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Asia Pacific Cast Resin Transformer Market Trends

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

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Asia Pacific Cast Resin Transformer Market Trends

The aging electric infrastructure is facing the growing need for enhanced operations beyond its original design. The transformation of grid networks into a "smarter" and more resilient system through the incorporation of advanced equipment, technologies, and controls offers a positive business outlook. These units collaborate and communicate to deliver electricity more efficiently, significantly decreasing the duration and frequency of power outages, expediting service restoration, and minimizing the impact of storms during outages. This modernization empowers consumers to better manage their energy consumption and costs by providing easier access to energy data.

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.