India, Nov. 15 -- The global transformer market is set to reach $83.8 billion by 2030, growing at a 5.7 percent CAGR. Voltamp Transformers and TARIL lead the domestic sector, differing in product mix, financials, and order book strength.

The global transformer market is projected to reach $83.8 billion by 2030, growing at a CAGR of 5.7 percent during the forecast period 2024-2030. Transformers play a critical role in the electrical power ecosystem by enabling the transfer of electricity between circuits at varying voltage levels. Designed to step up or step down voltages as required, transformers are essential for efficient power transmission and distribution across industrial, commercial, and utility sectors.

Within this evolving indus...