U.S. Cast Resin Transformer Market Growth Accelerating at a Rapid Pace due to Innovative Strategies

According to the report published by Allied Market Research, the U.S. cast resin transformer market was pegged at $574.2 million in 2020 and is estimated to hit $1.00 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

Rise in demand for electricity from different end-use industries and increase in adoption of renewable and non-conventional energy sources drive the growth of the U.S. cast resin transformer market. On the other hand, development of solid-state transformers (SSTs) impedes the growth to some extent. However, incorporation of smart grids and digital dry type transformers is expected to create lucrative opportunities in the industry.

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The U.S. cast resin transformer market is analyzed across type, cooling type, phase, voltage, and end use. Based on type, the converter transformer segment contributed to nearly three-fifths of the total market share in 2020, and is expected to lead the trail by 2030. The rectifier transformer segment, on the other hand, would cite the fastest CAGR of 5.9% from 2021 to 2030.

Based on cooling type, the forced air segment accounted for more than three-fifths of the total market revenue in share in 2020, and is anticipated to rule the roost by 2030. The natural air segment would, however, grow at the fastest CAGR of 6.2% from 2021 to 2030.

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Based on phase, the single-phase segment held the major share in 2020, generating 90% of the total market. At the same time, the three-phase segment would cite the fastest CAGR of 7.2% during the forecast period.

The leading market players analyzed in the U.S. cast resin transformer market report include Fuji Electric Co. Ltd., General Electric, Hammond Power Solutions Inc., Hitachi-ABB Ltd., Schneider Electric SE, WEG Group, Olsun Electrics Corporation, Eaton Corporation Plc,  Hanley Energy LLC, and Siemens AG. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.

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COVID-19 Scenario-

  • Significant disruptions in the development of electrical infrastructure and interferences in building construction & maintenance activities across the world impacted the U.S. cast resin transformer market negatively.
  • Nevertheless, as the overall situation across the United States is getting ameliorated, the market is projected to get back on track soon.

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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