The Global Distribution Transformers Market to Reach $29101 Million by 2027

According to a Triton Market Research report on the global distribution transformers market, it is estimated that the industry, which accounted for $15168 million in 2018, is likely to flourish at a CAGR of 7.57% by the year 2027.

A study by Triton Market Research with the title 'Global Distribution Transformers Market,' covers the Global Analysis and Forecast for 2019-2027 by Insulation Type (Oil-filled, Dry), by Mounting (Pole-mounted, Underground Vault, Pad-mounted), by Phase (Single-phase, Three-phase), and by Geographical Region (North America, Asia-Pacific, Europe, Latin America, Middle East and Africa).

A distribution transformer refers to a service transformer providing final voltage transformation in the electric power distribution system. It is used for a lower voltage distribution network for domestic and industrial purposes.

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As per the report, the global distribution transformers market is anticipated to reach $29101 million by 2027, progressing at a CAGR of 7.57% in the estimated years from 2019 to 2027. The growing focus on electrical safety and concerns regarding environmental protection are the basic factors driving the growth of the global distribution transformers market. The advent of smart grids, coupled with other technological advancements in the transformer industry, is also influencing the market growth positively. However, electrical faults in distribution transformers and stringent equipment standardization are hampering the growth of the distribution transformers market.

Based on insulation type, the distribution transformers market is divided into oil-filled and dry type. Considering the mounting, the market is segmented into pole-mounted, underground vault and pad-mounted. According to phase, it is segmented into single-phase and three-phase.

As per the regional landscape, Asia-Pacific is anticipated to be the fastest-growing region for the distribution transformers market in the forthcoming years. It is also expected to be the largest distribution transformers market with the highest revenue in the world. This growth can be attributed to the rising smart grid initiatives owing to the growing demand for electricity and technology upgradation. Huge investments are made in the smart grid projects in Asia-Pacific countries like Singapore, Indonesia, Vietnam, Malaysia, Philippines and Cambodia. The government is taking several initiatives to encourage the installation of power transmission lines and renewable energy in countries like China. These factors are affecting the regional market growth positively.

Few companies involved in the distribution transformers market are ABB, Kirloskar Electric Company, Siemens, General Electric, Schneider Electric, Wilson Power Solutions, Hyosung, Emerson Electric Co and Brush Electrical Machines Ltd.

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Question & Answer: Distribution Transformers Market

Question 1: What are the factors driving the growth of the global distribution transformers market?
Answer: The growing focus on electrical safety and concerns regarding environmental protection are the basic factors driving the growth of the global distribution transformers market. The advent of smart grids, coupled with other technological advancements in the transformer industry, is also influencing the market growth positively.

Question 2: Which factors are hampering the growth of the distribution transformers market?
Answer: Electrical faults in distribution transformers and stringent equipment standardization are hampering the growth of the distribution transformers market.

Question 3: How is the Asia-Pacific region influencing the distribution transformers market outlook?
Answer: As per the regional landscape, Asia-Pacific is anticipated to be the fastest-growing region for the distribution transformers market in the forthcoming years. It is also expected to be the largest distribution transformers market with the highest revenue in the world. This growth can be attributed to the rising smart grid initiatives owing to the growing demand for electricity and technology upgradation.

Huge investments are made in the smart grid projects in Asia-Pacific countries like Singapore, Indonesia, Vietnam, Malaysia, Philippines and Cambodia. The government is taking several initiatives to encourage the installation of power transmission lines and renewable energy in countries like China. These factors are affecting the regional market growth positively.

Question 4: Which companies are involved in the distribution transformers market?
Answer: Few companies involved in the distribution transformers market are ABB, Kirloskar Electric Company, Siemens, General Electric, Schneider Electric, Wilson Power Solutions, Hyosung, Emerson Electric Co and Brush Electrical Machines Ltd.

Related Report:
Global Electric Steel Market

The global electric steel market is anticipated to display revenue growth at $48110 million by 2028, with a CAGR of 5.85% in the forecasting years 2019-2028.

The rapidly growing urban population throughout the world is one of the primary factors driving the need for electricity, thereby fuelling the demand for electric steels. The rising demand for the application segment of electric steel like the transformers and motors is also another major factor driving the growth of the electric steel market. Moreover, the rising demand from the power sector, is also affecting the market growth positively.

Electric steel is a major component in electric motor, which is used in electric vehicles. There is an increase in the adoption of electric vehicles across the globe, thereby increasing the potential application of electric steels. The increasing government regulations to promote the adoption of electric steel is creating business opportunities to the market, and thus contributing significantly to the growth of the global electric market.

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