Power Transformer Market Share Expected to Reach $37.7 Billion by 2029
The global Power Transformer Market Share is expected to grow from an estimated USD 27.9 billion in 2024 to USD 37.7 billion by 2029, at a CAGR of 6.2% during the forecast period according to a new report by MarketsandMarkets™.
This growth is primarily driven by the need to strengthen power distribution networks to keep up with the rising global demand for electricity. Furthermore, the market...
Global Energy Perspective 2024: High Voltage Power Transformer Outlook
The global High Voltage Power Transformer Market in terms of revenue was estimated to be worth $9.1 billion in 2024 and is poised to reach $12.3 billion by 2029, growing at a CAGR of 6.3% from 2024 to 2029 according to a new report by MarketsandMarkets™.
This growth is primarily driven by the need to strengthen power distribution networks to keep up with the rising global demand for electricity....
Instrument Transformers Market to Witness Exponential Growth by 2030
New Revenue Pockets:
The global market for instrument transformers is projected to reach USD 10.6 billion by 2030, showing a growth from the estimated USD 7.1 billion in 2023, with a compound annual growth rate (CAGR) of 5.8% from 2023 to 2030. The instrument transformers market is expected to grow due to a rise in the electricity demand, grid modernization, and the growing focus on renewable...
Power Transformer Market worth $37.7 Billion by 2029
The global Power Transformer Market is expected to grow from an estimated USD 27.9 billion in 2024 to USD 37.7 billion by 2029, at a CAGR of 6.2% during the forecast period according to a new report by MarketsandMarkets™.
This growth is primarily driven by the need to strengthen power distribution networks to keep up with the rising global demand for electricity. Furthermore, the market stands...
Oil Immersed Power Transformer Market worth $28.3 Billion by 2028
The global Oil Immersed Power Transformer Market is expected to reach USD 28.3 billion by 2028 from USD 21.2 billion in 2023 at a CAGR of 6.0% during the 2023–2028 period according to a new report by MarketsandMarkets™. This robust growth is attributed to the anticipated reinforcement of power distribution infrastructure, responding to the escalating global demand for electricity. Additionally,...
Transformer Monitoring Market worth $3.7 Billion by 2028
The global Transformer Monitoring Market is expected to grow from an estimated USD 2.4 billion in 2023 to USD 3.7 billion by 2028, at a CAGR of 9.1% during the 2023–2028 period according to a new report by MarketsandMarkets™. Transformer monitoring is critical for guaranteeing power transformer reliability and performance. It enables real-time monitoring of critical factors like temperature, oil...
Vacuum Contactor Market Trends & Opportunities with Forecast 2023-2028
New Revenue Pockets:
The vacuum contactor market is anticipated to reach a value of USD 4.1 billion in 2023 and is expected to expand to USD 5.5 billion by 2028, exhibiting a CAGR of 6.1%. The market growth is propelled by the decreasing costs of lithium-ion batteries and significant government investments, which contribute to the market’s positive trajectory.
The vacuum contactor market...
Shore Power Market Size worth $2.8 Billion by 2027
The global Shore Power Market size is expected to grow from an estimated USD 1.6 billion in 2022 to USD 2.8 billion by 2027, at a CAGR of 11.2% according to a new report by MarketsandMarkets™. Shore power, shore-to-ship power, or cold ironing is a technique of supplying electricity from the shore to ships to fulfill their power requirements for onboard electrical systems. This technique is...
Transformer Oil Market Size, Share, Growth, Analysis & Global Forecast to 2030
The global Transformer Oil Market size is projected to reach USD 3.0 billion in 2030 from USD 2.0 billion in 2023 at a CAGR of 5.9% according to a new report by MarketsandMarkets™. Transformer oil is a special kind of oil that is primarily used in transformers to facilitate insulation and cooling. Transformer oil caters to the T&D, railways and metros, power generation,...
Transformer Oil Market Projected to Reach $3.0 Billion by 2030
The global Transformer Oil Market is projected to reach USD 3.0 billion in 2030 from USD 2.0 billion in 2023 at a CAGR of 5.9. Transformer oil is a special kind of oil that is primarily used in transformers to facilitate insulation and cooling. Transformer oil caters to the T&D, railways and metros, power generation, industrial, and commercial end users. The most commonly used transformer...