PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1462737
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1462737
Closed Core Distribution Transformer Market Forecasts to 2030 - Global Analysis By Installation (Indoor and Outdoor), Cooling (Dry Type and Oil Immersed), Phase, End User and By Geography
According to Stratistics MRC, the Global Closed Core Distribution Transformer Market is accounted for $10.3 billion in 2023 and is expected to reach $19.6 billion by 2030 growing at a CAGR of 9.7% during the forecast period. A closed-core distribution transformer is a type of electrical transformer used to step down voltage levels for distribution purposes in power grids. These transformers typically consist of primary and secondary coils wound around a laminated iron core. They are commonly used in various applications, such as residential, commercial, and industrial power distribution networks, to convert high-voltage electricity into lower voltages suitable for local consumption, ensuring reliable and safe electricity supply.
According to the Organization for Economic Co-operation and Development (OECD), surge in the price of crude oil began during the lockdown, due to extensive supply and less demand which increased the production of electricity.
Market Dynamics:
Driver:
Growing electricity demand
As populations expand, urbanization accelerates, and industrialization progresses, the demand for electricity continues to rise globally. Closed-core distribution transformers play a crucial role in meeting this growing electricity demand by facilitating the efficient transmission and distribution of power across utility grids. These transformers step down high-voltage electricity from transmission lines to lower voltages suitable for distribution to homes, businesses, and industrial facilities. Overall, growing electricity demand is a significant factor in accelerating market demand.
Restraint:
High initial investment
The initial investment encompasses various components, including the cost of purchasing the transformer itself, installation expenses, infrastructure upgrades, and associated ancillary equipment. Additionally, factors such as transportation, site preparation, and commissioning further contribute to the overall cost burden. This high initial cost poses a barrier to adoption, particularly for smaller utilities, developing economies, or regions with limited budgets. Therefore, a high initial investment is a significant factor limiting market expansion.
Opportunity:
Technological advancements
Technological advancements, such as smart grid solutions, digital monitoring systems, and energy-efficient transformer designs, are driving the demand for core distribution transformers. Advanced insulation materials, such as nano composites and environmentally friendly dielectric fluids, improve the efficiency and reliability of transformers while reducing their environmental impact. Moreover, advancements in core materials and manufacturing processes contribute to higher energy efficiency and reduced losses in closed-core distribution transformers.
Threat:
Environmental concerns
Traditional closed-core distribution transformers often utilize mineral oil as a dielectric fluid for insulation and cooling. However, the use of mineral oil raises environmental concerns due to the potential for oil leaks, spills, and contamination of soil and water sources. Furthermore, heightened awareness of climate change and the need to transition towards cleaner and more sustainable energy solutions have put pressure on industries to reduce their carbon footprint. As a result, environmental concerns pose a significant restraint in the closed-core distribution transformer market, hindering market demand.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the closed core distribution transformer market. With reduced economic activity during the pandemic, particularly in industries like construction and infrastructure development, the demand for distribution transformers declined. Additionally, the closure of borders and trade restrictions further exacerbated supply chain challenges, affecting the availability of raw materials and components necessary for transformer production.
The oil immersed segment is expected to be the largest during the forecast period
The oil immersed segment is estimated to hold the largest share. Oil-immersed transformers play a significant role in efficiently transmitting electricity across various voltage levels in power distribution networks. Oil-immersed transformers utilize a liquid dielectric, usually mineral oil, to insulate the windings and dissipate heat generated during operation. Moreover, this oil serves multiple purposes, including providing electrical insulation, cooling the transformer, and protecting the core and windings from environmental contaminants and moisture. Oil-immersed transformers remain a preferred choice for many utility companies and industries seeking dependable and cost-effective solutions for their power distribution needs.
The three segment is expected to have the highest CAGR during the forecast period
The three segment is anticipated to have lucrative growth during the forecast period. Three-phase transformers play a pivotal role in efficiently distributing electrical power across industrial, commercial, and residential settings. These transformers are designed to handle three-phase electrical systems, which are commonly used for high-power applications due to their efficiency and balanced power distribution. Furthermore, three-phase transformers are preferred in large-scale power distribution networks due to their compact design and high power-handling capacity.
