the global Photovoltaic Step-up Transformer market size is projected to reach USD 1612.2 million by 2029

Photovoltaic Step-up Transformer Market Summary

A photovoltaic step-up transformer is a device that uses the principle of electromagnetic induction to change AC voltage. Its main structure includes a primary coil, a secondary coil and an iron core. Currently, in photovoltaic power generation and inverter technology, due to the low output voltage of the inverter, a step-up transformer must be used to increase the output voltage of the inverter to a voltage level that can meet the grid connection requirements. Due to limitations in the power of electronic components, photovoltaic power generation inverters used in photovoltaic grid-connected power stations generally do not exceed 500kW. Therefore, step-up transformers for photovoltaic power generation generally adopt a low-voltage winding axial split structure, so that one step-up transformer can be connected to two inverters at the same time.

• Photovoltaic Step-up Transformer

Source: GlobalInfoResearch, “Global Photovoltaic Step-up Transformer Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”

According to the new market research report “Global Photovoltaic Step-up Transformer Market Report 2023-2029”, published by GlobalInfoResearch, the global Photovoltaic Step-up Transformer market size is projected to reach USD 1612.2 million by 2029, at a CAGR of 9.8% during the forecast period.

• Global Photovoltaic Step-up Transformer MarketSize(US$ Million), 2018-2029

Source: GlobalInfoResearch, “Global Photovoltaic Step-up Transformer Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”.

• Photovoltaic Step-up Transformer,Global Market Size, The TopFive Players Hold 48% of Overall Market

Source: GlobalInfoResearch, “Global Photovoltaic Step-up Transformer Market 2023 by Manufacturers, Regions, Type and Application, Forecast to 2029”.

This report profiles key players of Photovoltaic Step-up Transformer such as Mingyang Electric, TBEA,etc.

In 2022, the global top five Photovoltaic Step-up Transformer players account for 48% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Photovoltaic Step-up Transformer.

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