The new report by Expert Market Research titled, ‘Global Pad Mounted Transformer Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global pad mounted transformer market share, assessing the market based on its segments like types, phases, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 3.87%
The market for pad mounted transformers is being aided by the increasing demand for emergency utility backup in the healthcare sector. As various electronic medical devices are increasingly used in the healthcare sector, pad mounted transformers are deployed to provide reliable and uninterrupted power supply, hence propelling the market growth. The growing demand for pad mounted transformers in outdoor applications owing to their compatibility with rough and concrete surfaces is positively impacting the growth of the market. Moreover, pad mounted transformers have tamper-proof tanks and cabinets, which eliminates the requirement for protective vaults. This, in turn, is increasing their cost-effectiveness and fuelling the market growth.
Industry Definition and Major Segments
A pad mounted transformer, variously known as pad mount, is a transformer that is mounted on the ground. It is locked in a steel cabinet and is made in power, typically from 15 to about 5000 kVA. It lowers high voltage to standard household voltage for providing optimal power to electronics, lighting, and appliances.
The market, based on types, are:
- Oil-filled
- Dry Type
Based on phases, the market is bifurcated into:
- Single-Phase
- Three-Phase
The regional markets of pad mounted transformers are:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The growth of the market is being propelled by the growing deployment of oil-filled pad mounted transformers owing to their enhanced reliability, high-efficiency, and cost-effectiveness. The increasing use of oil-filled pad mounted transformers for utility requirements in commercial and industrial applications is bolstering the industry growth. In addition, natural ester fluids are increasingly utilised as an energy source in oil-filled pad mounted transformers owing to their sustainability and biodegradability. This is increasing the use of oil-filled pad mounted transformers for sustainable operations, which is expected to drive the market growth. As pad mounted transformers provide safe and secure power, they are extensively utilised in public spaces, which is anticipated to augment the market growth in upcoming years.
Key Market Players
The major players in the market are ABB Ltd., Eaton Corporation PLC, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG, and Toshiba Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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