According to a new report, published by KBV research, The Global Converter Transformer Market size is expected to reach $4.4 billion by 2028, rising at a market growth of 13.4% CAGR during the forecast period.
The Grid Connections segment acquired maximum revenue share in the Global Converter Transformer Market by Application in 2021, thereby, achieving a market value of $2.11 billion by 2028, Due to the rising electricity generation costs, and rising demand for power are among the top priorities that drive the need for smart grids. Smart power networks with converter transformers, as well as smart meters and appliances, ensure that energy is distributed consistently and efficiently.
The 201-400 Kv segment is showcasing a CAGR of 13.8% during (2022 - 2028). Due to the high-voltage step-up power distribution module that is often used in electronics demonstrations and experiments. From a 3-6V input from a standard Li-ion battery, the module can create a voltage of 201- 400KV. The Tesla coil principle is used in the high-voltage module.
The Asia Pacific market dominated the Global Converter Transformer Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.66 billion by 2028. The Europe market is estimated to witness a CAGR of 13% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 12.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/converter-transformer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Siemens AG, General Electric (GE) Co., Toshiba Corporation, Mitsubishi Electric Corporation, Kirloskar Electric Co. Ltd., CG Power & Industrial Solutions Ltd., Bharat Heavy Electricals Ltd., and Xi'an Xidian Transformer Co., Ltd.
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