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Utility Scale Green Power Transformer Market Trends

  • Report ID: GMI7949
  • Published Date: Jan 2024
  • Report Format: PDF

Utility Scale Green Power Transformer Market Trends

The development and acceptance of eco-friendly transformer technologies have been catalyzed by stringent environmental regulations and emissions reduction goals. These regulations frequently mandate utilities and industries to replace outdated, less efficient transformers with more environmentally sustainable alternatives. The ongoing transformation of power grids into smart grids is a crucial aspect of this transition, with green transformers playing a vital role. Equipped with advanced monitoring and control capabilities, smart transformers contribute to enhancing grid resilience and facilitating improved power distribution management.
 

As nations invest in upgrading their electricity infrastructure, there is a notable deployment of green transformers to modernize aging power grids. This trend is particularly evident in regions where grid resilience and reliability are prioritized. In developing countries, there is a growing emphasis on investing in power infrastructure to meet rising energy demands and mitigate energy losses. Green power transformers are being adopted in these regions to enhance grid efficiency and minimize environmental impact. The emergence of distributed energy resources (DERs), such as rooftop solar panels and small-scale wind turbines, is reshaping power distribution dynamics.

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of utility scale green power transformer was worth USD 580 million in 2023 and is expected to register over 5.9% CAGR from 2024 to 2032, owing to the increasing need for power transformers to effectively transmit and distribute electricity harnessed from renewable energy sources worldwide.

The three phase utility scale green power transformer market size crossed USD 470 million in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, owing to their pivotal role in overseeing the electrical flow to and from energy storage systems.

North America utility scale green power transformer industry is expected to reach over USD 98.7 million by 2032, due to the increasing funding for infrastructure spending proposals in the region.

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 are some of the major utility scale green power transformer companies worldwide.

Utility Scale Green Power Transformer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 11
  • Tables & Figures: 522
  • Countries covered: 25
  • Pages: 350
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