Power Transformer Market Forecasted to Reach USD 37.5 Billion
The power transformer market is expected to grow from $20.7 billion today to more than $15 billion by 2015. By 2032, the population will reach 37.5 billion; according to a new research report Global Market Insights Advances such as improved insulation materials, enhanced protection features, and advanced cooling systems help improve operating efficiency and reduce energy losses. Innovations such as smart transformers and integrated protection technologies further improve reliability and performance. As industries and utilities place increasing emphasis on energy efficiency and seek to modernize their power systems, demand for advanced transformers with superior efficiency and technological advantages will grow strongly. Also Read: Major Import Markets for Power Transformers The power transformer industry is segmented on the basis of core, winding, cooling, insulation, rating, installation, application, and region. The pole-type transformer market is expected to account for a significant market share by 2032, owing to its widespread use in distribution networks, especially in residential and rural areas. Pole-type transformers are…
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