In a recent published report, Kenneth Research has updated the market report for California Distribution Transformers Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for California Distribution Transformers Market products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
California’s transmission and distribution (T&D) network is an interconnection of generation facilities, high voltage (HV) transmission lines, substations, and low voltage (LV) distribution lines, along with the other states in the country. It has a significant vast infrastructure consisting of numerous miles of HV transmission and distribution cables serving a large array of consumers.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
Over the past few years, there has been a considerable amount of investments by the US, in order to expand, replace, and upgrade the existing T&D infrastructure across few states in the country, namely California, Florida, Texas, New York, and Washington. This can be primarily attributed to aging and inadequate T&D infrastructure. In addition, certain other factors such as increasing demand for reliable power delivery systems, regulations, and focus on renewable energy production are also anticipated to drive the investments pertaining to the T&D infrastructure of the country.
Recently, the power industry in California has witnessed two major transformations, one is due to the shift from conventional sources of energy to renewable resources and the second is due to a shift from the highly centralized power system to a decentralized system. The centralized system was mainly concerned with large remote generating plants, whereas the decentralized system involved technological advances and customer adoption pertaining to distributed energy resources (DERs).
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The US has some of the major global distribution transformer manufacturers. There are more than 100 manufacturers and importers of distribution transformers operating in the US. Out of these, only the major manufacturers such as ABB, General Electric, Eaton, and a few others represent more than 50% of the dry-type and liquid-immersed transformer market. Some of the major manufacturers for the liquid-immersed transformers in the US are ABB, Cooper Power Systems, ERMCO, and General Electric.
On the other hand, major manufacturers for dry-type transformers include ABB, Acme Electric Corporation (Hubbell), and Eaton. These companies account for more than half of the total revenue generated via sales for both the type of transformers across different states.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
The US Department of Energy (DOE) is an authority responsible for energy conservation standards for distribution transformers for all of the US states. Some of the major authorities in the country to oversee T&D infrastructure in some states include California ISO (CAISO), Electric Reliability Council of Texas (ERCOT), ISO New England (ISO-NE), Midcontinent ISO (MISO), and New York ISO (NYISO).
The installation of more efficient and reliable transformers in the US is expected to aid in the generation of large energy in tandem with some monetary savings. Additionally, the adoption of more advanced and efficient technology pertaining to different operational characteristics of the transformers is also anticipated to result in the generation of more power.
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