Distribution Transformer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Distribution Transformer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global distribution transformer market size reached US$ 19.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.93% during 2023-2028.

A distribution transformer, also known as an isolation transformer, is used to alter the high voltage in electric power distribution. It comprises an oil tank, conservator, Buchholz relay, breather unit, oil indicator, temperature detector, pressure relief device, thermal relay, radiator, and bushing. It assists in distributing the power to remote areas, which is generated from the power plants. It also helps reduce the voltage to provide isolation between the two windings as primary and secondary. At present, distribution transformer is commonly available in different sizes and efficiencies.

Distribution Transformer Market Trends:

The increasing electricity consumption and power generation around the world represent one of the major factors positively influencing the demand for distribution transformers. In addition, expanding global population and rising investments in the development of smart cities by governing agencies of numerous countries are driving the application of distribution transformers in commercial, residential, and industrial complexes. In addition, due to the growing environmental concerns and energy security, governing agencies are imposing stringent policies to reduce carbon emissions and encourage the adoption of renewable energy and distribution transformers. The market growth can also be attributed to initiatives undertaken for facilitating the supply of electricity in rural areas. Apart from this, rising sales of electric vehicles (EVs) on account of rapid urbanization and improving income levels are creating a positive outlook for the market. Along with this, the launch of EV charging stations worldwide is offering lucrative growth opportunities to key players operating in the industry. Furthermore, key players are extensively investing in research and development (R&D) activities of transformer production and focusing on upgrading the existing infrastructure to minimize power failures, which is anticipated to provide a favorable market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global distribution transformer market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on insulation type, mounting, phase and power rating.

Breakup by Insulation Type:

Dry
Liquid Immersed

Breakup by Mounting:

Pad
Pole
Underground vault

Breakup by Phase:

Single
Three

Breakup by Power Rating:

Up to 500 kVA
501 kVA–2500 kVA
Above 2500 kVA

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being CG Power and Industrial Solutions Limited (Murugappa Group), Eaton Corporation PLC, EMCO Limited, General Electric, Hammond Power Solutions Inc., Hitachi Energy Ltd, Ormazabal (Velatia S.L.), Schneider Electric, SGB-Smit Group, Siemens AG, Toshiba Energy Systems & Solutions Corporation (Toshiba Corporation), Wilson Power Solutions and Wilson Transformer Company.

Key Questions Answered in This Report:

How has the global distribution transformer market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global distribution transformer market?
What are the key regional markets?
What is the breakup of the market based on the insulation type?
What is the breakup of the market based on the mounting?
What is the breakup of the market based on the phase?
What is the breakup of the market based on the power rating?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global distribution transformer market and who are the key players?
What is the degree of competition in the industry?