Pune, India, January 9, 2023 (GLOBE NEWSWIRE) —

The globe transformer market The size is increasing due to the growing need for energy efficient power distribution systems. Government guidelines to minimize energy waste to promote market growth. In addition, increasing innovation for centralized power distribution grid and new developments in power distribution infrastructure are expected to accelerate the market growth. Fortune Business Insights presents this information in its report titled “Transformers Market, 2022-2029.”

A transformer is typically a passive component or static electrical machine. It transmits and distributes electricity from one network to another circuit. The transformer is the most critical or important part of the power distribution ecosystem and it is able to maintain a constant power distribution.

Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/transformers-market-106061

Effects of COVID-19:

The COVID-19 pandemic has slightly slowed down the market growth

The COVID-19 pandemic has stunted the progress of the global transformer market. The significant decline in construction activity and the associated delays in network expansion also had an impact on market growth. Reduced energy demand was seen during the pandemic, limiting market opportunities.

The report lists the major players profiled in the market report:

• Mitsubishi Electric Corporation (Japan)
• Daihen Corporation (Japan)
• Toshiba Corporation (Japan)
• Schneider Electric 9 (France)
• General Electric (USA)
• Eaton Corporation (USA)
• ABB AG (Switzerland)
• Elsewedy Electric (US)
• CG Power and Industrial Solutions (India)
• Kirloskar Electric (India)
• Raychem RPG 9 (India)
• IMEFY Group (Spain)
• Siemens AG (Germany)
• Hyosung Power & Industrial Systems (Korea)
• TRENCH Group (Canada)
• KOTSONS Pvt. ltd (India)
• Banmore Electricals Pvt Ltd. (India)

To learn more about the short- and long-term impact of COVID-19 on this market,…