North America Distribution Transformer Market Forecast 2018-2026
North America is one of the fastest growing markets for distribution transformers and is expected to grow at a CAGR of 6.09% over the forecast period of 2018-2026.The fact that renewable energy is expected to gain traction in this region, coupled with the continuous digital transformation of utilities is presenting the market with plenty of growth opportunities.
The primary drivers for the market growth include smart grid electrifying market, advances in transformer industry, growing focus on green energy and modernization of the ageing power infrastructure. Although the outlook looks promising, the market may have to face certain challenges concerning the standardization of equipment and stress causing failures that might restrain the market growth. At present, the market is being segmented on the basis of phase (single or three phase), on the basis of insulation (dry or oil-filled) and on the basis of the mount (pole, pad, underground vault, etc.).
Some of the prominent players in the market include Celme S.R.L, ABB Ltd, Diamond Power Infrastructure Ltd, Eremu, Emerson Electric Co, General Electric, Schneider Electric, Hammond Power Solutions, Inc, Siemens Ag and Wilson Power Solutions.