Global power transformer market is expected to surpass $37 billion by 2026, as reported in the latest market study by Global Market Insights, Inc.

Growing government investment toward incorporation of renewable energy sources along with investments in the expansion of transmission networks is boosting the demand for power transformers.

Air insulated transformers units have gained significant industry penetration owing to their flexible product configurations and reliable & safe operations.

100 MVA - 500 MVA transformer units will observe growth due to their low installation cost, extensive demand across electric power, oil & gas and healthcare industries and compact size.

Outdoor power transformer market demand in anticipated to grow at a rate of over 5% by 2026. Rapid development of cross-border grid infrastructure in line with establishment of ultra-high-power HVAC & HVDC transmission technology for long route transmission will further encourage the product demand.

Major market participants profiled in the report include Siemens, ABB, GE, Schneider Electric, Toshiba, Mitsubishi, SPC, Hammond Power Solutions, Voltamp, Crompton Greaves, Hyundai Heavy Industries, Hyosung, BHEL, and Kirloskar Electric, amongst others.

Source: Global Market Insights