Distribution Transformer Market Research on Industry Growth, Trends and Competitive Analysis till 2028
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%
Dallas, United States – April 27, 2021 /MarketersMedia/ —
Distribution Transformers are significant in transforming electricity to the end-user appliances. The Distribution Transformers coverts high electricity voltage into low electrical voltage as low electrical voltage is acceptable for homes and businesses. The electricity before being used for homes, home appliances, or businesses is transformed through the Distribution Transformers at least once. Distribution Transformers are used in many sectors like residential, commercial, as well as industrial. Based on the size and weight or the requirements of the customer, the Distribution Transformers can be arranged on a single pole or H pole. Accordingly, the distribution companies based on the capability and space availability choose Distribution Transformers for installation.
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In the Distribution Transformers Market, there are different types of transformer available including pole-mounted transformer, underground, pad-mounted transformer, underground transformer, and 3-phase transformer. These types of transformers are commonly available in the market in different sizes and efficiencies. These transformers require less space, they can be installed easily, and the magnetic losses are low in these types of transformers.
In the past few years, the per capita consumption of electricity has increased rapidly which in turn has increased the generation capacity of transformers with the help of both conventional and non-renewable sources. Moreover, the new launches in the market like electric vehicles which need charging stations have spurred the demand of Distribution Transformers thereby propelling the Distribution Transformers Market. Also, the demand for Distribution Transformers is increasing as old transformers are now being replaced by transformers that are more energy efficient.
However, the Distribution Transformers Market is also prone to challenges. Since the distribution companies do not comply with the mandatory guidelines for installation, lack of maintenance which sometimes leads to electric accidents, bad earthing practices, lack of awareness for protection equipment, theft of materials, and more has hampered the market growth.
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Also, presently finding a suitable area for installing a transformer is very challenging due to the rise in urbanization and population growth because power departments have to install the transformers studying the load center, load, and also studying the risk factors for the people living nearby, etc. Additionally, the CRGO/ Amorphous which is the main raw material for manufacturing transformers is costly which is also a major factor hindering the market growth.
The leading companies involved in offering the finest solutions in the Distribution Transformers Market are Crompton Greaves Ltd., Bharat Heavy Electricals Ltd, Bowers Electricals Ltd, Hammond Power Solutions Inc, LemiTrafoJsc, EREMU, S.A., SPX Transformer Solutions Inc., Ormazabal, Mitsubishi Electric Corporation, General Electric among others.
Segment Overview of Global Distribution transformer Market
Insulation Type Overview, 2018-2028 (USD Billion)
• Dry
• Liquid immersed
Mounting Overview, 2018-2028 (USD Billion)
• Pad-Mounted
• Pole-Mounted
• 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)
North America
• U.S.
• Canada
Europe
• UK
• Germany
• France
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Middle East and Africa
• UAE
• South Africa
• Rest of Middle East and Africa
South America
• Brazil
• Rest of South America
Key questions answered in the report:
What are the growth factors of the Distribution Transformer Market?
What is the progress of the Distribution Transformer Market during the speculation period 2021-2027?
What are the growth opportunities that could emerge in the Distribution Transformer Market industry over the next few years?
How will the Distribution Transformer Market change over the forecast period?
Which regional markets have the highest growth rate of the Distribution Transformer Market?
What are the major challenges the global Distribution Transformer Market may face in the future?
Who are the leaders in the global Distribution Transformer Market?
What are the key trends positively impacting the market growth?
What are the growth strategies players are considering to maintain in the global Distribution Transformer Market?
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Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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