The Middle East distribution transformer market is expected to reach USD 3.59 billion by 2022, according to a new study by Grand View Research, Inc. The need for effective electrical distribution has led to increasing adoption across the power, commercial and industrial sectors; this is anticipated to fuel product demand. Several benefits including reduced line loss, better power quality, reduced energy costs and optimal energy use are expected to catapult industry growth significantly. They also offer investment related benefits, improved reliability and compatibility. The escalating need to overcome current losses along with the rising electricity demand is also anticipated to fuel demand over the forecast period.
Low cost associated with the installation and conduit of distribution transformers may favorably impact industry growth. Increasing demand across plants and facilities that require huge amounts of power supply such as data centers is also anticipated to elevate product demand. Further, the ability to operate at low power frequencies offer benefits such as reduced power losses, better voltage regulation, increased functional flexibility and improved service continuity making it a lucrative market.
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Further key findings from the study suggest:
Medium transformers market accounted for over 40% of the overall revenue share in 2014, and the segment is expected to witness significant growth over the next few years. This may be primarily attributed to the low-cost associated with the installation of this product.
Small transformers segment is estimated to witness growth owing to high demand for stepping voltages down within a distribution circuit of a building or to supply power to equipment.
On account of unmatched high efficiency and the ability to operate at low power frequencies, large transformers segment is anticipated to exhibit moderate growth over the next seven years. These are also equipped with water-cooled heat exchangers or oil pumps, and cooling fans that are designed to remove heat.
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Liquid filled technology segment accounted for more than 70% of the overall revenue in 2014 which is estimated to increase over the forecast period owing to several benefits offered by this technology type. These include retro-fit application capabilities and high reliability service. Widespread usage of this product type in a wide range of utility, commercial and industrial applications may also fuel product demand over the coming years.
Saudi Arabia distribution transformers market emerged as the dominant regional segment and accounted for more than 35% of the overall revenue in 2014. Increasing urbanization and government investments in the power sector is anticipated to be the key factor that drives the regional demand.
Key players in this industry include ABB, Abaft Middle East, Alstom, General Electric, Siemens, Bawan and Alfanar Electrical Systems. The industry is poised to face several challenges owing to frequent update in government norms and regulations coupled with rising raw material prices making value chain analysis significant.
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