Industrial Control Transformer Market Size

Statistics for the 2023 & 2024 Industrial Control Transformer market size, created by Mordor Intelligence™ Industry Reports. Industrial Control Transformer size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Industrial Control Transformer Industry

Industrial Control Transformer Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR > 3.50 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Industrial Control Transformer Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Industrial Control Transformers Market Analysis

The industrial control transformer market is expected to grow at a CAGR of around 3.5% during the forecast period. Factors such as the increasing number of industries (such as chemical, and metal and mining), and the demand to reduce equipment failure on account of frequent voltage fluctuations are likely to drive the market, especially in the emerging economies. However, due to the outbreak of COVID-19, slow down, or delay of different industrial projects are likely to hinder the market growth during the forecast period.

  • With significant global capital spending during 2018 and increasing demand for chemicals in multiple industries, it is expected that the chemical industry is likely to witness significant growth during the forecast period.
  • The government of the United Arab Emirates (UAE) is concentrating on having a higher share of the manufacturing sector in its country's GDP. With its shrinking prospects for investment in the oil & gas industry, the country is planning to diversify its business to other business segments, such as manufacturing. For instance, the Abu Dhabi Economic Vision 2030 aims to grow the non-oil sector by more than 7.5% annually to help the country achieve a neutral non-oil trade balance. This, in turn, is expected to create an opportunity for the industrial control transformer market in the near future.
  • Asia-Pacific is likely to dominate the market during the forecast period, with the majority of the demand coming from China, India, Japan, and South Korea.

Industrial Control Transformer Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)