China & Japan - Fueling the consumption of distribution transformers

According to Global Trade, the global distribution transformers market is expected to reach USD 26.1 billion in 2022, with a steady CAGR of 6% from 2023 to 2033. The increasing demand for electricity in emerging countries like China and India is driving investments in power transmission and distribution infrastructure, subsequently augmenting the consumption of distribution transformers.

Global Trade has announced that the use of oil-filled distribution transformers is anticipated to rule the market due to their dependability, efficiency, and longer service lifetimes. The Asia-Pacific region is projected to witness the highest growth over the forecast period due to large-scale manufacturing in China and Japan, coupled with substantial investments in new technologies.

The Europe market growth outlook is positive due to increasing electricity demand and technology upgradation, with investments in smart grid technologies projected to positively influence growth in demand.

Source: Global Trade