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Three Phase Green Power Transformer Market Trends

  • Report ID: GMI7957
  • Published Date: Jan 2024
  • Report Format: PDF

Three Phase Green Power Transformer Market Trends

The advancement and widespread acceptance of environmentally friendly transformer technologies have been spurred by stringent environmental regulations and goals for reducing emissions. These regulations often require utilities and industries to replace outdated and less efficient transformers with alternatives that are more environmentally sustainable. The ongoing shift of power grids towards smart grids is a pivotal element of this transition, and green transformers play a crucial role in this process. Smart transformers, equipped with advanced monitoring and control capabilities, contribute significantly to enhancing grid resilience and enabling improved power distribution management.
 

The rise of distributed energy resources (DERs), such as rooftop solar panels and small-scale wind turbines, is reshaping power distribution dynamics. Green transformers are specifically designed to manage bidirectional power flows, effectively integrating DERs into the grid. The electrification of transportation, including the growing prevalence of electric vehicles (EVs) and the associated charging infrastructure, is leading to an increased demand for electricity. This shift may necessitate transformer upgrades to accommodate the additional load and optimize energy distribution.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of three phase green power transformer was reached USD 874.2 million in 2023 and is estimated to expand at over 5.4% CAGR from 2024 to 2032, driven by the global shift towards renewable energy sources, encompassing wind, solar, and hydropower.

The 100 kVA - 500 kVA segment recorded more than USD 274 million in 2023 and is estimated exceed USD 470 million by 2032, owing to the ongoing global initiatives aimed at modernizing power grids.

Asia Pacific three phase green power transformer industry is projected to generate more than USD 390.6 million by 2032, propelled by the growing global demand for electricity.

Major companies operating in the three phase green power transformer market are ABB, Alstom Grid, CG Power and Industrial Solutions, Eaton, GE Grid Solutions, Hitachi Energy Ltd., Hyosung Heavy Industries, Ormazabal, Schneider Electric, Siemens Energy, and WESTRAFO SRL.

Three Phase Green Power Transformer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 11
  • Tables & Figures: 522
  • Countries covered: 24
  • Pages: 350
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