The growth of the pad-mounted transformer market has been influenced by various stakeholders such as pad-mounted transformer manufacturers, component manufacturers, raw material suppliers, regulatory authorities, and government and research associations, environment research institutes, and investment banks.
The growth of the pad-mounted transformer market is led by many domestic and international manufacturers of pad-mounted transformers, component manufacturers, and raw material providers. Manufacturers share an intense rivalry for the market share in each region. The companies not only have to compete with international players, but they also have to tackle the domestic manufacturers present in each region.
Huge investments are planned for the expansion and upgradation of power transmission & distribution networks across all regions. This coupled with the increasing consumption of power in developing countries is a major driving factor for the growth of the pad-mounted transformer market in the future. In Asia Pacific, countries have come up with new policies for the growth of industries and rural electrification. Industrial growth in the Asia Pacific will account for more 40% of its total electricity consumption. This will further add on to the demand for power transmission and distribution products boosting its growth.
Leading companies in the pad-mounted transformer market focused on contracts, and expansions to increase their market share and capture new markets. Both the strategies were equally followed by major industry players as their growth strategy.
Pad-mounted transformer manufacturers are competing to win contracts related to transmission and distribution in several regions to expand their business. Moreover, few companies are launching new software and services which will improve the efficiency, enhance management, and provide early detection of faults thereby creating a competitive edge over other manufacturers.
The pad-mounted transformer market was dominated by Schneider Electric (France), ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Co. Plc. (Ireland), and GE (U.S.) in 2014. These market players have also been active in the competitive developments of the pad-mounted transformer market. Other players includes Crompton Greaves Ltd. (India), ERMCO (U.S.), Federal Pacific (U.S.), Hitachi Ltd. (Japan), Moloney Electric Inc. (Canada), Olsun Electrics (U.S.), Pacific Crest Transformers (U.S.), Pearl Electric Co. Ltd. (China), Vantran Industries Inc. (U.S.), and Wenzhou Rockwell Transformers Co. (China). With the environment optimum for mergers & acquisitions, major pad-mounted transformer manufacturers such as ABB Ltd. and Eaton Co. Plc. have embarked on acquiring competitors.
The key market players were Siemens and GE who lead the market in contracts & agreements and new product/service/technologies launch respectively. Siemens bagged most number of contracts among the profiled companies in 2012-2015, whereas GE led the developments in launching most number of new products/services/technologies.
Pad-mounted Transformer Market by End User (Industrial, Commercial, and Residential), by Phase (Single and Three), by Rated Power (<1 MVA and >1 MVA), by Insulation Type (Dry-type and Liquid-Immersed) & by Region - Global Forecast to 2020
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