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Europe Cast Resin Transformer Market Trends

Report ID: GMI8462
Published Date: Mar 2024
Report Format: PDF

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Europe Cast Resin Transformer Market Trends

The Europe cast resin transformer industry is witnessing a notable growth owing to increasing demand for sustainable energy solutions, which is driving the adoption of eco-friendly transformers. Digitalization and smart grid initiatives enhance efficiency and reliability which promotes the market growth. For instance, The EU unveiled the "Digitalization of the Energy System" plan in late 2022, expecting USD 633 Billion investments by 2030, with USD 184 Billion allocated for grid digitalization.

In addition, stringent energy efficiency regulations promote the deployment of energy-saving transformers. Emerging applications in renewable energy integration and electric vehicle charging infrastructure further stimulate market growth, while innovations in insulation materials and manufacturing processes continue to advance transformer technology in Europe.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of Europe cast resin transformer was reached USD 910.2 million in 2023 and is expected to record a CAGR of 10.7% through 2032, propelled by the increasing emphasis on renewable energy integration and grid modernization initiatives.

Two winding cast resin transformers segment captured about 65% share of the Europe cast resin transformer market in 2023 and is expected to experience considerable growth in the years ahead, due to increasing demand for reliable and efficient power distribution solutions.

UK cast resin transformer industry is projected to be worth over USD 330 million by 2032, driven by increasing investments in renewable energy infrastructure, the expansion of smart grid technologies, and the need for reliable & efficient power distribution systems.

ABB, AM Transformers, Bharat Heavy Electricals Limited, CG Power & Industrial Solutions Ltd., Eaton Corporation, Fuji Electric Co., Ltd, Gea, Hitachi Energy Ltd., Schneider Electric, SGB SMIT, Siemens Energy, TMC Transformers S.P.A, Toshiba Energy Systems & Solutions Corporation are some of the major industry contenders.