The latest report on Distribution Transformers Market by Infinium Global Research gives complete coverage of the Distribution Transformers Market by type (underground, pole mounted, and pad mounted), power rating (greater than 10000 KVA, 500 kva-2500 KVA, less than 500 KVA, and 2500 KVA- 10000 KVA), end user (commercial & residential, industrial, and utilities) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Distribution Transformers such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Fast Energy Evolution from Conventional to Renewable are Major Factors Driving the Growth of The Distribution Transformers
A transformer that delivers the final voltage transformation in the electric power distribution system is known as distribution transformers or service transformers. It terminates the use of voltage in the distribution lines to the level being used by consumers. Distribution transformers aimed to work most efficiency at lower loads and do not work at full load. Further, to increase its efficiency voltage regulation in transformers is kept a minimum. Distribution transformers are usually smaller than 500 KVA. Besides, distribution transformers less than 33 kV with voltage distribution are used in industries whereas, 380V/220V distribution transformers are used for domestic purposes.
Increasing demand for automated & electrical vehicles and fast energy evolution from conventional to renewable are major factors driving the growth of the distribution transformers market. Further, transformation in battery storage and increasing demand for power owing to urbanization, industrialization, and growing technological applications are also supporting the growth of the market.
Addition to this, developments in power infrastructure in developing countries, smart grid advantages for economic efficiency, upsurge in renewable energy results in growing competitiveness of solar and wind power are again some of the boosting factors for the growth of the market. several organizations such as IEEE are taking initiatives for the smart grid to support the growth of the market. Several organizations are taking initiatives for using the digital revolution in the distribution transformers market. This is fueling the growth of the market. On the other side standardization of equipment in the market is likely to restrain the growth of the market. Moreover, the smart grid is the most current development in the electricity market and is anticipated to generate a growth opportunity in the market during the forecast period.
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Consumption of Renewable Energy and Initiatives Taken by the Country for Smart Grid Task to Deal With Increasing Demand for Electricity
As per the geographies, North America dominated the growth of the distribution transformers market. The U.S holds the highest market share in the market which dominates the growth of the North America region. In North America region factors such as large per capita electricity consumption, increasing electricity demand and revolutionize the old electric grid system are driving the growth of the region.
Further, consumption of renewable energy and initiatives taken by the country for smart grid task to deal with increasing demand for electricity are also boosting the growth of the North America region. The Asia Pacific is estimated to be the fastest growing region in this market. Factors such as rising spending on power developing industrial, high levels of infrastructural expansions, industrialization and increasing demand for modernizing distribution transformers are some of the major factors driving the growth of the Asia Pacific region for the distribution transformers market.
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- Comprehensive analysis of global as well as regional markets of the Distribution Transformers.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.