Power Transformers Market Report 2025 | Revenues to Exceed US$52 Billion by 2033 | Growing Product Uptake in Commercial & Residential Sectors [Yahoo! Finance]
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Source: Yahoo! Finance
The Power Transformer market is expected to reach US$ 52.16 billion by 2033 from US$ 26.87 billion in 2024, with a CAGR of 7.65% from 2025 to 2033. The market is mostly driven by the growing need for electricity in the commercial and industrial sectors to run heavy machinery and electronic appliances, the widespread use of renewable energy, and the growing deployment of smart meters and grids to control and monitor electricity transfers. Growing Product Uptake in the Commercial and Residential Sectors The market is expanding favorably due to the growing demand for electricity in the residential and commercial sectors brought on by population increase, the burgeoning urbanization trend, and substantial economic development. Furthermore, the power transformer market analysis is being driven by the growing electrification of transportation, heating, and cooling in both residential and commercial structures. For example, Servokon Systems Ltd. declared in September 2023 that it wi
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