Market Research Future published a half-cooked research report on global pad mounted transformer market. The pad mounted transformer market size is projected to witness a CAGR around 5.14% during the period from 2017 to 2023.
Market Highlights
A pad mounted transformer is a ground mounted electric power distribution transformer, locked in a steel cabinet mounted on a concrete pad. These transformers normally have features such as tamper-resistant construction, tamper proof bolts and screws, and lockable compartments with hinged doors. These transformers serve schools, hospitals, shopping centers, and many institutional and industrial applications. Growing investment in renewable sector is rigorously driving the global pad mounted transformer market. To lessen the dependence on conventional fossil fuels, several countries are focusing on renewable energy generation. Furthermore, the market is also driven by enhancements in process control, broad application of information technology to machinery, and technological advancements in machinery. However, the factor restraining the growth of the pad mounted transformer market is that it needs land for installation and has to be placed inside an enclosure to prevent contact with flammable materials. This involves additional cost, which is not required in case of pole mounted transformers.
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Geographically, Asia Pacific region is the dominating and the fastest growing region for the pad mounted transformer market. In rest of the world, the Middle East Africa is the second fastest growing market for pad-mounted transformer. Speedy urbanization is the factor that greatly impacts the Gulf nations, leading to the eventual development of smart cities, megacities, and even mega corridors of cities, as well as leading to the increasing number of power plants in the region. This is estimated to impact the power TD sector significantly.
Market Research Analysis
For this study, the global Pad mounted transformer market has been divided into four segments such as power rating, phase type, insulation, and application. On the basis of insulation, the market has been segmented into dry type and liquid immersed. Dry type pad mounted transformer dominate the phase segment of the market in 2016 and is continuing to dominate the market during the forecast period. This transformer is safer to use and has a lower maintenance cost. This increase the popularity of dry type pad mounted transformer among the consumers.
On the basis of application, the market has been segmented into residential, industrial, and commercial. The notable growth in the industrial sector across the world is producing an immense power requirement for the proper functioning of the sector. The high reliability of industrial sector towards power is empowering the growth of the power equipment in the sector. The enormous amount of power consumption in the industrial sector with varying load capacity is estimated to boost the pad mounted transformer market during the forecast period. The commercial sector is also another major application of the market. The growth in the population resulting in urbanization across all major economies in the world is making a fruitful market for the pad mounted transformer for this sector.
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Scope of the Report
This study provides an overview of the global pad mounted transformer market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Pad Mounted Transformer market by its type, phase type, voltage range, application, and region.
Key Players
The prominent players in the pad mounted transformer market include Schneider Electric (France), ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Co. Plc. (Ireland), General Electric (U.S.), Crompton Graves Ltd. (India), Olsun Electrics (U.S.), Pacific Crest Transformers (U.S.), Pearl Electric Co. Ltd. (China), ERMCO (U.S.), Federal Pacific (U.S.), Hitachi Ltd. (Japan), Vantran Industries Inc. (U.S.), Sunbelt Transformer, Ltd (U.S.), and Wenzhou Rockwell Transformers Co. (China).
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