Rapid urbanisation and increasing technological advancements are expected to drive global pad mounted transformers market during forecast period
According to TechSci Research report, “Global Pad Mounted Transformers Market By Insulation Type, By Phase, By Rated Power, By End User, By Region, Competition, Forecast & Opportunities, 2024”, global pad mounted transformers market was valued at USD4.5 billion until 2018 and is estimated to grow with an impressive CAGR during the forecast period on account of increasing efforts by key market players to combine engineering, focused architecture, and logistics in order to produce highly capable machinery and equipment. Moreover, rapidly emerging industries coupled with imminent mergers & acquisitions by major market leaders is expected to bolster the growth of global pad mounted transformers market over the coming years. Furthermore, rapid urbanization and increasing population across the globe has resulted in increased demand for pad mounted transformers under different segments, which is anticipated to boost the market over the coming years.
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In terms of rated power, the market is segmented into power<1 MVA and power >1 MVA. Power< 1 MVA rated power type segment dominated the market until 2018 and is projected to maintain its dominance during the forecast period owing to rise in demand from the commercial as well as residential sectors. Unlike industries, commercial establishments as well as houses usually do not have high power consuming equipment. Therefore, the demand for less than 1 MVA rated power pad mounted transformers is estimated to be higher than more than 1 MVA rated power pad mounted transformers.
ABB Ltd. Eaton Corporation PLC., Siemens AG., Crompton Greaves, Federal Pacific, Hitachi, Moloney Electric, Inc., Pacific Crest Transformers, Inc., Pearl Electric among others are the leading players operating in global pad mounted transformers market.
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“Regionally, the pad mounted transformers market is gaining traction and expanding in Asia-Pacific, North America, South America, Europe, and Middle East & Africa regions. Among these regions, Asia-Pacific region is anticipated to dominate the global pad mounted transformers market during the forecast period which can be attributed to the presence of emerging countries like China and India, which are witnessing high demand for pad mounted transformers in need to provide electricity to rural areas. Additionally, industrialization in India, China, and other growing countries in Asia-Pacific is leading to the development of transmission and distribution network which is further witnessed to augment the expansion of the pad mounted transformers market through 2024.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Pad Mounted Transformers Market By Insulation Type, By Phase, By Rated Power, By End User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global pad mounted transformers market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global pad mounted transformers market.
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