Power & Distribution Transformer Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type (Power Transformer & Distribution Transformer), By Rating (1-500 MVA, Upto 1000 KVA & Above 500 MVA), By End User (Industrial, Commercial, Residential & Utility), By Phase (Three Phase & Single Phase), By Insulation (Oil Immersed & Dry), By Region, By Competition F

Global Power & Distribution Transformer Market was valued at USD 50,923.69 million in 2022 and is expected to register a CAGR of 7.59% during the forecast period.

Technological Advancement of Smart Grid

The key market trend for the global power & distribution transformer business is the rising need for consistent and dependable electrical energy worldwide. Several industrialised nations are currently concentrating their efforts on modernising their aging energy infrastructure. The need for I.O.T. compatible distribution transformers will rise as smart grid technology develops. For instance, AMI (Advanced Metering Infrastructure) devices are predicted to see a significant growth rate as a result of the grid modernization activities done by the state and federal governments throughout the area. By 2027, it is predicted that countries such as Mexico would invest USD 6.3 billion in the infrastructure of smart grids and another USD 2.1 billion in LED and smart street lighting, which might open up a wide range of opportunities for the concerned industry players. A smart grid is thought of as a highly effective and affordable technology that can reduce carbon emissions into the environment. Future prospects for the North American transformer business might result from such improvements to the region's present networks.

Download Free Sample Report

Government Initiatives Power Transformers

As part of its infrastructure plan, which was presented in 2016, the Canadian government anticipates investing over USD 180 billion over the following 12 years in projects related to transportation, green infrastructure, social infrastructure, commerce, and tourism. Similarly, as part of its Smart Renewables and Electrification Pathways Initiative, the Canadian government announced in 2021 that it will contribute up to USD 964 million over four years for projects related to smart renewable energy and grid modernization (SREPs). Thanks to the proper application of governmental laws and support of grid growth, 98 million smart meters have been placed in the US by the end of 2020. The market may see growth during the projected period as a result of governments in many North American nations investing in advanced metering infrastructure to update the energy grid and minimize transmission and distribution losses. Moreover, it is anticipated that increased investment in the modernization of Europe's transmission and distribution networks will result from the rising energy demand from the expanding commercial and residential sectors, supporting the European market for distribution transformers in the years to come.

Latest Investments

North America is predicted to have a high CAGR over the forecast period. In 2019, the California Public Utilities Commission granted a permit for the construction of the Artesian 230-kV Substation Expansion Project in San Diego County, California. The commission additionally observed that SDG&E’s

Download Free Sample Report

Market Segmentation

The Global Power & Distribution Transformer market is divided into Type,

Market Players

Major market players in the Global Power & Distribution Transformer market are