Global Power Transformer Market – By Rating (Small, Medium, Large), By Output Voltage (Step-Down, Step-Up), By Core Materials (Solid Iron/Steel, Silicon Steel, Amorphous Steel), By Cooling/Insulation (Dry-Type, Liquid Filled), By Region, By Country: An Analysis (2017-2022) says the demand of electricity is rising with the growing population and industrialization. This has increased the number of power plants globally and the electricity generation capacity. At the same time, world requires a sustainable, reliable and affordable energy which has driven the growth in renewable energy integration and smart grids. These factors will escalate the demand of power transformers during the forecast period. Replacement of aging infrastructure, expansion of transmission and distribution network, new technologies in power sector will also drive the market in future.