Low Power Transformers Global Market To Reach Value Of About $135.1 Billion In 2023
4 Jan, 2021
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The global low power transformers market was worth $93.6 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 9.61% and reach $135.1 billion by 2023. The low power transformers market was mainly driven by rapid growth in emerging markets
The low power transformers market consists of sales of low power transformers. A low power transformer is a static device that works on the principles of mutual induction to transform power from one circuit to another circuit without changing frequency. Low power transformers manufacturing establishments manufactures power transformers with ratings of 100 MVA to 500 MVA.
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The global low power transformers market is further segmented based on product type, applications and geography.
By Product Type: Split-Core, Solid-Core.
By Applications: Power Plants, Factory, Other.
By Geography: The global low power transformers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Trends In The Low Power Transformers Market
Transformer manufacturing market is moving towards the evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power.
Low Power Transformers Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides low power transformers market overviews, analyzes and forecasts market size and growth for the global low power transformers market, low power transformers market share, low power transformers market players, low power transformers market segments and geographies, low power transformers market’s leading competitors’ revenues, profiles and market shares. The low power transformers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.