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A medium voltage distribution transformer or service transformer is a type of transformer that can provide final voltage conversion in the distribution system, reducing the voltage used in the distribution line to the level used by the customer. The term 'medium voltage' is generally used for power distribution systems with voltages greater than 1 kV and applies typically to voltages up to 52 kV. Due to technical and economic reasons, the service voltage of the medium voltage distribution network rarely exceeds 35 kV.
Most end users are shifting their attention from fossil fuel generators to alternative forms of electricity or energy. Furthermore, dependence on fossil fuels and carbon emissions is also increasing rapidly. Therefore, renewable energy sources, such as solar and wind, are used to reduce this dependence. Many countries plan to adopt these renewable energy sources, which is expected to increase the demand for medium voltage transformers for power transmission and distribution. In addition, increased awareness of smart grids, intelligent control systems, smart power distribution, and control systems has increased the use of medium voltage transformers, which will drive the market's growth.
Pressure leads to operational failures and inefficiencies, leading to delays and suspensions, which are the main factors hindering the growth of the global medium voltage distribution transformer market. The distribution transformer has several different parts, and they work simultaneously. Other features of the distribution transformer have various faults, causing different faults. Manufacturing defects such as low safety factors and single unit failure can lead to the collapse of the entire transformer. This may cause delivery failures or delays, which may result in orders being suspended.
North America is anticipated to show impressive development during the forecast period. North America and Europe are significant markets for medium voltage distribution transformers because of these regions' high electricity consumption per capita and increasing renewable energy projects. The Asia-Pacific market is expected to gain momentum and surpass North America and Europe in scale.
The medium voltage distribution transformer market is expected to take a significant amount of time before recovering from the impact of the COVID-19 pandemic due to energy consumption reduction due to industrial shutdowns.
Although the energy industry is slowly gaining momentum due to restarting of industries, medium voltage distribution transformer demand is anticipated to rise slower.
The report will cover the following key insights:
Based on type, the global medium voltage distribution transformers market can be divided into dry, oil-immersed, and vacuum pressure impregnated. Dry-type medium voltage transformers are expected to become most of the forecast period because they have several advantages over oil-type transformers. They are typically smaller, lighter, and easier to maintain, requiring only occasional cleaning and inspection. The use of dry-type transformers eliminates leaks and spills, making them essentially environmentally friendly. The goal of using environmentally friendly products to upgrade and develop energy infrastructure is to create business opportunities for medium voltage dry-type transformers globally.
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The Asia-Pacific region is expected to be the largest market during the forecast period. The growth in power generation in the Asia-Pacific region is due to the growing energy demand supported by the region's growing industrial sector, population growth, urbanization, and the rise of the middle class, especially in emerging countries. The area is expected to have large-scale transmission and distribution infrastructure projects to connect new power plants and rural populations to the grid. In addition, the construction and industrial sectors in the region are experiencing significant growth.
The report will include profiles of key players such as Hitachi ABB Power Grids, Siemens Transformers LLC, SGB-SMIT Group, GE, Schneider Electric, Efacec, CHINT Electric, CG Power and Industrial Solutions Limited, WEG, Eaton - Electrical/Electronic Manufacturing, Hubbell Incorporated. Mitsubishi Electric Power Products, Inc., ALCE, TWB, Hammond Power Solutions, and MGM Transformer Company.
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