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Distribution Transformer Market Revenue & Growth Analysis By Top Manufacturers - ABB Limited, General Electric, Siemens AG, Schneider Electric, CG Power and Industrial Solutions Limited

10-16-2019 01:31 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Distribution Transformer Market Revenue & Growth Analysis

Primarily augmented by the massive refurbishment of aging electric networks, distribution transformer market has lately been witnessing a slew of innovative tech advancements. The exponential demand for transformers has been observed to be directly proportional to the requirement for uninterrupted power supply across the globe.

As modern methodologies such as smart monitoring and control distribution units (CDUs) observes an exponential rise, so does the demand for transformers, which would eventually help propel distribution transformers industry share. Another noticeable factor witnessed across distribution transformer market is the exceptionally fierce competitive landscape. As the requirement for highly efficient and unique transformers is on the rise, companies have been striving to come up with a range of innovative products to score an edge over their competitors. In consequence, this is expected to create a profitable growth path for distribution transformer market in the years ahead.

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Distribution transformer market, on account of its massive application spectrum and cutthroat competitive landscape, has witnessed numerous developments since recent times, and is expected to continue depicting similar trends in the years ahead. Below mentioned are three pivotal instances observed across distribution transformer industry this year – instances that may have a noticeable impact on the commercialization potential and popularity landscape of this business sphere.
In May 2017, two prominent South Korean firms, namely, the Hyundai Electric & Energy System and POSCO DAEWOO, had gained an order worth USD 44 million from the UK’s National Grid. The deal would apparently supply 23 high-pressure transformers to the National Grid by 2020, which would allow both the firms to considerably strengthen their stance in distribution transformer market.

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The renovation and upgradation of grid networks can be majorly credited for distribution transformer market growth, given how extensively transformers are used in these refurbishment projects. Say for instance, The African Development Bank (AfDB) has recently approved a massive loan worth USD 83.64 million and a grant of USD 14.15 million from the African Development Fund (ADF) to the Federal Democratic Republic of Ethiopia, in order to partially fund the AATDRUP (Addis Ababa Transmission and Distribution System Rehabilitation and Upgrading Project).
The project is expected to be completed by the end of 2020, and would involve the replacement and installation of 582 distribution transformers among other works. The project, of a remarkably high magnitude, underlines how refurbishment projects have the ability to transform distribution transformer industry outlook.

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Furthermore, it is also prudent to mention that major companies partaking in distribution transformer market share have been attempting to bring forth a plethora of newer growth strategies to sustain their position in this business space. The robustly growing demand for electricity worldwide pertaining to the exponentially rising energy consumption, in tandem with the favorable inclination of regional governments toward micro-grid network expansions, are certain to fuel distribution transformer market size, slated to cross USD 30 billion by 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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