“The report on Europe Distribution Transformer Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.
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Distribution Transformer Market: Overview
- Distribution transformer provides the final voltage transformation in an electric distribution system. Distribution transformer reduces the voltage used in distribution lines. Distribution transformer also distributes power to remote areas. Distribution transformer is available in various sizes and efficiencies depending on the installation site and needs.
Expansion of Renewable Power Generation Capacity across Europe to Drive Europe Distribution Transformer Market
- The European Union has been dominating the global renewable energy sector since more than two decades. The adoption of long-term targets and supportive government policies & measures have boosted renewable energy consumption across the region. Renewable energy consumption in the European Union stood at 9% in 2005. It is expected to reach 20% by the end of 2020.
- Renewable energy generation capacity in Europe stood at 1,029 TW in 2019. Hydropower accounted for major share with installed capacity of 425.8 TW in 2019. Wind and solar energy held the remaining share, with installed capacities of 272.7 TW and 113.5 GW, respectively. Renewable energy from bioenergy constituted 92.6 TW, while other renewable sources stood at 124.4 TW in 2019.
- Growth in power generation from renewable energy is creating opportunities for the distribution transformer market in Europe. Renewable projects are off-grid; therefore, they need transformers for transmission and distribution of electricity. Distribution transformer is vital part of power distribution. Distribution transformer supplies electricity from the substation to consumers.
Stringent Manufacturing Standards to Hamper Europe Distribution Transformer Market
- The European Union has implemented stringent rules and regulations related to environmental safety and carbon emission. Governments of countries in the European Union have formulated highly stringent regulations regarding manufacturing standards. As per the European Union Directive 2009/2B/Ec of the European Parliament and of the council of April 23, 2009, all European countries agreed on lowering greenhouse gases and carbon emission by 2030.
- The European Environment Agency has introduced new measures for the power industry in Europe. These new measures set a range of emission limits that member states must use for emission permits issued to power plant operators by 2021. According to the European Environment Agency, implementing the upper emission limits of the new requirements would result in emission cuts of 66% for sulfur dioxide (SO2), 56% for particulate matter, and 51% for nitrogen oxide (NOx) by 2030 compared to the 2016 emissions. The agency also provided norms for 2050 gas emission targets, which would result in more substantial emission reductions of 91% for SO2, 82% for particulate matter, and 79% for NOx.
- Governments have introduced stringent standardization norms to encourage quality manufacturing in the sector, particular in the distribution transformer segment. Germany and the U.K. have enacted stringent quality norms in the power sector. This is anticipated to restrain the number of new manufacturers entering the market. Thus, implementation of stringent manufacturing standards is estimated to hamper the distribution transformer market in Europe in the near future.
Digitization of Substations to Offer Growth Opportunities for Europe Distribution Transformer Market
- Countries in Europe implemented the IEC 61850 standards to modernize its substations. IEC 61850 is acknowledged as the global communications standard that enables increased control, monitoring, and automation within electrical power systems. Substations act as hubs in the electric transmission network. Within these substations, protection and control systems control the flow of power. Reliable protection and control systems are essential to ensure a dependable and secure power system, while minimizing equipment damage and loss of energy supply as well as maintaining public safety. IEC 61850 enables automated substation operations, which creates an efficient transmission network that can respond during real time variations. IEC 61850 and digital substations are likely to benefit customers with long-term cost savings, future system flexibility, and increased safety.
- Digitization of substations has gained momentum in Europe over the last few years. This can be ascribed to the implementation of artificial intelligence and Internet of Things-based systems in the power sector in the region. Countries in Europe are planning to spend more than US$ 20 Bn on digitization of substations in the next five to 10 years.
- Along with digitization of substations, countries are upgrading their smart metering networks. They are also planning to upgrade the electricity cable network. This is projected to provide better connectivity and safety to consumers.
- Usage of electric vehicles in the region is also expected to rise in the near future. This, in turn, would lead to growth in the number of charging stations, thereby augmenting the demand for distribution transformers. This is estimated to boost the distribution transformer market in Europe in the next few years.
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Europe Distribution Transformer Market: Key Developments
- In May 2018, Toshiba International Corporation announced the addition of HECO, Inc. to its nationwide network of distributors. HECO offers the full range of Toshiba electric motors.
- In March 2018, Toshiba International Corporation announced that it won the Manufacturing Leadership Award for its outstanding achievement in Advanced Enterprise Software Deployment
Rest of Europe to Dominate Europe Distribution Transformer Market
- Rest of Europe held a significant share of the distribution transformer market in Europe in 2019. The region is anticipated to maintain its dominance during the forecast period. This can be ascribed to increase in electricity consumption due to industrialization and urbanization. Rest of Europe includes countries such as Germany, France, Italy, and Russia & CIS. These are leading countries in terms of production of electricity in the region. The demand for distribution transformers is expected to rise in these countries in the near future.
- The U.K. and Spain are also key countries of the distribution transformer market in Europe, led by rise in investments in conventional as well as renewable energy sources in these countries. Aging grid system is one of the key drivers of the distribution transformer market in the U.K. and Spain.
Europe Distribution Transformer Market: Competition Landscape
- The distribution transformer market in Europe is highly consolidated, with the presence of a few number of players operating at regional and international levels
- Key players operating in the distribution transformer market in Europe are
- Siemens AG
- General Electric
- Schneider Electric
- ABB Ltd
- Kirloskar Electric Ltd
- Toshiba International Corporation
- Crompton Greaves Ltd
- Eaton Corporation
Europe Distribution Transformer Market – Scope of the Report
The latest study collated and published analyzes the historical and present-day scenario of the distribution transformer market in Europe to accurately gauge its potential development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the distribution transformer market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the distribution transformer market will progress during the forecast period of 2022-2031.
The report offers intricate dynamics about the different aspects of the distribution transformer market that aid companies operating in the market in making strategic development decisions. The study also elaborates on the significant changes that are highly anticipated to configure the growth of the distribution transformer market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the distribution transformer market, and estimate statistics related to the market progress in terms of value (US$ Mn).
This study covers a detailed segmentation of the distribution transformer market, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the distribution transformer market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
For more information about this report visit: Europe Distribution Transformer Market“
Key Questions Answered in the Report on Europe Distribution Transformer Market
The report provides detailed information about the distribution transformer market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the wind turbine control systems, so as to help them make successful strategies and take target-driven decisions.
- Which insulation of distribution transformer market will emerge as a major revenue generator for the market during the forecast period?
- How are key market players successfully earning revenue out of the advantages of distribution transformer?
- What will be the Y-o-Y growth of the distribution transformer market between 2020 and 2030?
- What are the winning imperatives of market frontrunners in the distribution transformer market?
- Which application is expected to have maximum potential for distribution transformer market during the foreseeing period?
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Research Methodology – Europe Distribution Transformer Market
The research methodology adopted by analysts for combining the distribution transformer market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the distribution transformer market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the distribution transformer market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the distribution transformer market.
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