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Green Power Transformer Market Trends

Report ID: GMI6802
Published Date: Sep 2023
Report Format: PDF

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Green Power Transformer Market Trends

Stringent environmental regulations and emissions reduction targets have spurred the development and adoption of eco-friendly transformer technologies. These regulations often require utilities and industries to replace older, less-efficient transformers with more environmentally friendly alternatives. The transformation of power grids into smart grids has been ongoing, and green transformers are a crucial component of this transition. Smart transformers equipped with advanced monitoring and control capabilities help enhance grid resilience and enable better management of power distribution.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of green power transformer was worth USD 1.1 billion in 2023 and will register over 6.9% CAGR from 2024 to 2032, due to the increasing shift towards renewable energy sources such as wind, solar, and hydropower and the rising preference for efficient power transformers worldwide.

The three-phase green power transformer market will register over 0.5% CAGR through 2032, on account of their critical role in managing the flow of electricity to and from energy storage systems while contributing to grid stability and reliability.

Asia-Pacific green power transformer market will record more than 6.5% CAGR between 2023 and 2032, owing to the increasing demand for energy efficiency among governments and utilities in the region.

Siemens Energy, Schneider Electric, Hitachi Energy Ltd., AB, Eaton, GE Grid Solutions, Hyosung Heavy Industries, CG Power and Industrial Solutions, Ormazabal, and Alstom Grid are some of the major green power transformer companies worldwide.