Vacuum Pressure Impregnated (VPI) Transformer Market Growing Electricity Distribution Across Worldwide

According to Precision Business Insights (PBI), the latest report, the vacuum pressure impregnated (vpi) transformer market is expected to be valued at USD 1759.4 million in 2022 and is poised to grow at a significant CAGR of 6.1% over 2022-2028. The primary driver of the expansion of the global Vacuum Pressure Impregnated (VPI) Transformer market is the growth of electricity distribution in emerging economies, continuous technological improvements, and advancements.

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Industrial Segment to Dominate the Vacuum Pressure Impregnated (VPI) Transformer Market:
Based on end-use, the industrial segment accounted for the largest share in past years and is expected to have a significant growth rate over the forecasted period. Increasing industrialization sector worldwide, such as the electric automobile sector is growing day by day due to many countries' changes in pollution regulations and policies, resulting in rising electric and hybrid vehicles. The rise of electric vehicles has increased the need for electric charging stations which enhances the demand in the vacuum pressure impregnated transformer market. Moreover, the Indian government has implemented the 'FAME' scheme to increase the growth of electric vehicles. Thus, with steady industrialization sector will surely support expanding the market of vacuum pressure impregnated transformer market.

Asia Pacific Vacuum Pressure Impregnated (VPI) Transformer Market:
The Asia Pacific market is expected to increase in the global Vacuum Pressure Impregnated (VPI) Transformer market over the forecast period. It is projected to grow at a significant CAGR in the coming next few years owing to a major contribution in the market demand by increasing population day by day in this region. Moreover, contusions improvement and advancements in electricity distribution further support expanding the vacuum pressure impregnated transformer market in this region. North America is also expected to have a significant growth rate in the Vacuum pressure impregnated (VPI) transformer market over the forecast period owing to have many prominent players in the market.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Vacuum Pressure Impregnated (VPI) Transformer market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The vacuum pressure impregnated (vpi) transformer market is segmented based on phase, voltage range, end user, and geography.
Based on the phase, the market is segmented into the following:
• Single-phase
• Three-phase

Based on the voltage range, the market is segmented into the following:
• Low Voltage
• Medium Voltage

Based on the end user, the market is segmented into the following:
• Industrial
• Commercial
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the vacuum pressure impregnated (vpi) transformer market report are ABB Limited, Bharat Heavy Electricals Limited, CG Power and Industrial Solutions Ltd, Eaton Corporation, General Electric, Instrument Transformer Equipment Corporation, Raychem RPG, Schneider Electric, Siemens AG, and Toshiba Corporation.

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