According to a market report by Lucintel, the future of the global green transformer market looks promising with opportunities in the residential, commercial, industrial, and utility markets. The global green transformer market is expected to reach an estimated $15.1 billion by 2028 with a CAGR of 6.5% from 2023 to 2028. The major drivers for this market are growing usage of renewable energy in the developed countries, increasing government stringent regulations to reduce global warming and on-going advancement in the transformer technology to develop more efficient as well as sustainable transformer designs.
Single phase and three phase are two segments of green transformer market by phase. Lucintel forecasts that three phase will remain the higher growing segment over the forecast period because of the growing demand from the industrial and utility sectors as they are more economical, lighter, and smaller at greater power ratings.
Within this market, industrial will remain the highest growing segment due to rapid industrialization and increasing adoption of these transformers in the industrial sector as it ensures safe, risk-free, and accurate usage of electricity.
APAC will remain the largest region over the forecast period due to growing infrastructure spending to enlarge new and refurbishment of existing grid infrastructure along with significantly growing government’s initiative to expand the connectivity and electricity distribution in this region
GE Grid Solutions, ABB, Alstom, Cahors Group, Schneider Electric, Siemens, General Electric, and WESTRAFO are the major suppliers in the global green transformer market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global green transformer market by installation site, phase, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Green Transformer Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global green transformer market by installation site, phase, end use industry, and region, as follows:
Green Transformer Market by Installation Site [Shipment Analysis by Value from 2017 to 2028]:
Green Transformer Market by Phase [Shipment Analysis by Value from 2017 to 2028]:
Single Phases
Three Phases
Green Transformer Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:
Residential
Commercial
Industrial
Utilities
Green Transformer Market by Region [Shipment Analysis by Value from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
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This report answers the following 11 key questions: Q.1. What are some of the most promising, high-growth opportunities for the global green transformer market by installation site (indoor and outdoor), phase (single phases and three phases), end use industry (residential, commercial, industrial, and utilities), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?