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Middle East & Africa High Voltage Power Transformer Market Size

Report ID: GMI8474
Published Date: Mar 2024
Report Format: PDF

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Middle East & Africa High Voltage Power Transformer Market Size

Middle East & Africa High Voltage Power Transformer Market was valued at USD 3.7 billion in 2023 and is expected to grow at a CAGR of 7.2% during 2024 to 2032. Rapid urbanization, industrialization, and infrastructure development initiatives necessitate robust electricity transmission networks, fueling demand for high voltage power transformers.

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Middle East & Africa High Voltage Power Transformer Market

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Additionally, the region's increasing investments in renewable energy projects and grid modernization efforts contribute to market growth. The Middle Eastern countries experienced a 57% rise in solar and wind capacity between May 2022 and May 2023, with expectations of continued growth in the foreseeable future. With a focus on enhancing energy efficiency and reliability, coupled with government initiatives to expand electricity access, the industry is poised for significant expansion in the future.

MEA High Voltage Power Transformer Market Report Attributes
Report Attribute	Details
Base Year:	2023
MEA High Voltage Power Transformer Market Size in 2023:	USD 3.7 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	7.2%
2032 Value Projection:	USD 7.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	180
Tables, Charts & Figures:	218
Segments covered:	Cooling, Rating, Application
Growth Drivers:	Growing demand for electricity Expansion of existing transmission networks
Pitfalls & Challenges:	High capital expenditure

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of high voltage power transformer in Middle East & Africa was reached USD 3.7 billion in 2023 and is set to expand at 7.2% CAGR from 2024 to 2032, driven by rapid urbanization, industrialization, and infrastructure development initiatives necessitating robust electricity transmission networks.

The oil immersed cooling segment accounted for more than 60% share of the Middle East & Africa high voltage power transformer market in 2023 and is poised for substantial growth through 2032 owing to efficient heat dissipation, enhanced insulation properties, and greater reliability in harsh environmental conditions prevalent in the region.

Saudi Arabia high voltage power transformer market size is anticipated to surpass USD 1.9 billion by 2032, owing to the increasing demand for electricity across the country due to industrialization and urbanization, which is fueling the need for reliable power infrastructure.

Some of the top firms engaged in the MEA high voltage power transformer industry are ABB, alfanar Group, Elsewedy Electric, Emirates Transformer and Switchgear Ltd, EUROGULF TRANSFORMERS, General Electric, Hyosung Heavy Industries, HD HYUNDAI ELECTRIC CO., LTD., Hitachi Energy Ltd, LS ELECTRIC Co., Ltd, Matelec Group, Mitsubishi Electric Corporation, Siemens Energy, The Saudi Transformer Co. Ltd., Toshiba Energy Systems & Solutions Corporation, and WEG, among others.