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Global Power Transformers Market to Reach $32.6 Billion by 2026 Transformers play a pivotal role in the generation, transmission and distribution (T&D) of electricity. Growth in the global market is steered by rising demand for electricity and the resulting new power projects coupled with expansion of the T&D network. The urgent need to replace and upgrade aging power infrastructure in the developed countries, growing prominence of renewable energy, expansion and interconnection of grid infrastructures, and exponential increase in power consumption in both developed and developing countries requiring efficient management of electricity transmission and distribution represent important factors driving growth In addition, efficient transformer designs that use amorphous magnetic materials as cores are likely to experience an increasing adoption in the coming years owing to their ability to reduce noise and iron losses, while exhibiting extended service life. Amid positive GDP scenario

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