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Global Distribution Transformers Industry

  • October 2016
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  • Global Industry Analysts
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  • 563 pages

This report analyzes the worldwide markets for Distribution Transformers in US$ Thousand by the following Equipment Class: Oil Filled Distribution Transformers, and Dry Type Distribution Transformers. The End-Use Sectors also analyzed in the report include Utility, and Non-Utility. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Annual estimates and forecasts are provided for the period 2015 through 2022. Also, a six-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs. The report profiles 145 companies including many key and niche players such as -

ASEA Brown Boveri
ASTOR TRANSFORMER A.S
Bemag Transformer
Bharat Heavy Electricals Limited
Bowers Electricals

Table Of Contents

Global Distribution Transformers Industry


I. INTRODUCTION, METHODOLOGY and PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations I-1 Disclaimers.............. I-2 Data Interpretation and Reporting Level I-2 Quantitative Techniques and Analytics I-3 Product Definitions and Scope of Study I-3 Oil Filled Distribution Transformers I-3 Dry Type Distribution Transformers I-4

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW.............. II-1 Distribution Transformers: Meeting the Distribution Needs of the Evolving Electric Power Industry II-1 Deregulation and Its Impact on Power Sector: An Insight II-5 Market Fortunes Intrinsically Linked to TandD Network Trends II-6 Table 1: Global Installed Capacity (GVA) of Distribution Transformers by Region: 2005-2030 (includes corresponding Graph/Chart).............. II-8 Spiraling Energy Consumption and Equally Robust Electric Power Production Drives the Need for Efficient Power Distribution II-9 Table 2: Estimated Global Demand for Primary Energy and Electricity for the Years 2015-2035 (includes corresponding Graph/Chart).............. II-9

Table 3: Global Net Electricity Generation (in Trillion KiloWattHours (KWh)): Growth Trajectory for the Period 1995-2035 (includes corresponding Graph/Chart) II-10

Table 4: Global Electricity Production by Country (2014): Percentage Breakdown of Electricity Production Volume for China, United States, India, Russia, Japan, Canada, Germany, Brazil, France, South Korea, and Others (includes corresponding Graph/Chart)..............II-10

Table 5: Global Electricity Consumption by Country (2014): Percentage Breakdown of Electricity Consumption Volume for China, United States, Japan, Russia, India, Germany, Canada, Brazil, South Korea, France, and Others (includes corresponding Graph/Chart)..............II-11 The Transformation of the Power Transmission and Distribution Technology over the Years..............II-11 Global Market Outlook..............II-13 Recovering Growth Fundamentals Present Optimistic Outlook for Distribution Transformers..............II-16 Table 6: Real GDP Growth Rates (%) in Major World Economies: 2014-2017E (includes corresponding Graph/Chart) II-20

2. COMPETITION.............. II-21 ABB: The Largest Transformer Company in the World Built by Path-breaking Innovations..............II-21 ABB's Portfolio of High-Efficiency Transformers II-22 Table 7: Leading Distribution Transformer Companies Worldwide (2015E): Percentage Breakdown of Dollar Sales for ABB, Schneider, Siemens, and Others (includes corresponding Graph/Chart).............. II-23 Competition: Noteworthy Trends II-23 Competitive Pressures Continue to Build Up II-23 Collaboration: A Buzzword in the Transformers Industry II-23 Distribution Transformers Market Undergoes Consolidation II-24 Green Solutions Take Precedence in Transformer Designs II-24 Volatile Raw Material Costs Impact Distribution Transformer Pricing.............. II-25 Hardening Raw Material Prices Exert Significant Influence on Transformer Designs..............II-25 Customer Loyalty: Imperative for Sustenance II-25

