Australia Power and Distribution Transformers Mark
Australia Power and Distribution Transformers Market Size Set to Grow at Steady CAGR of 5.43% to Reach USD 728.28 Million by 2029
Published | 16 June 2023
Australia power and distribution transformers market is rapidly growing due to increasing urbanization and infrastructure development, government initiatives to promote renewable energy sources, rising electricity consumption, and ongoing investments in transmission and distribution networks.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Australia power and distribution transformers market size at USD 506.70 million in 2022. During the forecast period between 2023 and 2029, Australia power and distribution transformers market size is to grow at a robust CAGR of 5.43% reaching a value of USD 728.28 million by 2029. Major factor fueling the expansion of the Australia power and distribution transformers market is the country's expanding reliance on renewable energy sources like solar and wind energy, which has led to the construction of new power-producing facilities all over the place. Transformer demand has increased as a result of the increased need for effective power transmission and distribution networks. Also, there is a greater emphasis on modernizing the grid and updating aging infrastructure, which has led to the replacement of out-of-date transformers with more modern and effective versions. Transformer demand in Australia is rising as a result of the rise of electric vehicles and the expansion of industrial sectors. Overall, the market is moving towards more reliable grids and sustainable energy sources.
Australia Power and Distribution Transformers Market – Overview
Electrical equipment called power and distribution transformers are used to move electrical energy from one circuit to another, usually at various voltage levels. To step up or step down voltages for effective transmission and distribution over long distances, power transformers are generally used in power-producing plants and substations. They can sustain high voltage levels and can manage high power levels. The delivery of electrical energy to end consumers at lower voltage levels, often in residential, commercial, and industrial settings, is accomplished by distribution transformers. By controlling voltage and minimizing electrical losses during distribution, they play a critical part in preserving a secure and dependable electricity supply.
Impact of COVID-19 on Australia Power and Distribution Transformers Market
The COVID-19 pandemic significantly impacted the Australia power and distribution transformers market. The strict lockdown measures and disruptions in economic activities led to a decline in overall electricity demand, affecting the installation and replacement of transformers. Construction projects and infrastructure development were delayed or put on hold, resulting in reduced demand for transformers. Supply chain disruptions and logistical challenges also affected the availability of raw materials and components, leading to manufacturing delays. However, with the gradual recovery and easing of restrictions, the market is expected to bounce back as investments in renewable energy and infrastructure projects resume, driving the demand for power and distribution transformers in Australia.
Australia Power and Distribution Transformers Market – By Rating
On the basis of rating, Australia power and distribution transformers market is divided into 650 kVA, 651-2500 k, and Above 2500 kVA segments. The Above 2500 kVA segment is the largest contributor to the Australia power and distribution transformers market. This segment includes transformers with power capacities exceeding 2500 kilovolt-amperes. These high-capacity transformers are commonly used in large-scale industrial applications, power generation plants, and extensive electrical distribution networks. The "Above 2500 kVA" segment signifies the demand for robust power infrastructure in Australia to support industrial growth and meet the energy requirements of a progressively electrified society.
Australia power and distribution transformers market is fiercely competitive. Major companies in the market include Wilson Transformer Company, Eaton Industries Pty Ltd, AEM Transformers, TMC Transformers, Power Partners, Ampcontrol, Delta Transformers, Tamini Transformers, Schneider Electric Australia, and Siemens Australia. Companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Australia power and distribution transformers market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Australia Power and Distribution Transformers Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Australia Power and Distribution Transformers Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
- Australia Power and Distribution Transformers Market - By Type (Power Transformer, Distribution Transformer); By Rating (650 kVA, 651-2500 k, Above 2500 kVA); By Cooling System (Dry Type, Liquid Type); By Application (Power Utilities, Industrial), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: June 2023
Increasing investments in renewable energy projects, upgrading aging infrastructure, government initiatives promoting energy efficiency, and rising demand for electricity in residential, commercial, and industrial sectors are propelling the growth of the Australia Power and Distribution Transformers Market during the forecast period between 2023 and 2029.
Relevant Press Releases
- Global Solar-powered EV Charging Stations Market Size Set to Grow at CAGR of 7% Touching USD 366 Million by 2029
- India Solar Canopy Carport Market Size Set Expands at Significant CAGR of 7.67% During 2024–2030 to Reach USD 389.02 Million by 2030
- Global Portable Power Station Market Growing Steadily: Projected to reach USD 554.4 Million by 2028
- Global Centrifugal Pump Market Size Set to Touch USD 54.5 Billion by 2029
- Global High Voltage Cables and Accessories Market Size Set to Grow at Steady CAGR of 5.46%, Reaching USD 52.87 Billion by 2029