According to recent study, the distribution transformers market is expected to experience substantial growth, expanding CAGR of over 6% from 2021 to 2031.
The growth in demand is witnessing optimistic growth outlook. Rising trends and initiatives of smart grids for economic efficiency are projected to ascend the growth in demand over the coming years.
What is Driving Demand for Distribution Transformers
Distribution transformers are used for providing final voltage transformation in electric power distribution system. It steps down the high voltage used in the distribution line to the level used by consumers.
These are designed to provide maximum efficiency at lower loads hence they generally do not operate at full load.
Distribution transformers market growth is anticipated to be influenced by increasing demand for substituting and refurbishing of aged transformers and initiatives for increasing power generation capacities around the globe.
The rising demand for electricity in emerging countries such as China, India, etc. is driving the rapid investments in power transmission and distribution infrastructure subsequently augmenting the consumption of distribution transformers.
Power generation from natural gas sector and renewable energy and is increasingly taking over fossil fuel along with other conventional methods so as to meet the requirements.
The investments in renewable power infrastructure are projected to ascend the demand for distribution transformers.
The competition between Power distribution and transmission sector with each other and partnerships with tech firms to deliver improved and innovative solutions is compelling the steady growth in the market.
The increasing activities for expansion of electrical distribution network and retrofitting of existing networks are fueling the consumption of distribution transformers.
Rising Prominence of Smart Grid Technologies to Augment Sales
The adoption smart grids for power distribution systems is increasing in across the globe. The smart grids provide higher transmission efficiency and can quickly resume electric supply in case of power failures.
They also enable reduction in operation costs thus reducing the power cost for consumers. The upgradation in power distribution systems is likely to ascend the distributive demand. Moreover, increasing consciousness for green energy are projected to propel the growth in demand.
The substantial increase in investments in developed and developing countries for development of power infrastructure are anticipated to bolster the growth of distribution transformers industry.
Asia Demand Potential
Asia Pacific region is projected to witness highest growth over the forecast period, on the back of large scale manufacturing in China and Japan coupled with substantial investments in new technologies.
The shift of manufacturing locations in the emerging countries such as Taiwan, China, etc. is paving the way for market growth in the region.
China is witnessing robust growth in the electricity demand from recent couple of decades, on the back of infrastructural developments and high levels of industrialization. This, in turn, is projected to create positive growth prospects for the distribution transformers market growth.
Europe Market Growth Outlook
The developed countries from Northern and South Western Europe also hold prominent share in the distribution transformers market on the account of increasing electricity demand and technology upgradation.
The rapid growth in investments in smart grid technologies with integration of IoT and artificial intelligence is projected to positively influence the growth in demand over the forecast period.
Who are the Key Manufacturers and Suppliers of Distribution Transformers
Some of the leading manufacturers and suppliers of in the market include
- ABB Ltd,
- Eaton Corporation PLC,
- General Electric,
- Brush Electrical Machines Ltd,
- Kirloskar Electric Company Ltd,
- Siemens AG,
- Crompton Greaves Ltd,
- Mitsubishi Electric Corporation,
- Fuji Electric Co. Ltd,
- SPX Transformer Solutions Inc.,
- Bharat Heavy Electricals Ltd.,
- Lemi Trafo Jsc, among others.
Leading manufacturers are focused on expansion of their manufacturing facilities along with sales and distribution network in emerging markets across the globe.
Also, continuing efforts are being made to further improve the cost and performance parameters. Attributing to the presence of number of global & regional players, the distribution transformers market witness high intensity of competition.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Distribution Transformers Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
By Product Type:
- Pad Mounted
- Pole Mounted
- Underground Vault
By Insulation Type:
- Liquid immersed
- Single Phase
- Three Phase
By Power Rating:
- Up to 500 kVA
- 501 kVA–2,500 kVA
- 2,501 kVA–10,000 kVA
- Above 10,000 kVA
By End Use:
- Power Utilities
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- South Asia & Pacific
- Australia and New Zealand (ANZ)
- East Asia
- South Korea
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
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