3. MARKET TRENDS, ISSUES and DRIVERS II-26 Surging Demand for Smart Transformers Drive Steady Market Growth II-26 Table 8: Global Smart Transformers Market - Annual Revenue Figures in US$ Million for Years 2014, 2016, 2018 and 2020 (includes corresponding Graph/Chart) II-27 Smart Transformers for Smarter Power Transmission and Distribution.............. II-28 Traditional Vs. Smart Transformers: A Comparison II-29 Smart Transformers for Effective Power Loss Management II-30 Smart Distribution Transformers: Vital to Asset Monitoring II-31 Spiraling Smart Grid Technologies Spend: An Important Opportunity Indicator for Smart Transformers II-31 Table 9: Global Spend on Smart Grid Technologies by Region (2014, 2017 and 2020): Cumulative Spending (in US$ Billion) for Asia-Pacific (incl. China), Europe, Latin America, and North America (includes corresponding Graph/Chart) II-32 Distribution Transformers with On-Load Tap Changers to Play Critical Role in Smart Grids..............II-32 Major Applications of Smart Transformers in the Smart Grid II-33 Connection between LV and MV Grids II-34 Connection between Loads and MV Grid II-34 Application between Distribution Grids II-34 Application between Power Generation Source and Distribution Grid or Load..............II-34 Interface for Smart Grids and Distributed Generation II-34 Growing Need for Energy Savings Drive Demand for Higher Efficiency Distribution Transformers II-34 Huge Savings Potential of Higher Efficiency Distribution Transformers.............. II-35 Key Barriers to Adoption of Higher Efficiency Distribution Transformers.............. II-36 The Integrated Policy Approach for Transition to Higher Efficiency Distribution Transformers II-36 Efforts for Making Energy Performance of Distribution Transformers More Visible..............II-37 Universal Adoption of MEPS Needed for More Savings II-38 Economic Incentives Encourage Distribution Networks to Adopt Higher Efficiency Transformers II-38 Need for Policy Frameworks..............II-38 Public Policies Concerning Transformers at the Product, Utility and Market Levels..............II-39 Product Level.............. II-39 Utility Level.............. II-39 Market Level.............. II-39 Surging New Capacity Additions: A Business Case for the Power Distribution Industry..............II-40 Upgrades and Expansion Projects Drive Strong Demand in Asian Countries.............. II-41 Table 10: Global Distribution Transformers Market - Geographic Regions Ranked by CAGR (Value) for 2015-2022: Asia-Pacific, Latin America, Rest of World, the US, Canada, Europe, and Japan (includes corresponding Graph/Chart) II-42 Rural Electrification Promote Market Adoption II-42 Table 11: World Electricity Accessibility by Country (2013) Percentage of Population with Access to Electricity for Argentina, Bangladesh, Bahrain, Bolivia, Brazil, Brunei , China, Cambodia, Egypt, Ecuador, Iran , Iraq, India, Indonesia, Jordon, Kenya, Libya, Myanmar, Sri Lanka, Malaysia, Nigeria, Oman, Pakistan, Philippines, Qatar, Saudi Arabia, South Africa, Venezuela, and Vietnam (includes corresponding Graph/Chart)..............II-43 Developed Markets Dependent on Replacement and Upgrades Demand II-44 Steady Demand from Industrial, Commercial and Residential Sectors Lend Traction to Market Growth II-44 Table 12: Global Electricity Consumption by Sector (2014): Percentage Breakdown of Electricity Consumed (in Mtoe) for Industry, Transport, and Others (includes corresponding Graph/Chart).............. II-45 Surge in Residential, Commercial, Industrial and Infrastructure Construction Powers Demand Growth II-45 Table 13: Growth in the Global Construction Market by Sector: 2013-2020 (includes corresponding Graph/Chart) II-46

Table 14: Global Construction Market by Region (2015 and 2020P): Percentage Breakdown of Construction Spending for Asia, Western Europe, North America, Latin America, Eastern Europe, Africa, and Middle East (includes corresponding Graph/Chart).............. II-47

Table 15: Global Infrastructure Investment by Investment Area (2014-2030): Breakdown of Investment (in US$ Trillion) for Airports, Ports, Power, Railways, Roadways, Telecom, and Water (includes corresponding Graph/Chart) II-48

