Global Pad Mounted Transformer Market

Global Pad Mounted Transformer Market Size, Share, Growth Analysis, By Rated Power Type(Less than 1mVA, More than 1mVA), By Phase(Single Phase, Three Phase), By End Use(Residential, Commercial) - Industry Forecast 2023-2030


Report ID: SQSG20E2008 | Region: Global | Published Date: February, 2024
Pages: 260 | Tables: 88 | Figures: 67

Global Pad Mounted Transformer Market Insights

Pad Mounted Transformer Market was valued at USD 1.43 billion in 2021, and it is expected to reach a value of USD 2.91 billion by 2030, at a CAGR of more than 5.33% over the forecast period (2023–2030).

An underground utility distribution transformer known as a pad mount transformer is mounted on a small concrete pad and is typically secured inside a locked metal cabinet. These distribution transformers are typically found in housing developments. Like transformers in utility substations, this type of transformer does not require fencing because all of the live contact points are contained within a grounded metal box. It can be installed in residential areas. During the forecast period, factors including plans to expand power generation capacity globally, rising demand for replacing/refurbishing ageing distribution transformers, and rising electricity demand, particularly in China and India, due to rapidly expanding industrial and infrastructure development activities, are predicted to propel the market. Additionally, the market for pad mounted transformers is expanding due to the expansion of renewable energy sources and the ageing of the transmission and distribution (T&D) infrastructure. The market's growth is likely to be hampered by delays in the global implementation of electrification projects.

Improvements in operational management, widespread application of information technology to equipment, and technological advancements in equipment drive the pad-mounted transformers market. The elements that are likely to further operate the market include improved efforts by significant market competitors to combine engineering, focused architecture, and planning's manufacture of extremely proficient equipment. Additionally, rapidly developing industries, quick mergers, and additions by market regulators, to direct the market and persuade the community's need, may aid in the development of the pad-mounted transformer market.

US Pad Mounted Transformer Market  is poised to grow at a sustainable CAGR for the next forecast year.

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Global Pad Mounted Transformer Market Segmental Analysis

Global pad mounted transformer market is segmented based on the rated power type, phase, end use, and region. On the basis of rated power type, the Pad Mounted Transformer Market can be segmented into less than 1mVA and more than 1 mVA. On the basis of phase, the Pad Mounted Transformer Market is segmented as a single phase and three phase. Based on the end-use industry type, the pad mounted transformers market is segmented as residential, commercial, and industrial. Based on region Pad Mounted Transformer Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Pad Mounted Transformer Market Analysis by Rated Power Type

On the basis of rated power type, the market can be segmented into less than 1mVA and more than 1 mVA. Less than 1 mVA segment is expected to grow faster. In the commercial and residential sectors, there is anticipated to be increased demand for power outputs under 1 mVA. Low power management systems are heavily used in the commercial sector. Meanwhile, the residential sector's power needs don't necessitate high power-consuming machinery. Such requirements have expanded the use of pad mounted transformers with a 1mVA power rating. However, due to the industrial growth that is occurring in places like Asia and the Middle East, the more than 1mVA segment is also anticipated to experience a healthy growth.

Pad Mounted Transformer Market Analysis by Phase

On the basis of phase, the market is segmented as a single phase and three phase. The segment of three phased pad-mounted transformers held the larger market share. Three-phase pad-mounted transformers have many advantages over single-phase pad-mounted transformers, including high applicability, compatibility, and capacity. Such transformers also offer a higher level of safety and are better suited for underground distribution systems. These qualities guarantee an uninterrupted and secure supply of electricity. Modern accessories that can manage voltage sag and capacity overload are built into three-phase pad mounted transformers.

Pad Mounted Transformer Market Analysis by End Use

Based on the end-use industry type, the pad mounted transformers market is segmented as residential, commercial, and industrial. Due to the market's rapid industrialization, particularly in developing nations, commercial and industrial applications together account for a sizeable portion of these. Pad-mounted transformers are also necessary for expanding commercial construction projects because of their safe design, including mall construction, hotel construction, and recreation centre construction.

