Global liquid-immersed transformers market to reach $40.7 B by 2027
The global market for liquid-immersed transformers estimated at $32.1 B in the year 2020, is projected to reach a revised size of $40.7 B by 2027, growing at a CAGR of 3.4 % over the period 2020-2027.
Amid the COVID-19 crisis, power transformers, one of the segments analysed in the report, is projected to record 3.1 % CAGR and reach $23.9 B by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Distribution Transformer segment is readjusted to a revised 4 % CAGR for the next 7-year period.
The Liquid-Immersed Transformers market in the U. S. is estimated at $8.7 B in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of $8.4 B by the year 2027 trailing a CAGR of 6.2 % over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1 % and 2.6 % respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7 % CAGR.
The key players in this market include, among others: ABB Group, Celme Srl, CG Power and Industrial Solutions Ltd., China XD Group, ElSewedy Electric, ELTAS Transformator Sanayi ve Ticaret A. S. and Eremu SA.
Source: Globe Newswire