Table 16: Airport Construction Projects Worldwide by Geographic Region (2015E): Breakdown of Investment (in US$ Billion) and Number of Projects (includes corresponding Graph/Chart).............. II-49 Disruptions in Transmission and Distribution Provide Opportunities.............. II-50 Stabilizing Regulatory Environment Benefits Market Expansion II-50 New Zealand and Australia..............II-51 Brazil.............. II-51 Canada.............. II-51 China.............. II-52 Europe.............. II-52 India.............. II-53 Israel.............. II-53 Japan.............. II-54 Korea.............. II-54 Mexico.............. II-54 The United States..............II-54 Implementation of Energy Efficiency Standards Bodes Well for the Market.............. II-55 Growing Threat of Global Warming Stokes Demand for Green Distribution Transformers..............II-55 Domestic Targets for Greenhouse Gas Emissions of Select Regions/Countries.............. II-56 Green Transformer Program Supports Environmental Protection II-57 Benefits of Low-Loss Transformers II-57 Transformers Going Green, Ester Used for Insulation Purposes II-58 Advantages of Natural Ester Fluid II-58 Natural Ester Fluid-Based Amorphous Transformers II-58 Energy Losses during Electricity Distribution Reinforces the Need for Efficient Equipment..............II-59 Table 17: Global Estimated Network Losses (excluding Theft) (1980-2011): Electricity Losses (TWh) for Africa, Central and South America, China, India, Japan, Korea, Australia and New Zealand, Rest of Asia, Europe, FSU, Middle East, and North America (includes corresponding Graph/Chart) II-60 Favorable Demographic and Urbanization Trends Strengthens Market Prospects.............. II-61 Ballooning Global Population..............II-61 Table 18: World Population (in Millions) by Geographic Region: 2000, 2010, 2015, 2020, 2030, 2040, and 2050 (includes corresponding Graph/Chart) II-62 Exponential Increase in Global Urban Population II-62 Table 19: World Urban Population in Thousands: 1950-2050P (includes corresponding Graph/Chart) II-63

Table 20: Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1990, 2014 and 2050 (includes corresponding Graph/Chart) II-64

Table 21: Global Urbanization Rate (% of Total Population) in Developing Countries and Industrialized Countries: 1950 through 2040 (includes corresponding Graph/Chart) II-65

4. TRANSFORMER INNOVATIONS and ADVANCEMENTS II-66 Technological Advances to Transform Distribution Transformers Design and Functionality..............II-66 NoTable Smart Transformer Innovations II-66 Intelligent Transformer Substations Improve Distribution Grid Stability.............. II-67 Intelligent Solutions for Distribution Grids II-67 Advanced Design.............. II-68 Adoption of Regulated Distribution Transformers II-68 Neutron Grating Interferometry for Transformers II-69 ABB Unveils Transformer Intelligenceâ„¢ II-69 Modern Transformer Core Technology to Develop Low-Loss Transformers.............. II-70 Amorphous Core Helps to Reduce Iron Losses in Transformers II-70 Completely Self-Protected (CSP) Transformers II-71 Primary Fuse.............. II-71 Secondary Circuit Breaker..............II-71 Surge Arrester.............. II-71 Whispering Transformer from Siemens: A Major Landmark in Eco- Friendly Energy Infrastructure..............II-72 Wireless Power Transmission: The Future of Energy Transmission Technology.............. II-72 Distribution Transformers to Benefit from the Nanotechnology Advantage.............. II-72 Dry-Type Transformers: Fast Replacing Oil-Type Transformers Owing to Superior Features..............II-73 Amorphous Metal Transformers Lowers Losses and Emissions II-73 AMTs Gain Wide Acceptance in Developing Countries II-75 Solid-state Transformers (SSTs)..............II-75 SST Design from FREEDM Center II-75 Advanced Distribution Devices from Duke Energy's Pilot Project II-76 Hexaformers: A New Breed of Transformers II-76 Voltage Regulated Distribution Transformers: Future of Solar Photovoltaic Installations..............II-76 Growing Adoption of High Voltage Direct Current (HVDC) Bodes Well for the Market..............II-77 Table 22: Installed Capacity of HVDC at 800 kV for the Years 2005 and 2010 (includes corresponding Graph/Chart) II-77 Research and Development Initiatives that are Garnering Significant Market Interest..............II-78 Low Resistivity Contacts in Iron-Pnictide Based Superconductor Applications..............II-78 Aluminum-Alkaline Metal-Metal Composite Conductors II-78 Hydrogen Fluoride (HF) Gas Pressure Control for Enhanced High Temperature Superconductors..............II-78 Catalytic Substrates Based Super Conducting Cuprates II-79 Electro-Deposition for Substrate Based Bi-axial Textured Layers II-79

