The transformer industry is an important part of the electrical infrastructure. Transformers work by converting alternating current (AC) to direct current (DC), and vice versa. The converter takes in electricity from the utility grid and changes it into a lower voltage, which is then sent out through power lines that run to homes and businesses.
The transformer industry manufactures and sales of electrical transformers, electric power equipment and systems, and electronic components.
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The transformer industry has a long history dating back to the early 1800s when electricity was first experimented with.
Why is it important?
The transformer industry is important because it plays a significant role in electric power delivery and distribution systems. Transformers are essential components in the electrical grid, as they help to convert high-voltage electricity into lower voltages that can be used by appliances and other devices.
The industry has seen steady growth over the past several years, as demand for transformers has remained strong. This trend is likely to continue in the future, as increasingly sophisticated electric vehicles and renewable energy sources continue to become more widespread.
In 2017, global transformer sales were expected to reach $25.6 billion, up from $24.6 billion in 2016.
The key factors driving this growth include increasing demand for electric vehicles and portable electronics, growth in renewable energy sources such as solar and wind power, and increased investment in the electrical grid.