SELBYVILLE, Delaware, Sept. 12, 2019 /PRNewswire/ -- The distribution transformer market will achieve 6.9% CAGR to surpass USD 30 billion by 2024, recent report published by Global Market Insights, Inc., owing to increasing investments to refurbish conventional power supply infrastructure. The study provides an in-depth analysis of the industry with respect to the core, winding, installation, cooling, insulation, and phase segments. Additionally, the report provides details about the rating, mounting, application, and regional trends.
Increasing global population has fueled residential development and led to the expansion of distribution transformer market size over the past few years. Rapid infrastructure development across emerging economies has expanded the distribution networks to meet the demand from industrial and commercial sectors. Growing adoption of sustainable electricity generation across existing grids will offer considerable growth opportunities to deploy smart and efficient distribution transformers over the coming years.
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Advancing transformer technologies combined with tightening regulations for energy efficiency will impact distribution transformer market forecast. Mass production activities carried out by key manufacturers across the globe will generate substantial revenues from the industrial sector. Gradually increasing consumption of packaged goods and consumer electronics will drive the expansion of the manufacturing segment, signifying the need for suitable transformers to ensure optimum voltage supply for production equipment.
Growing utility segment to fulfil increasing urban power requirements will drive the demand for 2.6 MVA to 10 MVA rating distribution transformers across developing countries. Rising electrification activities across the rural areas in countries like India will notable reinforce distribution transformer industry outlook. Increased focus towards integrating renewable energy for commercial and residential purposes will create additional demand for the products.
2.6 MVA to 10 MVA distribution transformer market share was valued at more than USD 5 billion in 2016.
Solid insulation distribution transformers are poised to witness substantial deployment over the forecast period owing to the highly effective insulating property of the products. These equipment allow for compact configurations as well as offer a favorable cost structure, boosting their application scope. Enhanced flexibility offered by the product combined with increasing adoption of digital monitoring and control equipment will considerably foster distribution transformer market size.
Significant number of small and medium enterprises across the industrial sector globally will generate high demand for single phase distribution transformers. Fast-paced industrialization in developing nations supported by favorable government initiatives and expanding distribution networks has propelled the industry penetration. Government efforts to boost sustainable electricity infrastructure through various incentives will evolve power grids worldwide, bolstering single-phase distribution transformer market forecast.
Consistent deployment equipment powered through different voltages in the commercial and residential sectors have impacted the adoption of distribution transformers on the basis of cooling methods. Dry type cooling allows enhanced capacities for deployment in low and medium voltage applications and boasts of more effective cooling properties, cementing the technology as a prominent factor driving product demand.
Browse key industry insights spread across 1157 pages with 2396 market data tables & 41 figures & charts from the report "Distribution Transformer Market" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/distribution-transformer-market
Dry type cooling transformers accounted for around 30% of global distribution transformer market share in 2016.
Rapid growth of off-grid power networks in Middle East and Africa along with considerable investments to meet a rising electricity consumption in the region will fuel the installation of advanced distribution transformers. Support from global banking agencies like World Bank and the Asian Development Bank to develop the weak power infrastructure across the region has significantly driven the adoption of distributed generation units. For instance, more than USD 12 billion was allotted for developing the African electricity sector in 2017 by ADB.
Global distribution transformer market trends are seemingly outlined by major competitors including Eaton, Schneider Electric, ABB, General Electric, Siemens, BHEL and Toshiba Corp., among several others. Consistent efforts to improve the efficiency of transformer and integrate new technologies into products, to meet surging power demand worldwide, will substantially drive the product installation over the projected timeframe.
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Global Transformer Market By Winding (Two Winding, Auto-Transformer), By Core (Closed, Shell, Berry), By Product (Distribution Transformer, Power Transformer, Instrument Transformer {Current, Potential}), 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 (Three, Single), By Rating (≤ 10 MVA, 11 To 60 MVA, 61 To 600 MVA, > 600 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Residential & Commercial {Hotels, Hospitals, Apartments}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2018 – 2024
https://www.gminsights.com/industry-analysis/transformer-market
Transformer Oil Market By Application (Distribution Transformer, Power Transformer, Instrument Transformer, Others), By Product (Mineral Based {Naphthenic, Paraffinic} [Distribution Transformer, Power Transformer, Instrument Transformer, Others], Silicon Based [Distribution Transformer, Power Transformer, Instrument Transformer, Others], Bio Based [Distribution Transformer, Power Transformer, Instrument Transformer, Others]), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2024
https://www.gminsights.com/industry-analysis/transformer-oil-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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