5. PRODUCT OVERVIEW.............. II-80 Transformers: Definition..............II-80 FIGURE: Electricity Generation and Transmission Ecosystem II-80 Table 23: Categorization of Distribution Transformers based on Their Capacities..............II-81 Architecture of Transformers..............II-81 Transformer Failure.............. II-82 Reasons for Transformer Failure II-83 Contaminants.............. II-83 Fault Currents.............. II-83 Usage beyond Stipulated Thermal Limits II-83 Corrosion.............. II-83 Electromagnetic Disturbances II-83 Transformer Efficiency..............II-84 Distribution Transformers..............II-84 Power Transformers and Distribution Transformers: A Comparison II-85 Classification of Distribution Transformers II-85 Distribution Transformers by Insulation II-85 Oil Filled Distribution Transformers II-86 Dry Type Distribution Transformers II-86 Distribution Transformers by Application II-86 Uses of Distribution Transformers II-86 Transformer Losses.............. II-87 No-Load Loss.............. II-87 Load Loss.............. II-87 Cooling Loss.............. II-87 History of Transformers..............II-87

6. PRODUCT INTRODUCTIONS/INNOVATIONS II-88 ABB Launches Innovative Traction Transformer II-88 Siemens Receives Order to Supply Distribution Transformers to Netze BW.............. II-88 GE Launches Next-Generation Transformer II-88 ABB Unveils Micropole Distribution Transformer II-88 GE's Digital Energy Unveils PROLEC-GE Solar Pad-Mounted Transformer.............. II-88 Powertech Transformers to Develop Shunt Reactor for South African Market.............. II-88

7. RECENT INDUSTRY ACTIVITY..............II-89 ABB Receives Order to Supply Energy-Efficient Transformers II-89 First Reserve to Take Over Crompton Greaves' International Transmission and Distribution Division II-89 ABB Receives Order to Supply Special Transformers for Wind Turbines.............. II-89 MR Takes Over Majority Stake in CEDASPE power Srl. II-89 Siemens Receives Order to Supply Distribution Transformers to Iraq.............. II-89 PPI to Divest Power Partners to OpenGate Capital II-89 Hitachi HVB Changes Name to Hitachi TandD Solutions II-90 Toshiba Receives Supply Order from Kenya Power and Lighting Company II-90 SP Energy Networks Receives Order for Electric Distribution Transformers.............. II-90 IMEFY Receives ERDF Approval for Oil Immersed Distribution Transformers.............. II-90 CG Sells Canadian Power Transformer Business to PTI II-90 Avantha Receives Order for Power Transformers from PT PLN II-90 Hitachi Establishes JV with Soe Electric and Machinery II-90 Avantha Group Company CG to Supply Distribution Controllers to Energias de Portugal..............II-91 Efacec Inks Multiannual Supply Contract for EcoDesign Distribution Transformers..............II-91 ABB Receives Order to Supply Transformers for Electric Rail Fleet in South Africa..............II-91 Grey Mountain Partners Takes Over Sunbelt Transformer II-91 IMEFY Renews Certificate for Distribution and Power Transformers II-91 Pioneer Power Solutions Receives Order for Supply of Energy- Efficient Transformers..............II-91 Pioneer Power Solutions to Merge Dry-Type Transformer Plants in North America.............. II-91 Energa Inks Supply Agreement with Imefy II-91 IMEFY Wins Contract from Enea to Manufacture Distribution Transformers.............. II-92 IMEFY Receives Supply Order from PGE II-92 Hydro-Quebec Inks Contract with Pioneer Transformers to Manufacture Distribution Transformers II-92 Imefy Receives Order from TAURON to Supply Oil and Resin Transformers.............. II-92 Landis+Gyr Receives Transformer Supply Order from Elenia Oy II-92 Emerson Completes Acquisition of Outstanding Equity in EGS Electrical and Rebrands unit as Appleton Group II-92 Toshiba Corporation Acquires of Vijai Electricals II-92 Sumida Power Technology to Take Over Transformer Business of Nihon Kohden.............. II-93 ABB Commissions Manufacturing Unit for Transformer Components in Poland.............. II-93 Tata Power to Utilize Natural Esters in Electrical Distribution Transformers..............II-93 Tata Power Commissions ABB India's Green Distribution Transformer II-93

