Selbyville, Delaware, June 02, 2022 (GLOBE NEWSWIRE) –
Distribution transformers market size is expected to reach USD 52 billion by 2030, According to the latest study by Global Market Insights Inc. The increasing demand for energy along with the increasing efforts to enhance the network infrastructure across the world will lead to the proliferation of the business scenario.
The closed distribution transformer market is expected to witness a growth rate of 7% through 2030. Diversified applicability across variable voltage conditions are among the key features offered by the technology, which positively impacts demand growth. The long operational outlook along with the efficient renewable switching capabilities of closed distribution transformers will complement the industrial landscape. In addition, the increased penetration of renewable energy into the energy mix will increase the requirements for efficient electrical equipment across transmission and development networks, and thus increase the demand for the product.
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Oil-insulated distribution transformers were set to occupy a significant industrial share during the forecast period due to their high-temperature durability, effective insulation capabilities, and sustainable product application. The increasing demand for energy across the growing commercial and industrial sectors will lead to increased penetration of the product. However, ongoing developments in transformer technology will increase the penetration of cleaner technologies, which in turn will hamper product adoption.
The three-phase distribution transformer market size reached US$10 billion in 2021 and is expected to grow at a compound annual growth rate of 9.1% by 2030. The large use of these units across distribution networks that support public utilities and large capacity industrial enterprises will stimulate the demand for Three phase transformers. Increased energy reliability coupled with the increasing demand for high capacity across energy-intensive industries including oil and gas and mining will further drive expansion of the industry. Moreover, lower line losses combined with reliable electrical supply capability over long distances will stimulate the demand for three-phase distribution transformers.
The distribution transformer market in Europe will experience significant growth at the expense of the continuous integration of renewable energy across the grid infrastructure. According to Europa, in 2020, more than 22% of all energy consumed across Europe was generated from renewable energy sources. Strict emissions laws have forced distribution service operators to install clean, energy-efficient electrical equipment across their network, which in turn will drive market growth.
Moreover, the increasing demand for energy from the growing commercial and residential sectors will positively boost investments in retrofitting transmission and distribution networks in Europe, which will boost the distribution transformer business in Europe in the coming years.
The major players operating in the distribution transformer market include Eaton, El Sewedy Electric, Selmi srl, Toshiba Power Systems & Solutions, Ormazabal, Irmco, IMEFY Group Schneider Electric SE, Voltamp, ABB Limited, Hitachi Energy Ltd. , General Electric, Mitsubishi Electric Corporation, HYOSUNG HEAVY INDUSTRIES, and CG Power & Industrial Solutions Ltd. and Siemens, EMCO Limited and many more.
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Some of the key outcomes of the Distribution Transformers Market report include:
- The increased demand for the renewal of existing infrastructures to deal with the increasing demand for energy will lead to increased product penetration.
- Higher spending on infrastructure will increase the acceptance of transformers across power distribution networks.
- The increasing integration of renewable energy sources across grid structures will accelerate the expansion of the distribution transformer market.
- A growing population across developing countries will increase the need for a reliable power distribution network, thus complementing the penetration of technology
- Continuous developments in distribution transformer technology to increase reliability and safety across T&D networks will positively impact market demand.
Table of Contents (ToC) of the report
Chapter 3 Distribution of Transformers Market Insights
3.1 Industrial Ecosystem Analysis
3.2 Innovation and technology landscape
3.3 Regulatory landscape
3.4 Impact of COVID-19 on Industry Outlook
3.5 Industry Impact Forces
3.5.1 Growth Engines
126.96.36.199 North America
188.8.131.52.1 Renewal of Existing Network Infrastructure Request
184.108.40.206.2 Increasing spending on infrastructure
220.127.116.11.1 Increasing deployment of renewable energy
18.104.22.168.2 Update the existing network
22.214.171.124 Asia Pacific
126.96.36.199.1 Large-scale Renewable Energy Integration
188.8.131.52.2 Increasing demand for electricity
184.108.40.206 Middle East, Africa and Latin America
220.127.116.11.1 Rising demand for reliable and continuous electricity
18.104.22.168.2 The growing investment towards the expansion of electricity networks
3.5.2 Pitfalls and challenges for the industry
22.214.171.124 High initial cost
3.6 Analysis of potential growth
3.7 Porter’s Analysis
3.8 Competitive Landscape, 2021
3.9 PESTEL تحليل Analysis
Browse the full table of contents (ToC) @ https://www.gminsights.com/toc/detail/distribution-transformer-market
About Global Market Insights Inc.
Global Market Insights Inc. Headquartered in Delaware, United States, is a global market research and advisory service provider, providing aggregated and customized research reports along with growth advisory services. Business intelligence and industry research reports provide our clients with insights and actionable market data tailored and delivered to aid strategic decision-making. These comprehensive reports are designed via a proprietary research methodology and are available to key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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