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Global Medical Power Supply Market Is Projected To Grow

The Medium Power Transformers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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Medium Power Transformers Market Growth, Share, Industry Outlook and Forecast2033 (thebusinessresearchcompany.com)

According to The Business Research Company’s Medium Power Transformers Global Market Report 2024, The medium power transformers market size has grown strongly in recent years. It will grow from $33 billion in 2023 to $34.88 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to electrical distribution growth, industrialization, technological advancements, regulatory compliance.

The medium power transformers market size is expected to see steady growth in the next few years. It will grow to $42.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to renewable energy integration, digital technologies, electric vehicle charging infrastructure, transition to eco-friendly insulation materials. Major trends in the forecast period include grid modernization, digital twins and simulation, eco-friendly materials, advanced monitoring.

Favorable government policies to increase electrification contributed to the growth of the market in the historic period. Countries around the world are implementing several initiatives to increase electrification across the countries. For example, the government of India launched the ‘Pradhan Mantri Sahaj Bijli Har Ghar Yojana’ to achieve 100% electrification in the country. For instance, in July 2022, Government of India, launched power sector’s revamped distribution sector scheme. This project will strengthen India’s renewable energy goals, commitment, and green transportation aspirations. These initiatives increased the market for medium power transformers in the historic period.

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The medium power transformers market covered in this report is segmented –

1) By Cooling Method: Oil-Cooled; Air-Cooled

2) By Mounting: Pad; Pole; PC/PCB; Other Mountings

3) By End User: Residential; Commercial; Industrial

The medium power transformers market report table of contents includes: