The substantial increase in electricity demand will drive the development of transmission and distribution networks, thereby boosting the market's demand for power transformers and distribution transformers. In addition, the process of urbanization and industrialization has accelerated, and new power transformers and distribution transformers have also begun to be deployed in emerging markets, especially the developing markets represented by China and India.
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Not only that, mature European and American developed markets also have a lot of demand, because the existing transmission and distribution systems are gradually aging or obsolete, and the large-scale development of smart grids requires a new generation of power transformers and distribution transformers to support their power grid upgrades.
In the past decade, the rapid development of infrastructure has led to a significant increase in global power demand. With population growth, the shift of rural population to cities and towns has also created unprecedented demand for reliable global power supply systems. Therefore, during this period, transformer demand has also experienced substantial growth.
However, the power infrastructure in developed North America and Europe is maturing, and the demand for transformers in these regions also tends to stabilize. However, the demand for transformers in Asia Pacific, South America, the Middle East, and Africa has a considerable growth rate, especially among BRIC countries such as China, India, and Brazil that are undergoing electrification. Not only that, social awareness of low-carbon environmental protection and a large amount of R&D investment have made power transformers and distribution transformers develop in a sustainable direction. 