America Transformers Market Research Report Forecast to 2030
The America transformers market is expected to grow at a CAGR of 5.25% over the forecast duration of 2023-2030. The America transformers market was valued at USD 10,925.6 million in 2022 and is expected to reach USD 16,130.6 million by 2030. A transformer is a device used to convert and distribute power from one power grid to another power circuit. It can be referred to as a passive component or a static electric machine. Since transformers are the only devices able to maintain a constant power distribution frequency and minimize oscillations across the circuit, they can also be considered the most important or crucial component of the power distribution ecosystem.
The America transformers market is expected to be driven by the increasing energy demands from industries and upgrading old transmission and distribution systems and rapid adoption of smart grid technology. Transformers are the only equipment that reliably supplies energy to both utilities. Industries demand different voltages, which is incompatible.
However, a major factor restraining market growth for transformers is the instability in raw material prices. The raw materials that the transformer sector requires, such as copper, aluminum, steel, and oil, might have erratic pricing because of market volatility, supply and demand imbalances, and geopolitical tensions.
Market SegmentationBased on type the America transformers market has been categorized into dry-type transformers, and oil-filled transformers. Dry-type transformers are further bifurcated into cast resin dry type transformer (CRT), vacuum pressure-impregnated transformer (VPI), vacuum pressure encapsulated (VPE) transformers, and others.
Based on power rating the America transformers market has been categorized into <500 kVA, 500 kVA – 2500 kVA, 2500 kVA – 10000 kVA, and >10000 kVA. Based on phase the America transformers market has been categorized into single phase, and three phase. Based on voltage the America transformers market has been categorized into Low, Medium, and High.
Based on mounting the America transformers market has been categorized into Pad, Pole, and Others. Based on End-Use Industries the America transformers market has been categorized into Industrial, Residential, Utility, and Others. Based on the region, the America transformers Market has been segmented into US, Canada, Mexico, Central America, and Rest of America.
Major PlayersEaton, Fuji Electric Co., Ltd, GE, Hammond Power Solution, and Hitachi, Ltd. are some of the key players operating in the America market.
Companies MentionedEaton
Fuji Electric Co.
Ltd
GE
Hammond Power Solution
and Hitachi
Ltd.
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