Global Distribution Transformers Market to be Driven by Rising Demand for Electricity in the Forecast Period of 2021-2026Distribution Transformer Market | Global Distribution Transformer Industry Report Size Share Growth Price Analysis Trends Outlook and Forecast 2021-2026
The new report by Expert Market Research titled, ‘Global Distribution Transformer Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global distribution transformer market, assessing the market based on its segments like type, phase, capacity, mounting, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Forecast CAGR (2021-2026): 5%
The rising population, urbanization, and economic development has accelerated the demand for electricity across the developing nations such as India and China. The power distribution system requires distribution transformers to satisfy the power demand. The governments have also increasingly invested on the infrastructure which is further augmenting the demand. The global organisations such as World Bank have been encouraging electrification across the globe. These factors are leading to bolstering demand for the distribution transformers. The developed nations such as United States and United Kingdom have huge per capita consumption of electrical power which is boosting the industry demand for distribution transformers.
Industry Definition and Major Segments
The distribution transformer is a device used for the transmission of electricity in a power distribution system. The transformer steps down the high voltage on which it operates, before supplying it to the end use consumers. The transformers can find their applications in the residential, commercial, and industrial establishments.
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On the basis of type, distribution transformer is categorised into:
• Dry Type
On the basis of phase, the industry is segmented into:
• Single Phase
• Three Phase
On the basis of capacity, industry is divided into:
• Below 500 kVA
• 500 kVA - 2500 kVA
• Above 2500 kVA
On the grounds of mounting, the distribution transformer is segmented into:
• Underground Vault
On the basis of application, the market is divided into:
• Residential and Commercial
• Power Utilities
The report also covers the regional distribution transformer markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The improvement in the transformer technology will drive the market demand. The smart grids are being adopted across the regions like Europe. They are found to be more energy efficient in transmission while simultaneously having lower cost requirements for operation which leads to a spurt in distribution transformer demand. There has been an increasing call worldwide for adoption of sustainable energy. The renewable energy also requires the power distribution system which will augment the industry demand. The modernisation of power transmission systems will also propel the market growth. The governments are also ramping up investment to the electrical infrastructure to better fulfill the electricity demand. This will provide impetus to the growth of industry.
Key Market Players
The major players in the market are Eaton Corporation PLC, Mitsubishi Electric Corporation, Schneider Electric, Siemens AG, Hitachi ABB Power Grids Ltd, and General Electric Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
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