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Single phase Transformer Market

Single phase Transformer Market-Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2016 – 2024

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Single Phase Transformer Market size is projected to experience considerable growth prospects from 2016 to 2024. The rapid industrialization accompanied by escalating electricity demands across the world may fuel the single phase transformer market size over the coming years. These devices offer numerous benefits such as high safety over liquid-filled versions. Hence, single phase transformers are likely to witness its prominence and are widely used in marine, mining, oil & gas industrial vectors that have precise voltage requirements due to high fire safety in these industry verticals. The usage of these products in the electricity distribution may further drive the single phase transformer market size during the forecast timeline. These products are commonly used for voltage reduction and power distribution in commercial and residential applications. They ensure high safety against leakage and minimize health & environmental concerns.

Global Market Scenario of Single phase Transformer

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The capability to endure moisture and exhibit improved short circuit strength and impulse in comparison to liquid filled transformers is likely to increase their applications in both industrial as well as domestic applications. An increasing number of renewable energy and grid upgrade projects may positively impact revenue over the forecast timeline. The high cost associated with these devices and the lack of government investments in grid stability may inhibit the single phase transformer market size from 2016 to 2024. Based on the voltage requirements, the industry can be fragmented into medium and low voltage. The low voltage single phase transformer market is predicted to hold a key revenue share owing to their high efficiency and electric shock risk reduction capability. Safety benefits provided by these devices for the users are the reasons for the industry growth in this segment. Based on the technology, the single phase transformer market share can be segmented into cast resin and Vacuum Pressure Impregnated (VPI).

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Methodology

• Definition and scope of research• Market dynamics, growth drivers and industry pitfalls• Regulatory and political guidelines for the industry• Demographics and statistical data

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