Distribution Transformer Market Size, Industry Segmentation and Future Insights 2023

Distribution Transformer Market Highlights:-

Transformer is an electrical device that transfers electrical energy between two or more circuits through electromagnetic induction. Transformer are used to increase or decrease the alternating voltages in power applications. It works on the principle of Faraday’s Law of Electromagnetic Induction which states that "the magnitude of voltage is directly proportional to the rate of change of flux."

An efficient, economically feasible, and eco-friendly electricity infrastructure is the backbone of modern civilization. Recent years have experienced noticeable trends in power industry, be it smart grid concepts, rising demand for electrical and automated vehicles, transformation in battery storage, rapid energy transition from conventional to renewable. The ever-rising demand for power is due to the factors such as industrialization and urbanization, increasing technological appliances, and rising economy of nations. All these trends are somehow related to the increased demand for power. However, according to BP stats 2017, in Asia Pacific, the total electricity generated in 2016 was 10904.7 TWh, while the overall consumption was only 9,331 TWh. This paves the way for a higher demand for power distribution infrastructure to bridge the gap of supply and demand.

Rapid residential expansion coupled with favourable inclination towards the integration of a sustainable electrical network will drive the distribution transformer market size. Moreover, the market is driven by various factors such as rise in transmission & distribution infrastructure investments and growth in renewable energy sector. This is mainly because, transformer systems are highly efficient transmission & distribution equipment. However, the growth of the market can be hindered by the due high initial capital cost of transformer and reluctance to replace aging Infrastructure.

Distribution Transformer Market - Competitive Analysis:-

Distribution Transformer market appears to be competitive with the presence of several large and small players operating in the Distribution Transformer Market. These Key players compete based upon pricing, quality, Technology and reputation. Distribution Transformer market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Moreover, manufacturers mainly ensure to deliver the best quality products based on innovative technologies, and best practices.

Industry Major Key Players:-

The major players operating in the market of global distribution transformer are Eaton Corporation (Dublin), and General Electric (U.S.). Mitsubishi Electric Corporation (Japan), Ormazabal (Spain), SPX Transformer Solutions Inc. (U.S.), EREMU, S.A. (Spain),Wilson Power Solutions Ltd (U.K), Emerson Electric (U.S.), Hitachi (Japan), Kirloskar Electric Co. Ltd. (India), Wenzhou Rockwell Transformer Co., Ltd. (China), ABB Ltd (Switzerland), Lemi Trafo Jsc (Bulgaria), Hammond Power Solutions Inc. (Canada), Bowers Electricals Ltd (U.K), Bharat Heavy Electricals Ltd (India), and Crompton Greaves Ltd. (India) are among others who are exceedingly proficient to offer the finest solutions to the industry.

Industry/ Innovation/ Related News:-

14 March 2017: ABB launches world’s first digital distribution transformer. Integrated sensing and monitoring technology in ABB’s new TXpert™ transformer will provide intelligence to maximize reliability, optimize operating and maintenance costs and manage the asset more efficiently.

In 2016, Siemens, one of the most innovative suppliers of distribution transformers, signed a contract to supply the Iraqi market with 1,250 distribution transformers. The total order is about €9 million.

Regional Analysis:-

Asia-Pacific held the largest market share within distribution transformer market, followed by North America and Europe. China has seen strong growth in the demand for electricity in the past couple of decades, due to high levels of industrialization and infrastructural developments. The continuous need to update and upgrade existing distribution infrastructure to serve the growing demand for electricity will lead to a positive growth of the transformer market over the forecast period. In the emerging economies of Asia-Pacific, extensive power plant capacity additions, economic growth, and the need to improve access to electricity are driving grid expansion and the distribution transformer market.

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