ID: MRFR/E&P/4516-HCR | 100 Pages | Author: Anshula Mandaokar | June 2023
Global Pad-mounted transformer Market to grow at 5.2% CAGR from 2022 to 2030, with valuation of up to $ 2,474 Million from an estimated $1.38 Billion in 2019. The growth in the market is supported by significant investments planned for the upgradation and expansion of power transmission & distribution networks across the globe. Developing countries are expanding their power grid networks to meet the growing demand for electricity from industries and connecting the rural sector to the power grid for domestic use. Due to industrialization, large industries are coming up in developing countries like China and India and are expected to create a good demand for pad-mounted transformers.
The market is home to industrial end-users who are expected to grow at the highest rate in the end-user segment. The key driving factor for the market during the period will be favorable government policies for the growth of industries in various countries such as Mexico, China, Brazil, and India. In addition, the U.S., as a part of the North American market has come up with new norms for the efficiency of distribution transformers which will be implemented from 1st January 2016. The rise of more efficient pad-mounted transformers will reduce electricity wastage and increase savings in power and capital. This new policy reform is expected to drive the pad-mounted transformer market in the U.S.
The pandemic has hit the electronic industries so intensely. The Pad-mounted transformer Market was gaining momentum in the global market. However, after the first lockdown wave, there was an unevenness in the market that led to a severe downfall. The COVID 19 global pandemic outbreak has also negatively influenced the global inflows overall.
Covid 19 has short long-term impacts that lead to the crisis in the industry chain, especially on the market channels. The volume value and the market prices have dipped during the pandemic. The primary restraint was that the regular maintenance of the device had been hampered, which also made it severe at a global level and impacted the Transfer suit for distributors and manufacturers. However, several small-scale industries have landed during this time and have given a boost to the demands, and now it is developing more amongst the local regions.
The demand for Pad-mounted transformers has been increasing due to ample usage in the different sectors that are industrial, commercial, and residential facilities. However, the most useful is in the industrial sector and is still developing with the increase in the demand for uninterrupted power. As a result, there has been a growing demand for continuous and steady power supply. Also, the increasing adoption of promising and expansive technology will help the market.
Maintenance is one of the biggest challenges the market faces while aiming for growth amid the continuous period that ends in 2027. The Pad-mounted transformer is required for the end-user and the continuous power supply. The generator needs to be purchased along with the Pad-mounted transformer. The Pad-mounted transformer may cost less when purchased with the generator. Also, now with the upgraded availability of technology and technique, it is preferred that the ATS should stay connected until utility power drops out.
The industries that are trusted for the power solutions have given the best products, and for that matter, the Pad-mounted transformer Market and the ATS have given the maximum benefits to the stalk holders.
The pad-mounted transformer market report has classified the market into different segments based on type, ampere, transition mode, and application. The below segments have made the study and the market analysis more understandable in terms of growth and viable opportunities for the market. However, the market forecast will always depend more upon the region's topography.
This report provides an overview of qualitative and quantitative information for the market and usage in the industries. At a international level, the global market size and the forecast estimates have been changed since 2019 till now. The significant regions to develop and provide market higher values of shares are North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (EMEA), and South America. Each region's global Pad-mounted transformer market is later sub-segmented by respective countries and segments. The Asia Pacific is the largest pad-mounted transformer market by size and is estimated to grow at the highest rate due to China's high demand for power products. China's high economic growth rate has created a good demand for power distribution products such as pad-mounted transformers. Along with that, new policy reforms in India to support the growth of industries have made India a very lucrative market for OEM manufacturers. Therefore, it is also likely to create a massive demand for pad-mounted transformers.
The abundant claims in different end-use sectors have increased the demand for Pad-mounted transformers. However, the global Pad-mounted transformer market's growth depends on the rise of power utilities and generator backup power supplies.
The organic and inorganic growth strategies have been launched in the Pad-mounted transformer market, which has been seen so fiercely in this forecast. The organic strategies to grow the Pad-mounted transformer market are new product launches, product approvals, and others, such as patents and organizing events to make the product expansion in the market. On the other hand, the inorganic growth strategic activities are witnessed in the market through acquisitions, partnerships, & collaborations. The strategies like this paved the way for the Pad-mounted transformer market to expand business. The end-users are also paying more interest, giving the market players significant competition.
Companies engaged in providing the latest technology with the best quality of products will rise with their appreciable performance and constant growth. Below are the key players in the complete competitive landscape of the Pad-mounted transformer worldwide market:
The Global Pad-mounted Transformer Market Analysis study and research focus on the global market trend analysis. The report aims to provide an optimum overview of Pad-mounted transformers with detailed market segmentation by type, transition mode, ampere rating, and application. It also analyzed the factors affecting the Pad-mounted transformer market from both ends, be it demand or the supply side, and further evaluated the market dynamics during the forecast period i.edrivers, restraints, opportunities, and recent developments.
More or less, the trends suggest that each sector requires the facility, and the emerging scenarios will upgrade the market. All the globally functional regions that have developed the technology will be the masters and will chase to rise in the market. Some companies will change the market stocks when the supply chain increases across the global market. The countries are evolving in this market, but the power distribution infrastructure is still a challenge, and the developed countries are manifesting in the market with their technologies.
|Market Size||2030: 2,474 Million|
|CAGR||5.2% CAGR (2022-2030)|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Power Rating, Phase, Insulation and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Schneider Electric (France), ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Co. Plc. (Ireland), General Electric (U.S.), Crompton Graves Ltd. (India), Olsun Electrics (U.S.), Pacific Crest Transformers (U.S.), Pearl Electric Co. Ltd. (China), ERMCO (U.S.), Federal Pacific (U.S.), Hitachi Ltd. (Japan), Vantran Industries Inc. (U.S.), Sunbelt Transformer, Ltd (U.S.), and Wenzhou Rockwell Transformers Co. (China)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||Rising demand for the modernization of the existing distribution network|
The market will achieve a growth rate of 5.2% in the coming years.
The market size is forecasted to reach USD 2,474 Million by 2030.
The most significant companies listed in the report are Siemens AG (Germany), Sunbelt Transformer, Ltd (U.S.), Schneider Electric (France), ERMCO (U.S.), Olsun Electrics (U.S.), Pacific Crest Transformers (U.S.), Pearl Electric Co. Ltd. (China), ABB Ltd. (Switzerland), General Electric (U.S.), Federal Pacific (U.S.), Hitachi Ltd. (Japan), Wenzhou Rockwell Transformers Co. (China), Vantran Industries Inc. (U.S.), Crompton Graves Ltd. (India), Eaton Co. Plc. (Ireland), and others.
Depending on phase, the market segments mentioned in the report include single phase pad mounted transformer as well as three phase pad mounted transformer.
Soaring demand for modernization of the existing distribution network to cater to the mounting need for electricity, expanding population and improvement in lifestyle have led to APAC’s lead in the market.
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