Distribution Transformer Market annual installation will surpass 80 thousand units by 2024
SELLBYVILLE, Del., Feb. 22, 2018 /PRNewswire-iReach/ -- Global Distribution Transformer Market is projected to cross USD 30 billion by 2024, as reported in the latest study by Global Market Insights, Inc. Rapid residential expansion coupled with favourable inclination towards the integration of a sustainable electrical network will drive the distribution transformer market size. The industry is set to witness a comprehensive turnaround subject to volant expansion of distribution networks across the emerging markets. In addition, rising investments from financial institutions to sustain the demand and supply parity across the globe will further stimulate the product demand.
Germany distribution transformer market is projected to exceed 3,500 annual installation by 2024. Favourable regulatory reforms toward the institution of a robust, and reliable electricity infrastructure will foster the business growth. Rapid expansion of micro grid networks along with rising energy demand from residential and commercial establishments will positively influence the industry landscape.
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Advancing smart transformer technologies coupled with stringent energy efficiency compliances will comprehensively augment the global distribution transformer market. Volume manufacturing practices adopted by the leading manufacturers along with growing consumer awareness toward environmental security will encourage the product adoption. Escalating demand for the refurbishment of existing grid infrastructure across developed economies will further complement the industry outlook.
2.6 MVA to 10 MVA distribution transformer market on account of rapid urbanization across developing regions in the recent years has witnessed a significant turnaround. Briskly expanding utility aided grid networks to cater the rising rural electrification demand will considerably proliferate the industry growth. Renewable capacity addition across residential and commercial establishments to integrate a sustainable energy mix will further enhance the product penetration.
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Propositions in line with energy efficiency along with expeditious expansion of smart grid networks has structured a favourable industrial scenario. Rapid technological advancements along with favourable inclination towards the integration of smart monitoring technologies will fuel the distribution transformer market growth. The European nations in 2017, have approved over USD 133.7 billion investment towards the deployment of smart grid infrastructure across the region.
The U.S. distribution transformer market is anticipated to witness growth in line with the appreciable rise in investments toward the upgradation of existing infrastructure across the nation. Rapid infrastructural expansion in compliance to peninsula corridor electrification program will further embellish the industry outlook. In 2017, the U.S. regulators provisioned USD 100 million to sustain the increasing electricity demand across its rail networks.
Middle East & Africa distribution transformer market is set to witness comprehensive growth subject to the ongoing adoption of distributed generation units along with the rapid expansion of off-grid electricity networks. Indulgence of major financial institutions including the Asian Development Bank, World Bank and the African Development Bank to cater the lagging power sector across the region will substantially boost the product demand. In 2017, ADB provisioned over USD 12 billion to across the African electricity sector. The investment aims at sustaining the rising electricity demand across the region consequently with establishing an effective grid infrastructure.
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Eminent participants in the distribution transformer market include Toshiba Corp., GE, Kirloskar, ABB, Schneider Electric, SPX Transformer, EATON, Ormazabal, Siemens, Crompton Greaves, Ruhstrat, Mitsubishi Electric, Hyosung, Daihen, Hyundai Electric, Celme, and BHEL.
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Transformer Market share for 2016 was valued over USD 40 billion and the annual installation is set to exceed 170 thousand units by 2024. Rapid urbanization coupled with rising expenditure across the infrastructure sector have fuelled the expansion of existing grid networks in the recent years.
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Instrument Transformer Market Size 2017 - 2024
Instrument Transformer Market trends for 2016 was valued over USD 3 billion and the annual installation is set to exceed 50 thousand units by 2024. Rising electricity demand coupled with growing concerns pertaining to grid stability in the recent years will augment the instrument transformer market.
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