson Power And Distribution Technologies Pvt. Ltd. Also, the power transformers market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.