Transformers Market Overview The transformers market was valued at $58.6 billion in 2021, and is estimated to reach $103.0 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031. A transformer is an electrical device that is used to transfer electrical energy from one circuit to another by means of electromagnetic induction. …
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Asia-Pacific is expected to lead the transformers market, attributable to increase in investments for infrastructure development. With surge in demand for power supply and rise in number of projects related to electricity, new entrants in Asia-Pacific and LAMEA are witnessing lucrative opportunities to expand their business in the coming future. In addition, increase in urbanization, …
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