8. FOCUS ON SELECT PLAYERS..............II-94 ASEA Brown Boveri (ABB) (Switzerland) II-94 ASTOR TRANSFORMER A.S (Turkey) II-94 Bemag Transformer (Canada)..............II-95 Bharat Heavy Electricals Limited (India) II-95 Bowers Electricals (UK)..............II-96 Crompton Greaves Ltd. (India)..............II-96 DAIHEN Corporation (Japan)..............II-97 Diamond Power Infrastructure Limited (India) II-98 Eaton Corporation (USA)..............II-98 EFACEC Group (Portugal)..............II-98 EMCO Ltd. (India).............. II-99 Emerson Industrial Automation (USA) II-99 Appleton Group (USA)..............II-100 ETEL Transformers Pty Ltd. (Australia) II-100 Federal Pacific (USA)..............II-101 General Electric Company (USA) II-101 Hammond Power Solutions, Inc. (Canada) II-101 Harmonics Limited (USA)..............II-102 Howard Industries, Inc. (USA)..............II-102 Hubbell Incorporated (USA)..............II-103 Hyosung Power and Industrial Systems Performance Group (South Korea).............. II-103 Hyundai Heavy Industries Co., Ltd. (South Korea) II-104 Imefy Group (Spain).............. II-104 IMP Power Limited (India)..............II-105 JiangSu HuaPeng Transformer Co., Ltd. (China) II-105 Kirloskar Electric Company Limited (India) II-105 KONCAR - ELECTRICAL INDUSTRY, Inc. (Croatia) II-105 Marsons Limited (India)..............II-106 MGM Transformer Company (USA)..............II-106 Mitsubishi Electric Corporation (Japan) II-106 Ormazabal Cotradis (Spain)..............II-107 Pioneer Power Solutions, Inc. (USA) II-107 Jefferson Electric (USA)..............II-107 Powertech Transformers (Pty) Ltd. (South Africa) II-108 Schneider Electric SA (France) II-108 SGB-SMIT Group (Germany)..............II-109 Siemens AG (Germany)..............II-109 Shihlin Electric and Engineering Corporation (Taiwan) II-109 Tebian Electric Apparatus Stock Co., Ltd. (TBEA) (China) II-110 Technical Associates Ltd. (India) II-110 VanTran Industries, Inc. (USA) II-110 Wilson Power Solutions (UK)..............II-111 Wilson Transformer Company (Australia) II-111

9. GLOBAL MARKET PERSPECTIVE..............II-112 Table 24: World Recent Past, Current and Future Analysis for Distribution Transformers by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) II-112

Table 25: World Historic Review for Distribution Transformers by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart).............. II-113

Table 26: World 14-Year Perspective for Distribution Transformers by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) II-114

Distribution Transformers by Equipment Class II-115 Table 27: World Recent Past, Current and Future Analysis for Dry Type Distribution Transformers by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) II-115

Table 28: World Historic Review for Dry Type Distribution Transformers by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) II-116

Table 29: World 14-Year Perspective for Dry Type Distribution Transformers by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. II-117

