The three-phase distribution transformer market is estimated to attain a 9.1% CAGR by 2030 due to the high utilization of these units across utility-aided distribution networks and large-capacity industrial establishments.
Selbyville, Delaware, June 02, 2022 (GLOBE NEWSWIRE) --
The distribution transformer market size is expected to record a valuation of USD 52 billion by 2030, according to the most recent study by Global Market Insights Inc. Soaring energy demand coupled with burgeoning efforts to enhance the grid infrastructure across the globe will proliferate the business scenario.
The closed-core distribution transformer market is predicted to observe a 7% growth rate till 2030. Versatile applicability across varying voltage conditions is amongst the key features offered by the technology, which is positively swaying its demand growth. Long operational expectancy coupled with effective renewable transformation capacities of closed-core distribution transformers will complement the industry landscape. In addition, the growing penetration of renewable energy in the energy mix will fuel the requirement for effective electrical equipment across T&D networks, thereby boosting the product demand.
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Oil-insulated distribution transformers are set to gain a substantial industry share during the forecast period due to their high-temperature bearing strength, effective insulation capabilities, and sustainable product applicability. Soaring power demand across the growing commercial and industrial sectors will further drive the product deployment. However, ongoing advancements in transformer technology will augment the penetration of cleaner technologies, which in turn, will hamper product adoption.
The three-phase distribution transformer market accounted USD 10 billion in 2021 and is anticipated to grow at a CAGR of 9.1% by 2030. High utilization of these units across utility-aided distribution networks and large-capacity industrial establishments will spur the demand for three-phase transformers. Rising power reliability along with the increasing demand for high ampacity across energy-intensive industries including oil & gas and mining will escalate the industry expansion. Moreover, lower line losses coupled with reliable long-distance electrical supply capacity will stimulate the three-phase distribution transformer demand.
Europe distribution transformer market will witness significant growth on account of the ongoing integration of renewable energy across the grid infrastructure. As per Europa, in 2020, over 22% of the total energy consumed across Europe has been generated from renewable energy sources. Stringent emission laws have compelled distribution service operators to install clean & energy-efficient electrical equipment across their network, which in turn, will propel the market growth.
Moreover, soaring energy demand from the growing commercial and residential sectors will positively enhance investments in the retrofitting of Europe’s transmission & distribution networks, which will further foster the Europe distribution transformer business in the coming years.
Major players operating in the distribution transformer market include Eaton, Elsewedy Electric, Celme s.r.l., Toshiba Energy Systems & Solutions Corporation, ORMAZABAL, ERMCO, IMEFY Group Schneider Electric SE, Voltamp, ABB Limited, Hitachi Energy Ltd., General Electric, Mitsubishi Electric Corporation, HYOSUNG HEAVY INDUSTRIES, CG Power & Industrial Solutions Ltd., Siemens, and EMCO Limited, amongst many others.
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Some key findings of the distribution transformer market report include:
The growing demand to refurbish existing gird infrastructures to tackle the soaring power demand will fuel the product penetration.
Rising infrastructural spending will increase the acceptance of transformers across power distribution networks.
Burgeoning integration of renewable sources of energy across grid structures will accelerate the distribution transformer market expansion.
The growing population across developing countries will drive the need for reliable power distribution network, thereby complementing the technology penetration
Ongoing advancements in the distribution transformer technology to augment reliability and safety across T&D networks will positively influence the market demand.
Table of Contents (ToC) of the report
Chapter 3 Distribution Transformer Market Insights 3.1 Industry ecosystem analysis 3.2 Innovation & technology landscape 3.3 Regulatory landscape 3.4 COVID- 19 impact on the industry outlook 3.5 Industry impact forces 3.5.1 Growth drivers 3.5.1.1 North America 3.5.1.1.1 Refurbishment demand for existing grid infrastructure 3.5.1.1.2 Rising infrastructural spending 3.5.1.2 Europe 3.5.1.2.1 Growing deployment of renewable energy 3.5.1.2.2 Upgradation of existing grid network 3.5.1.3 Asia Pacific 3.5.1.3.1 Large-scale renewable integration 3.5.1.3.2 Increasing demand for electricity 3.5.1.4 Middle East, Africa & Latin America 3.5.1.4.1 Escalating demand for reliable & continuous electricity 3.5.1.4.2 Growing investment toward expansion of electricity networks 3.5.2 Industry pitfalls & challenges 3.5.2.1 High initial cost 3.6 Growth potential analysis 3.7 Porter's Analysis 3.8 Competitive landscape, 2021 3.9 PESTEL Analysis
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About Global Market Insights Inc.
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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