Renewable Energy Transformer Market Analysis

The market is segmented and analyzed for demand and supply by end users into distribution transformer, power transformer, and others. Out of these, the distribution transformer segment is estimated to gain the largest market share of about 50% in the year 2037. The demand for distribution transformers is rising owing to rapid urbanization. The rising number of electricity production plants and transmission facilities has resulted in higher distribution transformer revenues. Out of all regions, the African continent is anticipated to have the greatest potential. The expected fuel need for distribution transformers in the coming decades is the electrification of the African continent in the years ahead. The incorporation of renewable energy into the electrical grid in advanced as well as emerging nations has raised investment in the electrical power system and boosted the expansion of the distribution transformer segment. At the 24th World Energy Congress in Abu Dhabi, the United Arab Emirates' capital, in September 2019, Chinese telecom giant Huawei unveiled a variety of power solutions, involving aspirations for a smart distribution transformer. 

Application (Solar PV, Wind Farm, Hydro-Energy)

The global renewable energy transformer industry is also segmented and analyzed for demand and supply by application into solar PV, wind farm, hydro-energy, and others. Amongst these three segments, the heat hydro-energy segment is expected to garner a significant share of around 35% in the year 2037. During the projected period, the segment is expected to be driven by factors including a growing number of novel hydropower initiatives backed by government backing and an increased need for reliable electricity. In the coming years, emerging technological advancements aiming at expanding hydropower generation are likely to present considerable potential for the hydropower market. In 2019, hydropower capacity (80.25 GW) was worth 6.7% of installed electricity production capacity in the United States.