Transformer Market Top Trends, Future Analysis & Forecast 2022-2030

1
Transformer Market is expected to be USD 93,416.9
Million by 2030
2
Industry Overview

• The global transformer market is expected to grow
  at an exponential rate through 2030, driven by
  the proliferation of advanced transformer
  technology and the ongoing expansion of the grid
  infrastructure across the globe.
• Recently, industry players in the transformer
  market have been making significant investments
  towards infrastructural advancements, which has
  positively boosted the market growth.
• In fact, back in August 2022, Siemens Energy, the
  German energy giant, announced plans to deliver
  the first batch of 64 million mega transformers
  in Nigeria commissioned by the Federal Government
  under the PPI or Presidential Power Initiative by
  September 2022. To increase and stabilize the
  nation's electrical supply, the first phase will
  include 10 mobile power sub-stations as well as
  10 mega transformers.
• The transformer market has been segmented in
  terms of core, product, winding, cooling,
  insulation, rating, mounting, application, and
  region.
• Based on product, the sector has been divided
  into distribution transformer and power
  transformer.

3
Continue

• Also, rapid grid infrastructure growth and
  accelerated growth in the renewable energy sector
  created a favorable environment for business
  expansion.
• With respect to cooling, the transformer market
  has been segmented into dry type and oil
  immersed. The dry-type segment is anticipated to
  record a yearly installation of nearly 8 million
  through 2030 due to the significant attributes of
  dry-type transformers such as competitive cost
  structure as well as operational safety.
• However, the devices have yet to establish a
  sustained market share in high-voltage electrical
  applications, considering their enormous
  industrial growth potential.
• Based on insulation, the industry has been
  categorized in terms of air, gas, oil, and solid.
  The air gas insulated power transformers is
  slated to grow at a significant rate over the
  review timeline because of the increasing market
  penetration due to their reliable and safe
  operations as well as adaptable product
  applications.
• In terms of application, the transformer industry
  has been bifurcated into residential, commercial
  industrial, and utility.

4

Browse Full Market Research Report Of
Transformer Market _at_ https//www.gminsights.com/in
dustry-analysis/transformer-market Inquiry
Before Buying_at_ https//www.gminsights.com/inquiry-
before-buying/2100 Request for a Sample of
this Research report _at_ https//www.gminsights.com/
request-sample/detail/2100
5
Transformer Market

6
Stay In Touch Website www.gminsights.com Soci
al Media