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The low power transformers market has witnessed robust growth, escalating from $43.56 billion in 2023 to $47.19 billion in 2024, marking an impressive Compound Annual Growth Rate (CAGR) of 8.3%. The historical growth is attributed to factors such as electrical distribution, infrastructure development, technological advancements, and regulatory compliance. Looking ahead, the market is poised for strong growth, reaching $61.79 billion by 2028, with a projected CAGR of 7.0%. This growth in the forecast period is fueled by key drivers like renewable energy integration, electrification trends, digital technologies, and the expansion of electric vehicle charging infrastructure.

Key Trends Shaping the Future

• Smart Grids: Integration of smart grid technologies for efficient energy distribution.
• Eco-friendly Materials: Increasing adoption of environmentally friendly materials in transformer manufacturing.
• Smart Home Technology: Growing incorporation of smart technologies in home electrical systems.
• Education and Training: Emphasis on education and training programs for industry professionals.

Rising Demand for Electric Vehicles Boosts Low-Power Transformers Market
The increasing demand for electric vehicles (EVs) is anticipated to be a significant catalyst for the growth of the low-power transformers market. With EVs relying on electric motors powered by batteries, low-power transformers play a crucial role in converting AC power from charging stations to the DC power essential for charging EV batteries. Notably, the International Energy Agency reported a substantial increase in electric vehicle sales, nearly doubling to 6.6 million in 2021 compared to the previous year. This surge propelled the total number of electric vehicles on the road to 16.5 million, highlighting the pivotal role of low-power transformers in supporting the EV revolution.

Major Market Players
Prominent companies operating in the low power transformers market include:

• Osram GmbH
• Schneider Electric SE
• Rockwell Automation Inc.
• Dechang Electronics Co. Ltd.
• Leviton Manufacturing Co. Inc.
• Plitron Manufacturing Inc.
• Hobut Holdings Limited
• TDK Corporation
• TE Connectivity Ltd.
• Phoenix Contact GmbH & Co. KG
• ABB Ltd.
• Littelfuse Inc.
• Zelisko Limited
• GE Grid Solutions LLC
• Qualitrol Company LLC
• Horstmann GmbH
• Weidmüller Interface GmbH & Co. KG
• TT Electronics PLC

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Embracing Compact Transformers For Enhanced Efficiency In The Low-Power Transformer Market
To stay competitive, major players in the low-power transformer market are focusing on introducing compact transformers designed for efficient power transfer while minimizing energy loss. For instance, Pulse Electronics Corporation launched the PH9385 series of 4KVrms isolation power transformers in February 2021. These transformers, constructed using a special Sidecar package, offer higher creepage distance, making them suitable for a range of low-power applications, including medical devices, industrial control systems, and telecommunications equipment. The compact design not only enhances efficiency but also makes them ideal for various applications with space constraints.

Vitec Imaging Solutions Acquires Audix Corporation
In a strategic move in January 2022, Vitec Imaging Solutions, an Italy-based premium branded hardware and software solutions provider, acquired Audix Corporation for an undisclosed amount. This acquisition aims to accelerate Audix’s audio capture strategy by incorporating additional specialist R&D capabilities, enabling the in-house design and manufacturing of microphones.

Market Segmentation

The low power transformers market is segmented based on various factors:

1. By Product Type:
   • Split-Core
   • Solid-Core
2. By Cooling Method:
   • Oil-Cooled
   • Air-Cooled
3. By Applications:
   • Power Plants
   • Factory
   • Other Applications

Asia-Pacific Leading the Charge
In 2023, Asia-Pacific emerged as the largest region in the low power transformers market, showcasing its dominance. As a hub for technological advancements and infrastructure development, Asia-Pacific continues to lead the charge, shaping the dynamics of the low power transformers market.

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The Low Power Transformers Global Market Report 2024  provides an overview of the low power transformers market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The low power transformers market forecast analyzes low power transformers market size, low power transformers market share, leading competitor and their market positions.

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