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North America Oil Filled Transformer Market Trends

Report ID: GMI5058
Published Date: Jun 2023
Report Format: PDF

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North America Oil Filled Transformer Industry Trends

The electricity business in North America presents diverse prospects due to variations in operational areas, network characteristics, customer base, and ownership structures. Tariff and revenue review models take this diversity into account, allowing for effective comparisons across different entities. Despite this diversity, Distribution System Operators (DSOs) and Transmission System Operators (TSOs) generally strive to provide high-quality and reliable electricity supply to their customers.

However, these operators face challenges in ensuring efficient and cost-effective grid operation. To address these challenges, grid operators and governments are prioritizing the revamping, modernization, and expansion of existing electricity networks. The increasing demand for electricity, along with favorable regulatory reforms aimed at expanding the grid infrastructure, will boost the growth of the North America oil-filled transformer market.

According to the International Energy Agency (IEA), global electricity demand rose by 6% in 2021, with a 2.4% increase in demand across the Americas region. Regulators are placing significant emphasis on providing affordable and uninterrupted electricity, driving the implementation of reforms and policies in the sector. In addition, government efforts to enhance energy efficiency and increase power generation capacity will further contribute to the business development.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of oil-filled transformer valuation in North America crossed USD 10.2 billion in 2023 and will register 7.1% CAGR during 2024 to 2032, propelled by the rising demand for electricity across various sectors, including residential, commercial, and industrial.

Distribution transformer segment captured industry share of 68% in 2022 and will generate USD 14 billion by 2032, owing to widespread integration of renewable energy sources, such as solar and wind, into the power grid that requires the expansion & upgrade of distribution infrastructure.

The U.S. oil filled transformer sector is anticipated to witness 6.5% growth through 2032, backed by the ongoing refurbishment of existing grid infrastructure, along with rising demand for reliable supply energy across the country.

Fuji Electric Co., Ltd, Siemens Energy, Toshiba International Corporation, General Electric, Elsewedy Electric, LS ELECTRIC Co., Ltd, Lemi Trafo Transformers, Northern Transformer, WEG, and MGM Transformer Company among others.