A new research report has been released by Transparency Market Research and offers a comprehensive evaluation of the global Pad Mounted Transformers Market between 2017 and 2025.
The pad mounted transformers market is driven by the enhancements in process control, broad application of information technology to machinery, and technology advancements in machinery.
Improved efforts by major market players to combine engineering, focused architecture, and logistics and produce highly capable machinery and equipment are the elements that are likely to further drive the market.
Additionally, rapidly increasing industries, imminent mergers & acquisitions by market leaders, to lead the market and to satisfy the demand of the population may foster the growth of the pad mounted transformers market.
Furthermore, rapid urbanisation and increasing population across the globe has amplified the demand for pad mounted transformers in different segments on the basis of indirect or direct operation.
Moreover, investments in R&D activities in various segments such as automation of operations, steering systems, and data management are anticipated to have a positive influence on the pad mounted transformers market.
Furthermore, considerable investments are scheduled for the development of transmission and distribution networks across the globe. Some regions are looking to renovate their aging infrastructure, while others are expanding their power grid network. These are estimated to be major driving factors for the pad mounted transformers market.
The only alternate technology that is likely to substitute pad mounted transformers is pole-mounted transformers. They are presently restricted by rated power, as pole-mounted transformers having high rated power are bigger in size and need stronger poles with appropriate balancing to mount. Other than that, there is no technology, at present, which can replace pad mounted transformers.
The pad mounted transformers market can be segmented on the basis of rated power type, phase, insulation, end-user, and region.
In terms of rated power type, the market can be segmented into less than 1mVA and more than 1mVA. In terms of phase, the market can be further segmented into single phase and three phase.
In terms of insulation, the pad mounted transformers market can be segmented into dry type and liquid immersed. Based on end-user industry, the market can be segmented into residential, commercial, and industrial.
Large capacity, compatibility, and high applicability with three phase power supply offers significant benefit to three-phase pad mounted transformers over single-phase pad mounted transformers. This is likely to drive the market for three phase segment of the pad mounted transformers market.
The less than 1 mVA rated power type segment is anticipated to dominate the market during the forecast period due to the rise in demand from the commercial and residential sectors.
Commercial establishments and houses generally do not have high power consuming equipment, unlike industries. Therefore, the demand for less than 1 mVA rated power pad mounted transformers is expected to be higher as compared to more than 1 mVA rated power pad mounted transformers.
In terms of volume, Asia Pacific is likely to dominate the market during the forecast period due to the presence of rapidly emerging economies such as China and India, which are currently witnessing increasing demand for pad mounted transformers to provide electricity to rural areas.
Furthermore, industrialisation in India, China, and other developing countries in Asia Pacific, upgrade of old infrastructure in countries such as Japan and Australia, and the development of transmission and distribution network in Malaysia, China, India, and ASEAN countries is anticipated to augment the expansion of the market in these regions.
The market in Europe is likely to expand at a sluggish pace as the economies of countries in Western Europe are recovering from their recent slump and are unlikely to invest in upgrading their power grid networks to smart grids.
The market in North America is projected to expand more slowly due to the relatively mature markets in countries such as the U.S. and Canada.
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