Global distribution transformers market to reach $19.7 B by 2027
Amid the COVID-19 crisis, the global market for distribution transformers estimated at $17. 4 B in the year 2020, is projected to reach a revised size of $19.7 B by 2027 growing at a CAGR of 1.8% over the period 2020-2027.
The distribution transformers market in the US is estimated at $4.7 B in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of $3.8 B by the year 2027 trailing a CAGR of 3.5 % over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.2 % and 1.4 %, respectively, over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.7 % CAGR.
The 376-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Key market players include: Astor Transformer A.S., Bowers Electricals, Emerson Electric Co., Harmonics Limited, Jefferson Electric, KONČAR Elektroindustrija d.d., Marsons Limited, Mitsubishi Electric Corp., SGB-SMIT Group, Siemens AG, VanTran Industries Inc., and Wilson Power Solutions, among others.
The regions covered in this report are: North America, Latin America, Europe, Asia-Pacific, and Middle East and Asia.
Source: Globe Newswire