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Industrial Cast Resin Transformer Market Trends

Report ID: GMI7437
Published Date: Nov 2023
Report Format: PDF

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Industrial Cast Resin Transformer Market Trends

The aging electric infrastructure faces the demand for enhanced performance beyond its original design capabilities. Upgrading grid networks to be "smarter" and more resilient by integrating advanced equipment, technologies, and controls is poised to positively impact the industry's prospects. These integrated units collaborate and communicate, efficiently delivering reliable electricity. They have the potential to significantly decrease both the frequency and duration of power outages, expedite service restoration, and mitigate the impact of storms during outages. Consumers could gain better control over their energy consumption and expenses by accessing data more conveniently.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of industrial cast resin transformer was reached USD 1 billion in 2022 and is projected to record around 9.6% CAGR from 2023 to 2032, owing to the increasing deployment of renewable energy.

The auto transformer segment was worth more than USD 300 million in 2022 and will grow significantly through 2032, owing to its efficient transformation capabilities and operational adaptability, distinguishing it other variants.

North America captured about 20.3% of the industrial cast resin transformer market share in 2022 and will grow significantly through 2032 as the region is witnessing a significant uptick in the demand for electrical products due to increased investments in expanding extensive electricity networks.

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), Raychem RPG Private Limited, Fuji Electric Co., Ltd., WEG, URJA Techniques, TMC Transformers S.P.A., and SGB SMIT.