The integration of renewable energy sources, such as wind and
solar power, into the grid necessitates the installation of
distribution transformers to facilitate the transmission of
electricity from these sources to consumers, which drives the
growth of the market.
PORTLAND, Ore., April 24, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Global Distribution
Transformer Market by Product Type (Pad Mounted, Pole Mounted, and
Underground Vault), Phase Type (Single Phase and Three Phase),
Insulation Type (Dry and Immersed), Power Rating (Upto 500
kVA, 501 kVA to 2,500 kVA, 2,501 kVA to 10,000 kVA, and More than
10,000 kVA), and End-use Industry (Residential, Commercial,
Industrial, and Power Utility): Global Opportunity Analysis and
Industry Forecast, 2024-2033". According to the report, the
"global distribution transformer market" was valued at $25.2 billion in 2023, and is estimated to reach
$47.5 billion by 2033, growing at a
CAGR of 6.6% from 2024 to 2033.
Download PDF Brochure:
https://www.alliedmarketresearch.com/request-sample/A190577
Prime determinants of growth
The global distribution transformer market has experienced
growth due to several factors such as an increase in demand for
electricity. However, volatility in raw material prices is expected
to hinder market growth to some extent. Moreover, the adoption of
smart grid technologies is expected to offer remunerative
opportunities for the expansion of the global distribution
transformer market.
Report coverage & details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base Year
|
2023
|
Market Size in
2023
|
$25.2
billion
|
Market Size in
2033
|
$47.5
billion
|
CAGR
|
6.6 %
|
No. of Pages in
Report
|
300
|
Segments
Covered
|
Product Type, Phase
Type, Insulation Type, Power Rating, End-Use Industry, and
Region
|
Drivers
|
Rise in demand for
electricity
The adoption of smart
grid technologies
|
Opportunity
|
The deployment of
microgrids
|
Restraint
|
Fluctuating raw
material prices
|
The underground vault is expected to grow faster throughout
the forecast period.
By product type, the pad mounted segment held the highest market
share in 2023, accounting for more than half of the distribution
transformer market revenue. This is attributed to the fact
that pad-mounted transformers are frequently used in areas where
underground distribution lines are common or where aesthetics and
space considerations make overhead lines less desirable. They are
often found in residential neighborhoods, commercial areas, and
industrial zones.
However, the underground vault segment is the fastest-growing
segment in the distribution transformer market growing with a CAGR
of 7.1%. Installing distribution transformers in underground vaults
requires careful planning and coordination with other underground
utilities like water, sewer, and telecommunication lines. Proper
insulation and waterproofing are also crucial to prevent water
ingress.
Procure Complete Report (300 Pages PDF with Insights, Charts,
Tables, and Figures) @ https://bit.ly/3vVaeuM
The single phase segment is expected to lead
throughout the forecast period.
By phase type, the three phase segment held the highest market
share in 2023, accounting for nearly two-thirds of the global
distribution transformer market revenue and is likely to retain its
dominance throughout the forecast period, whereas the single phase
segment is the fastest-growing segment expected to grow with the
CAGR of 6.8%. In backup power systems or standalone power systems,
single-phase distribution transformers may be used to step down
voltage from generators or alternative energy sources to supply
single-phase loads.
The dry segment is expected to lead throughout the forecast
period.
By insulation type, the immersed segment held the highest
market share in 2023, accounting for more than three-fifths of the
global distribution transformer market revenue and is likely to
retain its dominance throughout the forecast period. Distribution
transformers are often immersed in insulating oil, such as mineral
oil, which helps to cool the transformer and provides electrical
insulation. The windings and core of the transformer are completely
submerged in this oil. The dry segment is the fastest-growing
segment expected to grow with the CAGR of 6.9%.
The 2,501 kVA to 10,000 kVA segment dominated the
distribution transformer market in 2023.
By power rating, the 2,501 kVA to 10,000 kVA segment held the
highest market share in 2023, accounting for one-third of the
market share and is likely to retain its dominance throughout the
forecast period. More than 10,000 kVA segment is the
fastest-growing segment expected to grow with the CAGR of 7.2%.
distribution transformers with capacities greater than 10,000 kVA
are utilized in HVDC transmission systems to convert the voltage
between AC and DC for long-distance power transmission. Shopping
malls, office buildings, and other large commercial developments
utilize high-capacity transformers to distribute power efficiently
throughout the facility.
The residential segment is expected to lead the
market throughout the forecast period.
By end-use industry, the residential segment is the fastest
growing segment in the market growing with the CAGR of 7.4% during
the forecast period. Industrial segment dominated the distribution
transformer market accounting for nearly half of the market share
during the forecast period. Industrial facilities often have
diverse power requirements for machinery, lighting, heating, and
other operations. Distribution transformers distribute power to
various sections of the facility, ensuring a stable and reliable
electricity supply.
For Purchase Inquiry:
https://www.alliedmarketresearch.com/global-distribution-transformer-market/purchase-options
Asia-Pacific to maintain its
dominance by 2032.
Based on region, Asia-Pacific
held the highest market share in terms of revenue in 2022,
accounting for more than one-third of the global distribution
transformer market revenue and is expected to rule the roost in
terms of revenue throughout the forecast timeframe, whereas
Asia-Pacific is also the fastest
growing segment expected to grow with the CAGR of 7.0% during the
forecast period. China has a
massive demand for distribution transformers. The country's rapid
industrialization and urbanization have driven extensive
investments in electricity infrastructure, including distribution
transformers. Japan has a
well-established electricity infrastructure, with distribution
transformers playing a crucial role in delivering power to
residential, commercial, and industrial consumers. The country has
been focusing on modernizing its grid infrastructure to improve
efficiency and reliability.
Players: -
- ABB, Siemens
- Schneider Electric
- Eaton
- General Electric Company
- HD HYUNDAI ELECTRIC CO., LTD
- Fuji Electric Co., Ltd.
- Toshiba Corporation
- Padmavahini Transformers Private Limited
- Lemi Trafo Jsc.
The report provides a detailed analysis of these key players in
the global distribution transformer market. These players have
adopted different strategies such as new product launches,
collaborations, expansion, joint ventures, agreements, and others
to increase their market share and maintain dominant shares in
different regions. The report is valuable in highlighting business
performance, operating segments, product portfolio, and strategic
moves of market players to showcase the competitive scenario.
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