According to the recent research report titled ‘North America Power Transformer Market Forecast 2027 By Mounting, By Core, By Cooling, By Insulation, By Installation, By Rating, By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’ available with MarketStudyReport, North America power transformer market is predicted to show remunerative results by 2027.

The major factors driving the North America power transformer market growth are rising investments in the renewal of power grid infrastructure, increased focus on energy storage technologies, supportive regulatory policies addressing frequent power outages, and rapid industrialization.

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It is worth noting that the work from home and online learning trends have increased the pressure on electricity infrastructure since the start of the pandemic. At the same time, the region’s cement, petrochemical, and mining industries are consuming an increasing amount of energy, thus impelling the demand for advanced power transformers in North America.

The increased in-house captive power demand is high due to ongoing energy project investments. The installation of these items is expanding as their usefulness in high and medium voltage requirements expands. End-users are embracing these items in higher numbers than in pre-pandemic times since they reduce losses and take up less room.

The North America power transformer market is segmented on the basis of mounting type, core type, cooling temperatures, insulation type, installation ty[e, rating type, application reach, and regional landscape.

By core, this business space is divided into the berry, closed, and shell-type segments. The cooling type is further split into oil-immersed and dry type cooling segments. The insulation segment of the market is bifurcated into air, oil, gas, solid, and others.

As per mounting type, the market is bifurcated into pad, pole, PCB/PC, and others. The pad-mounted segment in North America power transformer market is predicted to progress at a steady rate during the forecast duration as the demand for energy-efficient products has been on a constant rise.

The application reach of this industry landscape involves industrial, residential, commercial, and utility markets.

The regional landscape of North America power transformer market consist of U.S and Canada. Among these, the U.S market is expected to register considerable growth through the forecast duration due to rising electric consumption.

The competitive landscape of North America power transformer market is defined by companies such as DOS Canada Inc, SPX Power transformer Solutions Inc., Hitachi ABB Power Grids, Atlas Power Transformer, Hyosung Heavy Industries, Northern Power Transformer, Toshiba International Corporation, Siemens AG, Schneider Electric, General Electric Co., Eaton Corp., and Ermco ECI.