The Transformer Winding Machines 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 (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Transformer Winding Machines Global Market Report 2024, The transformer winding machines market size has grown strongly in recent years. It will grow from $0.95 billion in 2023 to $1.01 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to upgrading aging infrastructure, increased demand for electricity, growing need for energy-efficient transformers, government initiatives for the adoption of renewable energy, industrialization and infrastructure development.
The transformer winding machines market size is expected to see strong growth in the next few years. It will grow to $1.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing demand for electric vehicles, renewable energy expansion, growing deployment of energy storage systems, electrification of transportation, grid resilience and reliability. Major trends in the forecast period include smart grids and iot integration, automation and robotics, digitization and industry 4.0, customization and flexibility, energy-efficient winding.
The increase in demand for electric vehicles is contributing to the growth of the transformer winding machines market over the coming years. In electric vehicles, the auxiliary battery provides electricity to power the vehicle, and the car charger port is used to connect to an external power source to charge the vehicle. Charging stations are connected to the grid, which requires transformers to efficiently operate the power supply. The increased demand for transformers propels the requirement for transformer winding machines. For instance, according to the annual Global Electric Vehicle Outlook 2022, an annual report published by the International Energy Agency (IEA), an intergovernmental organization, the sales of electric cars including fully electric and plug-in hybrids doubled in 2021 to reach a new record of 6.6 million. In 2021, electric car sales nearly tripled to 3.3 million in China, accounting for about half of the global total. Therefore, the increasing demand for electric vehicles propels the growth of the transformer winding machines market.
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The transformer winding machines market covered in this report is segmented –
1) By Type: Automatic, Semi-Automatic, Manual
2) By Application: Power, Automobile, Electrical, Electronics, Healthcare, Aerospace And Defense, Others
The growing technological advancement is a key trend gaining popularity in the transformer winding machines market. Major companies operating in the transformer winding sector are focused on developing technological solutions for the transformer winding machines market to strengthen their position. For instance, in 2021, BTSR International, an Italy-based manufacturer of electronic sensors for quality control in manufacturing, launched its CWF 2000 device based on multi-patented system technology. Its design and execution enable it to feed the wire consistently and uniformly, regardless of the wire’s speed, which is linked to the machine speed and coil size, as well as the coil section or shape.
The transformer winding machines market report table of contents includes:
- Executive Summary
- Transformer Winding Machines Market Characteristics
- Transformer Winding Machines Market Trends And Strategies
- Transformer Winding Machines Market – Macro Economic Scenario
- Global Transformer Winding Machines Market Size and Growth
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- Global Transformer Winding Machines Market Competitive Benchmarking
- Global Transformer Winding Machines Market Competitive Dashboard
- Key Mergers And Acquisitions In The Transformer Winding Machines Market
- Transformer Winding Machines Market Future Outlook and Potential Analysis
- Appendix
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