Region with largest share:
North America commanded the largest market share during the extrapolated period owing to urbanization, industrialization, and the need to upgrade aging power distribution systems. Additionally, investments in smart grid technologies and grid modernization projects have spurred the adoption of advanced distribution transformers equipped with features such as remote monitoring and diagnostic capabilities, enhancing grid reliability and performance.
Region with highest CAGR:
Asia Pacific is expected to witness profitable growth over the projection period, due to industrialization, and infrastructure development. The region's transition towards renewable energy sources and the integration of smart grid technologies are also fueling demand for closed-core distribution transformers. Additionally, governments across the region are implementing policies and initiatives to promote energy efficiency and reduce carbon emissions, driving the adoption of advanced transformer technologies.
Key players in the market
Some of the key players in the Closed Core Distribution Transformer Market include ABB, Eaton Corporation, Bharat Heavy Electricals Limited, CG Power & Industrial Solutions Ltd., Elsewedy Electric, Celme S.r.l., EMCO Limited, General Electric, HYOSUNG HEAVY INDUSTRIES, Hitachi Energy Ltd., ERMCO, Mitsubishi Electric Corporation, IMEFY GROUP, Schneider Electric, ORMAZABAL, Siemens, Voltamp and Toshiba Energy Systems & Solutions Corporation.
Key Developments:
In December 2023, Toshiba Energy Systems & Solutions Corporation and Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced a master collaboration agreement to jointly pursue carbon capture projects.
In November 2023, Mitsubishi Electric Corporation announced that it has agreed to strategically partner with and invest in Module Works GmbH, a leading software component provider for the digital manufacturing industry.
In April 2023, Mitsubishi Electric India CNC has announced partnership with SolidCAM, a global leader in innovative CAM software for CNC machines and distribution of related digital manufacturing solutions.
Installations Covered:
- Indoor
- Outdoor
Cooling Covered:
- Dry Type
- Oil Immersed
Phases Covered:
- Single
- Three
End Users Covered:
- Residential
- Commercial
- Industrial
- Utility
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 End User Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Closed Core Distribution Transformer Market, By Installation
- 5.1 Introduction
- 5.2 Indoor
- 5.3 Outdoor
6 Global Closed Core Distribution Transformer Market, By Cooling
- 6.1 Introduction
- 6.2 Dry Type
- 6.3 Oil Immersed
7 Global Closed Core Distribution Transformer Market, By Phase
- 7.1 Introduction
- 7.2 Single
- 7.3 Three
8 Global Closed Core Distribution Transformer Market, By End User
- 8.1 Introduction
- 8.2 Residential
- 8.3 Commercial
- 8.4 Industrial
- 8.5 Utility
9 Global Closed Core Distribution Transformer Market, By Geography
- 9.1 Introduction
- 9.2 North America
- 9.2.1 US
- 9.2.2 Canada
- 9.2.3 Mexico
- 9.3 Europe
- 9.3.1 Germany
- 9.3.2 UK
- 9.3.3 Italy
- 9.3.4 France
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 Japan
- 9.4.2 China
- 9.4.3 India
- 9.4.4 Australia
- 9.4.5 New Zealand
- 9.4.6 South Korea
- 9.4.7 Rest of Asia Pacific
- 9.5 South America
- 9.5.1 Argentina
- 9.5.2 Brazil
- 9.5.3 Chile
- 9.5.4 Rest of South America
- 9.6 Middle East & Africa
- 9.6.1 Saudi Arabia
- 9.6.2 UAE
- 9.6.3 Qatar
- 9.6.4 South Africa
- 9.6.5 Rest of Middle East & Africa
10 Key Developments
- 10.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 10.2 Acquisitions & Mergers
- 10.3 New Product Launch
- 10.4 Expansions
- 10.5 Other Key Strategies
11 Company Profiling
- 11.1 ABB
- 11.2 Eaton Corporation
- 11.3 Bharat Heavy Electricals Limited
- 11.4 CG Power & Industrial Solutions Ltd.
