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NEW YORK , Aug. 17, 2022 /PRNewswire/ -- Medium voltage transformers are those that have a primary voltage in the range of 1,000 volts (V) to 33 kV. The secondary voltage of medium voltage transformers is in the range of 100 kV to 1,000 V AC. These transformers are used for various purposes such as power generation, transmission, and distribution.
The medium voltage transformer market size is expected to grow by USD 3.76 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 3.92% during the forecast period.
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The medium voltage transformer market report covers the following areas:
ALCE Electric Industry and Trade Inc., Eaton Corp. Plc, EFACEC Power Solutions SGPS SA, Emerson Electric Co., General Electric Co., Hammond Power Solutions Inc., Hitachi Ltd., Hubbell Inc., Kirloskar Electric Co. Ltd., MGM Transformer Co., Ningbo Tianan Group Co. Ltd., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, TWB SA, and WEG Equipamentos Eletricos SA are among some of the major market participants. The key offerings of a few of these vendors are listed below:
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The growing investments in electric power systems and in the development of smart grids are driving the growth of the market. The demand for medium voltage transformers is expected to increase during the forecast period. These transformers are needed for protective relays to protect electrical equipment and metering devices.
Poor financial health of the power sector in markets such as India and Pakistan is challenging the growth of the market. The GDP debts in India and Pakistan have increased due to losses incurred by power generation and distribution companies. Power distribution companies need to invest in medium voltage transformers for protecting and metering assets. Such factors may hinder the growth of the market during the forecast period.
Medium Voltage Transformer Market 2022-2026:Segmentation
The dry medium voltage transformers segment will contribute the highest market growth during the forecast period. These transformers are mainly used for the distribution of power for residential, industrial, and commercial purposes. The use of eco-friendly materials has increased, which drives the global market for dry medium voltage transformers.
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Medium Voltage Transformer Market Scope
Accelerate at a CAGR of 3.92%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, Japan, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
ALCE Electric Industry and Trade Inc., Eaton Corp. Plc, EFACEC Power Solutions SGPS SA, Emerson Electric Co., General Electric Co., Hammond Power Solutions Inc., Hitachi Ltd., Hubbell Inc., Kirloskar Electric Co. Ltd., MGM Transformer Co., Ningbo Tianan Group Co. Ltd., Schneider Electric SE, Siemens AG, SMA Solar Technology AG, TWB SA, and WEG Equipamentos Eletricos SA
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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