Market Size of Europe Transformer Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Transformer Market Analysis
The Europe transformer market is expected to rise at a CAGR of more than 2.5% during the forecast period of 2020-2025. Factors such as increasing energy demands from the industries and upgrading old transmission and distribution systems are likely to drive the Europe transformer market. However, fluctuations in the price of raw material needed for the manufacturing of transformers are expected to restrain the Europe transformer market.
- Distribution transformer, due to the increasing number of industrializations across the region and supplying its power to consumers by connecting to the grid, is expected to be the largest growing segment for the Europe transformer market during the forecast period.
- A smart grid is seen as a highly efficient and economical technology that can reduce carbon emissions. Such up-gradation for now exiting networks in the region can create several opportunities for the Europe transformer market in the future.
- Due to its increasing demand for electricity and the rising renewable energy installation and connecting them in the country's grid, Germany is expected to be the fastest-growing market for Europe transformers.
