(MENAFN- America News Hour) “The report on
Europe Distribution Transformer Market
was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter's five forces.
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Distribution Transformer Market: Overview
Distribution transformer provides the final voltage transformation in an electric distribution system. Distribution transformer reduces the voltage used in distribution lines. Distribution transformer also distributes power to remote areas. Distribution transformer is available in various sizes and efficiencies depending on the installation site and needs.
Expansion of Renewable Power Generation Capacity across Europe to Drive Europe Distribution Transformer Market
The European Union has been dominating the global renewable energy sector since more than two decades. The adoption of long-term targets and supportive government policies & measures have boosted renewable energy consumption across the region. Renewable energy consumption in the European Union stood at
9%
in
2005 . It is expected to reach
20%
by the end of
2020. Renewable energy generation capacity in Europe stood at
1,029 T W in 2019. Hydropower accounted for major share with installed capacity of
425.8
TW in
2019 . Wind and solar energy held the remaining share, with installed capacities of
272.7
TW and
113.5
GW, respectively. Renewable energy from bioenergy constituted 92.6 TW, while other renewable sources stood at
124.4
TW in
2019. Growth in power generation from renewable energy is creating opportunities for the distribution transformer market in Europe. Renewable projects are off-grid; therefore, they need transformers for transmission and distribution of electricity. Distribution transformer is vital part of power distribution. Distribution transformer supplies electricity from the substation to consumers.
Stringent Manufacturing Standards to Hamper Europe Distribution Transformer Market
The European Union has implemented stringent rules and regulations related to environmental safety and carbon emission. Governments of countries in the European Union have formulated highly stringent regulations regarding manufacturing standards. As per the European Union Directive
2009/ 2B/Ec of the European Parliament and of the council of
April 23, 2009,
all European countries agreed on lowering greenhouse gases and carbon emission by
2030. The European Environment Agency has introduced new measures for the power industry in Europe. These new measures set a range of emission limits that member states must use for emission permits issued to power plant operators by
2021.
According to the European Environment Agency, implementing the upper emission limits of the new requirements would result in emission cuts of
66%
for sulfur dioxide (SO2),
56%
for particulate matter, and
51%
for nitrogen oxide (NOx) by
2030
compared to the
2016
emissions. The agency also provided norms for
2050
gas emission targets, which would result in more substantial emission reductions of
91%
for SO2,
82%
for particulate matter, and
79%
for NOx. Governments have introduced stringent standardization norms to encourage quality manufacturing in the sector, particular in the distribution transformer segment. Germany and the U.K. have enacted stringent quality norms in the power sector. This is anticipated to restrain the number of new manufacturers entering the market. Thus, implementation of stringent manufacturing standards is estimated to hamper the distribution transformer market in Europe in the near future.
Digitization of Substations to Offer Growth Opportunities for Europe Distribution Transformer Market
Countries in Europe implemented the IEC 61850 standards to modernize its substations. IEC 61850 is acknowledged as the global communications standard that enables increased control, monitoring, and automation within electrical power systems. Substations act as hubs in the electric transmission network. Within these substations, protection and control systems control the flow of power. Reliable protection and control systems are essential to ensure a dependable and secure power system, while minimizing equipment damage and loss of energy supply as well as maintaining public safety. IEC 61850 enables automated substation operations, which creates an efficient transmission network that can respond during real time variations. IEC 61850 and digital substations are likely to benefit customers with long-term cost savings, future system flexibility, and increased safety. Digitization of substations has gained momentum in Europe over the last few years. This can be ascribed to the implementation of artificial intelligence and Internet of Things-based systems in the power sector in the region. Countries in Europe are planning to spend more than
US$ 20 Bn
on digitization of substations in the next five to 10 years. Along with digitization of substations, countries are upgrading their smart metering networks. They are also planning to upgrade the electricity cable network. This is projected to provide better connectivity and safety to consumers. Usage of electric vehicles in the region is also expected to rise in the near future. This, in turn, would lead to growth in the number of charging stations, thereby augmenting the demand for distribution transformers. This is estimated to boost the distribution transformer market in Europe in the next few years.
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Europe Distribution Transformer Market: Key Developments
In
May 2018 , Toshiba International Corporation announced the addition of HECO, Inc. to its nationwide network of distributors. HECO offers the full range of Toshiba electric motors. In
March 2018,
Toshiba International Corporation announced that it won the Manufacturing Leadership Award for its outstanding achievement in Advanced Enterprise Software Deployment
Rest of Europe to Dominate Europe Distribution Transformer Market
Rest of Europe held a significant share of the distribution transformer market in Europe in
2019.
The region is anticipated to maintain its dominance during the forecast period. This can be ascribed to increase in electricity consumption due to industrialization and urbanization. Rest of Europe includes countries such as Germany, France, Italy, and Russia & CIS. These are leading countries in terms of production of electricity in the region. The demand for distribution transformers is expected to rise in these countries in the near future. The U.K. and Spain are also key countries of the distribution transformer market in Europe, led by rise in investments in conventional as well as renewable energy sources in these countries. Aging grid system is one of the key drivers of the distribution transformer market in the U.K. and Spain.
Europe Distribution Transformer Market: Competition Landscape
The distribution transformer market in Europe is highly consolidated, with the presence of a few number of players operating at regional and international levels Key players operating in the distribution transformer market in Europe are Siemens AG General Electric Schneider Electric ABB Ltd Kirloskar Electric Ltd Toshiba International Corporation Crompton Greaves Ltd Eaton Corporation
Europe Distribution Transformer Market – Scope of the Report
The latest study collated and published analyzes the historical and present-day scenario of the distribution transformer market in Europe to accurately gauge its potential development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the distribution transformer market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the distribution transformer market will progress during the forecast period of 2022-2031.
The report offers intricate dynamics about the different aspects of the distribution transformer market that aid companies operating in the market in making strategic development decisions. The study also elaborates on the significant changes that are highly anticipated to configure the growth of the distribution transformer market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the distribution transformer market, and estimate statistics related to the market progress in terms of value (US$ Mn).
This study covers a detailed segmentation of the distribution transformer market, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the distribution transformer market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
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