Middle East Distribution Transformer Market is set to gather huge profits in the coming years driven by the growing inclination of MEA region toward smart grid solution over conventional power grid. Interweaving of existing traditional sources with renewable energy sources requires smart grid installation, which in turn is propelling the industry growth in Middle East countries. According to Global Market Insights Inc.,” Middle East distribution transformer market in 2015 surpassed a revenue of USD 2.75 billion and is forecast to grow substantially at a CAGR of 3.9% over the period 2016-2024.”
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Infrastructural developments fueled by the increasing population and rapid urbanization of middle East countries have also spurred the growth prospects. Further, with the incorporation of hi-tech electrical equipment in power distribution sector, Middle East distribution transformer industry is undergoing a positive changeover. In this regard, integration of hydrogen sensors for wireless communication, advent of nanotechnology and well equipped transformers are expected to augment the overall Middle East market in the years ahead.
Below is the market in depth analysis based on product, technology, and regions, market players over 2016-2024:
- Small, medium, and large distribution transformer are the three categories predominant in the market. In 2015, Middle East medium distribution transformer industry worth over USD 1.2 billion, is poised to grow maximum over the forecast span. These types of transformers are popular in less densely populated areas and high power required plants. Small distribution transformer market in middle East is also set to witness a moderate annual growth rate of 3.9% over the coming seven years.
- Technologically, liquid filled distribution transformers dominated the middle East distribution transformer industry in 2015, with a revenue share of 75% of the total volume and is projected to grow considerably at a CAGR of 4% over 2016-2024.Dry type distribution transformers are preferred in mining, underground systems, and other industries where fire safety is the priority.
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- Saudi Arabia and UAE are the two-major business space of Middle East distribution transformer market. Saudi Arabia distribution transformer industry size is expected to cross over USD 1.5 billion by 2024.Growing adoption of alternative energy sources, highly efficient and reliable transmission and distribution system, and significant energy demand from commercial as well as residential sectors is driving the regional market. UAE being another prominent revenue contributor, accounted for 8% of the total Middle East distribution market in 2015.
- Notable power sector players have already marked their footprints in major strategies like product diversification and mergers & acquisitions. Some of the prominent Middle East distribution transformer market participants include General Electric, Abaft, ABB Group, and Alfanar.
Browse key industry insights spread across 76 pages with 36 market data tables & 30 figures & charts from the report, “Middle East Distribution Transformer Market2016 – 2024” in detail along with the table of contents:
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