Power Transformer Market Size & Growth Research Report - 2031 Overview Power Transformers: The Backbone of Power Grids Power transformers are essential components of the electrical power grid, responsible for stepping up or stepping down voltage levels to facilitate efficient power transmission and distribution. The power transformer market growth is driven by factors such as increasing global energy demand, rapid urbanization, and the growing adoption of renewable energy sources. Market Drivers: Fueling the Growth of the Power Transformer Market Several factors are driving the growth of the power transformer market: Increasing global energy demand: The rising global energy demand , particularly in emerging economies, is driving the need for efficient power transmission and distribution infrastructure. Expansion of power grids: The expansion of power grids to meet the increasing energy demand requires the deployment of new power transformers. Growth of renew...