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Closed Core Distribution Transformer Market Trends

Report ID: GMI8325
Published Date: Feb 2024
Report Format: PDF

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Closed Core Distribution Transformer Market Trends

Closed-core distribution transformer industry is poised to grow substantially owing to the growing focus on energy efficiency and sustainability, which in turn drives the demand for eco-friendly transformer technologies. In addition, advancements in insulation materials & design techniques are enhancing transformer reliability and longevity. The market is also witnessing increased adoption of renewable energy sources, necessitating transformers capable of accommodating fluctuating power inputs.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of closed core distribution transformer was reached USD 10.3 billion in 2023 and is expected to register over 7.7% CAGR from 2024 to 2032, owing to increasing demand for electricity along with urbanization and industrialization worldwide.

The outdoor segment recorded over 60% share of the closed core distribution transformer market in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to the increasing demand for electricity infrastructure in expanding urban areas and remote locations.

North America closed core distribution transformer industry is expected to reach over USD 7.5 billion by 2032, due to infrastructure modernization initiatives and increasing investments in renewable energy projects in the region.

ABB, Celme S.r.l., CG Power & Industrial Solutions Ltd., Eaton Corporation, Elsewedy Electric, EMCO Limited, ERMCO, General Electric, Hitachi Energy Ltd., and HYOSUNG HEAVY INDUSTRIES, are some of the major closed core distribution transformer companies worldwide.