The distribution transformer market is expected to witness significant growth, due to the increasing power generation capacity plans across the world, growing demand for replacing/refurbishing of aging distribution transformers, and increasing electricity demand, particularly in China and India, owing to rapidly increasing industrial and infrastructural development activities. Additionally, the renovation and upgradation of grid networks is expected to further contribute to the growth in the distribution transformer market, owing to the extensive use of transformers in these refurbishment projects.
Growth in Renewable-based Power Generation
The global power supply is undergoing major transition, moving away from fossil fuels and shifting toward renewable energy sources. Moreover, investments in new renewable power capacity has outstripped the amount invested in fossil-based generating capacity, with most of the installation of new renewable energy capacity currently occurring in developing and emerging countries.
In 2017, generation from renewables was second only to coal and ahead of gas for the third year in a row. The strong growth in renewable energy is result of the increasing competitiveness of wind and solar power. Although the global investment in the renewable sector declined by 7% in 2017, the global renewable power capacity additions rose to a new high, growing at 2%, supported by more than 25% expansion in solar PV installations and record growth in offshore wind.
Moreover, the adoption of the Clean Power Plan or similar greenhouse gas emission restrictions by various nations, are expected to result in 170 GW coal-fired power plants retirements, by 2030. This is expected to create significant opportunity for renewable energy to fulfil the increasing energy demand, which is expected to increase the need for T&D infrastructure during the forecast period.
With rapid integration of renewables and distributed technologies onto the grid, utilities have to upgrade their existing systems to address the challenges of maintaining power quality, balancing supply and demand in real time, and ensure adequate distribution infrastructure capacity. Moreover, with the falling cost of renewables-based power generation, the requirement for T&D infrastructure is expected to increase, particularly in areas with lesser access to electricity.
UAE to Witness Significant Growth in the Market
The United Arab Emirates plans to invest GBP 119 billion (USD 150 billion) in renewable power by 2050, weaning the country from dependency on subsidized natural gas power in stages. Furthermore, the country remains committed of saving approximately USD 192 billion by 2050, by gradually moving away from dependency on natural gas in stages.
With the increasing integration of renewables projects in the electricity generation mix coupled with rising population and increased infrastructural development, the demand for distribution transformer is expected to remain high in the country.
Several sectors across the country, such as Abu Dhabi and Dubai, the Northern Emirates of Sharjah, Ajman, Umm al-Qaiwain, Ras Al Khaimah, and Fujairah, have been witnessing expansion of infrastructure to facilitate residential and tourist development, which has resulted in increased average electricity consumption and peak load demand across region and in turn has resulted in an increased pressure to ensure efficiency in transmission and distribution network through the use of efficient distribution transformers.
Notable Developments in the Market
- September 2018: ABB connects Sweden’s largest solar park, with a capacity of 5.5 MW, to the grid. ABB is expected to deliver a substation with switchgear, distribution transformers and relays, together with control equipment and inverters.
The major players include – ABB, Siemens AG, Eaton Corporation, Schneider Electric, General Electric Company, Crompton Greaves, amongst others.
Reasons to Purchase this Report
- Current and future distribution transformer market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
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1. Executive Summary
2. Research Methodology
2.1 Scope of Study
2.2 Market Definition
2.3 Study Assumptions
2.4 Study Deliverables
2.5 Research Phases
3. Market Overview
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
4. Market Dynamics
5. Industry Attractiveness - Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Consumers
5.3 Threat of New Entrants
5.4 Threat of Substitute Product and Services
5.5 Intensity of Competitive Rivalry
6. Market Segmentation and Analysis (Overview, Market Size and Demand Forecast until 2023)
6.1 By Type
6.1.2 Dry Type
6.2 By Capacity
6.2.1 Below 500 kVA
6.2.2 500 kVA-2500 kVA
6.2.3 Above 2500 kVA
6.3 By Phase
6.3.1 Single Phase
6.3.2 Three Phase
6.4 By Type of Mounting
7. Regional Market Analysis (Overview, Market Size and Demand Forecast until 2023)
7.1 North America
7.4 Middle East & Africa
7.5 South America
8. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)
8.1 ABB Ltd
8.2 Siemens AG
8.3 Eaton Corporation
8.4 Schneider Electric
8.5 General Electric Company
8.6 Crompton Greaves
*List not Exhaustive
9. Competitive Landscape
9.1 Mergers and Acquisitions
9.2 Joint Ventures Collaborations and Agreements
9.3 Strategies Adopted by Key Players
10. Future of the Market
**Subject to availability on public domain