Transformers - Electrical Steel Market Statistics
The global transformers electrical steel market size was valued at US$ 14,939.1 million in 2023 and is estimated to grow at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2030.
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Transformers - Electrical steel market highlights
- The global transformers segment generated a revenue of USD 14,939.1 million in 2023 and is expected to reach USD 20,764.5 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4.9% by 2030.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Turkey is expected to register the highest CAGR from 2024 to 2030.
Market summary
| Market revenue in 2023 | USD 14,939.1 million |
| Market revenue in 2030 | USD 20,764.5 million |
| Growth rate | 4.9% (CAGR from 2024 to 2030) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
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