Global Distribution Transformer Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
Distribution transformer is equipment which is very important as that permit the delivery of electricity with a high degree of capillarity. The Electricity is generated from conventional sources like lignite, coal, oil, natural gas, nuclear power and hydro to non-conventional sources like solar, wind, and domestic waste, and agricultural but transmitted via transformer only. The global market of Distribution Transformer is expected to reach $ 19.25 million by 2022 growing at 7.02% CAGR during 2016-2022” Distribution of market have witness significant demand during the last few years due to increasing demand for electricity and increasing renewable generation which leads to high demand for distribution transformers to provide the generated power to the loads. This report of distribution transformer market is segmented on the basis of phase, power rating, insulating type and mounting type.
The development of Technology across the electrical equipment sector is anticipated to be a major factor which contributes towards the Middle East distribution transformer market size. Increasing trend towards the use of thinner material for outer metallic coating may further decrease losses. Beginning of nanotechnology is expected to improve various parameters. For instance, with wireless transmission integration of hydrogen sensors can help monitor device status remotely and take measures correctly and efficiently.
Primarily distribution transformers are used to distribute power in a specific locality, industrial estates and also remotely located buildings and houses and are usually found on the pole or underground near, commercial, or industrial or residential areas. Increasing population across the region can further instigate requirement for saving energy, that in turn is anticipated to catalyze market growth of distribution transformer over the forecast period. Increasing knowledge pertaining to sustainable development in the general population may more increase demand for energy efficient solutions. Also these devices shows to be one of the key sources of power loss and are easily replaceable and measurable. Thus, implementation of these innovative systems may results in decrease of power loss.
Six regions, namely, Asia-Pacific, North America, Europe, the Middle East, South America, and Africa has been analayzed by the distribution transformer market. Asia-Pacific is anticipated to dominate the market, due to factors like developing power growing industrial expenditure, T&D infrastructure, and demand for refurbishing aging distribution transformers. According to Research Institute of Electric Power, demand of power in India is likely to be double by 2025. As Asia Pacific represent the major as well as the rapidly growing market all over the world with CAGR of 6.9% over the forecasted period. As India surpassed GDP growth in the last quarter of 2015 of China economic slowdown in China, which is expected to make India one of the rapidly growing economies in the region and enhance the demand for different power infrastructure.
Many of major players in the market of distribution transformer includes Eaton Corporation Plc. (Ireland) Siemens AG (Germany), Crompton Greaves Limited (India), ABB Ltd. (Switzerland), and General Electric (US),and among others. The most commonly adopted strategy are agreements and contracts which was implement by the top players in the market, and followed by other developments and expansions.
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