Distribution Transformer Market to Exhibit Astonishing Growth Stoked by Rising Number of Unique Product Launches, says Fortune Business Insights™
Pune, India, Feb. 28, 2023 (GLOBE NEWSWIRE) —
The global distribution transformer market is set to gain momentum from the rising demand for persistent and stable supply of electricity across the world. Several emerging economies are nowadays aiming to focus on upgrading the old power infrastructure. Therefore, the demand for IoT compatible distribution transformer would upsurge owing to the development of smart grids. Fortune Business Insights™, in an upcoming report, titled, “Distribution Transformer Market Size, Share & Industry Analysis, By Mounting Location (Pole, Pad, Underground Vault), By Phase (Single-phase, Three-phase), By Insulation (Dry, Oil Immersed), By Voltage (Low Voltage, Medium Voltage, High Voltage), By End-User (Residential, Commercial, Industrial, Utility) and Regional Forecast, 2019-2026,” published this information.
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Distribution Transformer Market Global Highlights:
- Elaborate information about the distribution transformer market trends, growth drivers, barriers, opportunities, and other related challenges.
- List of all the segments present in the market.
- Competitive landscape consisting of new product launches, strategic partnerships, mergers and acquisitions, agreements, contracts, and investments.
Drivers & Restraints:
Rising Government Initiatives to Reduce Environmental Issues Will Fuel Growth
In the olden days, a polychlorinated biphenyl (PCB) liquid was used in the distribution transformers indoors. However, they were banned as the liquid posed a major threat to the animals and the environment. Later, silicones and vegetable oils were used and replaced the PCB liquid as they are biodegradable.
Furthermore, the governments of numerous countries are implementing stringent rules and regulations to reduce pollution. The ‘Green Corridor Project’, for instance, was put forward by the Indian government in 2013. It was meant to enable the flow of renewable energy sources into the National Grid Network. The first phase of the program is designed to support 33 GW of wind and solar power. These factors are set to augment the distribution transformer market growth during the forecast period.
Entering a post-COVID economy: how the power and energy industry will play an essential role in its recovery.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
Click here to get the short-term and long-term impact of COVID-19 on this market. Please visit: https://www.fortunebusinessinsights.com/industry-reports/distribution-transformer-market-101633
Increasing Number of Manufacturing & Industrial Units to Favor Growth in Asia Pacific
In terms of region, the market is grouped into Asia Pacific, the Middle East and Africa, North America, Latin America, and Europe. Out of these, Asia Pacific is anticipated to generate the highest distribution transformer market revenue in the coming years owing to the rising electrification initiatives and manufacturing activities in countries, such as Vietnam, Bangladesh, and India. Besides, the number of industrial and manufacturing units is surging, and it is resulting in the high demand for distribution transformer. Also, the increasing number of commercial centers, IT hubs, bullet trains, metros, and railways would also skyrocket the demand for reliable and constant supply of electricity.
Europe and North America, on the other hand, are likely to showcase significant growth backed by modernization and automation of electrical infrastructure in both regions. Africa is expected to have high growth potential in the forthcoming years because of the integration of renewable energy resources in the electrical grid in the developing and developed countries. Hence, companies in this region are investing huge sums in the electric power system. Overall, the market would experience considerable growth globally because of rapid urbanization, improvements in transmission infrastructure, and increasing number of power generation plants.
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Segmentation of Report:
|By Mounting Location||Pole
|By Voltage||Low Voltage
|By Geography||North America (USA and Canada)
Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
Latin America (Brazil, Mexico, and Rest of Latin America)
Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
Key Industry Development:
September 2019: Huawei Technologies Co., Ltd., a provider of telecommunications equipment based in China, unveiled a series of AI-based and 5G innovative energy solutions at the 24th World Energy Congress in Abu Dhabi. The company partnered up with over 500 energy CEOs, 70 energy ministers, and several other partners to broaden the vision of sustainable energy development.
September 2019: ERMCO, Inc., a producer of oil filled distribution transformers and transformer components headquartered in Tennessee, invested around USD 12 million for the expansion of its manufacturing operations at Dyersburg. As per the company officials, Tennessee is the perfect location for this expansion as the state houses an innovative manufacturing industry.
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Fortune Business Insights™ profiles some of the most renowned companies present in the distribution transformer market. They are as follows:
- Trench Group
- Mehru Electrical & Mechanical Engineers (P) Ltd.
- EMEK Electrical Industry Inc.
- CG Power and Industrial Solutions Limited
- Schneider Electric
- PFIFFNER Distribution Transformers Ltd.
- Amran Inc.
- Mitsubishi Electric Corporation
- Indian Transformers Company Ltd.
- Distribution Transformer Equipment Corporation
Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers 2030
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porter Five Forces Analysis 2030
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Distribution Transformer Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Competitive Analysis
- Company Market Share Analysis, 2030
- Company Profile
- Business Overview
- Product & Service Offering
- Overall Revenue
- Geographic Presence
- Recent Development
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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