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Shell Core Distribution Transformer Market Trends

Report ID: GMI8428
Published Date: Mar 2024
Report Format: PDF

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Shell Core Distribution Transformer Market Trends

The shell core distribution transformer industry has seen a surge in demand driven by increasing urbanization, industrialization, and infrastructure development globally. Key trends include a shift towards environmentally friendly and energy-efficient transformers, adoption of smart grid technologies, and integration of renewable energy sources.

As per IEA, 100% of households in China consisted of smart meters in 2021, followed by Japan with 86% of households utilizing smart meters, which is expected to grow further in the coming years. Additionally, advancements in transformer design, such as compact and lightweight models, along with improved insulation materials, are gaining traction. Emerging markets, particularly in Asia-Pacific and Africa, are witnessing significant growth opportunities, while digitalization and automation are reshaping the industry landscape.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of shell core distribution transformer was reached USD 11.4 billion in 2023 and is estimated to record a CAGR of over 8.2% through 2032, driven by increasing urbanization and industrialization.

The ? 2.5 MVA rating segment held a market share of over 60% in 2023 and is anticipated to grow substantially in coming years, fueled by the increasing demand for electricity in urban and rural areas, coupled with rise in infrastructure development projects worldwide.

North America shell core distribution transformer industry is projected to reach over USD 9.8 billion by 2032, owing to the growing investments in grid modernization to enhance reliability and efficiency, alongside the expansion of renewable energy capacity.

ABB, Celme S.r.l., CG Power & Industrial Solutions Ltd., Eaton Corporation, Elsewedy Electric, EMCO Limited, General Electric, Hitachi Energy Ltd., HYOSUNG HEAVY INDUSTRIES, Mitsubishi Electric Corporation are some of the major industry contenders.