Pad Mounted Transformer Market Research, Size, Share, Revenue, Production Value, Outstanding Growth and Demand by Forecast to 2023
Global Pad Mounted Transformer Market Analysis
The global pad mounted transformer market is estimated to witness a CAGR of 5.14% during the forecast period.
Pad mounted transformer is a ground mounted electric power distribution transformer locked in a steel cabinet mounted on a concrete pad. Growth in demand for energy throughout the globe is driving the growth of the market. The healthy growth in the economy as well as in the population has led to the increase in power consumption. Thus, several countries are increasing and improving their electric grid infrastructure to accomplish this growing demand. Such developmental activities are likely to provide a various opportunity for pad mounted transformer market. However, availability of alternate technology, such as pole mounted transformer, may act as a restraining factor for the market.
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Asia Pacific region dominates the global pad mounted transformer market
Geographically, the global pad mounted transformer market has been divided into four major regions such as North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific region has accounted for the largest market share in 2016 mainly due to rapid industrialization and urbanization. Whereas, Europe is another major market for the pad mounted transformer. It is expected to expand at a slow pace during the forecast period. In Europe, the economies of countries in Western Europe are recuperating from their recent slump and are unlikely to invest in upgrading their power grid networks to smart grids. This provides a positive impact on the growth of the market. The U.K, Germany, Spain, and France are the major regions in the Europe pad mounted transformer market. In South America, Brazil, and Argentina are the major regions for the pad mounted transformer market. In Argentina, the government is in the process of commissioning large projects, both in the transmission and generation sectors. To meet the growing demand, it is estimated that around 1,000 MW of new generation capacity is needed each year. All these major factors are likely to boost the pad mounted transformer market growth during the forecast period.
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Competitive Landscape
Due to the existence of several well established and small players, the global market for pad mounted transformer appears to be highly competitive. Well-known players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain a competitive advantage in the market and maintain their market position. These key players compete on pricing and services. Vendors operating in the market strive to deliver the best quality products and services based on advanced technologies and best practices. These key players make a substantial investment on R&D and to secure a guaranteed resource for the customers.
Leading 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).
Industry News
Helping to meet the growing integration of solar energy, GE's Digital Energy business has launched new three-phase, PROLEC-GE Solar Pad-Mounted Transformer. With this transformers, the energy coming from the solar inverter and generated by photovoltaic cells in solar farms will be transformed from low voltage to medium voltage.
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