The GCC power transformers market is expected to grow at a healthy CAGR during the forecast period. Saudi Arabia generated most of the revenue, followed by the United Arab Emirates. In addition to the prominent multinational companies, some local manufacturers have gained technology expertise by re-engineering, joint ventures and technology transfers, and they are moving into higher MVA ranges. Due to investments in various sectors in the GCC, the demand for power transformers has been steadily growing, and this trend is expected to continue.
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