The distribution transformers market is segmented by end-user (power utilities and industrial and commercial), type (oil-filled and dry type), and geography (APAC, North America, Europe, Middle East and Africa, and South America). Technological advances in distribution transformers is the major distribution transformers market trends that will positively influence the market value.
The distribution transformer's market share will value over USD 5,087.9 million by 2027
It is estimated to expand at a CAGR of 4.98% from 2022 to 2027
The distribution transformers market size will witness a YOY growth rate of 4.76% in 2023
Get a peek into the Distribution Transformers Market Analysis Report 2023-2027. Unlock the Sample Report The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 15850.94 million.
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Technological advances in distribution transformers are the primary trend in the global distribution transformers market growth. The digitization of distribution transformers offers end-users data points that can help in operating transformers to their full capacity and enable to achieve of predictive maintenance for transformers. The digitization of distribution transformers enables optimized grid operation, quicker action, and predictive maintenance. Such advantages drive the growth of the global distribution transformers market during the forecast period.
Rising requirements for power from residential, industrial, and commercial sectors is the key factor driving the growth of the global distribution transformers market. The growth in per capita income has resulted in the extensive use of electrical and electronic equipment in these countries, thereby enhancing the demand for power. the rising demand for power in different end-user sectors is expected to continue to be the major driver for the global distribution transformers market during the forecast period.
Some of the major distribution transformers market vendors are:
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The volatile raw material prices are the major hindrance for market players
The distribution transformer's market structure is fragmented in nature.
41% of distribution transformers market growth will develop from APAC.
The market growth by the power utilities will be significant during 2023-2027.
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