The North America Distribution Transformer Market would witness market growth of 5.8% CAGR during the forecast period (2024-2031).
The US market dominated the North America Distribution Transformer Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7,984.8 million by 2031. The Canada market is experiencing a CAGR of 7.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 7.3% during (2024 - 2031).
The market is a cornerstone of the electrical infrastructure, serving as the vital link between power generation and end-users. These transformers are pivotal in transmitting electricity safely and efficiently from substations to residential, commercial, and industrial consumers. As countries grapple with the challenges of modernizing energy grids, ensuring reliability, and embracing sustainable practices, the market finds itself at the forefront of technological advancements and innovations.
Additionally, the adoption of these transformers continues to surge, propelled by rapid urbanization, industrialization, and electrification efforts. Developing regions, in particular, are witnessing exponential growth in demand for electricity, driving the installation of these transformers to expand and upgrade existing power infrastructure. Meanwhile, developed economies focus on enhancing grid resilience, integrating renewable energy sources, and implementing smart grid technologies, further stimulating demand for advanced transformers.
Canada has been experiencing a gradual increase in distributed solar installations, including residential, commercial, and community-based projects. These installations often require local distribution infrastructure, including these transformers, to connect solar arrays to the grid. As the number of distributed solar installations grows, so does the demand for these transformers at various voltage levels. As per the data published in 2023 by Statistics Canada, solar power fed the electricity grid in seven provinces and two territories in 2022. The province with the highest solar energy production in 2022 was Ontario (2.3 million MWh), followed by sunny Alberta (851,374 MWh) and Saskatchewan (30,097 MWh). Since 2017, the amount of solar electricity generated nationally has increased by over half (+55.7%) to 3.2 million MWh. Hence, the rising renewable energy sectors in North America will drive the demand for these transformers in the region.
Free Valuable Insights: The Distribution Transformer Market is Predict to reach USD 40.1 Billion by 2031, at a CAGR of 6.5%
Based on Insulation Type, the market is segmented into Immersed, and Dry. Based on End-Use Industry, the market is segmented into Industrial, Commercial, Power Utility, and Residential. Based on Product Type, the market is segmented into Pad Mounted, Pole Mounted, and Underground Vault. Based on Power Rating, the market is segmented into 2,501 kVA to 10,000 kVA, Upto 500 kVA, 501 kVA to 2,500 kVA, and More than 10,000 kVA. Based on Phase Type, the market is segmented into Three Phase, and Single Phase. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Insulation Type
By End-Use Industry
By Product Type
By Power Rating
By Phase Type
By Country
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