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The power transformers market size is estimated to grow by USD 12.96 billion, at a CAGR of 6.47% between 2023 and 2028. The expansion of the market hinges on various factors, including the modernization of existing transformers, the growth of transmission and distribution (T&D) equipment driving the demand, and the increasing capacity of renewable power generation. The modernization of transformers involves upgrading older units with newer, more efficient technologies to improve performance and reduce energy losses. The expansion of T&D infrastructure, particularly in developing regions, is boosting the demand for power transformers to facilitate the efficient transmission and distribution of electricity. Additionally, the increasing capacity of renewable power generation, such as wind and solar, requires the integration of transformers to connect these sources to the grid, further driving market growth.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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