Report provides comprehensive information on Global Power Transformer Market size, share, industry trends, growth, with regional forecast to 2023. Report analyses Power Transformer Market Upcoming Opportunities, challenges, Key Country Analysis, with business development strategies, And key players insights.
Global Power Transformer Market – Overview
A resent research report about the global power transformer market that adumbrates aggrandizement for this market at 8.64% CAGR between 2018 and 2023. By value, the market has been figured to be worth the US $ 34 billion by the end of forecast period. With global electrification and power backup rapidly becoming a reality, the demand, as well as market for transformers, is growing in countries where cities and villages are being electrified now or where arrangements are needed for power backup.
The distinctive factor supporting the global power transformer market growth is the investments in the energy sector due to the infrastructural developments. Other market drivers include growth in the renewable energy sector and growing demand for electricity for the consumer as well as commercial purposes.
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