Sellbyville, DE -- (SBWIRE) -- 10/18/2018 -- Primarily augmented by the massive refurbishment of aging electric networks, distribution transformer market has lately been witnessing a slew of innovative tech advancements. The exponential demand for transformers has been observed to be directly proportional to the requirement for uninterrupted power supply across the globe.

As modern methodologies such as smart monitoring and control distribution units (CDUs) observes an exponential rise, so does the demand for transformers, which would eventually help propel distribution transformers industry share. Another noticeable factor witnessed across distribution transformer market is the exceptionally fierce competitive landscape. As the requirement for highly efficient and unique transformers is on the rise, companies have been striving to come up with a range of innovative products to score an edge over their competitors. In consequence, this is expected to create a profitable growth path for distribution transformer market in the years ahead.

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A vital instance testifying the authenticity of the aforementioned statement is Larson's all-new transformer. Recently, Larson Electronics LLC, a global leader in industrial lighting and equipment, has unveiled a single-phase explosion proof buck and boost step-up transformer that provides excellent efficiency, protection against equipment failure, increased reliability, and an isolated power source. Equipped with highly reliable characteristics, this NEMA 4X rated unit is expected to be ideal for flammable worksites and other hazardous applications, and as per experts, would have a massive influence on the product landscape of distribution transformer industry, which crossed a valuation of USD 18 billion in 2016.

Distribution transformer market, on account of its massive application spectrum and cutthroat competitive landscape, has witnessed numerous developments since recent times, and is expected to continue depicting similar trends in the years ahead. Below mentioned are three pivotal instances observed across distribution transformer industry this year – instances that may have a noticeable impact on the commercialization potential and popularity landscape of this business sphere.

In May 2017, two prominent South Korean firms, namely, the Hyundai Electric & Energy System and POSCO DAEWOO, had gained an order worth USD 44 million from the UK's National Grid. The deal would apparently supply 23 high-pressure transformers to the National Grid by 2020, which would allow both the firms to considerably strengthen their stance in distribution transformer market.

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CG Power and Industrial Solutions, one of the most eminent players of distribution transformer market, announced in June 2017, that it intends to sell its US business to WEG for a valuation of USD 37 million. The agreement is plausibly a part of CG's strategy to reduce its debt by selling some of its businesses overseas, post which it would focus exclusively on its core business. CG's motive behind the sale is likely to have a considerable impact on the revenue scale of India distribution transformer industry, given that the firm intends to completely concentrate on its base business operations across the Indian sub-continent.

Recently in 2017, The Kaduna Electric Distribution Plc was reported to have spent N100 million for installing a 7.5 MVA transformer at the Usman Danfodio University, Sokoto. Apparently, the project is a part of the firm's investment plans to make sure that the institution and the surrounding communities receive adequate power supply. While the investment may not have a massive impact on the revenue graph of distribution transformer market, it surely marks a significant step forward in this business space, given that providing uninterrupted power supply is a major driver for distribution transformer industry.

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The renovation and upgradation of grid networks can be majorly credited for distribution transformer market growth, given how extensively transformers are used in these refurbishment projects. Say for instance, The African Development Bank (AfDB) has recently approved a massive loan worth USD 83.64 million and a grant of USD 14.15 million from the African Development Fund (ADF) to the Federal Democratic Republic of Ethiopia, in order to partially fund the AATDRUP (Addis Ababa Transmission and Distribution System Rehabilitation and Upgrading Project).

The project is expected to be completed by the end of 2020 and would involve the replacement and installation of 582 distribution transformers among other works. The project, of a remarkably high magnitude, underlines how refurbishment projects have the ability to transform distribution transformer industry outlook. Furthermore, it is also prudent to mention that major companies partaking in distribution transformer market share have been attempting to bring forth a plethora of newer growth strategies to sustain their position in this business space. The robustly growing demand for electricity worldwide pertaining to the exponentially rising energy consumption, in tandem with the favorable inclination of regional governments toward micro-grid network expansions, are certain to fuel distribution transformer market size, slated to cross USD 30 billion by 2024.