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Europe Cast Resin Transformer Market Size

Report ID: GMI8462
Published Date: Mar 2024
Report Format: PDF

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Europe Cast Resin Transformer Market Size

Europe Cast Resin Transformer Market was valued at USD 910.2 million in 2023 and is expected to grow at a CAGR of over 10.7% between 2024 and 2032, driven by by the increasing emphasis on renewable energy integration, grid modernization initiatives, investments in electricity grid and the growing demand for reliable and efficient power distribution systems.

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Additionally, the focus on reducing carbon emissions and enhancing energy efficiency is fuelling the adoption of cast resin transformers. Technological advancements in insulation materials and design innovations, further contribute to market expansion, catering to the evolving needs of the European energy landscape.

Europe Cast Resin Transformer Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Cast Resin Transformer Market Size in 2023:	USD 910.2 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	10.7%
2032 Value Projection:	USD 2.28 Billion
Historical Data for:	2019 to 2023
No. of Pages:	240
Tables, Charts & Figures:	282
Segments covered:	Winding, Rating, Application
Growth Drivers:	Refurbishment demand for existing grid infrastructure Growing deployment of renewable energy Increasing demand for electricity
Pitfalls & Challenges:	High initial cost

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of Europe cast resin transformer was reached USD 910.2 million in 2023 and is expected to record a CAGR of 10.7% through 2032, propelled by the increasing emphasis on renewable energy integration and grid modernization initiatives.

Two winding cast resin transformers segment captured about 65% share of the Europe cast resin transformer market in 2023 and is expected to experience considerable growth in the years ahead, due to increasing demand for reliable and efficient power distribution solutions.

UK cast resin transformer industry is projected to be worth over USD 330 million by 2032, driven by increasing investments in renewable energy infrastructure, the expansion of smart grid technologies, and the need for reliable & efficient power distribution systems.

ABB, AM Transformers, Bharat Heavy Electricals Limited, CG Power & Industrial Solutions Ltd., Eaton Corporation, Fuji Electric Co., Ltd, Gea, Hitachi Energy Ltd., Schneider Electric, SGB SMIT, Siemens Energy, TMC Transformers S.P.A, Toshiba Energy Systems & Solutions Corporation are some of the major industry contenders.