The growth can be attributed to high demand for electricity and renewable energy generation providing opportunities in market
The global distribution transformer market size is projected to reach nearly USD 27.4 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 6.5% over the forecast period of 2020-2028. Distribution transformers are primarily used to allocate power to a specific area, to industrial estates, and also to tenuously positioned buildings and houses. These are typically discovered near, marketable, or industrial or housing areas on the extremity or subversive. Growing populations across the region can foster the need for saving power, which in turn is expected to catalyze the distribution transformer's market expansion in the coming years.
The report also outlines the various characteristics of the global distribution transformer industry by assessing the market from value chain analysis. Moreover, the distribution transformer market report comprises various qualitative parts of the distribution transformer industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The distribution transformer market has huge competition amongst the already well-known and new market players. Also, the distribution transformer industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Increasing awareness of sustainable expansion in the universal population will fuel the need for energy-competent solutions. These instruments also demonstrate that they are one of the key causes of energy depletion and are readily replaceable and quantifiable. Implementation of these pioneering systems will, however, lead to less power loss. In the delivery transformer market.
Asia Pacific has the most substantial market share in the distribution transformer followed by the regions such as Europe and North America. Due to high levels of infrastructural expansion and industrialization, China has seen tremendous growth in the market for electrical energy in recent decades. Due to factors such as rising power to grow industrial spending, T&D communications, and demand for renovating outdated distribution transformers, Asia Pacific is expected to dominate the market. Based on an estimate by the Electric Power Research Institute, power needs and demand in India are projected to double in the coming years.
Major key players operating the global distribution transformer market are BHEL (Bharat Heavy Electricals Ltd), Siemens AG, Aston Transformers A.S., Daihen Corporation, Bemag Transformers, Bowers Electricals, ASEA Brown Boveri, Crompton Greaves, and Diamond Power Infrastructure Ltd. The major players in the market comes up with some of the developments to enhance the market growth in the global industry.
Segment Overview of Global Distribution transformer Market
Insulation Type Overview, 2018-2028 (USD Billion)
- Liquid immersed
Mounting Overview, 2018-2028 (USD Billion)
- Underground Vault
Power Rating Overview, 2018-2028 (USD Billion)
- Up to 500 kVA
- 501 kVA–2,500 kVA
- 2,500 kVA–10,000 kVA
- Above 10,000 kVA
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America