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U.S. Transformer Market Analysis

Report ID: GMI5801
Published Date: Jun 2024
Report Format: PDF

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U.S. Transformer Market Analysis

U.S. Transformer Market Revenue Size, By Core, 2022 - 2032 (USD Billion)

Based on the core, the sell segment is poised to cross USD 4 billion by 2032, on account of their superior efficiency and reliability compared to open-core designs. They minimize energy losses and reduce the likelihood of operational failures, making them highly desirable for both utility and industrial applications. shell-core transformers, with their enhanced mechanical and electrical integrity, are well-suited for these upgrades, ensuring long-term performance and stability of the power grid.

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Based on product, the distribution transformer segment is anticipated to grow with CAGR of more than 7.6% through 2032, owing to the rising demand for efficient power distribution systems and the ongoing expansion of electrical grid infrastructure. Factors such as urbanization, industrialization, and the increasing adoption of renewable energy sources necessitate the modernization of existing power grids. Additionally, initiatives to improve energy efficiency and reduce transmission losses are boosting the demand for advanced distribution transformers. As utilities and industries invest in upgrading their electrical networks, the distribution transformer market is expected to experience significant growth.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of U.S. transformer was reached USD 11.2 billion in 2023 and is anticipated to register 7.8% CAGR between 2024 to 2032, owing to the increasing investments in the modernization of the aging power infrastructure, the rise in renewable energy projects, and the expanding industrial sector.

U.S. transformer industry from the shell segment is poised to hit USD 4 billion by 2032, on account of their superior efficiency and reliability compared to open-core designs.

U.S. transformer market from the distribution transformer segment is poised to witness 7.6% CAGR through 2032, owing to the rising demand for efficient power distribution systems and the ongoing expansion of electrical grid infrastructure.

ABB, Daelim Belefic, Eaton Corporation PLC, Emerson Electric Co, General Electric, Hitachi, Ltd, JSHP Transformer, MGM Transformer Company, Mitsubishi Electric Corporation, and Olsun Electrics Corporation, among others.