North America Power & Distribution Transformer Market is Expected to be Dominated by Industrial Segment During the Forecast Period
Growing transmission network
research and rising investments in renewable energy sources are the major factors
propelling the market growth in the forecast period.
According to TechSci Research report, North America Power & Distribution
Transformer Market - By Region, Competition Forecast & Opportunities, 2018-2028,
the North America Power &
Distribution Transformer Market is expected to register robust growth during the forecast period, 2024-2028.
As a result of
quick industrialization and rising domestic power demand, the market for power
transformers in North America is growing. In North America, there is a steadily
expanding demand for power, which has increased the consumption of energy
resources. Large transmission networks are now present everywhere, as well as
more power plants. Move low voltage generator electricity through distribution
channels inside the power grid network, a particular kind of transformer known
as a power transformer is used. It is an essential component of the electrical
grid and helps with the frequency-invariant movement of electricity from one network
to the next. Low voltage power generation is more affordable, but it generates
large line currents. However, efficient power transfer is made possible by
raising the voltage of the incoming electricity. As a result, raising the
voltage typically involves the use of a power transformer. These transformers
are built to perform at peak load and operate at optimal efficiency. Higher
transmission voltages are the product of years of research into transmission
networks. Additionally, the U.S.
government's focus on developing renewable energy contributes to business
growth. In the United States, the industrial sector used 3.93 trillion kWh of
power in 2021.
Browse over XX market data Figures spread
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The North America Power
& Distribution Transformer Market is segmented based on type, rating, end
user, phase, and insulation. Based on type, the market is segmented into power transformer and
distribution transformer. Based on rating, the market is
segmented into upto 100 kVA, 100.1-500kVA, 500.1-1000kVA, 1000.1-5000kVA,
5.1-100MVA, 100.1-500MVA, and Above 500MVA. By end user, into residential,
commercial, industrial, and utility. Based
on insulation, the market is divided into oil immersed and dry. Based on phase, the market is
divided into single phase and three phase.
Based on end user, the market is segmented into residential,
commercial, industrial, and utility. The industrial sector maintained a
sizeable proportion of approximately 42%
and will expand over the forecast years. Industrial settings are where power
transformers are most frequently employed. To alter the power distribution
voltage levels, power transformers are frequently used in industrial and mining
processes, civil construction, and other end-use applications. The use of power
transformers in the industrial sector is anticipated to grow at a CAGR of 7.3%
due to the expansion of the industrial sector, which includes operations like
building and running power plants, among other things.
The expansion of the power transformer market is
primarily being driven by an increase in the use of single phase transformers
for electricity distribution and a rise in electricity consumption in North
America. The government's emphasis on boosting rural development and increasing
the electrical transmission network will fuel the demand for single-phase power
transformers. Single phase transformers are frequently used in voltage demand
applications in the mining, maritime, and oil and gas sectors because of their
safety advantages over liquid-filled transformers. Considering the growth of
the power transformer business, this would be advantageous.
Based on Region, the market is divided into United
States, Canada, and Mexico. United States is expected to dominate the market. The
United States is probably the largest market for transformers in North America
due to the country's steady rise in energy demand and rising number of
commercial and industrial operations. The country's transformer market is
anticipated to be driven by the consistently rising need for power
supply. The nation is experiencing a significant increase in the
installation of renewable energy capacity, which necessitates the use of
numerous power and distribution transformers to move electricity from the
location of generating to the customers. 17908 megawatts (MW) of renewable
energy installations were added in the United States in 2019.
Major market players in the North America Power &
Distribution Transformer Market are: -
- ABB Ltd
- Crompton Greaves Ltd
- Hitachi Ltd
- Mitsubishi Electric Corporation
- General Electric Corporation
- Siemens AG
- Schneider Electric SE
- TBEA Co., Ltd
- Toshiba Corporation
- Emerson Electric Co.
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" Rising North America
need for reliable and consistent electrical energy. Several developed nations
are now putting their attention on updating their outdated electricity
infrastructure. the key factors promoting the market are the development of
smart grids, which will stimulate demand for I.O.T. compatible distribution
transformer. Government initiatives in North American countries to improve
energy production, distribution, and transmission capabilities, driving up the
need for power transformers. The transformers market would expand during the
projected period due to favorable government electrification policies.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based North
America management consulting firm.
"North America Power & Distribution Transformer Market - Segmented By
Type (Power Transformer and Distribution Transformer), By Rating (upto 100 kVA,
100.1-500kVA, 500.1-1000kVA, 1000.1-5000kVA, 5.1-100MVA, 100.1-500MVA, and Above
500MVA), By End User (Residential, Commercial, Industrial, and Utility), By
Phase (Single Phase and Three Phase), By Insulation (Oil Immersed and Dry),
Size, Share, Trends, Opportunity, and Forecast 2018-2028" has evaluated the future growth potential
of North America Power & Distribution Transformer 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 the North
America Power & Distribution Transformer Market.
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