Middle East distribution transformer market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.
Middle East Distribution Transformer Market, which was worth USD 2.75 billion in 2015, will observe a lucrative growth over the coming seven years. Introduction of new technologies across the electrical equipment sector is anticipated to catalyze the industry growth in the near future.
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Furthermore, rapid population rise across the middle east regions is predicted to create heavy demand for energy conservation, which in turn is anticipated to fuel the market trends over the coming seven years. Escalating requirement for smart grid technology for energy storage and distribution will positively impact middle east distribution transformer market growth. As per Global Market Insights, Inc., study, “Middle east distribution transformer industry value is estimated to be worth USD 3.9 billion by 2024.”
Growing use of distribution transformers in centralized chilling plants, multistory buildings, and big footprint warehouses in middle east regions is expected to offer lucrative business growth opportunities. Furthermore, many beneficial features such as long feeder lines, reduction in length of cables, and improved operational footage area is predicted to boost middle east distribution transformer industry size over the coming years. Rapid power sector development in middle east regions, owing to rising urbanization and population explosion is forecast to fuel the industry growth over the coming seven years.
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High sale of medium distribution transformers is projected to drive the industry growth over 2016-2024
Considering the product trends in middle east distribution transformer market, medium distribution transformer industry size is expected to witness a high surge over 2016-2024, having touched a revenue margin of USD 1.2 billion in 2015. Small distribution transformer market share will grow at a rate of 3.9% over the coming seven years, driven by its rising popularity across indoor as well as outdoor applications.
Liquid filled technology is anticipated to boost middle east distribution transformer market size
As per the current technological trends, middle east distribution transformer industry is classified into dry type and liquid filled technology. High demand for liquid filled technology in the middle east distribution transformer market can be attributed to its compact and cost optimizing features. Dry type distribution transformers, which are preferred in marine applications, underground substations, and mining sites, are forecast to contribute significantly towards the overall revenue of middle east distribution transformer industry.
Saudi Arabia is forecast to dominate the regional landscape over the period of 2016-2024
Taking into consideration the regional outlook, Saudi Arabia is likely to make highest revenue contributions to the middle east distribution transformer industry by 2024. The growth can be attributed to high energy consumption in commercial and residential applications. UAE, which accounted for over 8% of the middle east distribution transformer market share in 2015, is expected to contribute substantially over the next few years.
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Market players will try to enhance their ROI through R&D investments and mergers & acquisitions. Industry participants making significant contributions to middle east distribution transformer market revenue include ABB Group, General Electric, SGB-SMIT, Bawan, Abaft, Alfanar Electrical Systems LLC, and Intact. Siemens Company, Alstom, Matelec, and TESAR SRL.
About Global Market Insights
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.