High Voltage Power Transformer Market Size Anticipated to Reach $12.3 Billion by 2029 | MarketsandMarkets™ [Yahoo! Finance]
GE Aerospace (GE)
Last ge aerospace earnings: 4/30 04:02 pm
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to USD 12.3 billion by 2029, at a CAGR of 6.3% according to a new report by MarketsandMarkets™. High Voltage Power transformers are essential components of electrical infrastructure, facilitating the efficient transmission and distribution of electricity across grids of various scales. These devices are crucial in converting voltage levels to enable electricity transmission over long distances with minimal loss. At their core, these transformers function by inducing changes in voltage through electromagnetic induction, allowing the transfer of electrical energy from one circuit to another. They are integral to the functioning of power systems, enabling the safe and reliable delivery of electricity to homes, businesses, and industries worldwide. The High voltage power transformer market growth is primarily driven by the need to strengthen power distribution networks to keep up with the rising global demand for electricity. Furthermore, the market stands to gain from the increasing ca
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