Report ID: SQSG20E2008
Report ID:
SQSG20E2008 |
Region:
Global |
Published Date: July, 2036
Pages:
260
|Tables:
88
|Figures:
67
Pad Mounted Transformer Market was valued at USD 1.43 billion in 2019, and it is expected to reach a value of USD 2.91 billion by 2031, at a CAGR of more than 5.33% over the forecast period (2024-2031).
An underground utility distribution transformer known as a pad mount transformer is mounted on a small concrete pad and is typically secured inside a locked metal cabinet. These distribution transformers are typically found in housing developments. Like transformers in utility substations, this type of transformer does not require fencing because all of the live contact points are contained within a grounded metal box. It can be installed in residential areas. During the forecast period, factors including plans to expand power generation capacity globally, rising demand for replacing/refurbishing ageing distribution transformers, and rising electricity demand, particularly in China and India, due to rapidly expanding industrial and infrastructure development activities, are predicted to propel the market. Additionally, the market for pad mounted transformers is expanding due to the expansion of renewable energy sources and the ageing of the transmission and distribution (T&D) infrastructure. The market's growth is likely to be hampered by delays in the global implementation of electrification projects.
Improvements in operational management, widespread application of information technology to equipment, and technological advancements in equipment drive the pad-mounted transformers market. The elements that are likely to further operate the market include improved efforts by significant market competitors to combine engineering, focused architecture, and planning's manufacture of extremely proficient equipment. Additionally, rapidly developing industries, quick mergers, and additions by market regulators, to direct the market and persuade the community's need, may aid in the development of the pad-mounted transformer market.
US Pad Mounted Transformer Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global pad mounted transformer market is segmented based on the rated power type, phase, end use, and region. On the basis of rated power type, the Pad Mounted Transformer Market can be segmented into less than 1mVA and more than 1 mVA. On the basis of phase, the Pad Mounted Transformer Market is segmented as a single phase and three phase. Based on the end-use industry type, the pad mounted transformers market is segmented as residential, commercial, and industrial. Based on region Pad Mounted Transformer Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Pad Mounted Transformer Market Analysis by Rated Power Type
On the basis of rated power type, the market can be segmented into less than 1mVA and more than 1 mVA. Less than 1 mVA segment is expected to grow faster. In the commercial and residential sectors, there is anticipated to be increased demand for power outputs under 1 mVA. Low power management systems are heavily used in the commercial sector. Meanwhile, the residential sector's power needs don't necessitate high power-consuming machinery. Such requirements have expanded the use of pad mounted transformers with a 1mVA power rating. However, due to the industrial growth that is occurring in places like Asia and the Middle East, the more than 1mVA segment is also anticipated to experience a healthy growth.
Pad Mounted Transformer Market Analysis by Phase
On the basis of phase, the market is segmented as a single phase and three phase. The segment of three phased pad-mounted transformers held the larger market share. Three-phase pad-mounted transformers have many advantages over single-phase pad-mounted transformers, including high applicability, compatibility, and capacity. Such transformers also offer a higher level of safety and are better suited for underground distribution systems. These qualities guarantee an uninterrupted and secure supply of electricity. Modern accessories that can manage voltage sag and capacity overload are built into three-phase pad mounted transformers.
Pad Mounted Transformer Market Analysis by End Use
Based on the end-use industry type, the pad mounted transformers market is segmented as residential, commercial, and industrial. Due to the market's rapid industrialization, particularly in developing nations, commercial and industrial applications together account for a sizeable portion of these. Pad-mounted transformers are also necessary for expanding commercial construction projects because of their safe design, including mall construction, hotel construction, and recreation centre construction.
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Asia-Pacific dominates the pad mounted transformer market. Due to increased plans for power generation capacity, soaring demand for replacing/refurbishing outdated distribution transformers, and rising electricity demand, particularly in China and India, as a result of quickly expanding industrial infrastructure development activities, Asia-Pacific is anticipated to be one of the fastest-growing regions. As a result of the country's unprecedently rapid economic growth, China has experienced high rates of electricity demand. Approximately 28% of the world's electricity is produced in this nation, A rise of more than 35% from 2015, when it was 5,550 TWh, was seen in the country's electricity consumption, which in 2020 was 7,510 TWh. In India, utilities and the government are creating new generation projects, particularly those utilizing renewable energy, to meet the rising demand for electricity. Due to the likely need for distribution infrastructure to support these projects, pad-mounted transformer usage is predicted to increase across the country. It is essential to upgrade the power distribution network in order to increase the generation of renewable energy because India's aging electricity infrastructure is rapidly approaching the end of its useful life. Additionally, the nation has been making efforts to update its energy infrastructure. The government declared plans to invest nearly USD 1 trillion in power by 2030 to upgrade infrastructure and provide consumers with electricity around-the-clock in 2016. Consequently, the aforementioned elements are likely to supplement the demand for pad-mounted transformers throughout the Asia-Pacific region during the anticipated period.
