USD 24.5 billion
Report ID: SQSG55A2004 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 61 | Figures: 75
Global Distribution Transformer Market size was valued at USD 24.5 billion in 2021 and is poised to grow from USD 26.53 billion in 2022 to USD 52 billion by 2030, growing at a CAGR of 8.3% in the forecast period (2023-2030).
A distribution transformer, also known as a service transformer, steps down the voltage utilized in the distribution of electricity as the last voltage transition in the system. The term "transformer" refers to a piece of equipment that converts electrical energy from one alternating-current circuit to one or more other circuits by either raising (stepping up) or lowering (stepping down) the voltage. To run low-voltage devices like doorbells and toy electric trains as well as to raise the voltage from electric generators so that electric power may be delivered over great distances, transformers are used for a broad variety of functions. The final voltage transformation in the electric power distribution system is provided by a distribution transformer or service transformer, which steps down the voltage in the distribution lines to the level utilized by the customer.
Typically, distribution transformers don't work at full load; instead, they operate most effectively at lower loads. Additionally, to increase efficiency, voltage regulation is minimized in these transformers. As a result, distribution transformers are made with a low leakage reactance. Distribution transformers are typically used to describe transformers with capacities under 500 kVA. 380V/220V distribution transformers are utilized for home uses, while distribution transformers with voltage distribution less than 33 kV are employed in the industry. Depending on the total number of consumers in an area, different distribution transformers can serve different numbers of customers.
US Distribution Transformer Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 24.5 billion
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The global distribution transformer market has been segmented based on type, mounting, and region. By type, the Distribution Transformer market is segmented into oil-filled, and dry types. Based on the mounting Distribution Transformer market is classified as pole and pad. Based on region distribution transformers are segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Distribution Transformer Market Analysis by Type
In the year 2021, oil-filled segments dominated the global Distribution Transformer Market. Liquids are used to cool oil-filled transformers, which makes them ideal for outdoor applications. They are more dependable overload capabilities, more efficient, and have longer service lives. Such sorts of transformers are a better choice than dry varieties since they use a liquid as a medium for improved cooling. The ability to handle larger ratings and overloads is an oil-filled transformer's greatest advantage. The Distribution Transformer market for oil-filled distribution transformers is anticipated to be driven by nations like China and India, who are likely to improve their electrification rates by extending their transmission and distribution networks. For instance, the Pradhan Mantri Sahaj Bijli Har Ghar Yojana of the Indian government seeks to electrify every home.
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Asia-Pacific leads the world in distribution transformer demand, followed by North America, Europe, the Middle East and Africa, and Latin America. The market for distribution transformers is being significantly stimulated by an increase in manufacturing activity and electrification programs in Asian nations like India, Bangladesh, and Vietnam. Demand for distribution transformers has increased due to the rapid rise in industrial and manufacturing facilities. The use of distribution transformers is necessary because of the growth of railways, metros, bullet trains, IT hubs, commercial centers, etc.
The demand for distribution transformers has increased due to rapid urbanization. Sales of distribution transformers have increased along with the number of power production facilities and transmission infrastructure. Out of the five regions, the African continent will have the greatest potential. Demand for distribution transformers in the next decades will be fueled by the electrification of the African continent in the upcoming decade. The incorporation of renewable energy into the electrical grid has raised investments in electrical power systems and boosted the distribution transformer business in both developed and emerging nations. Demand for distribution transformers will increase as electrical infrastructure in North America and Europe is automated and modernized.
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Distribution Transformer Market Driver
Distribution Transformer Market Restraint
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Major players in the distribution transformer market are expanding their footprint through a variety of strategic alliances and mergers with suppliers of raw materials or services. To increase safety and reliability and provide themselves a competitive edge over rivals, prominent players are also engaged in R&D operations to integrate smart technologies with distribution transformers. For instance, In September 2021, Egypt signed a USD 254 million financing deal to expand the power distribution network. This financing deal was signed between the Egyptian Electricity Transmission Company (EETC) with several Egyptian banks that would allow it to add to and expand the country's transformer stations. This distribution network expansion project is likely to include the installation of distribution transformers, which will boost the distribution transformer market’s growth.
Distribution Transformer Market Top Player's Company Profiles
Distribution Transformer Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by type, the oil type dominated the global distribution transformer market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia-Pacific dominated the global. The distribution transformer market owing to the region & high population, as well as a significantly higher number of researches conducted along with the urbanization happening in these countries.
|Market size value in 2021||USD 24.5 billion|
|Market size value in 2030||USD 26.53 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Distribution Transformer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Distribution Transformer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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