In recent years, modular construction in the construction industry has gained popularity. Do you know why? The answer is an ever-evolving economic condition. business operations…
A transformer that delivers the final voltage transformation in the electric power distribution system is known as distribution transformers or service transformers. It terminates the use of voltage in the distribution lines to the level being used by consumers. Distribution transformers aimed to work most efficiency at lower loads and do not work at full load. Further, to increase its efficiency voltage regulation in transformers is kept a minimum. Distribution transformers are usually smaller than 500 KVA. Besides, distribution transformers less than 33 kV with voltage distribution are used in industries whereas, 380V/220V distribution transformers are used for domestic purposes.
Distribution Transformers Market: Drivers and Restraints
Increasing demand for automated & electrical vehicles and fast energy evolution from conventional to renewable are major factors driving the growth of the distribution transformer market. Further, transformation in battery storage and increasing demand for power owing to urbanization, industrialization, and growing technological applications are also supporting the growth of the market. Addition to this, developments in power infrastructure in developing countries, smart grid advantages for economic efficiency, upsurge in renewable energy results in growing competitiveness of solar and wind power are again some of the boosting factors for the growth of the market. several organizations such as IEEE are taking initiatives for the smart grid to support the growth of the market. Several organizations are taking initiatives for using the digital revolution in the distribution transformer market. This is fueling the growth of the market. On the other side standardization of equipment in the market is likely to restrain the growth of the market. Moreover, the smart grid is the most current development in the electricity market and is anticipated to generate a growth opportunity in the market during the forecast period.
Distribution Transformers Market: Regional Analysis
As per the geographies, North America dominated the growth of the distribution transformer market. The U.S holds the highest market share in the market which dominates the growth of the North America region. In North America region factors such as large per capita electricity consumption, increasing electricity demand and revolutionize the old electric grid system are driving the growth of the region. Further, consumption of renewable energy and initiatives taken by the country for smart grid task to deal with increasing demand for electricity are also boosting the growth of the North America region. The Asia Pacific is estimated to be the fastest growing region in this market. Factors such as rising spending on power developing industrial, high levels of infrastructural expansions, industrialization and increasing demand for modernizing distribution transformers are some of the major factors driving the growth of the Asia Pacific region for the distribution transformer market.
Distribution Transformers Market: Competitive Landscape
The report provides profiles of the companies in the market such as Bowers Electricals Ltd, Wilson Power Solutions Ltd, SPX Transformer Solutions Inc., Emerson Electric Co., GENERAL ELECTRIC, Hitachi, Ltd., Eaton Corporation Inc., Kirloskar Electric Company, ABB Ltd., Wenzhou Rockwell Transformer Co, Ltd., and Other Companies.
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