Distribution Transformer Market Synopsis:
An exponential increase in
the power generation capacities has been witnessed which is fueled by increased
demand for power on the global front. The global distribution transformer market, as per Market
Research Future (MRFR)’s findings, is expected to strike 8.70% CAGR during the
review period 2018 to 2023. The valuation of the global market, according to
the observation, is expected to reach USD 19 Bn by 2023. Rising investments by
the governments for energy security is anticipated to catalyze market growth in
the years to come.
The Rapid pace of
industrialization is vital for a nation’s economy. It has led to increasing
demand for energy and power. This, in turn, is poised to drive the growth rate
of the distribution transformer market over the evaluation period. In addition,
increasing urban population is also expected to influence the global market
positively over the next couple of years.
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The developments in the power
infrastructure of developing nations are projected to have a favorable impact
on the proliferation of the distribution transformer market. Also, the
increasing investments in renewable energy industry are anticipated to expedite
the growth process of the market in the nearby future. A detailed analysis report
of COVID-19 impact on Distribution Transformer Industry is provided with the
report.
Global Distribution
Transformer Market Segmentation:
Based on type, the distribution
transformer market has been segmented into pad mounted, pole mounted, and
underground. Among these, the pad mounted is likely to account for the maximum
market share owing to its use in electric power distribution. Other factors
that are poised to drive the growth of the segmented are technological
developments, urbanization & industrialization, and improvements in process
control systems.
On the basis of insulation,
the distribution transformer market has been divided into oil immersed and dry.
The oil immersed segment is anticipated to witness rapid growth owing to its
features such as loss reduction technology, temperature control systems,
dielectric strength of insulation, highly reliable insulation, etc.
On the basis of power rating,
the distribution transformer market has been segmented into <500 kVA, 500
kVA-2500 kVA, 2500 kVA- 10000 kVA, and > 10000 kVA.
By end-user, the global
distribution transformer market has been segmented into utilities, industrial,
and commercial & residential.
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Regional Analysis:
A detailed geographical evaluation
of the global distribution transformer market is covered in this report on
regional as well as country-level basis. The regional segments identified in
this assessment are - North America, Asia Pacific (APAC), Europe, and the Rest
of the World (RoW).
Europe is expected to touch a
valuation of USD 1.5 Bn by 2023. The generation of renewable energy in the
regions is expected to provide an impetus to the expansion of the distribution
transformer market in the upcoming years. Increasing investments in reduction
of carbon emissions are likely to impact the market favorably in the long run.
Asia Pacific is also poised
to play a significant role in the development of the global distribution
transformer market. Increasing urbanization and industrialization in the
fast-developing nations of the region are projected to open growth avenues for
the market players. In addition, the region is likely to attract huge
investments, which is again expected to catalyze the market.
Competitive Dashboard:
Wilson Power Solutions Ltd
(U.K), Hitachi (Japan), Emerson Electric (U.S.), Kirloskar Electric Co. Ltd.
(India), ABB Ltd (Switzerland), Wenzhou Rockwell Transformer Co., Ltd. (China),
Eaton Corporation (Dublin), General Electric (U.S.), Ormazabal (Spain),
Mitsubishi Electric Corporation (Japan), SPX Transformer Solutions Inc. (U.S.),
Lemi Trafo JSC (Bulgaria), EREMU, S.A. (Spain), Hammond Power Solutions Inc.
(Canada), Bharat Heavy Electricals Ltd (India), Bowers Electricals Ltd (U.K),
and Crompton Greaves Ltd. (India) are few of the major participants of the
global distribution transformer market.
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