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Europe Transformer Market Trends

Report ID: GMI6687
Published Date: Sep 2023
Report Format: PDF

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Europe Transformer Market Trends

The transformer market in Europe is poised for Prominent growth due to the shifting trends toward energy-efficient technologies. The Transmission and Distribution (T&D) retrofitting sector plays a pivotal role in bolstering the demand for transformers across the region. The increasing demand for electricity will have a substantial impact on investments in the European T&D retrofitting industry, consequently influencing the size of the transformer market. Additionally, the integration of sustainable technologies into the grid has led to the expansion of microgrid networks. The favorable perspective on renewable energy integration, supported by regulatory efforts to establish a sustainable energy mix, will be a driving force behind the market growth.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market valuation of transformer in Europe was reached USD 10.3 billion in 2023 and is projected to grow at a CAGR of 8.7% through 2032, favored by the growing deployment of renewable energy.

The closed core segment was valued at USD 2.9 billion in 2022 and will continue to grow owing to their ability to facilitate the integration of renewable energy sources while maintaining long-lasting and efficient operational lifespans.

The residential application is set to register at a 9.7% CAGR between 2023 and 2032, influenced by rapid urbanization and supportive government initiatives that encourage the integration of renewable energy into residential areas.

Elsewedy Electric, Eaton, CG Power & Industrial Solutions Ltd., IMEFY GROUP, Ormazabal, ARTECHE, Pfiffner Group, Kirloskar Electric Company, DAIHEN Corporation, Hyosung Heavy Industries, and Celme S.r.l. among others.