US$ 25.9 Billion Distribution Transformer Market Size 2023 | CAGR of 4.93% by 2028

The increasing utilization of electricity and power generation by individuals across countries is primarily driving the distribution transformer market

SHERIDAN, WYOMING, UNITED STATES, February 20, 2023 /EINPresswire.com/ -- The latest research study “Distribution Transformer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global distribution transformer market size reached US$ 19.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.93% during 2023-2028.

A distribution transformer, also called an isolation transformer, is used to alter the high voltage in electric power distribution. It comprises an oil tank, conservator, Buchholz relay, breather unit, oil indicator, temperature detector, pressure relief device, thermal relay, radiator, bushing, etc. In addition to this, the distribution transformer assists in allocating the power to remote areas, which is generated from the power plants. It also helps in reducing the voltage to provide isolation between the two windings as primary and secondary. Presently, distribution transformers are commonly available in numerous sizes and efficiencies.

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Distribution Transformer Market Trends and Drivers:

The increasing utilization of electricity and power generation by individuals across countries is primarily driving the distribution transformer market. Furthermore, the expanding global population and the rising investments in developing smart cities are propelling the adoption of this device in commercial, residential, and industrial complexes, which is stimulating the market growth. Apart from this, the implementation of stringent regulations by government bodies across several countries to reduce carbon emissions and encourage the use of renewable energy and distribution transformers is acting as another significant growth-inducing factor. Moreover, the growing consumer environmental concerns are bolstering the global market. Besides this, the inflating popularity of electric vehicles (EVs) is further catalyzing the market growth. Additionally, the development of EV charging stations is also augmenting the market growth. In line with this, extensive R&D activities by key market players to upgrade the existing infrastructures for minimizing power failures are expected to fuel the distribution transformer market in the coming years.

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Distribution Transformer Market Report Segmentation 2023-2028:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• CG Power and Industrial Solutions Limited (Murugappa Group)
• Eaton Corporation PLC
• EMCO Limited
• General Electric
• Hammond Power Solutions Inc.
• Hitachi Energy Ltd
• Ormazabal (Velatia S.L.)
• Schneider Electric
• SGB-Smit Group
• Siemens AG
• Toshiba Energy Systems & Solutions Corporation (Toshiba Corporation)
• Wilson Power Solutions and Wilson Transformer Company

The report has been segmented the market into following categories:

Breakup by Insulation Type:

• Dry
• Liquid Immersed

Breakup by Mounting:

• Pad
• Pole
• Underground vault

Breakup by Phase:

• Single
• Three

Breakup by Power Rating:

• Below 500 kVA
• 501 kVA–2500 kVA
• Above 2500 kVA

By Geography:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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IMARC Services Private Limited
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