Asia-Pacific to Dominate Global Pad Mounted Transformers Market During Forecast Period
Rapid urbanisation and
increasing technological advancements are expected to drive global pad mounted
transformers market during forecast period
According to
TechSci Research report, “Global Pad
Mounted Transformers Market By Insulation Type, By Phase, By
Rated Power, By End User, By Region, Competition, Forecast
& Opportunities, 2024”, global pad mounted transformers market was valued at
USD4.5 billion until 2018 and is estimated to grow with an impressive CAGR during
the forecast period on account of increasing efforts by key market players to
combine engineering, focused architecture, and logistics in order to produce
highly capable machinery and equipment. Moreover, rapidly emerging industries
coupled with imminent mergers & acquisitions by major market leaders is expected
to bolster the growth of global pad mounted transformers market over the coming
years. Furthermore, rapid urbanization and increasing population across the
globe has resulted in increased demand for pad mounted transformers under
different segments, which is anticipated to boost the market over the coming
years.
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In terms of
rated power, the market is segmented into power<1 MVA and power >1 MVA.
Power< 1 MVA rated power type segment dominated the market until 2018 and is
projected to maintain its dominance during the forecast period owing to rise in
demand from the commercial as well as residential sectors. Unlike industries, commercial
establishments as well as houses usually do not have high power consuming equipment.
Therefore, the demand for less than 1 MVA rated power pad mounted transformers
is estimated to be higher than more than 1 MVA rated power pad mounted
transformers.
ABB Ltd. Eaton
Corporation PLC., Siemens AG., Crompton Greaves, Federal Pacific, Hitachi,
Moloney Electric, Inc., Pacific Crest Transformers, Inc., Pearl Electric among
others are the leading players operating in global pad mounted transformers
market.
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“Regionally,
the pad mounted transformers market is gaining traction and expanding in Asia-Pacific,
North America, South America, Europe, and Middle East & Africa regions.
Among these regions, Asia-Pacific region is anticipated to dominate the global
pad mounted transformers market during the forecast period which can be
attributed to the presence of emerging countries like China and India, which
are witnessing high demand for pad mounted transformers in need to provide
electricity to rural areas. Additionally, industrialization in India, China,
and other growing countries in Asia-Pacific is leading to the development of
transmission and distribution network which is further witnessed to augment the
expansion of the pad mounted transformers market through 2024.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Pad Mounted Transformers Market By Insulation
Type, By Phase, By Rated Power, By End User, By
Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global
pad mounted transformers market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global pad
mounted transformers market.
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