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North America Distribution Transformer Market Forecast 2019-2027

KEY FINDINGS

North America is one of the fastest growing markets for distribution transformers and is expected to grow at a CAGR of 7.22% over the forecast period of 2019-2027. The fact that renewable energy is expected to gain traction in this region, coupled with the continuous digital transformation of utilities is presenting the market with plenty of growth opportunities.

MARKET INSIGHTS
The primary drivers for the market growth include smart grid electrifying market, advances in transformer industry, growing focus on green energy and modernization of the ageing power infrastructure. Although the outlook looks promising, the market may have to face certain challenges concerning the standardization of equipment and stress causing failures that might restrain the market growth. At present, the market is being segmented on the basis of phase (single or three phase), on the basis of insulation (dry or oil-filled) and on the basis of the mount (pole, pad, underground vault, etc.).

COMPETITIVE INSIGHTS
Some of the prominent players in the market include Hyosung Corporation, Wilson Power Solutions, Brush Electrical Machines Ltd., Ormazabal Velatia, Celme S.r.l., Areva SA, Hammond Power Solutions, Inc., Schneider Electric, Siemens AG, Kirloskar Electric Company Limited, Lemi Trafo JSC, Eaton Corporation PLC, Starkstrom Gerätebau GmbH, Bowers Electrical Ltd., ABB Ltd., Crompton Greaves Ltd., Hitachi Ltd., Emerson Electric Co. and General Electric.
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North America Distribution Transformer Market Forecast 2019-2027
Published By :Inkwood Research
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