Distribution Transformer Market

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Distribution Transformer Market Trends,
Statistics Growth Forecast 2022- 2030
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Industry Overview

• An incredible rise in the energy consumption and
  distribution worldwide subject to the increasing
  population is projected to pave way for different
  transmission and distribution networks in the due
  course of time. The world currently consumes more
  than 580 million terajoules of energy.
• As per IEAs annual projections, with the global
  population rising from 8 billion in 2020 to 8.5
  billion in 2030, the energy demand is anticipated
  to surge by 27 through the same year. These
  estimations support the augmented demand for TD
  infrastructure, stimulating the need for
  distribution transformers over 2022-2030.
• A latest study by Global Market Insights Inc.
  demonstrated that the overall distribution
  transformers market accounted for a valuation of
  USD 24.5 billion in 2021. A rise in the
  government initiatives that ensure proper power
  transmission nationwide would offer positive
  impetus to the market growth.
• Speaking on similar lines, Government of India
  announced taking up significant steps to bolster
  the power distribution network with the launch of
  initiatives like UDAY, that will allow financial
  turnaround of power distribution firms in the
  country.

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• Different leaders operating in the power
  distribution industry like Hitachi Energy,
  General Electric, Mitsubishi Electric
  Corporation, ABB, Toshiba, and others, are
  expanding their business valuations with
  introduction to new strategies and innovations,
  stimulating the demand for distribution
  transformers.
• In 2022, Hitachi Energy announced its plans to
  invest more than USD 10 million in the
  modernization and expansion of its distribution
  transformer unit in Missouri. As per officials,
  the capital would offer additional capacity and
  augment its production capabilities and highlight
  the robust growth in demand from utilities and
  other newer applications.
• The distribution transformer market size from
  shell core type segment is projected to expand at
  an appreciable rate over the foreseeable time
  frame. The progression can be reasoned to ample
  advantages associated with its deployment
  including-
• Superior dielectric and mechanical strength
• Excellent short circuit strength
• Flexible design

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Distribution Transformer Market

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