Global Transformer Market Size And Transformer Market Growth Opportunities

Transformer Market Report 2021: COVID-19 Impact And Recovery

Transformer Global Market Report 2021: COVID-19 Impact And Recovery

The Business Research Company’s Transformer Global Market Report 2021: COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, October 27, 2021 / — According to the new market research report ‘Transformer Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the transformer market is expected to grow from $184.21 billion in 2020 to $202.08 billion in 2021 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $266.73 billion in 2025 at a CAGR of 7%. Favorable government policies to increase electrification contributed to the growth of the transformers market in the historic period.

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The transformers market consists of sales of transformers and related services which are used in manufacturing of power, distribution and specialty transformers. A transformer transfers energy form one circuit to another. Transformers increase or decrease voltage and current level, increase or decrease capacitor value, prevent direct current from passing between two circuits and isolate circuits.

Trends In The Global Transformer Market
The transformers market is moving towards evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. For instance, in 2018, The US Department of Energy (DOE) invested $7.5 million to support research and development of smart transformers for grid resiliency. Companies should consider investing in technologies to produce smart transformers for commercial establishments.

Global Transformer Market Segments:
The global transformer market is further segmented:

By Transformer Type: Power Transformer, Distribution Transformer

By Type: Low Rated Transformer, High Rated Transformer

By End User: Utility, Residential & Commercial, Industry

By Geography: The global transformers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Transformer Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides transformer market overviews, analyzes and forecasts market size and growth for the global transformer market, transformer market share, transformer market players, transformer market segments and geographies, transformer market’s leading competitors’ revenues, profiles and market shares. The transformer market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Read Transformer Global Market Report 2021 from The Business Research Company for information on the following:

Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries

Transformer Market Organizations Covered: ABB, General Electric Corporation, Schneider Electric S.A., Mitsubishi Electric Corporation, Schneider Electric, Mitsubishi Electricis, Toshiba Corporation, Siemens, SGB-SMIT, Hammond Power Solutions, Hitachi, Alstom, Eaton, SPX Transformer Solutions, Kirloskar Electric Company, RITZ Instrument Transformers GmbH, Hammond Power Solutions Inc., TBEA, Jefferson Electric, SPX Transformer Solutions, Mace, Performance Group, Fortune Electric Co., Ltd., Schaffner Holding AG.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Interested to know more about The Business Research Company?
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.

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Here is a list of reports from The Business Research Company similar to the Transformer Global Market Report 2021:

High Power Transformers Global Market Report 2020 – By Application (Industrial, Commercial, Residential), COVID-19 Impact And Recovery

Medium Power Transformers Global Market Report 2020 – By End User (Residential, Commercial, Industrial), COVID-19 Impact And Recovery

Low Power Transformers Global Market Report 2020 – By Product Type (Split-Core, Solid-Core), By Applications (Power Plants, Factory), COVID-19 Impact And Recovery

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Source: EIN Presswire