Press Release / Environment / Distribution Transformer Market Size, Industry share, Application, Demand and Forecast to 2023

Distribution Transformer Market Size, Industry share, Application, Demand and Forecast to 2023

Distribution Transformer Market Overview:-
Transformer is an electrical device that transfers electrical energy between two or more circuits through electromagnetic induction. Transformer are used to increase or decrease the alternating voltages in power applications. It works on the principle of Faraday’s Law of Electromagnetic Induction which states that “the magnitude of voltage is directly proportional to the rate of change of flux.”
Global Distribution Transformer market is growing with the rapid pace; mainly due to advancement in technologies. According to a recent study report published by the Market Research Future, The global market of Distribution Transformer is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
 
Distribution Transformer Market   - Segments:
Global Distribution Transformer Market is segmented in to 5 Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Type: Pole Mounted, Pad Mounted, and Underground
Segmentation by Phase: Single & Three
Segmentation by Insulation: Oil- immersed and Dry
Segmentation by Power Range: 0-315kVA, 316-2499Kva, 2500-10000kVA and above 10000kVA
Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
 
Industry Top key Players:-

Hitachi (Japan)
Wenzhou Rockwell Transformer Co., Ltd. (China)
Mitsubishi Electric Corporation (Japan
Ormazabal (Spain)
SPX Transformer Solutions Inc. (U.S.)
ABB Ltd (Switzerland)
Eaton Corporation (Dublin)
General Electric (U.S.).
Wilson Power Solutions Ltd (U.K)
Emerson Electric (U.S.)

 
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Industry/ Innovation/ Related News:
14 March 2017: ABB launches world’s first digital distribution transformer. Integrated sensing and monitoring technology in ABB’s new TXpert™ transformer will provide intelligence to maximize reliability, optimize operating and maintenance costs and manage the asset more efficiently.
In 2016, Siemens, one of the most innovative suppliers of distribution transformers, signed a contract to supply the Iraqi market with 1,250 distribution transformers. The total order is about €9 million.
9 July, 2015: GE Introduced Next-Generation Transformer which provides customers safer, more environmentally friendly transformer for urban applications.
 
Global Distribution Transformer Market Analysis:-
The global distribution transformer market is segmented by type as pole mounted, pad mounted and underground, by insulation as oil immersed and dry, by power rating as <500 kVA, 500 kVA-2500 kVA, 2500 kVA- 10000 kVA, and > 10000 kVA , by end user as industrial, Utilities and commercial & residential  and by region as North America, Asia Pacific, Europe and Middle East & Africa.
 
Browse Complete Report @  https://www.marketresearchfuture.com/reports/distribution-transformer-market-2581 
 
The global distribution transformer market is expected to rise at USD ~19.0 billion by 2023 at a CAGR of ~8.70% in the forecast period. The growth is driven by improvements in the existing power infrastructure in developing countries, expansion in the current plans of transforming and distribution sector, smart grid initiatives for economic efficiency, and growth in the renewable sector. The major restraint is calibration of proper equipment in the market.
 
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