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Distribution Transformer Market Analysis
Distribution Transformer Market Share is expected to rise at USD 19.0 Billion by 2027 at a CAGR of 9% in the forecast period.
Eminent industry players profiled in the global distribution transformer market report includeABB Ltd. (Switzerland), Siemens AG (Germany), Crompton Greaves Limited (India), General Electric (U.S.), Eaton Corporation Plc. (Ireland), Bharat Heavy Electricals Ltd (India), Diamond Power Infrastructure Ltd (India), Bemag Transformer Inc. (Canada), and Bowers Electricals Ltd (U.K.).
Growing Renewable Generation to Boost Market Growth
The growing renewable generation has led to an increased need for distribution transformers for supplying the generated power to the loads. This will boost the distribution transformer market growth over the forecast period.
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Improvements in Transformation Technology to offer Robust Opportunities
The improvements in transformation technology will offer robust opportunities for the market over the forecast period. The smart grids are being widely adopted across the power distribution systems. Smart grids are more effective in transmission and can resume electricity supply quickly after power failures. Besides they also have reduced operation costs thus reducing the power costs of consumers.
Lack of Standardization to act as Market Restraint
The lack of standardization for various forms of transformers may act as market restraint over the forecast period.
The global distribution transformer market is bifurcated based on power rating, phase, mounting, and insulation type.
By insulation type, the liquid immersed segment will lead the market over the forecast period.
By mounting the pad segment will dominate the market over the forecast period.
By phase type, the three segment will spearhead the market over the forecast period.
By power rating, the 2,501 kVA- 10,000 kVA segment will have the lions share in the market over the forecast period.
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APAC to Command Distribution Transformer Market
The APAC region will command the distribution transformer market over the forecast period. Expanding power age limit plans, the developing interest in restoring/supplanting maturing circulation transformers, expansion of power interest in India and China, quickly expanding infrastructural and mechanical advancement exercises, power demand in China, quick urbanization and industrialization power, vigorous monetary development in China, gross power utilization, demand for electricity in China, infrastructural developments, constant need for updating and upgrading existing distribution infrastructure for serving the growing need for electricity, extensive power plant capacity additions, economic growth, and the requirement to improve access to electricity are adding to the global distribution transformer market growth in the region. Besides, the increase in energy consumption for the ongoing economic progression, soaring investments for expanding the existing manufacturing capabilities of the region, and ambitious government measures for integrating a sustainable energy infrastructure are also adding market growth.
The global distribution transformer market is both fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches and more. Besides, they are also investing in various research and development activities.
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