Press release
Medium Power Transformers Market Growth Accelerates: Strategic Forecast Predicts $34.01 Billion by 2029
Medium Power Transformers Market
What Will the Medium Power Transformers Industry Market Size Be by 2025?
The market size for medium power transformers has experienced consistent growth over recent years. It is projected to increase from $27.23 billion in 2024 to $28.37 billion in 2025, with a compound annual growth rate (CAGR) of 4.2%. The historic growth can be linked to factors such as expansion in electrical distribution, industrialization, technological progress, and regulatory adherence.
What's the Long-Term Growth Forecast for the Medium Power Transformers Market Size Through 2029?
In the ensuing years, the market size for medium power transformers is set to experience consistent expansion. The market is predicted to escalate to a valuation of $34.01 billion by 2029, registering a compound annual growth rate (CAGR) of 4.6%. Factors contributing to this growth during the forecasted period comprise renewable energy harmonization, the rise of digital technologies, the development of electric vehicle charging infrastructure and the shift towards ecologically friendly insulation materials. Leading trends to look out during this period are modernization of the grid, digital doubles and simulation, environment-friendly materials, and improved monitoring systems.
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What Are the Key Growth Drivers Fueling the Medium Power Transformers Market Expansion?
The progress of the market in the historical period was influenced by positive government policies aimed at boosting electrification. Many global nations have established numerous strategies to expand electrification within their borders. Take, for instance, the Indian government's initiative 'Pradhan Mantri Sahaj Bijli Har Ghar Yojana,' aimed at realizing total electrification nationwide. Moreover, in July 2022, the Government of India introduced a restructured power sector scheme for the distribution sector. This particular project is designed to fortify India's renewable energy targets, pledges, and ambitions for green transportation. Consequently, these endeavours have escalated the demand for medium power transformers during the historic period.
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What Are the Key Trends Driving Medium Power Transformers Market Growth?
The market for manufacturing transformers is undergoing shift towards the development of autonomous, self-regulating smart transformers. These smart transformers are designed to continually adjust voltage and remain in communication with stakeholders, offering information and feedback on power supply. They deliver the precise level of power required and adjust to changes using a method referred to as voltage optimization. They greatly lessen power consumption and emissions of greenhouse gases by providing electrical appliances with the optimal power needed. As an example, the US Department of Energy (DOE) gave a $7.5 million investment to support the research and development of smart transformers aimed at grid resilience. Companies are recommended to consider investing in technology to manufacture smart transformers for commercial infrastructures.
How Is the Medium Power Transformers Market Segmented?
The medium power transformers market covered in this report is segmented -
1) By Cooling Method: Oil-Cooled, Air-Cooled
2) By Mounting: Pad, Pole, PC/PCB, Other Mountings
3) By End User: Residential, Commercial, Industrial
Subsegments:
1) By Oil-Cooled: Mineral Oil-Cooled Transformers, Synthetic Oil-Cooled Transformers
2) By Air-Cooled: Natural Air-Cooled Transformers, Forced Air-Cooled Transformers
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Which Companies Are Leading the Charge in Medium Power Transformers Market Innovation?
Major companies operating in the medium power transformers market include Siemens Aktiengesellschaft, General Electric Company, Fuji Electric Co. Ltd., Hitachi Ltd., Schneider Electric SE, Eaton Corporation plc, Mitsubishi Electric Corporation, Jinpan International USA Ltd., CG Power and Industrial Solutions Ltd., Fortune Electric Co. Ltd., Kirloskar Electric Company Limited, Amran Inc., Koncar Distribution and Special Transformers Inc., Hammond Power Solutions Inc., MGM Transformer Company, Schaffner Holding AG, RITZ Instrument Transformers GmbH, Emerson Electric Co., SMA Solar Technology AG, Tianan Electric Group Co. Ltd., RECO Transformers Pvt. Ltd., SPX Transformer Solutions Inc., TBEA Co. Ltd., Toshiba Energy Systems & Solutions Corporation, Transformers and Rectifiers (India) Limited, Triad Magnetics, Voltamp Transformers Limited, Wilson Transformer Company Pty Ltd, ABB Asea Brown Boveri Ltd., Bharat Bijlee Limited, Bowers Electricals Ltd., C&S Electric Limited, Cargill Transformer Materials, Delta Star Inc., ETEL Transformers Pvt. Ltd., Federal Pacific, Pioneer Transformers Ltd., Howard Industries Inc.
Which Regions Are Leading the Global Medium Power Transformers Market in Revenue?
Asia-Pacific was the largest region in the medium power transformers market in 2024. Western Europe is the second-largest region in the medium power transformers market. The regions covered in the medium power transformers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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