Transformer Market

  Market Scenario Market Research Future (MRFR), in its latest  transformer market size  2020, reveals different governing factors of the market. An in-depth study of the impact of COVID 19 on the transformer market is supplemented with the report. As per MRFR study, the expansion of the transformer market can thrive at 7.43% CAGR across the forecast period. The increase in the transformer market value from USD 39,316.8 Million to USD 64,514.9 Million from 2017 to 2023 is observed. The rise in application of transformer in diverse subject area can bolster the rise of the market across the analysis period. The increase in need for distribution transformer and power transformer can promote the expansion of the transformer market across the analysis period. The increase in the application of transformer in renewable and non-renewable energy market can support the expansion of the market across the analysis period. In recent years, the rise in the need for effective distribution of electri