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Two Winding Power Transformer Market Trends

Report ID: GMI10887
Published Date: Aug 2024
Report Format: PDF

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Two Winding Power Transformer Market Trends

The two winding power transformer industry is experiencing steady growth, driven by rising electricity demand, urbanization, and the expansion of renewable energy infrastructure. Key trends include an increasing focus on grid modernization and integration of smart grids, particularly in developing economies. Advancements in transformer efficiency and technology, including digital monitoring and control systems, are enhancing performance and reducing operational costs. The market is also witnessing a shift towards environmentally friendly and sustainable solutions, with a growing emphasis on reducing losses and improving energy efficiency.

Geographically, Asia-Pacific, particularly China and India, remains the largest market due to large-scale power projects, while Europe and North America are focusing on upgrading aging infrastructure to meet environmental standards and increasing energy demand.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of two winding power transformer was worth over USD 11.4 billion in 2023 and is projected to expand at 5.9% CAGR through 2032, fuelled by surging electricity demand in emerging economies and a worldwide shift towards renewable energy sources, notably solar and wind.

The pad-mounted segment of two winding power transformer industry will record 5.5% CAGR through 2032, driven by the advantages, including enhanced safety with tamper-resistant designs, easier accessibility for maintenance, and a smaller footprint.

Asia-Pacific market for two winding power transformer is expected to exceed USD 9 billion by 2032, driven by rapid industrialization and urbanization, which are fuelling the demand for reliable energy supply.

Bharat Heavy Electricals Limited (BHEL), Celme S.r.l., CG Power & Industrial Solutions Ltd., General Electric, Hyundai Electric & Energy Systems Co., Ltd., Hyosung Heavy Industries, Hitachi Energy Ltd., JSHP Transformer, and Mitsubishi Electric Corporation among others.