Global Distribution Transformer Market -
Overview
Global
Distribution
Transformer market is growing with the rapid pace; mainly due to
advancement in technologies. According to a recent study report published by
the Market Research Future, The global market of Distribution Transformer is
booming and expected to gain prominence over the forecast period. The market is
forecasted to demonstrate a stunning growth by 2023, surpassing its previous
growth records in terms of value with a striking CAGR during the estimated
period (2017 – 2023).
Transformer is an electrical device that transfers
electrical energy between two or more circuits through electromagnetic
induction. Transformer are used to increase or decrease the alternating
voltages in power applications. It works on the principle of Faraday’s Law of Electromagnetic
Induction which states that “the magnitude of voltage is directly proportional
to the rate of change of flux.”
Transformer is a very diverse subject areas, it
comprises from small to very large systems. Transformer is broadly segmented
into distribution transformer, power transformer and others (instrument
transformer). Transformer systems have been dominating the renewable energy
market as well conventional market in recent years because of the ability to
transmit & distribute the energy in form of electricity and supply
according to end user needs.
Industry Segmentation
The
distribution transformer market has also been classified based on by Type (Pole
Mounted, Pad Mounted, And Underground), by Phase (Single & Three), by
Insulation (Oil- immersed, and Dry), by Power Range (0-315kVA,
316-2499Kva, 2500-10000kVA and above 10000kVA) and by Region. Globally,
advancing smart transformer technologies coupled with stringent energy
efficiency compliances will comprehensively augment the global distribution
transformer market.
Regional Analysis
Asia-Pacific held the largest market share within
distribution transformer market, followed by North America and Europe. China
has seen strong growth in the demand for electricity in the past couple of
decades, due to high levels of industrialization and infrastructural
developments. The continuous need to update and upgrade existing distribution
infrastructure to serve the growing demand for electricity will lead to a
positive growth of the transformer market over the forecast period. In
the emerging economies of Asia-Pacific, extensive power plant capacity
additions, economic growth, and the need to improve access to electricity are
driving grid expansion and the distribution transformer market.
Competitive Analysis
Distribution Transformer market appears to be
competitive with the presence of several large and small players operating in
the Distribution Transformer Market. These Key players compete based upon
pricing, quality, Technology and reputation. Distribution Transformer market
demonstrates a high growth potential which is likely to attract many entrants
to the market resulting in to intensified competition further. Moreover,
manufacturers mainly ensure to deliver the best quality products based on
innovative technologies, and best practices.
Prominent Players
ABB
Ltd. (Switzerland), Siemens AG (Germany), Crompton Greaves Limited (India), General
Electric (U.S.), Eaton Corporation Plc. (Ireland), Bharat Heavy Electricals Ltd
(India), Diamond Power Infrastructure Ltd (India), Bemag Transformer Inc.
(Canada), and Bowers Electricals Ltd (U.K.) are some of the prominent players
profiled in MRFR Analysis and are at the forefront of competition in the Global
Distribution Transformer market.
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