- 11.5 Elsewedy Electric
- 11.6 Celme S.r.l.
- 11.7 EMCO Limited
- 11.8 General Electric
- 11.9 HYOSUNG HEAVY INDUSTRIES
- 11.10 Hitachi Energy Ltd.
- 11.11 ERMCO
- 11.12 Mitsubishi Electric Corporation
- 11.13 IMEFY GROUP
- 11.14 Schneider Electric
- 11.15 ORMAZABAL
- 11.16 Siemens
- 11.17 Voltamp
- 11.18 Toshiba Energy Systems & Solutions Corporation
List of Tables
- Table 1 Global Closed Core Distribution Transformer Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Closed Core Distribution Transformer Market Outlook, By Installation (2021-2030) ($MN)
- Table 3 Global Closed Core Distribution Transformer Market Outlook, By Indoor (2021-2030) ($MN)
- Table 4 Global Closed Core Distribution Transformer Market Outlook, By Outdoor (2021-2030) ($MN)
- Table 5 Global Closed Core Distribution Transformer Market Outlook, By Cooling (2021-2030) ($MN)
- Table 6 Global Closed Core Distribution Transformer Market Outlook, By Dry Type (2021-2030) ($MN)
- Table 7 Global Closed Core Distribution Transformer Market Outlook, By Oil Immersed (2021-2030) ($MN)
- Table 8 Global Closed Core Distribution Transformer Market Outlook, By Phase (2021-2030) ($MN)
- Table 9 Global Closed Core Distribution Transformer Market Outlook, By Single (2021-2030) ($MN)
- Table 10 Global Closed Core Distribution Transformer Market Outlook, By Three (2021-2030) ($MN)
- Table 11 Global Closed Core Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
- Table 12 Global Closed Core Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
- Table 13 Global Closed Core Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 14 Global Closed Core Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 15 Global Closed Core Distribution Transformer Market Outlook, By Utility (2021-2030) ($MN)
- Table 16 North America Closed Core Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
- Table 17 North America Closed Core Distribution Transformer Market Outlook, By Installation (2021-2030) ($MN)
- Table 18 North America Closed Core Distribution Transformer Market Outlook, By Indoor (2021-2030) ($MN)
- Table 19 North America Closed Core Distribution Transformer Market Outlook, By Outdoor (2021-2030) ($MN)
- Table 20 North America Closed Core Distribution Transformer Market Outlook, By Cooling (2021-2030) ($MN)
- Table 21 North America Closed Core Distribution Transformer Market Outlook, By Dry Type (2021-2030) ($MN)
- Table 22 North America Closed Core Distribution Transformer Market Outlook, By Oil Immersed (2021-2030) ($MN)
- Table 23 North America Closed Core Distribution Transformer Market Outlook, By Phase (2021-2030) ($MN)
- Table 24 North America Closed Core Distribution Transformer Market Outlook, By Single (2021-2030) ($MN)
- Table 25 North America Closed Core Distribution Transformer Market Outlook, By Three (2021-2030) ($MN)
- Table 26 North America Closed Core Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
- Table 27 North America Closed Core Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
- Table 28 North America Closed Core Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 29 North America Closed Core Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 30 North America Closed Core Distribution Transformer Market Outlook, By Utility (2021-2030) ($MN)
- Table 31 Europe Closed Core Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
- Table 32 Europe Closed Core Distribution Transformer Market Outlook, By Installation (2021-2030) ($MN)
- Table 33 Europe Closed Core Distribution Transformer Market Outlook, By Indoor (2021-2030) ($MN)
- Table 34 Europe Closed Core Distribution Transformer Market Outlook, By Outdoor (2021-2030) ($MN)
- Table 35 Europe Closed Core Distribution Transformer Market Outlook, By Cooling (2021-2030) ($MN)
- Table 36 Europe Closed Core Distribution Transformer Market Outlook, By Dry Type (2021-2030) ($MN)
- Table 37 Europe Closed Core Distribution Transformer Market Outlook, By Oil Immersed (2021-2030) ($MN)
- Table 38 Europe Closed Core Distribution Transformer Market Outlook, By Phase (2021-2030) ($MN)
- Table 39 Europe Closed Core Distribution Transformer Market Outlook, By Single (2021-2030) ($MN)
- Table 40 Europe Closed Core Distribution Transformer Market Outlook, By Three (2021-2030) ($MN)
- Table 41 Europe Closed Core Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
- Table 42 Europe Closed Core Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