Table 30: World Recent Past, Current and Future Analysis for Oil Filled Distribution Transformers by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart) II-118

Table 31: World Historic Review for Oil Filled Distribution Transformers by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) II-119

Table 32: World 14-Year Perspective for Oil Filled Distribution Transformers by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)..............II-120

Distribution Transformers by Application II-121 Table 33: World Recent Past, Current and Future Analysis for Distribution Transformers in Utility Applications by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart).............. II-121

Table 34: World Historic Review for Distribution Transformers in Utility Applications by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) II-122

Table 35: World 14-Year Perspective for Distribution Transformers in Utility Applications by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)..............II-123

Table 36: World Recent Past, Current and Future Analysis for Distribution Transformers in Non-Utility Applications by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2015 through 2022 (includes corresponding Graph/Chart).............. II-124

Table 37: World Historic Review for Distribution Transformers in Non-Utility Applications by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets Independently Analyzed with Annual Sales Figures in US$ Million for Years 2009 through 2014 (includes corresponding Graph/Chart) II-125

Table 38: World 14-Year Perspective for Distribution Transformers in Non-Utility Applications by Geographic Region - Percentage Breakdown of Dollar Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Latin America and Rest of World Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)..............II-126

III. MARKET

1. THE UNITED STATES.............. III-1 A.Market Analysis.............. III-1 Bourgeoning Electricity Demand Fuels Healthy Market Growth III-1 Table 39: Electricity Demand (Billion KWh) in the United States: 1980-2040 (includes corresponding Graph/Chart) III-2 Transformer Replacements and Capacity Additions Drive Market Growth.............. III-2 Table 40: Transmission and Distribution Spending ($ Billion) in the United States: 1990-2009 and 2010-2030 (includes corresponding Graph/Chart)..............III-3 Infrastructure Spend by Government Bodies and Institutions Spur Demand.............. III-3 Rising Adoption of Renewable Energy Sources in Power Generation Set to Power Growth III-3 Table 41: US Power Generation Capacity by Energy Source (2010 and 2020): Percentage Breakdown of Power Generation Capacity from Gas, Coal, Nuclear, Renewable Energy, Hydro, and Oil Sources (includes corresponding Graph/Chart) III-4 Industrial and Electric Utilities: Dominant End-use Sectors for TandD Equipment..............III-5 Table 42: Electric Power Transmission and Distribution Equipment Market in the United States by End-use Sector (2015): Breakdown of Demand for Residential, Commercial, Electric Utility Industrial and Others (includes corresponding Graph/Chart)..............III-5

Table 43: Energy Consumption in the United States by End-use Sector (2008, 2016 and 2020): Breakdown of Electricity Consumption (in Billion Kilowatt Hours) for Residential, Commercial, and Industrial (includes corresponding Graph/Chart)..............III-6 Steady Recovery in Construction Activity Benefits Market Expansion.............. III-6 Table 44: Residential Construction in the US (2007-2017P): Number of Housing Starts by Type - Single-Family Units and Multi-Family Units (in ‘000) (includes corresponding Graph/Chart).............. III-7

Table 45: Projected Growth (%) of the US Construction Market over the Period 2012-2020 by Sector (includes corresponding Graph/Chart)..............III-7

Table 46: US Non-Residential Construction Market by Segment (2015): Percentage Share Breakdown of Investments for Commercial and Office, Industrial and Others, and Institutional (includes corresponding Graph/Chart) III-8

Table 47: US Private Non-Residential Construction Market by Sector (2015): Percentage Share Breakdown of Construction Spend for Commercial, Communication, Education, Healthcare, Lodging, Manufacturing, Office, Power, and Others (includes corresponding Graph/Chart)..............III-8

