Pad Mounted Transformer Market Size By Cooling (Dry Type, Oil Immersed), By Rating (≤ 1 MVA, > 1 MVA - ≤ 10 MVA, > 10 MVA), By Phase (Single, Three), By Application (Residential, Commercial, Industrial), & Forecast 2023 - 2032

Pad Mounted Transformer Market Size By Cooling (Dry Type, Oil Immersed), By Rating (≤ 1 MVA, > 1 MVA - ≤ 10 MVA, > 10 MVA), By Phase (Single, Three), By Application (Residential, Commercial, Industrial), & Forecast 2023 - 2032

Global Pad Mounted Transformer Market is set to witness considerable growth between 2023 to 2032 owing to the mounting concerns regarding emission reduction, that is leading to increasing implementation of renewable energy infrastructure in emerging nations.

The improvement of existing grid systems to make them more resilient and practical by incorporating novel components, technology, and control equipment will boost the industry outlook. The deployment of large-scale projects has also been impacted by the emergence of a grid powered by renewable energy sources and the rising trend toward the installation of utility-scale projects.

Leading companies in the market are seeking partnership and acquisition opportunities to gain a competitive edge over rival players. For instance, in October 2021, Prolec GE, announced collaboration with Cooperative Energy, a power plant and distribution company, to deploy a 100 MVA flexible transformer at a substation in Colombia, Mississippi. The transformer is currently being field tested, and a detailed analysis of the transformer will highlight its technological limitations and potential for improved grid management.

The pad mounted transformer market has been divided in terms of cooling, rating, phase, application, and region.

Based on rating, the > 10 MVA segment is set to witness significant growth over the review period. A significant portion of industry revenue is anticipated to be generated by >10 MVA pad mounted transformers due to the recent growth of the industrial and commercial sectors. Manufacturing products along with the expanding demand for flexible product operations throughout primary and secondary distribution systems will further promote industry expansion.

With respect to application, the commercial segment is slated to achieve sizable market expansion through the forecast period. Pad-mounted transformers will be in high demand across the commercial sector owing to the rising use of medium and low-voltage-rated networks in these facilities.

From the regional outlook, the Middle East & Africa pad mounted transformer market held more than USD 2 billion market share in 2022. The inadequacy of grid infrastructure and increasing consumer concerns about the dependability and safety of electricity has pushed the product adoption in the area. Moreover, ongoing governmental measures to limit the greenhouse gas emission are set to foster the industrial expansion. The private spending in R&D operations to increase material density, durability, and strength will have a favorable impact on the regional market demand.