Selbyville, Delaware,, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The pad mounted distribution transformer market is projected to cross USD 20 billion by 2032, as reported in a research study by Global Market Insights Inc. The ongoing technological advancements in transformer design, materials, insulation, and monitoring systems leading to the introduction of efficient, reliable, and durable pad-mounted distribution transformers will boost the market growth. The rising shift towards reduced environmental impacts and enhanced safety is driving the higher integration of environmentally friendly insulating materials, such as natural ester fluids. For instance, in February 2023, Cargill launched its new transformer insulating fluid FR3r™ natural ester derived from over 95% rapeseed oil. The growing focus of transformer manufacturers on customized solutions to match specific customer requirements, including varied voltage ratings, load capacities, and application-specific features will also anchor the product demand.
The indoor installation segment in the pad mounted distribution transformer market is expected to exponentially expand through 2032, led by rising need for convenient solutions with smaller footprint in buildings and confined spaces. Indoor pad-mounted transformers are designed to be compact and space-saving. With the surging rate of urbanization and infrastructure development along with the dire need for efficient power distribution, pad-mounted transformers are further recording significant adoption for offering space-efficiency in indoor power distribution.
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Pad mounted distribution transformer industry size from the gas insulation segment will significantly grow between 2024 and 2032. The growth can be attributed to the rising preference for these transformers in urban and space-constrained areas as they require less installation space. Gas-insulated pad-mounted transformers also provide space-saving solutions while meeting the escalating demand for electricity in urban settings. The soaring emphasis on environmental sustainability and reduced environmental impacts will also drive the product uptake.
Pad mounted distribution transformer market is estimated to record exponential growth by 2032, driven by the increasing transition to renewable energy sources. The rising investments in smart grid technologies is driving the adoption of pad-mounted distribution transformers with monitoring, diagnostics, and communication features to support the modernization of grid infrastructure. The growing emphasis on energy efficiency and reduced losses in power distribution is another important factor propelling the regional industry growth.
Some of the leading companies operating in the pad mounted distribution transformer market include Eaton Corporation, Toshiba Energy Systems & Solutions Corporation, Mitsubishi Electric Corporation, Celme S.r.l., ORMAZABAL, Siemens, IMEFY GROUP, Hitachi Energy Ltd., Voltamp, General Electric, HYOSUNG HEAVY INDUSTRIES, Schneider Electric, CG Power & Industrial Solutions Ltd., ABB, ERMCO, and Elsewedy Electric. These industry players are focusing on new product developments to widen their customer base. For instance, in April 2022, Siemens Energy launched CAREPOLETM, its new pole-mounted dry-type transformer to cater to pole applications in the American market.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Pad mounted distribution transformer industry 360° synopsis, 2019 - 2032
Chapter 3 Pad Mounted Distribution Transformer Market Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 COVID- 19 impact on the industry outlook
3.5 Growth potential analysis
3.6 Porter's Analysis
3.7 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
