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Asia Pacific Cast Resin Transformer Market Analysis

  • Report ID: GMI7288
  • Published Date: Nov 2023
  • Report Format: PDF

Asia Pacific Cast Resin Transformer Market Analysis

 Asia Pacific Cast Resin Transformer Market Size, By Winding, 2021 - 2032 (USD Million)

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Based on winding, the auto transformer market valuation to crossed USD 245 million in 2022, owing to its exceptional transformation capabilities and operational versatility, distinguishing it from its competitors. Crucial factors like its compact unit design, cost-efficiency, and enhanced effectiveness play a pivotal role in driving the adoption of this product. Additionally, the integration of smart monitoring technologies has not only enhanced product reliability but has also increased their cost-effectiveness, thereby bolstering business expansion.

Based on rating, the market for transformers with a capacity of 5 MVA or less is poised for substantial growth due to their wide-ranging utility in diverse applications, spanning from process industries to power and infrastructure sectors. This growth is further propelled by the swift adoption of renewable energy sources in residential settings and the rapid expansion of micro-grid networks. The industry is witnessing an increasing demand for compact indoor transformers, which aligns with the cost-conscious preferences of consumers. Manufacturers are actively responding to this demand by integrating sustainable production methods.

Asia Pacific Cast Resin Transformer Market Revenue Share, By Application, 2022

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The industries application is set to grow at a CAGR of over 8.1% through 2032, driven by the growing emphasis on integrating extensive frequency distribution networks and the escalating concerns surrounding energy efficiency. Additionally, the demand for dry-type transformers is poised to experience a substantial upswing, particularly with the rising requirement for ultra-high voltage networks. The industry's growth prospects will receive a significant boost from the increased investments made by both private and governmental organizations in developing countries for electrification programs.

China Cast Resin Transformer Market Size, 2021 - 2032 (USD Million)

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The Asia Pacific cast resin transformer market across the China held a revenue share of over 44.6% in 2022. China has been experiencing significant industrialization and urbanization, which has driven the demand for electrical infrastructure and cast resin transformers. These transformers are crucial for various industries and urban development projects. China has been actively working on integrating renewable energy sources like wind and solar into its power grid. Cast resin transformers are essential for distributing power from these sources. The industry has been experiencing technological advancements, such as the development of smart grid systems and intelligent monitoring for transformers.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

Asia Pacific market for cast resin transformer was worth USD 833.2 million in 2022 and is projected to expand at 10.3% CAGR from 2023 to 2032, driven by the significant advancements in the traditional technologies and the expansion of grids in the region.

Asia Pacific cast resin transformer market from the auto transformer segment generated more than USD 245 million in 2022 and is likely to witness high demand through 2032, owing to its exceptional transformation capabilities and operational versatility.

China cast resin transformer industry accounted for more than 44.6% revenue share in 2022 and is estimated to record robust growth through, 2032 owing to the ongoing industrialization and urbanization and the increasing adoption of renewable energy in the nation.

Some of the major cast resin transformer manufacturers are ABB, GE, Eaton, Schneider Electric, Siemens Energy, Hitachi Energy Ltd., CG Power & Industrial Solutions Ltd., Toshiba Energy Systems & Solutions Corporation, Bharat Heavy Electricals Limited (BHEL), Fuji Electric Co., Ltd., and SGB SMIT, among others.

Asia Pacific Cast Resin Transformer Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 218
  • Countries covered: 4
  • Pages: 150
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