Distribution Transformer Market Size, Share, Growth Analysis, By Type(Oil, Water), By Mounting(Pole, pad), By Region - Industry Forecast 2024-2031

Distribution Transformer Market size was valued at USD 24.5 billion in 2022 and is poised to grow from USD 26.53 billion in 2023 to USD 52 billion by 2031, growing at a CAGR of 8.3% in the forecast period (2024-2031).

Major players in the distribution transformer market are expanding their footprint through a variety of strategic alliances and mergers with suppliers of raw materials or services. To increase safety and reliability and provide themselves a competitive edge over rivals, prominent players are also engaged in R&D operations to integrate smart technologies with distribution transformers. For instance, In September 2021, Egypt signed a USD 254 million financing deal to expand the power distribution network. This financing deal was signed between the Egyptian Electricity Transmission Company (EETC) with several Egyptian banks that would allow it to add to and expand the country's transformer stations. This distribution network expansion project is likely to include the installation of distribution transformers, which will boost the distribution transformer market’s growth. 'ABB Ltd. ', 'Siemens AG', 'Mitsubishi Electric Corporation ', 'General Electric Company', 'Eaton Corporation plc', 'Schneider Electric SE', 'Crompton Greaves Limited', 'Hitachi, Ltd.', 'Hyosung Corporation', 'Toshiba Corporation', 'Bharat Heavy Electricals Limited', 'Fuji Electric Co., Ltd.', 'SGB-SMIT Group', 'SPX Transformer Solutions, Inc.', 'Virginia Transformer Corp.', 'Wilson Transformer Company Pty Ltd.', 'CG Power and Industrial Solutions Limited', 'Hammond Power Solutions Inc.', 'Brush Electrical Machines Ltd.', 'Starkstrom-Gerätebau GmbH.'

High tension electrical networks are now necessary due to the rising energy demand among many remote load centers, which has also prompted the outside installation of distribution transformer systems. The benefits of outdoor installations, including quick setup and simple fault finding, have influenced consumer demand for products in recent years. The further retrofitting of grid systems in the suburbs and initiatives to enhance cross-border networks will also encourage product adoption.

The market for transformers is evolving toward the development of autonomous, self-contained smart transformers. Smart transformers have been programmed to continuously control voltage, stay in touch with all parties involved, and provide data and feedback on the power supply. Through a procedure known as voltage optimization, they deliver the precise amount of electricity required and react to fluctuations. They provide electrical equipment with the right quantity of power, which greatly lowers greenhouse gas emissions and energy use. The National Research Foundation of Singapore and the Energy Research Institute will work together to accelerate breakthroughs in Solid State Transformer (SST) technology. The project is a component of Singapore's Energy Grid 2.0 effort, which combines various energy sources into a single intelligent network that is more effective, sustainable, and robust to shape the next-generation grid system and transform energy management.

Asia-Pacific leads the world in distribution transformer demand, followed by North America, Europe, the Middle East and Africa, and Latin America. The market for distribution transformers is being significantly stimulated by an increase in manufacturing activity and electrification programs in Asian nations like India, Bangladesh, and Vietnam. Demand for distribution transformers has increased due to the rapid rise in industrial and manufacturing facilities. The use of distribution transformers is necessary because of the growth of railways, metros, bullet trains, IT hubs, commercial centers, etc.