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Asia Pacific Distribution Transformer Market Size

  • Report ID: GMI7242
  • Published Date: Oct 2023
  • Report Format: PDF

Asia Pacific Distribution Transformer Market Size

Asia Pacific Distribution Transformer Market was valued at USD 9.5 billion in 2023 and is estimated to register at a CAGR of over 5.5% between 2024 and 2032. Rapid urbanization and industrialization across the region have led to increased electricity demand, necessitating the expansion and modernization of electrical infrastructure, including distribution transformers. The growing emphasis on renewable energy sources, such as wind and solar power, has created a need for efficient distribution transformers to integrate these intermittent energy sources into the grid. According to the National Bureau of Statistics (NBS) of China, renewables accounted for more than 47% of the nation's total electricity generation capacity in 2022.

 

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Furthermore, government initiatives promoting energy efficiency and grid reliability have spurred investments in advanced distribution transformer technologies. In addition the adoption of smart grid solutions and the development of electric vehicle charging infrastructure are also contributing to the distribution transformer business expansion in the Asia Pacific region, as they require sophisticated transformers to manage and distribute power efficiently.

 

 

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of Asia Pacific distribution transformer was exceeded USD 9.5 billion in 2023 and is projected to reach USD 15.8 billion by 2032, driven by the rapid urbanization and industrialization across the region and the growing emphasis on renewable energy sources, such as wind and solar power.

Asia Pacific shell core distribution transformers market generated over USD 3.3 billion in 2022 and is projected to exceed USD 6 billion by 2032, due to increasing electricity demand, rapid infrastructure development, and the need for efficient power distribution.

India distribution transformer market size accounted for more than USD 2.8 billion in 2022 and is estimated to cross USD 5.2 billion by 2032, driven by the ongoing urbanization and industrialization in the country.

Some of the major companies in the Asia Pacific distribution transformer market are Siemens, General Electric, Mitsubishi Electric Corporation, Hitachi Energy Ltd., ABB, Schneider Electric, Toshiba Energy Systems & Solutions Corporation, Eaton Corporation, and CG Power & Industrial Solutions Ltd.

Asia Pacific Distribution Transformer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 534
  • Countries covered: 5
  • Pages: 410
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