Pad-mounted Transformer Market by End User (Industrial, Commercial, and Residential), by Phase (Single and Three), by Rated Power (<1 MVA and >1 MVA), by Insulation Type (Dry-type and Liquid-Immersed) & by Region - Global Forecast to 2020
Seattle, WA -- (SBWIRE) -- 04/28/2017 -- Industrial end users are expected to grow at the highest rate in the end user segment. The key driving factor will be favorable government policies for the growth of industries in various countries such as Mexico, China, Brazil, and India. The U.S. has come up with new norms for the efficiency of distribution transformers which will be implemented from 1st January, 2016. More efficient pad-mounted transformers will reduce electricity wastage and thereby increase savings in terms of power and capital. This new policy reform is expected to drive the pad-mounted transformer market in the U.S.
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The pad-mounted transformer market is expected to grow at a decent rate of 5.21% from 2015 to 2020. It is projected to reach USD 6 Billion by 2020. The growth in the pad-mounted transformer market is supported by large investments planned for upgradation and expansion of power transmission & distribution networks across globe. Developing countries are expanding their power grid networks to meet the growing demand for electricity from industries, as well as connecting the rural sector to the power grid for domestic use. Large industries are coming up in developing countries like China, and India due to industrialization and are expected to create a good demand for pad-mounted transformers.
The market is dominated by a few international players which hold more than 50% share of the pad-mounted transformer market. Major leaders are ABB Ltd. (Switzerland), Schneider Electric (France), Siemens AG (Germany), GE (U.S.), and Eaton Corporation Plc. (Ireland). These players are expanding their market share by winning new projects for power transmission & distribution and by opening manufacturing facilities in regions with high demand.
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