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Global Pad Mounted Transformer Market Regional Insights

Asia-Pacific dominates the pad mounted transformer market. Due to increased plans for power generation capacity, soaring demand for replacing/refurbishing outdated distribution transformers, and rising electricity demand, particularly in China and India, as a result of quickly expanding industrial infrastructure development activities, Asia-Pacific is anticipated to be one of the fastest-growing regions. As a result of the country's unprecedently rapid economic growth, China has experienced high rates of electricity demand. Approximately 28% of the world's electricity is produced in this nation, A rise of more than 35% from 2015, when it was 5,550 TWh, was seen in the country's electricity consumption, which in 2020 was 7,510 TWh. In India, utilities and the government are creating new generation projects, particularly those utilizing renewable energy, to meet the rising demand for electricity. Due to the likely need for distribution infrastructure to support these projects, pad-mounted transformer usage is predicted to increase across the country. It is essential to upgrade the power distribution network in order to increase the generation of renewable energy because India's aging electricity infrastructure is rapidly approaching the end of its useful life. Additionally, the nation has been making efforts to update its energy infrastructure. The government declared plans to invest nearly USD 1 trillion in power by 2030 to upgrade infrastructure and provide consumers with electricity around-the-clock in 2016. Consequently, the aforementioned elements are likely to supplement the demand for pad-mounted transformers throughout the Asia-Pacific region during the anticipated period.

During the forecast period, the markets in Europe and North America are probably going to grow slowly. Since the economies of Western European nations are still recovering from their recent recession and are unlikely to invest in modernising their power grid networks to create smart grids, the market in Europe is likely to grow slowly. Due to the relatively developed markets in nations like the US and Canada, the market in North America is anticipated to grow slowly.

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Global Pad Mounted Transformer Market Dynamics

Pad Mounted Transformer Market Driver

  • Due to their widespread use in various sectors, including industrial, commercial, and residential facilities, pad-mounted transformer demand has been rising. However, the industrial sector is the most beneficial and is still evolving as demand for uninterrupted power rises. The need for a constant and reliable power supply has therefore increased. Additionally, the market will benefit from the growing adoption of innovative and expansive technology.
  • One of the main factors propelling the pad-mounted transformer market is the increase in investment for the construction and modernization of transmission and distribution networks around the globe. The market is also likely to be driven by improvements in process control, widespread use of information technology in manufacturing, and technological advancements. The population is growing, and people are living better lives, which is increasing energy consumption. This has a favorable effect on the market's expansion as well.

Pad Mounted Transformer Market Restraint

  • One of the biggest problems the market has is maintenance. The market expansion of pad-mounted transformers is somewhat constrained by high installation and maintenance costs. Regular inspection, bushing cleaning, and checks of oil quality, dissolved gases, furanic compounds, power factors, winding resistance, temperature, partial discharge, physical condition, and load tap changer condition are all included in maintenance costs. The end user and the uninterrupted power supply both need the pad-mounted transformer. The Pad-mounted transformer must be purchased in addition to the generator. When purchased along with the generator, the Pad-mounted transformer might be less expensive. Also, it is preferred that the ATS remain connected until utility power is lost due to the improved availability of technology and technique.

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Global Pad Mounted Transformer Market Competitive Landscape

Global pad mounted transformer market is competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Top Players in the Pad Mounted Transformer Market

Pad Mounted Transformer Market Recent Developments

  • In May 2022, Hitachi Energy India Ltd. Introduced its new transformer components factory in Vadodara, Gujarat. Located in its largest manufacturing location in Indio, this factory will produce dry bushings with the most reliable technology called 'Resin Impregnated Paper'. This is the first manufacturing facility in India producing Resin Impregnated Paper bushings up to 400kV voltage level. This dry technology improves the thermal, electrical and mechanical performance of transformer bushings, making them more resilient and reliable - critical in transformers deployed in the power grid.
  • In Jan 2022, Power management company Eaton completed the acquisition of Royal Power Solutions, a U.S.-based manufacturer of high-precision electrical connectivity components used in electric vehicle, energy management, industrial and mobility markets. Under the terms of the agreement, Eaton paid D600 million for Royal Power Solutions, which represents approximately 13.6 times the company’s estimated 2022 EBITDA.

Global Pad Mounted Transformer Key Market Trends

  • The trend of oil-filled transformers is believed to support the market growth. Liquids are used to cool oil-filled transformers, which makes them ideal for outdoor applications. They are more reliable overload capabilities, more efficient, and have a longer service life. Liquids are used to cool oil-filled transformers, which makes them ideal for outdoor applications. They are more reliable overload capabilities, more efficient, and have a longer service life.

