#Growth

Rising electrification, renewables, and industrial growth drive transformer market toward $89.34B globally by 2030, led by APAC and EMEA.

KONČAR Group’s Q1 order book rose to $2.44 B (€2.15 B), with a net profit of $74 M (€65.1 M).

The global transformer core market size is expected to reach 12.7 B, growing at a CAGR of 3.1 % between 2025 and 2034

Tracy Wilson-Long is px Group’s new Managing Director Power & Renewables

A sales increase of around 9.5 percent and significant investments lay a stable foundation for further sustainable global growth and structural realignment.

Croatia, Zagreb: Croatian electrical equipment manufacturer KONČAR Group has published its business results for Q1 2023.

The global market for distribution transformers estimated at $18.1 B in 2022, is estimated to reach $27.8 B by 2030, growing at a CAGR of 5.5 %.

According to a report by Allied Market Research, the global transformers market industry is anticipated to generate $102.96 B by 2031.

According to a new report by Vantage Market Research, the global smart transformers market, valued at $2.19 B in 2021 is projected to reach $4.55 B by 2028.

The power transformers market size is set to surpass $35 B by 2032, according to a new research report by Global Market Insights Inc.

The Power Transformers Market, valued at $34.6 B in 2022, is about to undergo substantial growth according to a recent market research report.

A high demand for transformers is creating new growth frontiers in the transformer market.

KONČAR Group, Croatian power engineering company, ends Q3 2022 with $84.4 M growth in consolidated income from the sales of products and services year-on-year.

The global DC power supplies market reached a value of $400 M in 2021.

The global pad mounted transformer market is expected to register a CAGR of more than 3 % during the forecast period of 2022–2027.

The global instrument transformers market is expected to grow from $7.61 B in 2021 to $8.17 B in 2022 at a CAGR of 7.4 %.

According to a recent study by Global Market Insights Inc., the digital substation market is expected to record $10.5 B revenue by 2028.

The global high power transformers market is expected to grow from $13.62 billion in 2021 to $16.51 billion in 2022 at a CAGR of 21.3%.

The global gas insulated transformer market is valued at $2.3 B in 2020, and it is anticipated to reach $3.1 B by 2027, at a CAGR of 4.75 % during 2022-2027.

According to a report by Allied Market Research, the global transformer core industry was estimated at $8.9 B in 2020, and is expected to reach $13.5 B by 2030.

Distribution transformers market size that was estimated at $16.57 B in 2020 is projected to grow at a CAGR of 6.80 % from 2021 to 2029 and reach $27.90 B by 2028.

India: Hitachi Energy India has reported a 10 % year-on-year growth in order inflows during the quarter ending 30 September 2021.

Mexico, Tijuana: MGM has announced the expansion of their low voltage distribution transformer factory in Tijuana, Mexico.

Italy, Vicenza: The company has reported the growth in turnover since 2018, attributing the success to the renewable energy transition.