Transformer Market Growth: Growth fueled by urbanization and rising electricity consumption. 

The transformer market growth is fueled by several factors:

Increasing demand for electricity from industrial, commercial, and residential sectors.

Expansion of renewable energy projects requiring specialized transformers.

Replacement of aging infrastructure and modernization of transmission networks.

Technological advancements, including smart transformers and energy-efficient designs.

Rising investment in smart grids, electric vehicle charging infrastructure, and offshore wind farms are also supporting market growth. As governments worldwide emphasize sustainable energy solutions, the transformer market is positioned for continued expansion.