Table 48: US Public Non-Residential Construction Market by Sector (2015): Percentage Share Breakdown of Construction Spend for Educational, Health, Highway and Street, Office, Power, Sewage, Transportation, Water Supply, and Others (includes corresponding Graph/Chart) III-9 New DoE Regulations Poised to Increase Distribution Transformers Efficiency..............III-9 The New Standards..............III-10 Competitive Landscape..............III-11 Table 49: Leading Electric Power Transmission and Distribution Equipment Companies in the US (2015): Percentage Breakdown of Sales for ABB, Eaton, GE, Schneider, Siemens, and Others (includes corresponding Graph/Chart).............. III-12 North American TandD Infrastructure: A Macro Perspective III-12 Notable TandD Investments..............III-12 Primary Drivers..............III-13 Inadequate and Aging TandD Infrastructure III-13 Need for Reliable Power Supply III-14 Regulatory Landscape..............III-14 Demand for Outsourced Providers III-15 Focus on Renewable Energy Generation III-15 Proliferation of Oil and Gas Production III-15 Transition from Coal to Natural Gas Generation III-16 Product Launch.............. III-17 Strategic Corporate Developments III-17 Select Key Players..............III-18 B.Market Analytics..............III-23 Table 50: US Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type Low Voltage, Dry Type Medium Voltage, Oil Filled Medium Voltage Single Phase, and Oil Filled Medium Voltage Three Phase Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-23

Table 51: US Historic Review for Distribution Transformers by Equipment Class - Dry Type Low Voltage, Dry Type Medium Voltage, Oil Filled Medium Voltage Single Phase, and Oil Filled Medium Voltage Three Phase Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-24

Table 52: US 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type Low Voltage, Dry Type Medium Voltage, Oil Filled Medium Voltage Single Phase, and Oil Filled Medium Voltage Three Phase Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-25

Table 53: US Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-26

Table 54: US Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-27

Table 55: US 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-28

2. CANADA.............. III-29 A.Market Analysis.............. III-29 Market Overview.............. III-29 Regulatory Scenario in Canada..............III-29 Table 56: Canada Voluntary Standards for Liquid-Type Distribution Transformers..............III-30 Corporate Development..............III-30 Select Key Players..............III-30 B.Market Analytics..............III-31 Table 57: Canadian Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-31

Table 58: Canadian Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-32

Table 59: Canadian 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-33

Table 60: Canadian Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-34

Table 61: Canadian Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-35

Table 62: Canadian 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-36

3. JAPAN.............. III-37 A.Market Analysis.............. III-37 Regulatory Scenario in Japan III-37 Table 63: Japanese Top Runner Program for 60 Hz Single-Phase and Three-Phase Oil-filled Transformers with Standards Converted to Efficiency III-37 Strategic Corporate Developments III-38 Select Key Players..............III-38 B.Market Analytics..............III-39 Table 64: Japanese Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-39

Table 65: Japanese Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-40

Table 66: Japanese 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-41

Table 67: Japanese Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-42

Table 68: Japanese Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-43

Table 69: Japanese 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-44

4. EUROPE.............. III-45 A.Market Analysis.............. III-45 Europe: A Matured Market for Transformers III-45 Factual Snippets From Across Europe III-45 Transformer Sales to Benefit from the Evolution of Smart Grids III-46 Value Added Services to Improve Growth Prospects III-46 Electric Utilities: Major End-user of Distribution Transformers III-46 Life Span of Transformers..............III-47 Recession Alters Production and Demand Scenario III-47 Overview of European Power Regulatory Framework III-48 Establishment of Internal Energy Market III-48 Overview of European Energy Efficiency Standards III-48 Table 70: Current European Distribution Transformer Loss Standards.............. III-49 B.Market Analytics..............III-50 Table 71: European Recent Past, Current and Future Analysis for Distribution Transformers by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart).............. III-50

Table 72: European Historic Review for Distribution Transformers by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-51

Table 73: European 14-Year Perspective for Distribution Transformers by Geographic Region - Percentage Breakdown of Dollar Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-52

Table 74: European Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-53

Table 75: European Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-54

Table 76: European 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-55

Table 77: European Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-56

Table 78: European Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-57

Table 79: European 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-58

4a. FRANCE.............. III-59 A.Market Analysis.............. III-59 Product Launch.............. III-59 Schneider Electric SA - A Major France- Based Company III-59 B.Market Analytics..............III-60 Table 80: French Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-60

