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Sunday, 14 April 2024
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Europe Oil Filled Type Distribution Transformer Market is expected to reach US$ 2.77 billion by 2030

Europe Oil Filled Type Distribution Transformer Market is growing at a CAGR of 3.4% to reach US$ 2.77 billion by 2030 from US$ 2.11 billion in 2022 by Power Rating, Mounting, Phase, and Application.

By The Insight Partners

Rising Investment in Grid Infrastructure Boosts Europe Oil Filled Type Distribution Transformer Market Growth

According to our latest study on “Europe Oil Filled Type Distribution Transformer Market Forecast to 2030 – Market Size and Forecast (2020–2030), Country Share, Trend, and Growth Opportunity Analysis Report Coverage – by Power Rating, Mounting, Phase, and Application,” the Europe Oil Filled Type Distribution Transformer market size was valued at US$ 2.11 billion in 2022 and is expected to reach US$ 2.77 billion by 2030; it is estimated to record a CAGR of 3.4% from 2022 to 2030.

The rising demand in oil filled type distribution transformer market in Europe is closely tied to investments in upgrading the grid infrastructure and the ongoing transition to renewable energy sources. The International Energy Agency (IEA) reports that global investments in electricity grids reached US$ 309 billion in 2021, marking a notable 6% year-on-year increase. These investments primarily stemmed from advanced economies aiming to electrify various sectors, accommodate intermittent renewables, and promote sustainability. Europe faces the challenge of an aging grid infrastructure, with around one-third being approximately 40 years old. Given the scale of this task, digital technology is being harnessed to support existing grid equipment. This digitalization initiative is designed to prepare the grid infrastructure for integrating intermittent renewable energy sources and the expected surge in demand from adopting electric vehicles (EVs), heat pumps, and other sectors. Nearly US$ 600 billion is projected to be invested in the European grid infrastructure between 2020 and 2030, with a significant portion, ~US$ 200 billion, being explicitly allocated for digitalization efforts. This substantial investment will facilitate the modernization and optimization of the grid, ensuring its reliability and efficiency in meeting the growing electricity demand.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00035751

The increasing demand in oil filled type distribution transformer market aligns with these grid infrastructure investments. These transformers play a vital role in power distribution. They step down high voltage from transmission lines to lower voltage levels suitable for distribution to residential, commercial, and industrial consumers. Their reliability, efficiency, and ability to handle high electrical loads make them indispensable components of the grid infrastructure. Moreover, the increasing adoption of renewable energy sources such as solar and wind power drives the demand in oil filled type distribution transformer market. As the world shifts toward cleaner and green energy systems, these transformers are instrumental in stabilizing the voltage generated by renewable sources for efficient distribution across the grid, which is further boosting market growth.

Europe has been actively progressing the integration of renewable energy resources into its power generation mix. Oil-filled distribution transformers are crucial for linking renewable energy sources, such as solar and wind farms, to the grid. These transformers effectively increase the voltage generated by these sources for efficient transmission.

The Europe oil filled type distribution transformer market is segmented into power rating, mounting, phase, and application. Based on power rating, the market is segmented into below 500 kVA, 501 kVA–2,500 kVA, and above 2,500 kVA. By mounting, the market is segmented into pad-mounted and pole-mounted. In terms of the phase, the market is segmented into a single phase and three phases. Based on application, the market is segmented into residential and commercial, industrial, and utility.

CG Power & Industrial Solutions Ltd; Eaton Corp Plc; General Electric Co; Hitachi Ltd; Hyosung Heavy Industries; Imefy Sl; Ormazabal Electric SLU; Schneider Electric SE; Siemens AG; and SGB-SMIT GmbH are the key companies operating in the Europe oil filled type distribution transformer market. These key players are taking several measures to benefit from the opportunities in the emerging oil filled type distribution transformer market.

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