Transformer is an electrical device that transfers electrical energy between two or more circuits through electromagnetic induction. Transformer are used to increase or decrease the alternating voltages in power applications. It works on the principle of Faraday’s Law of Electromagnetic Induction which states that “the magnitude of voltage is directly proportional to the rate of change of flux.”
Transformer is a very diverse subject areas, it comprises from small to very large systems. Transformer is broadly segmented into distribution transformer, power transformer and others (instrument transformer). Transformer systems have been dominating the renewable energy market as well conventional market in recent years because of the ability to transmit & distribute the energy in form of electricity and supply according to end user needs.
Rapid residential expansion coupled with favourable inclination towards the integration of a sustainable electrical network will drive the distribution transformer market size. Moreover, the market is driven by various factors such as rise in transmission & distribution infrastructure investments and growth in renewable energy sector. This is mainly because, transformer systems are highly efficient transmission & distribution equipment. However, the growth of the market can be hindered by the due high initial capital cost of transformer and reluctance to replace aging Infrastructure.
The distribution transformer market has also been classified based on by Type (Pole Mounted, Pad Mounted, And Underground), by Phase (Single & Three), by Insulation (Oil- immersed, and Dry), by Power Range (0-315kVA, 316-2499Kva, 2500-10000kVA and above 10000kVA) and by Region. Globally, advancing smart transformer technologies coupled with stringent energy efficiency compliances will comprehensively augment the global distribution transformer market.
Global Distribution Transformer market is growing with the rapid pace; mainly due to advancement in technologies. According to a recent study report published by the Market Research Future, The global market of Distribution Transformer is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period.
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Distribution Transformer Market – Competitive Analysis
Distribution Transformer market appears to be competitive with the presence of several large and small players operating in the Distribution Transformer Market. These Key players compete based upon pricing, quality, Technology and reputation. Distribution Transformer market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Moreover, manufacturers mainly ensure to deliver the best quality products based on innovative technologies, and best practices.
Industry/ Innovation/ Related News:
14 March 2017: ABB launches world’s first digital distribution transformer. Integrated sensing and monitoring technology in ABB’s new TXpert™ transformer will provide intelligence to maximize reliability, optimize operating and maintenance costs and manage the asset more efficiently.
In 2016, Siemens, one of the most innovative suppliers of distribution transformers, signed a contract to supply the Iraqi market with 1,250 distribution transformers. The total order is about €9 million.
9 July, 2015: GE Introduced Next-Generation Transformer which provides customers safer, more environmentally friendly transformer for urban applications.
Distribution Transformer Market – Segments:
Global Distribution Transformer Market is segmented in to 5 Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Type: Pole Mounted, Pad Mounted, and Underground
Segmentation by Phase: Single & Three
Segmentation by Insulation: Oil–immersed and Dry
Segmentation by Power Range: 0–315kVA, 316-2499Kva, 2500-10000kVA and above 10000kVA
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Distribution Transformer Market – Regional Analysis
Asia-Pacific held the largest market share within distribution transformer market, followed by North America and Europe. China has seen strong growth in the demand for electricity in the past couple of decades, due to high levels of industrialization and infrastructural developments. The continuous need to update and upgrade existing distribution infrastructure to serve the growing demand for electricity will lead to a positive growth of the transformer market over the forecast period. In the emerging economies of Asia-Pacific, extensive power plant capacity additions, economic growth, and the need to improve access to electricity are driving grid expansion and the distribution transformer market.