Global Pad Mounted Transformer Market SkyQuest Analysis

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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, Asia-Pacific dominates the global pad mounted transformer market. Due to severe water shortage that the region's developing economies face, Additionally, during the anticipated period, the region's market for Pad mounted transformers will experience further growth due to the region's growing population. On the other hand, based on the segmentation, the segment of concrete can hold a lot more water than tanks made of other materials and can be built to meet the needs of a single user or a large number of consumers, they dominate the market. On the basis of end use, the municipal segment dominates the market. The segment's growth is also anticipated to be fuelled by rising urbanization and a growing population.

Report Metric Details
Market size value in 2021 USD 1.43 billion
Market size value in 2030 USD 2.91 billion
Growth Rate more than 5.33%
Base year 2021
Forecast period 2023–2030
Forecast Unit (Value) USD Billion
Segments covered
  • Rated Power Type
    • Less than 1mVA, More than 1mVA
  • Phase
    • Single Phase, Three Phase
  • End Use
    • Residential, Commercial, Industrial
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)
Companies covered
  • ABB Ltd. (Switzerland)
  • Crompton Greaves (India)
  • Eaton Corporation PLC. (Ireland)
  • Ermco. (US)
  • Federal Pacific (US)
  • General Electric (US)
  • Hitachi (Japan)
  • Moloney Electric, Inc. (Canada)
  • Olsun Electric Corporation (US)
  • Pearl Electric Co. Ltd. (China)
  • Schneider Electric Co. (Europe)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Pad Mounted Transformer Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Pad Mounted Transformer Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Pad Mounted 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 Pad Mounted 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.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Pad Mounted Transformer Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Pad Mounted Transformer Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Pad Mounted Transformer Market was valued at USD 1.43 billion in 2021, and it is expected to reach a value of USD 2.91 billion by 2030, at a CAGR of more than 5.33% over the forecast period (2023–2030).

Global pad mounted transformer market is competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'ABB Ltd. (Switzerland)', 'Crompton Greaves (India)', 'Eaton Corporation PLC. (Ireland)', 'Ermco. (US)', 'Federal Pacific (US)', 'General Electric (US)', 'Hitachi (Japan)', 'Moloney Electric, Inc. (Canada)', 'Olsun Electric Corporation (US)', 'Pearl Electric Co. Ltd. (China)', 'Schneider Electric Co. (Europe)'

Due to their widespread use in various sectors, including industrial, commercial, and residential facilities, pad-mounted transformer demand has been rising. However, the industrial sector is the most beneficial and is still evolving as demand for uninterrupted power rises. The need for a constant and reliable power supply has therefore increased. Additionally, the market will benefit from the growing adoption of innovative and expansive technology.

The trend of oil-filled transformers is believed to support the market growth. Liquids are used to cool oil-filled transformers, which makes them ideal for outdoor applications. They are more reliable overload capabilities, more efficient, and have a longer service life. Liquids are used to cool oil-filled transformers, which makes them ideal for outdoor applications. They are more reliable overload capabilities, more efficient, and have a longer service life.

Asia-Pacific dominates the pad mounted transformer market. Due to increased plans for power generation capacity, soaring demand for replacing/refurbishing outdated distribution transformers, and rising electricity demand, particularly in China and India, as a result of quickly expanding industrial infrastructure development activities, Asia-Pacific is anticipated to be one of the fastest-growing regions. As a result of the country's unprecedently rapid economic growth, China has experienced high rates of electricity demand. Approximately 28% of the world's electricity is produced in this nation, A rise of more than 35% from 2015, when it was 5,550 TWh, was seen in the country's electricity consumption, which in 2020 was 7,510 TWh. In India, utilities and the government are creating new generation projects, particularly those utilizing renewable energy, to meet the rising demand for electricity. Due to the likely need for distribution infrastructure to support these projects, pad-mounted transformer usage is predicted to increase across the country. It is essential to upgrade the power distribution network in order to increase the generation of renewable energy because India's aging electricity infrastructure is rapidly approaching the end of its useful life. Additionally, the nation has been making efforts to update its energy infrastructure. The government declared plans to invest nearly USD 1 trillion in power by 2030 to upgrade infrastructure and provide consumers with electricity around-the-clock in 2016. Consequently, the aforementioned elements are likely to supplement the demand for pad-mounted transformers throughout the Asia-Pacific region during the anticipated period.

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Global Pad Mounted Transformer Market

Product ID: SQSG20E2008

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