Increasing energy consumption and escalating expenditure on the modernization of electric infrastructure are set to propel the expansion of North America oil filled transformer market value through the forthcoming years.
The industry proliferation is further impelled by increasing investments towards utility-based establishments for meeting the rising electricity demand for urban and rural population. On this note, according to a recent study by Global Market Insights, Inc., North America oil filled transformer market share is anticipated to depict commendable growth through 2027.
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Key oil filled transformer manufacturers in North America comprises General Electric, Hitachi ABB Power Grids, Siemens, WEG, and others. These players are coming up with technological advancements and novel product developments for consolidating their position in the market.
To cite an instance, as part of an oil filled transformer testing conducted by the New York Power Authority in February 2020, a mini submersible robot was used for navigating through the transformer oils in a power transformer for the identification of operation issues while lowering unplanned down time and risk to personnel. Developed by ABB, the TXplore robot was submerged into an oil-filled transformer without the requirement for human inspection or for the removal of the oil from the transformer.
While such advancements in technology are touted to impel product adoption, regulatory norms favoring the establishment of renewable networks and the ongoing refurbishment of ageing grid infrastructure are touted to bolster business scenario in the region.
Some key trends impacting North America oil filled transformer industry growth are as follows:
Rising preference for ONAN mode of cooling
The ONAN mode of cooling is poised to gain considerable popularity through the ensuing years due to increasing application in transformers with a capacity of up to 30 MVA. The products are generally deployed for distribution type transformers having comparatively low ratings and are used across conventional electric networks.
The surging demand for electricity across industrial & commercial sectors will further have a positive impact on the industry landscape through 2027.
Increasing demand for low & medium voltage networks in Mexico
Mexico oil filled transformer industry will register an appreciable growth of more than 5% from 2021 to 2027. This rise is due to the increasing demand for low & medium voltage networks across commercial and residential establishments.
The market growth is also propelled by the escalating population and the shifting inclination of consumers towards reliable, safe, and effective power networks. The rise is supplemented by the integration of wide-ranging frequency distribution links and the soaring demand for electricity.
Surging adoption of pole mounted transformers
North America oil filled transformer industry will register substantial gains from pole mounted transformers owing to the robust expansion of utility aided distribution networks coupled with increasing investments in infrastructure.
In addition, pole mounted transformers are easy to install on single pole structures and have reasonably compact size. Rising investment for the development of new networks and an increase in grid upgradation projects by governments will boost industry outlook through the projected period.
On the whole, the rising deployment of smart grid technology coupled with the increasing expenditure on infrastructure will escalate the expansion of North America oil filled transformer market share over the forthcoming years.
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