Sellbyville, DE -- (SBWIRE) -- 02/25/2019 -- Rapid residential expansion coupled with favorable inclination towards the integration of a sustainable electrical network will drive the distribution transformer market. The industry is set to witness a comprehensive turnaround subject to volant expansion of distribution networks across the emerging markets. In addition, rising investments from financial institutions to sustain the demand and supply parity across the globe will further stimulate the product demand.

Advancing smart transformer technologies coupled with stringent energy efficiency compliances will comprehensively augment the global distribution transformer market. Volume manufacturing practices adopted by the leading manufacturers along with growing consumer awareness toward environmental security will encourage the product adoption. Escalating demand for the refurbishment of existing grid infrastructure across developed economies will further complement the industry outlook.

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Auto transformer is anticipated to witness growth over 6% by 2024. Effective voltage regulation & operational flexibility will boost the product penetration. Compact structure, improved efficiency, and cost-effective units when compared to the existing technologies will further escalate the industry growth. Diversified applications coupled with growing awareness towards energy efficiency across the globe positively influence the business landscape.

Growing demand for the upgradation of existing T&D networks coupled with rising space constraints will foster the indoor distribution transformer market. Blooming real estate sector across the developing electricity markets subject to the exponential rise in private & public fund flow will further augment the business outlook. In 2017, the European Union allocated funds worth USD 36.3 billion to ascertain a robust infrastructural expansion across Russia.

Residential & commercial distribution transformer market is set to witness appreciable growth in the years to come on account of rapid urbanization & growing electricity demand across the sectors. Increasing demand for refurbishment of traditional grid infrastructure along with upgradation of existing residential and commercial establishments across developed regions will further embellish the industry growth.

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The U.S. distribution transformer market is projected to witness an annual installation over 7,000 units by 2024. Rising demand for the upgradation and replacement of existing grid networks across the nation will boost the product demand. Adoption of effective grid support units coupled with ongoing technological advancements will further foster the business scenario. Rising infrastructural investments towards the expansion of existing rail networks will further complement the industry growth.

Eminent participants in the distribution transformer market include ABB, GE, Eaton, Siemens, Schneider Electric, Toshiba Corporation, Mitsubishi Electric, CELME Srl, SPX Transformer Solutions, Inc., Ormazabal, DAIHEN CORPORATION & Raychem RPG (P) Ltd.