Middle East Distribution Transformer Market Seeing Robust Growth Dominated by Saudi Arabia With Expected 4% CAGR
Technological development across the electrical equipment sector is expected to be a key factor contributing towards the Middle East distribution transformer market size. Growing trend towards the use of thinner material for outer metallic coating may further reduce losses. Introduction of nanotechnology is anticipated to improve several parameters. For instance, integration of hydrogen sensors with wireless transmission can help monitor device status remotely and take corrective measures efficiently. Smart distribution transformer is also expected to be used in electrical vehicle charging, as it encompasses AC Level 2 charging that can overload distribution network at distant buses.
Saudi Arabia distribution transformer market share is forecast to lead the industry, with revenue set to surpass USD 1.5 billion by 2024. Significant energy consumption in the residential and commercial sectors alike will drive regional growth.
Growth drivers : -
Growing smart grid deployment
Demand for energy efficiency
Considerable regional power sector