Press release
Vacuum Pressure Encapsulated (VPE) Transformer Market Size, Analysis, Trends, Opportunities 2024-2033
Vacuum Pressure Encapsulated (VPE) Transformer Market
The Business Research Company presents an extensive market research report on the Vacuum Pressure Encapsulated (VPE) Transformer Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The vacuum pressure encapsulated (vpe) transformer market size has grown strongly in recent years. It will grow from $5.21 billion in 2023 to $5.68 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to increasing power demand, aging power infrastructure, government initiatives for grid modernization, focus on renewable energy integration, environmental concerns and regulations .
The vacuum pressure encapsulated (vpe) transformer market size is expected to see strong growth in the next few years. It will grow to $7.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rising investments in energy infrastructure, integration of iot and digitalization, focus on energy efficiency, resilience against harsh environmental conditions, growth of smart grid deployments globally. Major trends in the forecast period include adoption of dry-type transformers, customization and modular designs, development of eco-friendly insulation materials, advanced monitoring and diagnostics, advance equipment.
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Key Market Players:
Major companies operating in the vacuum pressure encapsulated (vpe) transformer market report are Hitachi Ltd, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens Energy AG , ABB Group, Toshiba Corporation, Eaton Corporation, TBEA Co Ltd , Fuji Electric Co Ltd, WEG SA, Bharat Heavy Electricals Limited (BHEL), Hyundai Electric & Energy Systems Co Ltd, Crompton Greaves Limited, CG Power and Industrial Solutions Limited, Hammond Power Solutions Inc, Virginia Transformer Corp, Voltamp Transformers Limited, Kirloskar Electric Company Limited, Matelec Group
Market Drivers:
The growing electricity demand is anticipated to fuel the vacuum-pressure encapsulated (VPE) transformer market. Electricity demand refers to the amount of electrical power being consumed at a given time. It is measured in kilowatts (kW) and represents the rate at which electricity is used. Vacuum-pressure-encapsulated transformers boast excellent mechanical and short-circuit strength, eliminating the risk of fire or explosion and managing electricity by providing effective electrical isolation. For instance, in July 2021, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, global electricity demand is set to increase by 5% in 2021. Further, global electricity generation increased by 2.4% (nearly 700 TWh) in 2022. Therefore, the growing electricity demand is driving the vacuum-pressure encapsulated (VPE) transformer market.
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https://www.thebusinessresearchcompany.com/report/vacuum-pressure-encapsulated-vpe-transformer-global-market-report
The vacuum pressure encapsulated (vpe) transformer market covered in this report is segmented -
1) By Winding: Two Winding, Auto Transformer
2) By Rating: =5 MVA, >5 MVA To = 30 MVA, > 30 MVA
3) By Application: Industries, Inner-City Substations, Indoor Or Underground Substations, Renewable Generation, Other Applications
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