Market Size of North America Transformer Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 8.86 Billion |
| Market Size (2029) | USD 11.54 Billion |
| CAGR (2024 - 2029) | 5.41 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Transformer Market Analysis
The North America Transformer Market size is estimated at USD 8.86 billion in 2024, and is expected to reach USD 11.54 billion by 2029, growing at a CAGR of 5.41% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing energy demands from the industries and upgrading old transmission and distribution systems are likely going to drive the North America transformer market.
- On the other hand, delay in the implementation of the projects is expected to restrain the North America transformer market.
- Neverthless, a smart grid is seen as a highly efficient and economical technology that is able to reduce carbon emissions into the environment. Such upgradation for now existing networks in the region can create several opportunities for the North America transformer market in the future.
