North America Cast Resin Transformer Market Trends
The cast resin transformer market for North America is witnessing growth due to the product’s capability to offer higher energy efficiency and increasing focus on energy conservation and sustainability. Innovations such as advanced insulation materials, optimized winding configurations, and digital monitoring systems enhance the capabilities of cast resin transformers will fuel the business scenario.
Authors:
Ankit Gupta, Vishal Saini
Frequently Asked Questions (FAQ) :
The market valuation of the North America cast resin transformer was reached USD 591.4 million in 2023 and is anticipated to record a CAGR of 10% through 2032, driven by growing emphasis on renewable energy sources, along with the product’s ability to provide reliable power distribution.
> 5 MVA cast resin transformer segment of North America market is set to grow at a rate of over 8.5% through 2032, driven by the growing demand for low-voltage power distribution solutions, particularly in commercial, utility, and industrial applications.
The U.S. cast resin transformer market is projected to be worth over USD 890 million by 2032, driven by increasing regulatory requirements and corporate sustainability goals in the nation.
ABB, Bharat Heavy Electricals Limited, Daelim Transformers, Eaton Corporation, Fuji Electric Co., Ltd, GE, Hammond Power Solutions, Hitachi Energy Ltd., Jiangshan Scotech Electrical Co., Ltd. are some of the major industry contenders.
