Market Size of United States Power Transformer Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 1.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Power Transformer Market Analysis
The United States power transformer market is expected to rise at a CAGR of more than 1% during the forecast period.
The market was negatively impacted by COVID-19. Presently the market has now reached pre-pandemic levels.
- Over the long term, factors such as the increasing deployment of three-phase transformers are expected to drive the market.
- On the other hand, the installation cost and logistics difficulty of power transformers in the country is expected to restrain the market's growth.
- Nevertheless, increasing advancements in the power transformers technology coupled with the use of Internet-of-things is expected to provide ample opportunity to the market players in the forecast period.
