Asia Pacific Distribution Transformer Market Forecast 2020-2028
The distribution transformer market of Asia Pacific is evaluated to record a CAGR of 8.43% during the forecast period of 2020-2028. The lucrative smart grid market in the countries of the region is one of the important factors fueling market growth in the region.
The Asia Pacific distribution transformer market growth is analyzed further by segmenting the region into countries such as South Korea, India, China, Australia & New Zealand, Japan, Vietnam, Thailand, Indonesia, and the rest of Asia Pacific that includes Malaysia, Bangladesh, Singapore, Nepal, and other countries. South Korea’s smart grid market was expected to witness rapid growth after 2019, owing to the construction of two high-voltage HDVC projects and infrastructure development of the power vehicle chargers. In countries like Thailand, few investments are in the pipeline. Also, the EGAT had already announced to increase the range of electricity grid to ensure reliability, which will boost the power generation from renewable sources from 560MW to between1000MW and 2000MW, by 2036 in the country. In Indonesia, the market is estimated to grow at a steady rate, owing to reduced investments in the energy sectors.
In Vietnam, the electricity demand is predicted to increase by 8% annually until 2025, so the government is progressing towards developing renewable energy sources to ensure energy security and tackle the growing power demand. In Singapore, the latest trend is that of a transition from nonrenewable sources of electricity to renewable sources, for the development of the power sector. Malaysia is prepared to maximize the potential of its green industry and renewable energy sector in 2020 to achieve its goal of becoming South East Asia’s hub for green technology.
Hyosung Corporation, Crompton Greaves Limited, Kirloskar Electric Company Limited, Hitachi Ltd, Siemens AG, etc. are some of the renowned companies functioning in the market.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
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