POWER TRANSFORMER MARKET ANALYSIS

Power Transformer Market, By Power Rating (100 MVA to 500 MVA, 501 MVA to 800 MVA, and 801 MVA to 1200 MVA), By Phase (Single and Three), By Application (Residential & Commercial, Utilities, and Industrial), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

In June 2023, HD Hyundai Electric Co. Ltd secured a USD 164 million deal with a U.S.-based energy firm, Xcel Energy, to supply electric power transformers. This contract marks a significant development in the power infrastructure sector, reflecting key trends in the evolving energy landscape.
In April 2023, Siemens Energy, Dragados Offshore, and TenneT entered into an agreement to advance renewable energy infrastructure in Europe, focusing on high-voltage direct current (HVDC) transmission technology. This collaboration represents a critical step forward in the region's energy development.
In November 2022, Transmission Developers Inc. commenced the construction of the Champlain Hudson Power Express transmission line, which will deliver clean energy from Hydro-Québec in Canada to New York City. Upon completion in the spring of 2026, the transmission line is expected to provide 1,250 MW of clean hydroelectricity, powering over one million homes.