The Europe Power Transformer Market would witness market growth of 6.5% CAGR during the forecast period (2022-2028).
A power transformer operates on the basis of Faraday’s law of induction. This describes the power network in the places where every gear linked to the system is created as per the rates prescribed by the power transformer. The two main categorizes of power transformers are electronic power transformers (1 to 3 phase) and electric utility power transformers. Utility transformers are completely AC sine wave transformers.
In contrast, electronic power transformers provide power to the electronic circuit. The weight and size of the power transformers depend on various factors. These factors comprise maximum ambient temperature, desired power rating, cooling method (air or liquid-cooled, natural convection or forced), allowable temperature rise, transformer size, operating frequency, required voltage regulation, primary ingredients, and operating frequency.
The Climate Change Act of 2008, which mandates that Government reduce greenhouse gas emissions by at least 34% by 2020 and 80% by 2050 - below the 1990 baseline, set and meet five-yearly carbon neutrality for the UK during that period and requires that those carbon budgets be set three budget periods ahead of time - so that it is always clear whatever the UK's emissions will be, is the cornerstone of Government's strategy to avoid the risk of dangerous climate change. Such plans by the Government to reduce carbon emissions would support the adoption of technologies that produce less carbon. Thus, the power transformer market would witness growth in Europe region during the projection period.
The Germany market dominated the Europe Power Transformer Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,008.1 Million by 2028. The UK market is anticipated to grow at a CAGR of 5.6% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 7.3% during (2022 - 2028).
Based on Insulation, the market is segmented into Oil, Gas, Air, Solid and Others. Based on Application, the market is segmented into Industrial, Residential & Commercial and Utilities. Based on Rating, the market is segmented into 100 MVA to 500 MVA, 501 MVA to 800 MVA and 801 MVA to 1,200 MVA. Based on Phase, the market is segmented into Three and Single. Based on Core, the market is segmented into Shell, Closed and Berry. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Power Transformer Market will Hit $33.7 Billion by 2028, at a CAGR of 6.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Toshiba Corporation, ABB Group, General Electric Company, Siemens Energy AG, Alstom SA, Mitsubishi Electric Corporation, Hyosung Heavy Industries Corporation, CG Power & Industrial Solutions Ltd. (Murugappa Group), Hyundai Construction Equipment Co., Ltd. (Hyundai Heavy Industries Co., Ltd.), and Bharat Heavy Electricals Ltd.
By Insulation
By Application
By Rating
By Phase
By Core
By Country
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