Distribution Transformer Market Size [2023-2030] | Industry

October 26, 2023 05:52 ET | Source: Fortune Business Insights Fortune Business Insights

Pune, India, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The global distribution transformer market is set to gain momentum from the rising demand for persistent and stable supply of electricity across the world. Several emerging economies are nowadays aiming to focus on upgrading the old power infrastructure. Therefore, the demand for IoT compatible distribution transformer would upsurge owing to the development of smart grids. Fortune Business Insights™, in an upcoming report, titled, “Distribution Transformer Market Size, Share & Industry Analysis, By Mounting Location (Pole, Pad, Underground Vault), By Phase (Single-phase, Three-phase), By Insulation (Dry, Oil Immersed), By Voltage (Low Voltage, Medium Voltage, High Voltage), By End-User (Residential, Commercial, Industrial, Utility) and Regional Forecast, 2019-2026,” published this information. 240v To 12v Transformer

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September 2019: Huawei Technologies Co., Ltd., a provider of telecommunications equipment based in China, unveiled a series of AI-based and 5G innovative energy solutions at the 24th World Energy Congress in Abu Dhabi. The company partnered up with over 500 energy CEOs, 70 energy ministers, and several other partners to broaden the vision of sustainable energy development.

September 2019: ERMCO, Inc., a producer of oil filled distribution transformers and transformer components headquartered in Tennessee, invested around USD 12 million for the expansion of its manufacturing operations at Dyersburg. As per the company officials, Tennessee is the perfect location for this expansion as the state houses an innovative manufacturing industry.

Rising Government Initiatives to Reduce Environmental Issues Will Fuel Growt

In the olden days, a polychlorinated biphenyl (PCB) liquid was used in the distribution transformers indoors. However, they were banned as the liquid posed a major threat to the animals and the environment. Later, silicones and vegetable oils were used and replaced the PCB liquid as they are biodegradable. Furthermore, the governments of numerous countries are implementing stringent rules and regulations to reduce pollution. The ‘Green Corridor Project’, for instance, was put forward by the Indian government in 2013. It was meant to enable the flow of renewable energy sources into the National Grid Network. The first phase of the program is designed to support 33 GW of wind and solar power. These factors are set to augment the distribution transformer market growth during the forecast period.

The global pandemic has negatively impacted the growth of several industries and markets, including the distribution transformer market. The stringent governmental regulations like lockdowns and curfews imposed to curb the spread of the virus have affected the operations and supply chain networks of major businesses operating in the market. The low available workforce resulted in reduced production levels. Many businesses reported shrunken revenues during the pandemic. However, vaccines are now available to the masses, and the market is gradually gaining traction. The market is expected to witness steep growth post-pandemic.

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The distribution transformer market is highly competitive, with key players such as ABB, Siemens, Schneider Electric, and General Electric dominating the industry. These companies offer a wide range of distribution transformers, leveraging their global presence and advanced technology to maintain a strong market position. Emerging players, like Hyundai Electric and Hitachi, are also making strides in the market through innovations in energy efficiency and smart grid integration. Additionally, regional competitors, including CG Power and TBEA, cater to specific geographic markets, contributing to the overall competitive landscape. Cost-efficiency, sustainability, and technological advancements are key differentiators in this dynamic sector.

Type: Distribution transformers can be categorized into oil-immersed distribution transformers and dry-type (cast resin) distribution transformers.

Phase: Transformers are available in single-phase and three-phase configurations, with the latter being more common for industrial and commercial applications.

Voltage Rating: Transformers come in various voltage classes, such as low voltage, medium voltage, and high voltage, to match specific grid requirements.

Insulation Type: This includes options like liquid-immersed (oil-filled) and dry-type transformers.

Power Rating: Transformers are available in various power ratings, typically ranging from a few kVA to several MVA.

End-User: Distribution transformers are used in sectors like residential, commercial, industrial, and utility applications.

Region: The market can be segmented by geographical regions, as the demand and regulations for distribution transformers vary across the globe.

Pre-book Distribution Transformer Market Research Paper:  https://www.fortunebusinessinsights.com/checkout-page/101633 Regional Insights Increasing Number of Manufacturing & Industrial Units to Favor Growth in Asia Pacific In terms of region, the market is grouped into Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Out of these, Asia Pacific is anticipated to generate the highest distribution transformer market revenue in the coming years owing to the rising electrification initiatives and manufacturing activities in countries, such as Vietnam, Bangladesh, and India. Besides, the number of industrial and manufacturing units is surging, and it is resulting in the high demand for distribution transformer. Also, the increasing number of commercial centers, IT hubs, bullet trains, metros, and railways would also skyrocket the demand for reliable and constant supply of electricity.

Europe and North America, on the other hand, are likely to showcase significant growth backed by modernization and automation of electrical infrastructure in both regions. Africa is expected to have high growth potential in the forthcoming years because of the integration of renewable energy resources in the electrical grid in the developing and developed countries. Hence, companies in this region are investing huge sums in the electric power system. Overall, the market would experience considerable growth globally because of rapid urbanization, improvements in transmission infrastructure, and increasing number of power generation plants.

List of the Key Players Profiled in the Global Market

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