Distribution Transformer Market Size to hit $30bn by 2024

Germany distribution transformer market is set to surpass 3,500 annual installation by 2024. Briskly expanding micro grid networks coupled with growing demand for energy from commercial and residential establishments will positively impact the industry outlook. Favorable regulatory framework towards the institution of a reliable and robust electricity infrastructure will propel the business landscape.

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Distribution Transformer Market is set to exceed USD 30 billion by 2024.

Favorable inclination towards integration of sustainable electrical network coupled with rapid residential expansion will positively influence the distribution transformer market growth. Rising demand for the upgradation and replacement of ageing grid infrastructure across developed nations will foster the industry landscape. In addition, growing investments from financial institutions to sustain the supply and demand parity across the globe will further augment the product demand.

Stringent energy efficiency compliances along with the evolving smart transformer technologies will positively impact the distribution transformer market . Growing consumer awareness towards the environmental security coupled with volume manufacturing practices adopted by the established manufacturers will stimulate the product penetration. The industry is anticipated to witness a comprehensive turnaround on account of expeditious expansion of distribution infrastructure across the emerging nations.

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Rapid urbanization across the developing economies along with rapid expansion of utility aided grid infrastructure to sustain the growing rural electrification demand will drive the 2.6 MVA to 10 MVA distribution transformer market. Renewable capacity addition across the commercial and residential establishments for the integration of sustainable energy mix will further complement the product penetration. Propositions in line with energy efficiency coupled with rapid expansion of smart grid infrastructure has instituted a favorable industrial scenario.

The U.S. distribution transformer market is set to witness growth owing to the rising investments toward the refurbishment of aging infrastructure across the country. Rapid expansion of infrastructure in compliance to peninsula electrification program will further augment the industry growth. In 2017, regulators across the U.S. provisioned investment worth USD 100 million to cater the rising electricity demand across the rail networks.

Middle East & Africa distribution transformer market share is anticipated to witness comprehensive turnaround owing to the ongoing inclination towards distributed generation units coupled with the briskly expanding off-grid electricity infrastructure. Indulgence of major financial institutions including the World Bank, the African Development Bank and Asian Development Bank across the region to sustain the lagging power sector will considerably boost the product penetration. In 2017, African Development Bank provisioned over USD 12 billion across the African power sector. The investment aims at catering the growing demand for electricity across the region consequently with the establishment of an effective grid infrastructure.

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Key participants in the distribution transformer market include GE, Kirloskar, Toshiba, ABB, SPX Transformer, EATON, Schneider Electric, Ormazabal, Crompton Greaves, Siemens, Ruhstrat, Hyosung, Daihen, Hyundai Electric, Mitsubishi Electric, Celme, and BHEL.

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