![Global Pad Mounted Transformer Market](https://res.cloudinary.com/devmoveo/image/upload/v1706097190/skyquest/report/phpK5e5vC.jpg)
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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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