According to the research report titled, ‘North America Transformer Market Forecast 2027 By Product, By Core, By Winding, By Installation, By Cooling, By Insulation, By Phase, By Rating, By Mounting, By Application, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America transformer market is slated to amass notable gains during 2021-2027.
 

Increasing need for advanced grid infrastructure in the region and rising private & public investments towards finding renewable energy sources to cater to the surging energy requirements are propelling the growth of North America transformer market.
 

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In addition, uptake of large-scale mining & exploration activities, important regulatory norms introduced by various governments to ensure proper refurbishment of existing infrastructure and rapid industrialization are positively swaying the industry dynamics.
 

By product type, the industry classification includes distribution transformer, power transformer, instrument transformer, and others. Among these, the power transformer segment is slated to expand substantially through 2027, owing to surging industrial activities which have made manufacturing plant owners switch to electric systems that can manage high voltage capacities.
 

With respect to installation, North America transformer market is classified into outdoor and indoor. The indoor segment is poised to progress considerably over 2021-2027, accreditable to increase in electricity backup requirements throughout the region.
 

On the basis of insulation, the industry is divided into solid, gas, oil, air, and others. Among these, air insulated transformers segment is expected to amplify substantially over the analysis period, creditable to escalating demand for finding renewable energy to generate electricity. Moreover, favorable product characteristics such as easy installation process and removal of spills, along with cooling efficiency in extreme heat conditions are bolstering the segmental growth.
 

Regionally speaking Canada market is projected to showcase lucrative growth trends during 2021-2027, attributable to high investments in steel & cement sectors, coupled with favorable government initiatives to promote the set up of electric vehicle charging stations.
 

Key players operating in North America transformer market are General Electric Company, Ermco Components, Inc., Eaton Corporation plc, Toshiba International Corporation, Schneider Electric SE, Siemens AG, DOS Canada, Inc, Hyosung Heavy Industries Corporation, Atlas Transformer Ltd., Northern Transformer Corporation, SPX Transformer Solutions, Inc., and Hitachi Energy Ltd.