• The United States Induction Furnace Power Transformers market size was valued at US$ 234.7 million in 2024 and is projected to reach US$ 312.5 million by 2030, at a CAGR of 4.9% during the forecast period 2024-2030.
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• The US Induction Furnace Power Transformers market is growing steadily, driven by the modernization of metal processing facilities, increasing demand for high-purity metals, and advancements in power electronics. In 2023, total unit sales reached 1,200, with the steel industry accounting for 55% of market value. The market saw a 15% increase in demand for water-cooled transformers in 2023, offering improved efficiency in high-power applications. Medium-frequency induction furnace transformers are growing at 8% annually. The market is witnessing a trend towards digitally controlled power supply systems, with a 20% year-over-year increase in sales of transformers with integrated smart monitoring capabilities. Adoption of transformers for induction furnaces in precious metal refining grew by 25% in 2023. Key manufacturers are focusing on developing transformers with higher power densities, with a 30% increase in R&D investments for advanced magnetic materials and designs. The industry is also seeing increased interest in energy-efficient transformer solutions, with a 35% rise in implementations of low-loss core technologies.
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