United States Distribution Transformer Market Revenues to Reach USD 4.62 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, Aug. 08, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "United States Distribution Transformer Market Report (2023-2028)," the market is estimated at USD 3.84 billion in 2023. It is expected to register a CAGR of 3.75% during the forecast period.

Distribution transformers step down the voltage at substations to provide electricity to customers. They play a crucial role in the final voltage transformation within the electrical grid. Modernization of the transmission and distribution grid is expected to drive the growth of the market in the coming years. The commercialization of solid-state distribution transformers is anticipated to create promising opportunities for the global residential battery market, despite the challenges from rising distributed energy generation.

Report Summary:

Who are the Top Companies in the United States Distribution Transformer Market?

The market is fragmented. The significant players in the US distribution transformer market are,

• Siemens AG
• Kirloskar Electric Company Ltd.
• General Electric Company
• Hyundai Electric & Energy Systems Co. Ltd
• Schneider Electric SE
• Southwest Electric Co.
• Hitachi Ltd
• Emerson Electric Co.
• Eaton Corporation PLC
• Toshiba Corp.

Other Reports That Might Be of Your Interest:

• United States Transformer Market Report - The US transformer market is expected to register a CAGR of more than 3% over the next five years.
• United States Power Transformer Market Report - The US power transformer market is expected to register a CAGR of more than 1% over the next five years.

Key Highlights from the United States Distribution Transformer Market Report:

High Voltage Segment Leading the Market

• High-voltage distribution transformers play a crucial role at the beginning and end of the electrical grid, converting high voltage to low voltage for various uses. They enable the distribution of electricity to industries, infrastructure, and residential areas.
• These transformers are essential for integrating decentralized generated electricity from renewable sources into the grid.
• Solar power generation in the United States has significantly increased, aiding the high-voltage distribution transformer market. Small-scale distributed solar generation has also grown.
• Several large-scale solar projects are under construction and development in the United States.

Increasing Investments and Efforts to Modernize Grids

• The United States is the second-largest energy consumer globally, with a significant transmission and distribution (T&D) network. Last year, the country generated around 4,243 TWh of electricity, accounting for 19% of global generation.
• The US grid infrastructure is aging, hindering renewable energy integration and electric vehicle charging. Smart systems and technology-enabled distribution transformers are needed to enhance reliability and accommodate modern energy needs.
• The US Government initiated the Building a Better Grid Initiative under the Department of Energy (DOE) in 2021 to modernize the grid. The program supports T&D projects and aims to secure rights-of-way for transmission lines.
• Investments from private and public sectors are driving the transformation of the T&D network. These investments are expected to improve grid infrastructure and contribute to the demand for distribution transformers in the coming years.

What are the Latest Developments in the United States Distribution Transformer Market?

• In May 2022, Hitachi Energy revealed plans to invest more than USD 10 million to expand and improve its distribution transformer facility in Jefferson City, Missouri. 
• In April 2022, Siemens Energy launched an innovative dry-type single-phase transformer for pole applications. 
  
  

Mordor Intelligence has Segmented the United States Distribution Transformer Market Based on Power Rating, Type, Phase, and Type of Mounting.

• By Power Rating (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • Small
  • Large
  • Medium
• By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • Oil-filled
  • Dry-type
• By Phase (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • Single Phase
  • Triple Phase
    
    
• By Type of Mounting (Market Size and Forecast based on Value (USD billion), 2018-2028)
  • Pole-mounted
  • Pad-mounted

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the United States Distribution Transformer Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

• Asia-Pacific Transformer Market Report - The Asia-Pacific transformer market is expected to register a CAGR of more than 4.5% over the next five years.
• Distribution Transformer Market Report - The global distribution transformer market size is expected to grow from USD 25.60 billion in 2023 to USD 34.18 billion by 2028, at a CAGR of 5.95% during the forecast period (2023-2028).
• Transformer Market Report - The global transformers market is expected to register a CAGR of more than 6.5% over the next five years.

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.

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• US Distribution Transformer Market - Mordor Intelligence