The global industrial control transformer market is projected to reach USD 1.2 billion by 2027 from an estimated USD 0.9 billion in 2022, at a CAGR of 5.0% during the forecast period.
The factors driving the market include increased use of industrial control transformer across major industries, booming power sector, and augmented power generation capacities worldwide, and need to reduce equipment failure caused by frequent voltage spik
The need for industrial control transformers has increased with rising concern for safety in electrical equipment, considerably to prevent the equipment from any accidents.
The global industrial control transformer market reached USD 777.7 Million in 2017. It is projected to reach USD 1.04 Billion by 2023, growing at a CAGR of 5.14% from 2018 to 2023.
The global industrial control transformer market reached USD 777.7 Million in 2017. It is projected to reach USD 1.04 Billion by 2023, growing at a CAGR of 5.14% from 2018 to 2023.
The global industrial control transformer market reached USD 777.7 Million in 2017. It is projected to reach USD 1.04 Billion by 2023, growing at a CAGR of 5.14% from 2018 to 2023.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the industrial control transformer market.
The industrial control transformer market is expected to grow from an estimated USD 809.2 Million in 2018 to USD 1,039.8 Million by 2023, at a CAGR of 5.14%.
The industrial control transformer market is expected to grow from an estimated USD 809.2 Million in 2018 to USD 1,039.8 Million by 2023, at a CAGR of 5.14%.