Distribution Transformer Market to exceed $52 Bn by 2030

Distribution Transformer Market size is projected to cross USD 52 billion by 2030, as reported in the latest research study by Global Market Insights Inc.
 

Ongoing shift toward advancements in the current grid infrastructure along with the growing demand for electrification in remote areas will fuel the industry growth. Utilities worldwide are focusing on the replacement of traditional single-phase power supply networks with enhanced three-phase systems, which will stimulate the business landscape. Increasing private and public investments to effectively cater to the demand-supply mismatch to bolster the product demand.
 

Increasing public and private funding for the electrification of off-grid or grid-isolated areas across developing regions will positively influence the distribution transformer market share. Furthermore, rural areas in developing economies lack an effective grid infrastructure, thus continuously suffering from power lags and blackouts. Favorable regulatory interventions coupled with an increasing number of industry participants will further drive the industry statistics.
 

Better cooling and effective compatibility of oil-immersed transformers

The oil-immersed distribution transformer market is expected to grow by more than 7.4% CAGR through 2030 on account of the increasing attention toward distributed generation technologies combined with the expansion of sustainable energy systems. High reliability, extended service life, and better efficiency are some of the key parameters, which will boost the market demand. Moreover, countries including China and India are focusing on the development of their T&D networks to increase the electrification rates.
 

Browse key industry insights spread across 1050 pages with 2,344 market data tables & 34 figures & charts from the report, “Distribution Transformer Market Size By Core (Closed, Shell, Berry), By Winding (Two Winding, Auto Transformer), By Installation (Outdoor, Indoor), By Cooling (Dry Type {Self Air, Air Blast}, Oil Immersed {Self Cooled, Water Cooled, Forced Oil}), By Insulation (Gas, Oil, Solid, Air), By Phase (Single, Three), By Rating (≤2.5 MVA, 2.6 MVA to 10 MVA, >10 MVA), By Mounting (Pad, Pole), By Application (Residential & Commercial, Utility, Industrial), COVID19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/distribution-transformer-market
 

Growing concerns regarding energy efficiency with a rising focus on the incorporation of wide-ranging frequency distribution links

Favorable economies of scale associated with utility-scale installations will fuel additional investments across technology integration and grid expansion globally. The rapid growth in renewable energy deployments have been outpacing conventional power capacity additions in many regions. Increasing emphasis of governments and utilities on the development of new generation projects to meet the soaring electricity demand influencing the market scenario. In September 2021, the Saudi Electricity Company (SEC) announced a project for the development of distribution transformers from 231/133 V to 400/230. The company recreated old voltage transformers instead of scrapping them.
 

Increasing government measures for the integration of sustainable energy infrastructure across Asia Pacific

Asia Pacific distribution transformer market revenue is anticipated to witness over 6.2% gains from 2022 to 2030. The region is among the world’s largest energy producers & consumers with an increasing focus on countries including China, India, Japan, and Vietnam for the deployment of renewable energy. Countries in the region that comply with the Paris agreement witnessed a double-fold growth in renewable deployment. National renewable targets together with redundancy toward the expansion of conventional electrical networks have instituted a favorable business scenario. Moreover, ongoing urbanization and surging investments for the enhancement of existing manufacturing capabilities will further influence product deployment.
 

Major players operating in the distribution transformer market include Mitsubishi Electric Corporation, ERMCO, Siemens, ABB, General Electric, Toshiba Energy Systems, Schneider Electric, Elsewedy Electric, IMEFY Group, Eaton Corporation, CG Power and Industrial Solutions, EMCO Limited, HYOSUNG HEAVY INDUSTRIES, Bharat Heavy Electricals Limited, ORMAZABAL, Celme S.r.l., and Hitachi Energy, among others.