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Asia Pacific High Voltage Power Transformer Market Trends

Report ID: GMI6882
Published Date: Oct 2023
Report Format: PDF

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Asia Pacific High Voltage Power Transformer Market Trends

Asia Pacific high voltage power transformer industry experiencing rapid economic growth and urbanization, leading to a rising demand for electricity. This has driven the need for high voltage power transformers to transmit and distribute electricity efficiently over long distances. High voltage power transformers play a crucial role in integrating renewable energy into the grid, as they are used to step up voltage for long-distance transmission. The adoption of smart grid technologies and digitalization has been on the rise. This includes the integration of sensors and monitoring systems in transformers to enhance grid management, reduce downtime, and enable predictive maintenance.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of APAC high voltage power transformer was worth USD 9.5 billion in 2023 and will grow at 7.5% CAGR from 2024 to 2032, propelled by the growing global demand for electricity.

APAC high voltage power transformer market size from the oil immersed cooling segment is set to grow at more than 8.8% CAGR through 2032, owing to the increasing imperative to modernize and substitute aging transformers to improve grid reliability and efficiency.

India high voltage power transformer industry size is poised to witness about 8.2% CAGR through 2032, due to rising grid modernization efforts, including the adoption of smart grid technologies.

Toshiba Energy Systems & Solutions Corporation, Hitachi Energy Ltd., ABB, General Electric, Kirloskar Electric Company, Hyosung Heavy Industries, and DAIHEN Corporation among others.