According to a MarketsandMarkets research report titled “Industrial Control Transformer Market by Phase, Power Rating, End-User, and Region - Global Forecast to 2023”, the global market is expected to grow from an estimated $809.2 Million in 2018 to $1,039.8 Million by 2023, at a CAGR of 5.14%. Growth can be attributed to increased usage of industrial control transformers across major industries, booming power sector and augmented power generation capacities worldwide, and need to reduce equipment failure caused by frequent voltage spikes.
Highlights of the Report
- The three-phase segment is expected to hold the largest share of the Industrial Control Transformer Market during the forecast period
- The above 1,500 VA power rating industrial control transformers are expected to grow at a high rate during the forecast period
- Asia Pacific is expected to dominate the Industrial Control Transformer Market during the forecast period
- 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. These players include ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider (France), GE (US), Hubbell (US), Emerson (US), and Rockwell (US).
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