Global Distribution Transformers Market 2019-2023 | Technological Advances in Distribution Transformers to Boost Demand | Technavio

The global distribution transformers market is expected to post a CAGR of 3% during the period 2019-2023, according to the latest market research report by Technavio.

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The global distribution transformers market will post a CAGR of 3% during the period 2019-2023 (Grap ...

The global distribution transformers market will post a CAGR of 3% during the period 2019-2023 (Graphic: Business Wire)

With the power industry undergoing significant changes over the years, there is increasing need for strong infrastructure, which can handle the demands of new power generation sources. This is mainly because the most existing transmission and distribution infrastructure is decades old and incapable of handling emerging requirements for power. This is leading to the upgradation of power transmission and distribution infrastructure, which will bolster the demand for distribution infrastructure. Also, the growing population is also making it imperative for developing countries to invest in power distribution infrastructure that can make power grids more efficient and reliable.

As per Technavio, technological advances in distribution transformers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global distribution transformers market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global distribution transformers market: Technological advances in distribution transformers

Digitization of power network assets has become one of the emerging trends owing to the growing requirement for a high level of flexibility and efficiency for power generation. As distribution transformers are a vital component of a power network, they are also witnessing digitization with the help of advanced sensors, monitoring platforms, and software tools. The digitization of distribution transformers provides end-users with data points that can help in operating transformers to their full capacity and also achieve predictive maintenance for transformers. Further, the digitization of distribution transformers enables optimized grid operation, quicker action, and predictive maintenance. This helps stakeholders to stay updated on the health of a transformer, thereby, maintaining standardization and reducing unplanned outages.

“The global population is increasing at a rapid pace, which is triggering the demand for power. The demand for power has spiked in industrial and commercial sectors mainly because of the rapid industrial growth in emerging economies such as India, China, Malaysia, Vietnam, Brazil, Indonesia, Nigeria, Argentina, and Ethiopia. This is leading to the need for distribution transformers that will help end-users handle their power infrastructure,” says a senior research analyst at Technavio.

Global distribution transformers market: Segmentation analysis

This market research report segments the global distribution transformers market by end-user (power utilities, and industrial and commercial) and geographic regions (APAC, North America, Europe, MEA, and South America).

The power utility segment held the largest distribution transformers market share in 2018. The power utility segment comprises of distribution transformers that are used by power utilities to supply electricity to residential, commercial, and industrial end-users. The growth of this segment can be attributed to the growing global demand for power and the need for efficient power infrastructure.

The APAC region led the market in 2018, followed by North America, Europe, MEA and South America respectively. The market in APAC is driven by the growing need for power owing to a rapidly growing population, which has led to the proliferation of power generation and transmission and distribution projects.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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