Dry Distribution Transformer Market to Grow with a CAGR of 4.70% through 2028
Increasing demand for electricity and expanding smart
grid infrastructure are likely to drive the market in the forecast period.
According to TechSci Research report, “Dry
Distribution Transformer Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Dry
Distribution Transformer Market stood at USD 12.10 billion in 2022 and is
anticipated to grow with a CAGR of 4.70% in the forecast period. One of the
primary drivers propelling the global dry Distribution Transformer market is
the increasing emphasis on energy efficiency and sustainability in the
electrical power sector. As the world grapples with the challenges of climate
change and seeks to reduce greenhouse gas emissions, energy efficiency has
become a top priority. Dry Distribution Transformers are known for their energy
efficiency, as they are designed to minimize energy losses during electricity
distribution. Unlike traditional oil-filled transformers, which rely on oil as
a cooling and insulation medium, dry transformers use solid or gaseous
insulation materials that conduct heat more efficiently. This results in lower
energy losses, reducing electricity waste and the associated environmental
impact. Governments and utilities worldwide are implementing energy efficiency
regulations and standards that mandate the use of high-efficiency transformers,
including dry transformers. These regulations are often aligned with
international standards such as those set by the International Electrotechnical
Commission (IEC). The drive toward energy-efficient transformers is not only
driven by environmental concerns but also by the desire to reduce operational
costs for utilities and end-users. As industries, businesses, and utilities aim
to minimize their carbon footprint and optimize energy consumption, the demand
for energy-efficient dry Distribution Transformers continues to grow. This
driver is pushing manufacturers to innovate and develop even more efficient
transformer designs to meet the evolving needs of a sustainable energy
landscape. The global trend
toward electrification and the expansion of electrical grids is a significant
driver for the dry Distribution Transformer market. Electrification initiatives
seek to extend access to electricity in both urban and rural areas, driving the
demand for distribution transformers to connect new consumers to the grid. In
urban areas, population growth and urbanization are accompanied by a rising
need for electricity to power homes, businesses, and industries. This
necessitates the installation of additional distribution transformers to
accommodate the increased load. Dry transformers are well-suited for urban
environments due to their compact design and safety features, making them a
preferred choice in densely populated areas. In rural and remote regions,
electrification efforts aim to bring electricity to underserved communities.
Dry Distribution Transformers are valuable in these contexts because they can
be installed in various locations, including areas where the installation of
oil-filled transformers would be impractical. Their versatility and ability to
function reliably in different environments contribute to their role in rural
electrification. Furthermore, grid expansion and modernization efforts, which
include the integration of renewable energy sources and the development of
smart grids, require distribution transformers that can adapt to evolving grid
requirements. Dry transformers, with their compatibility with modern grid
technologies and renewable energy integration, are in high demand as utilities
upgrade their infrastructure.
In summary, the
increasing focus on electrification, grid expansion, and the need for
efficient, adaptable transformers in urban and rural settings are driving the
growth of the global dry Distribution Transformer market. These transformers
play a pivotal role in extending electricity access and ensuring the
reliability of distribution networks in an evolving energy landscape.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Dry Distribution Transformer Market.”
The Global Dry Distribution Transformer Market is
segmented into rating, mounting, application and region. Based on mounting, The
Two-Winding Transformer segment held the largest market share in 2022. In many parts of the world, urban and
suburban areas constitute a significant portion of electricity consumption.
These densely populated areas have limited space for infrastructure, and
aesthetics and safety are paramount. Pad-mounted transformers are often
preferred in these environments due to their unobtrusive design and reduced
risk of accidents. Their low-profile installation allows them to blend into the
urban landscape without obstructing sidewalks or roads. Pad-mounted transformers are installed at
ground level within enclosures, making them easily accessible for maintenance
and servicing. This accessibility is crucial for utility companies to ensure
quick response to issues, routine inspections, and repairs. It also minimizes
safety risks associated with climbing utility poles to access pole-mounted
transformers. Pad-mounted transformers are designed to be environmentally
friendly. They use dry insulation systems that eliminate the risk of oil leaks
or spills, reducing the potential for soil and groundwater contamination. This
aligns with global environmental regulations and sustainability goals, making
them an attractive choice for environmentally conscious regions. In urban and
suburban areas where noise pollution is a concern, pad-mounted transformers
offer an advantage. They are known for their quieter operation compared to some
pole-mounted transformers, making them better suited for residential neighborhoods.
Many urban areas utilize underground distribution systems to enhance
reliability and aesthetics.
Based on application, The Utility segment held the
largest market share in 2022. Utility companies, also known as electric
utilities or power companies, serve as the backbone of electrical
infrastructure. They are responsible for generating, transmitting, and
distributing electricity to meet the needs of residential, commercial, and
industrial consumers. The sheer scale of their operations and extensive service
areas requires a significant number of distribution transformers. Utilities
require a large and consistent supply of distribution transformers to maintain
and expand their distribution networks. These transformers are essential for
stepping down high-voltage electricity from transmission lines to lower
voltages suitable for local distribution. Utility companies operate vast
networks, covering urban, suburban, and rural areas, necessitating a
significant number of transformers. Ensuring the reliability of electricity
supply is a top priority for utility companies. Dry Distribution Transformers
are known for their reliability and durability. Their robust design and
performance characteristics make them well-suited for the task of delivering
electricity consistently to end-users. Utilities often procure distribution
transformers in bulk or through long-term contracts. This volume of procurement
has a significant impact on the market size and encourages manufacturers to
focus on meeting the specific needs and requirements of utility customers. As
populations grow, urban areas expand, and industries develop, utility companies
need to continually expand and modernize their grid infrastructure to meet
increasing electricity demand. This includes the installation of new
distribution transformers and the replacement of older ones, contributing to
ongoing demand. Utility companies must adhere to strict regulatory standards
and quality requirements to ensure the safety and reliability of their
distribution networks.
Major companies operating in the Global Dry
Distribution Transformer Market are:
- ABB Ltd
- Siemens
AG
- Schneider
Electric SE
- Eaton
Corporation PLC
- General
Electric Company
- Toshiba
Corporation
- Hitachi,
Ltd.
- Hyundai
Heavy Industries Co., Ltd.
- Mitsubishi
Electric Corporation
- TBEA Co.,
Ltd.
Download Free Sample Report
Customers can also request for 10%
free customization on this report.
“The Global Dry Distribution Transformer market is
expected to rise in the upcoming years and register a significant CAGR during
the forecast period. The global dry
Distribution Transformer market is primarily propelled by the imperative for
energy efficiency and the ongoing modernization of electrical grids. With
heightened emphasis on reducing energy losses and enhancing grid reliability,
dry transformers have gained prominence. Their design minimizes energy wastage
during electricity distribution, aligning with sustainability goals. Furthermore,
these transformers are integral components of grid modernization efforts,
featuring smart capabilities for real-time monitoring and efficient load
management. As businesses and utilities prioritize cost-effective, eco-friendly
solutions, the demand for energy-efficient dry transformers continues to surge,
making them a pivotal driver in the market's growth and evolution. Therefore,
the market of Dry Distribution Transformer is expected to boost in the upcoming
years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Dry Distribution Transformer Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Rating (≤ 250 KVA, 250 KVA To ≤ 1
MVA, 1 MVA), By Mounting (Pad-Mounted, Pole-Mounted), By Application
(Residential, Commercial, Industrial, Utility), By Region, By Competition”, has evaluated
the future growth potential of Global Dry Distribution Transformer Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers make sound investment decisions., The report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Dry Distribution Transformer
Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel:
+13322586602
Email:
[email protected]
Website:
www.techsciresearch.com