US oil filled distribution transformer market revenue to grow exponentially
According to a recent study from Graphical Research, the US oil filled distribution transformer market will gain momentum during the forecast timeline due to the robust with concerted effort to renovate and upgrade electricity grid infrastructure.
Favourable government regulations for the grid infrastructure refurbishment and the development of smart cities will expedite the deployment of different transformers.
End-users will exhibit profound traction for oil filled transformers as they are more efficient and have a longer service life. High-income countries such as the US are poised to invest in transmission and distribution networks and renewable-based power generation plants. A rising inclination for oil filled distribution transformers is partly credited to low repairing costs and the need for cleaning and inspection. According to an estimate, US oil filled distribution transformer market size will witness a commendable gain through 2027.
The commercial sector is expected to exhibit traction for pad-mounted oil filled distribution transformers considering the low installation cost, improved safety and aesthetics. A renewed focus on R&D activities in the energy sector and applications in indoor installations, such as malls and complexes will bolster the trend for pad-mounted transformers. Pad-mounted oil filled distribution transformer will account for a notable share of US market over 2021-2027.
Lately, the growth prospect of autotransformers will be noticeable on the back of the integration of innovative monitoring technologies. These transformers will be sought across energy applications to interconnect systems at various voltages. US oil filled distribution transformer industry share from auto transformers is forecast to grow at a robust CAGR through 2027.
End-users are likely to show interest in >1 MVA distribution transformers following the integration of renewable energy establishments and the growth of distribution networks. Expansion of medium voltage (MV) distribution energy networks will augur well for the deployment of oil filled distribution transformers. Moreover, public and private organisations will continue to seek >1 MVA oil filled distribution transformers.
Closed core transformers are expected to gain upticks from the growth of T&D networks and increased demand for energy efficiency and voltage optimisation. Besides, digitisation for monitoring and controlling operations will boost grid stability.
US oil filled distribution transformer market share from closed core segment will grow at a significant rate during the forecast period.
Amidst the shifting landscape of distribution transformers, both well-established players and new entrants are likely to emphasise product launches and innovations. To illustrate, in April 2021, Siemens Energy rolled out edge transmission products to digitise power transmission assets in the substation. Key vendors in US oil filled distribution transformer industry are Siemens Energy, Toshiba Energy Systems & Solutions Corporation, Hitachi ABB Power Grids, Schneider Electric, DOS Canada, MGM Transformer Company, Northern Transformer, Eaton and General Electric, among others.
Stakeholders in US oil filled distribution transformer market are likely to inject funds into renewable electricity and energy transformation projects. Adoption of digital solutions, along with the need for decarbonisation, is likely to bolster growth potentials in the distribution transformer landscape. Prominently, the upgradation of power networks will open new possibilities for grid operators.