Europe Power & Distribution Transformer Market is gaining traction due to rapid industrialization & increased domestic power demand
Growing
transmission network research and rising investments in renewable energy
sources are the major factors propelling the market growth in the forecast period.
According to TechSci Research report, Europe Power & Distribution
Transformer Market - By Country, Competition, Forecast and Opportunities, 2018-2028,
the Europe Power & Distribution Transformer
Market is
expected to register robust growth during the forecast period, 2024-2028. The
market for power transformers is expanding in Europe because of hasty
industrialization and increased domestic power demand. Power demand is
continually rising in Europe, which has led to an increase in the use of energy
resources. The transportation of low voltage producing electricity through
distribution channels inside the power grid network requires the installation
of a specific kind of transformer called a power transformer. It is a crucial
part of the electrical grid and aids in the frequency-invariant transfer of
electricity between networks. Although producing power at low voltage is more
cost-effective, doing so results in high line currents. But increasing the
voltage of the incoming electricity makes efficient power transmission
possible. The usage of a power transformer is therefore often required to increase
the voltage. These transformers are designed to function at maximum load and
with the highest level of efficiency. Years of transmission network study have
led to higher transmission voltages.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on the “Europe Power & Distribution Transformer Market"
The Europe Power &
Distribution Transformer Market is segmented based on type, rating, end user, phase,
and insulation.
Based on type,
the market is segmented into power transformer and distribution transformer. Based
on rating, the market is segmented into upto 100 kVA, 100.1-500kVA,
500.1-1000kVA, 1000.1-5000kVA, 5.1-100MVA, 100.1-500MVA, and above 500MVA.
By end
user, into residential, commercial, industrial, and utility. Based on insulation, the market is
divided into oil immersed & dry. Based
on phase, the market is divided into single phase and three phase.
Based on End User, the market is segmented into residential, commercial,
industrial, and utility. Power transformers are most often used in industrial
environments. Additionally, Europe has significant industries including iron and
steel, cotton textile, shipbuilding, and automobile industries. The industrial
sector is expanding, which involves activities like the construction and
operation of power plants, as a result, it is predicted that the use of power
transformers would increase in the future. Hence, the market is anticipated to
grow in the forecast period.
An increase in the use of single-phase transformers for
electricity distribution and a rise in electricity consumption in Europe are
the main factors fueling the growth of the power transformer industry. The need
for single-phase power transformers will increase due to the government's
emphasis on promoting rural development and expanding the electrical
transmission network. Due to its safety advantages over liquid-filled
transformers, single phase transformers are commonly employed in voltage demand
applications in the mining, maritime, and oil & gas industries. This would
be helpful given how quickly the power transformer industry is expanding.
Based on Country, the market is divided into Germany, France, United
Kingdom, Italy, Spain, and rest of Europe. Germany is perhaps the transformer
market in Europe that is expanding the fastest, as a result of the country's
rising commercial and industrial operations as well as the steady rise in
energy demand.
A significant quantity of renewable energy capacity is
being installed around the nation, which necessitates the use of numerous power
and distribution transformers to move electricity from the generator site to
the customers. Germany installed 125.38 GW of renewable energy in total in
2019, which was more than its 119.29 GW installed capacity from the previous
year.
Major market players in the Europe Power &
Distribution Transformer Market are: -
- ABB Ltd
- Crompton Greaves Ltd
- Hitachi Ltd
- Mitsubishi Electric Corporation
- General Electric Corporation
- Siemens AG
- Schneider Electric SE
- TBEA Co., Ltd
- Toshiba Corporation
- Emerson Electric Co.
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"Growing energy demand
in European countries are the main factor driving the market growth in the
future. Several industrialized nations are currently focusing on modernizing
their ageing electrical infrastructure. The growth of smart grids, which will
increase demand for IoT compatible distribution transformers, is one of the
main drivers of the market. Power transformer demand is rising because of
government measures in European nations to enhance energy production,
distribution, and transmission capacity. Because of favorable government
electrification initiatives, the market for transformers would grow during the
anticipated timeframe.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based Europe management consulting firm.
Europe Power & Distribution Transformer Market -Segmented By Type
(Power Transformer, and Distribution Transformer), By Rating (upto 100 kVA,
100.1-500kVA, 500.1-1000kVA, 1000.1-5000kVA, 5.1-100MVA, 100.1-500MVA, and
Above 500MVA), By End User (Residential, Commercial, Industrial, and Utility),
By Phase (Single Phase, and Three Phase), By Insulation (Oil Immersed, and
Dry), By Country, Competition, Forecast and Opportunities, 2028 has evaluated the future growth potential
of Europe Power & 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 take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities Europe Power &
Distribution Transformer Market.
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