The Business Research Company’s Transformers Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LONDON, GREATER LONDON, UK, March 24, 2023 /EINPresswire.com/ — The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s “Transformers Global Market Report 2023” is a comprehensive source of information that covers every facet of the transformers global market. As per TBRC’s transformers market forecast, the global transformer market is expected to grow to $117.73 billion in 2027 at a CAGR of 7.2%.
Favorable government policies to increase electrification will contribute to the growth of the transformers market in the forecast period. Asia-Pacific is expected to hold the largest transformers market share. Major players in the transformers global market include ABB, General Electric Corporation, Schneider Electric S.A., Mitsubishi Electric Corporation.
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Trending Transformers Market Trend
The transformers market is moving towards the 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 2021, the U.S. Department of Energy (DOE) invested a total of $20 million in funding for innovative research and development in artificial intelligence (A.I.) and machine learning. DOE’s Office of Electricity has selected eight projects to receive nearly $7 million in total to explore the use of big data, artificial intelligence, and machine learning technologies for improving existing knowledge and discovering new insights and tools for better grid operation and management. Companies should consider investing in technologies to produce smart transformers for commercial establishments.
Transformers Market Segments
• By Type: Low Rated Transformer, High Rated Transformer
• By Transformer Type: Power Transformer, Distribution Transformer
• By Phase: Single Phase, Three Phase
• By Application: Residential And Commercial, Utility, Industrial
By Geography: The global transformers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read more on the global transformers market report at:
A transformer transfers energy from one circuit to another. Transformers increase or decrease voltage and current levels, increase or decrease capacitor value, prevent direct current from passing between two circuits, and isolate circuits.
Transformers Global Market Report 2023 from TBRC covers the following information:
Market size date for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Transformers Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on transformers market size, drivers and trends, transformers market major players, competitors’ revenues, market positioning, and transformers market growth across geographies. The transformers market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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