According to the research report titled ‘U.S. Oil Filled Distribution Transformer Market Size By Core (Closed, Shell, Berry), By Winding (Two Winding, Auto Transformer), By Phase (Three, Single), By Rating (≤ 250 kVA, > 250 kVA to ≤ 1 MVA, > 1 MVA), By Mounting (Pad, Pole), By Application (Residential & Commercial, Utility, Industrial), Industry Analysis Report, Country Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Size & Forecast, 2021 - 2027’, available with MarketStudyReport, a significant growth in U.S oil filled distribution transformer market is predicted to be observed by the end of 2027.
As per report findings, U.S. oil filled distribution transformer market is expected to be driven by rising R&D spending and growing integration of industrial automation across the sector.
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Benefits such as higher standard efficiency, longer lifespan and reduced operating noise level are also anticipated to continue strengthening the market demand over the projection period. Besides, industry players are exploring the use of bio-based oils in distribution transformers as they are eco-friendly, further boosting remuneration prospects.
For the uninitiated, an oil filled transformer is a voltage transformation device that utilizes oil cooling technique to reduce the transformer temperature. The body of an oil filled transformer, unlike dry type transformers, is deployed in a welded steel oil tank that is filled with insulation oil.
Based on core, the shell sub-segment represents substantial portion of revenue generated by oil-filled distribution transformers in the United States and is expected to grow at a robust rate over the assessed period.
Development of HVDC networks set to fulfil the constantly rising energy demand is expected to boost the segmental growth through 2027. Apart from this, closed and berry are the other sub-segments covered in the research piece.
Considering winding, the market is divided into two winding and auto transformer. The two winding sub-segment depicted major percentage of overall market revenue in 2020 and are anticipated to grow at a strong rate during the forecast period.
Based on application, the market has been fragmented into residential & commercial, industrial, and utility. Experts cite that utility segment is anticipated to grow considerably in the upcoming years, creditable to increasing R&D spending on grid infrastructure rehabilitation, as well as growing focus on grid network development.
Based on mounting, the industry is split into pole and pad mounted. Pad-mounted distribution lines have gained popularity in recent years due to its use in suburban regions where distribution lines are often buried below and installed on concrete pads for commercial, residential, or light industrial applications.
Speaking of the competitive landscape, Eaton Corporation plc, Hitachi ABB Power Grids, Schneider Electric SE, General Electric, Siemens AG, Toshiba Corporation, ERMCO Inc., Hyosung Heavy industries Corp., Northern Transformer Corp., L/C Magnetics Inc., DOS Canada, Inc., MGM Transformer Company, and American Electronic Components Inc. are the top competitors in U.S. oil filled distribution transformer market.