During the forecast period, the markets in Europe and North America are probably going to grow slowly. Since the economies of Western European nations are still recovering from their recent recession and are unlikely to invest in modernising their power grid networks to create smart grids, the market in Europe is likely to grow slowly. Due to the relatively developed markets in nations like the US and Canada, the market in North America is anticipated to grow slowly.
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Pad Mounted Transformer Market Driver
Pad Mounted Transformer Market Restraint
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Global pad mounted transformer market is competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in the Pad Mounted Transformer Market
Pad Mounted Transformer Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Asia-Pacific dominates the global pad mounted transformer market. Due to severe water shortage that the region's developing economies face, Additionally, during the anticipated period, the region's market for Pad mounted transformers will experience further growth due to the region's growing population. On the other hand, based on the segmentation, the segment of concrete can hold a lot more water than tanks made of other materials and can be built to meet the needs of a single user or a large number of consumers, they dominate the market. On the basis of end use, the municipal segment dominates the market. The segment's growth is also anticipated to be fuelled by rising urbanization and a growing population.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.43 billion |
Market size value in 2031 | USD 2.91 billion |
Growth Rate | more than 5.33% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Pad Mounted Transformer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pad Mounted Transformer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pad Mounted Transformer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pad Mounted Transformer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONPad Mounted Transformer Market was valued at USD 1.43 billion in 2019, and it is expected to reach a value of USD 2.91 billion by 2031, at a CAGR of more than 5.33% over the forecast period (2024-2031).
pad mounted transformer market is competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'ABB Ltd. (Switzerland)', 'Crompton Greaves (India)', 'Eaton Corporation PLC. (Ireland)', 'Ermco. (US)', 'Federal Pacific (US)', 'General Electric (US)', 'Hitachi (Japan)', 'Moloney Electric, Inc. (Canada)', 'Olsun Electric Corporation (US)', 'Pearl Electric Co. Ltd. (China)', 'Schneider Electric Co. (Europe)'
Due to their widespread use in various sectors, including industrial, commercial, and residential facilities, pad-mounted transformer demand has been rising. However, the industrial sector is the most beneficial and is still evolving as demand for uninterrupted power rises. The need for a constant and reliable power supply has therefore increased. Additionally, the market will benefit from the growing adoption of innovative and expansive technology.
The trend of oil-filled transformers is believed to support the market growth. Liquids are used to cool oil-filled transformers, which makes them ideal for outdoor applications. They are more reliable overload capabilities, more efficient, and have a longer service life. Liquids are used to cool oil-filled transformers, which makes them ideal for outdoor applications. They are more reliable overload capabilities, more efficient, and have a longer service life.
Asia-Pacific dominates the pad mounted transformer market. Due to increased plans for power generation capacity, soaring demand for replacing/refurbishing outdated distribution transformers, and rising electricity demand, particularly in China and India, as a result of quickly expanding industrial infrastructure development activities, Asia-Pacific is anticipated to be one of the fastest-growing regions. As a result of the country's unprecedently rapid economic growth, China has experienced high rates of electricity demand. Approximately 28% of the world's electricity is produced in this nation, A rise of more than 35% from 2015, when it was 5,550 TWh, was seen in the country's electricity consumption, which in 2020 was 7,510 TWh. In India, utilities and the government are creating new generation projects, particularly those utilizing renewable energy, to meet the rising demand for electricity. Due to the likely need for distribution infrastructure to support these projects, pad-mounted transformer usage is predicted to increase across the country. It is essential to upgrade the power distribution network in order to increase the generation of renewable energy because India's aging electricity infrastructure is rapidly approaching the end of its useful life. Additionally, the nation has been making efforts to update its energy infrastructure. The government declared plans to invest nearly USD 1 trillion in power by 2030 to upgrade infrastructure and provide consumers with electricity around-the-clock in 2016. Consequently, the aforementioned elements are likely to supplement the demand for pad-mounted transformers throughout the Asia-Pacific region during the anticipated period.
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Report ID: SQSG20E2008