Power & Distribution Transformer Market to Register a CAGR of 7.93% During the Forecast Period 2027-2031
Power & Distribution Transformer Market is driven by
rising electricity demand and growing adoption of renewable power generation,
supporting grid expansion during the 2027–2031 forecast period.
According to TechSci Research report, “Power & Distribution
Transformer Market – Global industry Size, Share, Trend, Opportunities
and Forecast 2021-2031. The Global Power &
Distribution Transformer Market will grow from USD 50.05 Billion in 2025 to USD
79.11 Billion by 2031 at a 7.93% CAGR, owing to maximum efficiency of power
& distribution transformers, rising demand of electricity generation,
increasing adoption of renewable power generation among others across the
world.
A specific kind of transformer called a power transformer
is used primarily to transport low voltage generating electricity through
distribution lines inside the power grid network. As a result, power
transformers are necessary for the transmission of electricity. Government
efforts in North American nations to increase the capacity of energy
generation, distribution, and transmission are driving up demand for power
transformers. Moreover, the US government's emphasis on the creation of
renewable energy sources encourages company expansion. The industrial sector in
the US will use around 3.93 trillion kWh of energy in 2021, which will cause
the market to grow at a rapid rate.
The growing emphasis on the generation of renewable energy,
the usage of smart grids and transformers, and the replacement of out-of-date
power transformers are other factors driving the expansion of the global market
for power transformers in addition to the increasing need for electricity. As
the power sector is the key indicator of economic growth, North America and
Europe are making investments to strengthen their power infrastructure and meet
the increased demand for electricity. Investments comprise brand-new grid
projects that link electrical energy generated from renewable sources to the
main power grid. One of the main factors driving the Global Power &
Distribution Transformer Market is the expansion of renewable energy sources
including hydro, wind, and solar.
Browse over XX market data Figures spread through XX Pages
and an in-depth TOC on the "Global Power & Distribution
Transformer Market”
Low power transformers with capacities up to 100 MVA are
increasingly being used in transmission substations, generator step-up units
(GSU), industrial facilities such as oil and gas refineries, chemical and
petrochemical plants, cement and mining, desalination plants, malls, metros,
and other infrastructure fields. Transformers are categorized based on their
capacity rating, or the power they can transmit. As a result, the Power &
Distribution Transformer Market is expected to expand during the projected
period.
Based on ratings, the Global Power & Distribution
Transformer market is further segmented into 1-500 MVA, up to 1000 KVA &
Above 500 MVA. The Global Power & Distribution Transformer Market by rating
is dominated by the 1-500 MVA category in 2022, with a market share of 48.49%.
Since 1-500 MVA are utilized in both the residential and industrial sectors,
the market in North America and Europe is dominated by this segment. The
residential market in North America, which is expanding, frequently uses 1-500
MVA. The total revenue generated by the North American real estate industry,
for instance, was USD 917.7 billion in 2020, representing a compound annual
growth rate (CAGR) of 2.1% from 2018 to 2022.
Based on insulation, the Global Power & Distribution
Transformer market is further bifurcated into oil immersed & dry.
With an estimated market share of 80.35% in 2022, oil immersed transformers are
expected to rule the global power and distribution transformer industry.
Transformers of the oil-type are used in electrical or power distribution
substations. Oil is used to bathe their core and coils, cooling and insulating
them at the same time. Because of this, the market is expected to register a
high CAGR. Oil is frequently used as an insulation medium in a range of
industries due to its ability to maintain stability under high temperatures.
Any potential damage from incoming high voltage is reduced
by its electrical insulating qualities, such as dielectric strength. Owing to
these advantages, oil insulators are the preferred choice among manufacturers.
In addition, oil permits reduced coil utilization and shields other components
from harm like burning. Owing to the use of oil as an insulator in circuit
breakers, high-voltage switches, oil-filled transformers, fluorescent light
ballasts, and capacitors, the market for oil immersion is expanding quickly.
Key market players in the Global Power & Distribution
Transformer Market include:
- Siemens
Energy Global GmbH & Co. KG
- Mitsubishi
Electric Corporation
- Hitachi Ltd
- CG Power
& Industrial Solutions Ltd
- Hyundai
Electric & Energy System Co., Ltd
- GE Grid
Solutions, Schneider Electric SE
- Eaton
Corporation plc
- Hammond
Power Solutions Inc
- Olsun
Electrics Corporation’s
- Tbea Co.,
Ltd
- JiangSu
HuaPeng Transformer Co. Ltd
- Toshiba
Corporation
- Bharat Heavy
Electricals Limited
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The Global Power & Distribution Transformer market is expected to maintain
a high CAGR in the upcoming years owing to Maximum Efficiency of Power &
Distribution Transformer, Rising Demand of Electricity Generation, Increasing
Adoption of renewable Power Generation, Technological Advancement of Smart Grid
among others across the world. Additionally, in the north America region,
the Canada government announced in 2021 that it will provide up to USD 964
million over four years for smart renewable energy and grid modernization projects
as part of its Smart Renewables and Electrification Pathways Program (SREPs).
Therefore, these factors are fuelling the market growth of
the “Global Power & Distribution Transformer Market in the
upcoming years, Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting organization.
“Power & Distribution Transformer Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type
(Power Transformer & Distribution Transformer), By Rating (1-500 MVA, Upto
1000 KVA & Above 500 MVA), By End User (Industrial, Commercial, Residential
& Utility), By Phase (Three Phase & Single Phase), By Insulation (Oil
Immersed & Dry), By Region, By Competition Forecast 2021-2031F”, has
evaluated the future growth potential of Global Power & Distribution
Transformer Market and provides statistics and information on market structure,
size, share, and future growth. The report is intended 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 present in the Global Power
& Distribution Transformer Market.
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