Posted On: 2021-04-05
Distribution transformers accounted for the maximum revenue share in Bangladesh power & distribution transformer market on account of widespread utility in the distribution network and industrial setup in 2020 – 6Wresearch
Bangladesh power & distribution transformer market is expected to witness healthy growth over the coming years owing to the rising commercial and industrial developments in the country, which in turn would increase the demand for electricity consumption. The government is working effectively towards the implementation of stabilized supply of electricity across the country by upgrading its power infrastructure and expanding its grid system, which would lead to the increased transformer demand.
According to 6Wresearch, Bangladesh Power and Distribution Transformers Market size is projected to grow at a CAGR of 4.2% during 2021-27. The government is taking numerous steps to improve the power supply in the country underpinned by initiatives such as Electricity for All, Renewable Energy Policy among others. The power sector of the country has embarked the top most priority coupled with the renewable energy playing a vital role in meeting the demand for electricity especially in the off-grid areas of the country. On account of the corona virus outbreak and nation-wide lockdown, the market experienced a downfall during the year 2020. However, with rising opportunities in the commercial and industrial sector, growing construction sector and government plans to increase electricity generation capacity, the demand for power & distribution transformers would witness a stable growth during the forecast period
According to Swati Acharya, Research Analyst, 6Wresearch, “The power utility segment holds the maximum revenue share, by verticals, due to rapidly rising rate of electrification as well as increasing power generation capacity especially in the area of renewable power segment. Additionally, as Bangladesh continues to reduce its dependence of traditional sources of energy, the country has witnessed a constant rise in number of solar parks and wind farms which has opened up new avenues for the application of power and distribution transformation.
On the basis of cooling types, liquid type acquired the major market revenue share and is anticipated to maintain the same over the forecast period as they have longer life expectancy and has better overload capability. Moreover, repairable capability of the liquid type transformer equipment is among the chief advantageous factors that has led to their increased applications, specifically at power generation end. Additionally, increasing inclination towards renewable sources of power generation would result in grid expansion, which would drive the demand for the liquid-type transformers in coming years.”
Some of the major companies in India power and distribution transformer market include ABB, Siemens, Mitsubishi and Robert Bosch.
"Bangladesh Power and Distribution Transformers Market (2021-27)" provides an in-depth analysis with 20 figures covered in 83 pages. The report estimates and forecast the overall India power and distribution transformer market by types, power rating, regions, cooling system and applications. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.