Electrical Transformer Market to reach $49.1 billion by 2021 – Ceskaa Market Research

Transformers are used to transmit the electricity and reduce the power losses during the transmission of power to the end point. The global market for electrical transformer has been growing for the past fiveyears, driven by electricity transmission and distribution network and with expansion of rolling stocks. Electrical transformer market is also growing with replacement of the existing old transformers along with the new installations around the globe. The European region dominates the electrical transformer market followed by Asia-Pacific and North America in terms of value. In the long-term, integrated electric equipment market with smart meters is expected to drive the market for transformers, with increasing demand for renewable energy production and infrastructure expansion in the developing regions.

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