Global Distribution Transformer Market to Reach $47.5 billion, Globally, by 2033 at 6.6% CAGR

Allied Market Research - Seite 2

300

Segments Covered

Product Type, Phase Type, Insulation Type, Power Rating, End-Use Industry, and Region

Drivers

Rise in demand for electricity

The adoption of smart grid technologies

Opportunity

The deployment of microgrids

Restraint

Fluctuating raw material prices

The underground vault is expected to grow faster throughout the forecast period.

By product type, the pad mounted segment held the highest market share in 2023, accounting for more than half of the distribution transformer market revenue. This is attributed to the fact that pad-mounted transformers are frequently used in areas where underground distribution lines are common or where aesthetics and space considerations make overhead lines less desirable. They are often found in residential neighborhoods, commercial areas, and industrial zones.

However, the underground vault segment is the fastest-growing segment in the distribution transformer market growing with a CAGR of 7.1%. Installing distribution transformers in underground vaults requires careful planning and coordination with other underground utilities like water, sewer, and telecommunication lines. Proper insulation and waterproofing are also crucial to prevent water ingress.

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The single phase segment is expected to lead throughout the forecast period.

By phase type, the three phase segment held the highest market share in 2023, accounting for nearly two-thirds of the global distribution transformer market revenue and is likely to retain its dominance throughout the forecast period, whereas the single phase segment is the fastest-growing segment expected to grow with the CAGR of 6.8%. In backup power systems or standalone power systems, single-phase distribution transformers may be used to step down voltage from generators or alternative energy sources to supply single-phase loads.