Forecast: Import of Electric Transformers and Static Converters to the US

The forecast for the import of electric transformers and static converters to the US indicates a steady growth from 2024 through 2028. In 2023, the baseline stood at approximately 16.92 billion USD. Year-on-year growth is indicated by the data, with an increase of 1.87% in 2025, 1.80% in 2026, 1.73% in 2027, and 1.67% in 2028. The compound annual growth rate (CAGR) over the forecasted five-year period shows an average annual increase of approximately 1.78%.

Future trends to watch for include:

• Ongoing technological advancements could drive higher demand for more sophisticated and efficient transformers and converters.
• Policy shifts and potential economic fluctuations might impact the pace of growth in imports.
• The increasing shift towards renewable energy sources may bolster the demand for static converters.