- Table 43 Europe Closed Core Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 44 Europe Closed Core Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 45 Europe Closed Core Distribution Transformer Market Outlook, By Utility (2021-2030) ($MN)
- Table 46 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
- Table 47 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Installation (2021-2030) ($MN)
- Table 48 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Indoor (2021-2030) ($MN)
- Table 49 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Outdoor (2021-2030) ($MN)
- Table 50 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Cooling (2021-2030) ($MN)
- Table 51 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Dry Type (2021-2030) ($MN)
- Table 52 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Oil Immersed (2021-2030) ($MN)
- Table 53 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Phase (2021-2030) ($MN)
- Table 54 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Single (2021-2030) ($MN)
- Table 55 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Three (2021-2030) ($MN)
- Table 56 Asia Pacific Closed Core Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
- Table 57 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
- Table 58 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 59 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 60 Asia Pacific Closed Core Distribution Transformer Market Outlook, By Utility (2021-2030) ($MN)
- Table 61 South America Closed Core Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
- Table 62 South America Closed Core Distribution Transformer Market Outlook, By Installation (2021-2030) ($MN)
- Table 63 South America Closed Core Distribution Transformer Market Outlook, By Indoor (2021-2030) ($MN)
- Table 64 South America Closed Core Distribution Transformer Market Outlook, By Outdoor (2021-2030) ($MN)
- Table 65 South America Closed Core Distribution Transformer Market Outlook, By Cooling (2021-2030) ($MN)
- Table 66 South America Closed Core Distribution Transformer Market Outlook, By Dry Type (2021-2030) ($MN)
- Table 67 South America Closed Core Distribution Transformer Market Outlook, By Oil Immersed (2021-2030) ($MN)
- Table 68 South America Closed Core Distribution Transformer Market Outlook, By Phase (2021-2030) ($MN)
- Table 69 South America Closed Core Distribution Transformer Market Outlook, By Single (2021-2030) ($MN)
- Table 70 South America Closed Core Distribution Transformer Market Outlook, By Three (2021-2030) ($MN)
- Table 71 South America Closed Core Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
- Table 72 South America Closed Core Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
- Table 73 South America Closed Core Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 74 South America Closed Core Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 75 South America Closed Core Distribution Transformer Market Outlook, By Utility (2021-2030) ($MN)
- Table 76 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Country (2021-2030) ($MN)
- Table 77 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Installation (2021-2030) ($MN)
- Table 78 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Indoor (2021-2030) ($MN)
- Table 79 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Outdoor (2021-2030) ($MN)
- Table 80 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Cooling (2021-2030) ($MN)
- Table 81 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Dry Type (2021-2030) ($MN)
- Table 82 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Oil Immersed (2021-2030) ($MN)
- Table 83 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Phase (2021-2030) ($MN)
- Table 84 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Single (2021-2030) ($MN)
- Table 85 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Three (2021-2030) ($MN)
- Table 86 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By End User (2021-2030) ($MN)
- Table 87 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Residential (2021-2030) ($MN)
- Table 88 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Commercial (2021-2030) ($MN)
- Table 89 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Industrial (2021-2030) ($MN)
- Table 90 Middle East & Africa Closed Core Distribution Transformer Market Outlook, By Utility (2021-2030) ($MN)
