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Cast Resin Transformer Market Trends

Report ID: GMI7207
Published Date: Jun 2024
Report Format: PDF

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Cast Resin Transformer Market Trends

The aging electric infrastructure is being pushed to perform beyond its original design capabilities. Modernizing grid networks to make them "smarter" and more resilient through the integration of innovative equipment, technologies, and controls will enhance the business outlook. These advanced units work and communicate to deliver reliable electricity more efficiently, considerably mitigating the frequency and duration of power outages, restoring service faster, and mitigating storm impacts during outages.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of cast resin transformer was reached USD 2.79 billion in 2023 and is set to grow at 10.1% CAGR through 2032, owing to the growing deployment of renewable energy.

The auto transformer segment in the cast resin market is anticipated to record more than USD 2.55 billion by 2032, attributed to its operational flexibility and effective transformation capabilities, which distinguish it from competitors.

The North America cast resin transformer market is expected to reach more than USD 1.4 billion by 2032 driven by substantial investments in expanding long-distance electricity networks.

ABB, Bharat Heavy Electricals Limited, CG Power & Industrial Solutions, Eaton, Fuji Electric Co. Ltd., General Electric, Hitachi Energy, Raychem RPG Private Limited, SGB SMIT, Schneider Electric, and Siemens Energy among others.