Table 81: French Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-61

Table 82: French 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-62

Table 83: French Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-63

Table 84: French Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-64

Table 85: French 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-65

4b. GERMANY.............. III-66 A.Market Analysis.............. III-66 EU Regulation Paves Way for High Efficiency Amorphous Transformers in Germany..............III-66 Product Launch.............. III-66 Select Key Players..............III-67 B.Market Analytics..............III-68 Table 86: German Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-68

Table 87: German Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-69

Table 88: German 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-70

Table 89: German Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-71

Table 90: German Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-72

Table 91: German 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-73

4c. ITALY.............. III-74 A.Market Analysis.............. III-74 Italian Electricity Regulatory Framework III-74 Corporate Development..............III-74 B.Market Analytics..............III-75 Table 92: Italian Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-75

Table 93: Italian Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-76

Table 94: Italian 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-77

Table 95: Italian Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-78

Table 96: Italian Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-79

Table 97: Italian 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-80

4d. THE UNITED KINGDOM..............III-81 A.Market Analysis.............. III-81 Strategic Corporate Developments III-81 Select Key Players..............III-81 B.Market Analytics..............III-83 Table 98: UK Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-83

Table 99: UK Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-84

Table 100: UK 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-85

Table 101: UK Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-86

Table 102: UK Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-87

Table 103: UK 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-88

4e. SPAIN.............. III-89 A.Market Analysis.............. III-89 New Regulatory Agency Established III-89 Strategic Corporate Developments III-89 Select Key Players..............III-90 B.Market Analytics..............III-91 Table 104: Spanish Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-91

Table 105: Spanish Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-92

Table 106: Spanish 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-93

Table 107: Spanish Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-94

Table 108: Spanish Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-95

Table 109: Spanish 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-96

4f. RUSSIA.............. III-97 Market Analysis.............. III-97 Table 110: Russian Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-97

Table 111: Russian Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-98

Table 112: Russian 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-99

Table 113: Russian Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-100

Table 114: Russian Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-101

Table 115: Russian 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-102

4g. REST OF EUROPE.............. III-103 A.Market Analysis.............. III-103 Product Launches..............III-103 Strategic Corporate Developments III-103 Select Key Players..............III-104 B.Market Analytics..............III-107 Table 116: Rest of European Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-107

Table 117: Rest of European Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-108

Table 118: Rest of European 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)..............III-109

Table 119: Rest of European Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-110

Table 120: Rest of European Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-111

Table 121: Rest of European 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-112

5. ASIA-PACIFIC.............. III-113 A.Market Analysis.............. III-113 Asia-Pacific: Largest and the Fastest Growing Market Worldwide III-113 Table 122: Global Distribution Transformers Market - Geographic Regions Ranked by CAGR (Value) for 2015-2022: Asia-Pacific, Latin America, Rest of World, the US, Canada, Europe, and Japan (includes corresponding Graph/Chart) III-115 Growing Electricity Demand and the Construction Sector Fuels Market Demand in South East Asia III-115 Rural Electrification in Asian Countries Promote Growth III-116 Railway Electrification and High Speed Railway Projects Offer Lucrative Opportunities III-116 B.Market Analytics..............III-117 Table 123: Asia-Pacific Recent Past, Current and Future Analysis for Distribution Transformers by Geographic Region - China, India and Rest of Asia-Pacific Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart).............. III-117

Table 124: Asia-Pacific Historic Review for Distribution Transformers by Geographic Region - China, India and Rest of Asia-Pacific Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-118

Table 125: Asia-Pacific 14-Year Perspective for Distribution Transformers by Geographic Region - Percentage Breakdown of Dollar Sales for China, India and Rest of Asia-Pacific Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-119

Table 126: Asia-Pacific Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-120

Table 127: Asia-Pacific Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-121

Table 128: Asia-Pacific 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-122

Table 129: Asia-Pacific Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-123

Table 130: Asia-Pacific Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-124

Table 131: Asia-Pacific 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-125

5a. CHINA.............. III-126 A.Market Analysis.............. III-126 Rising Government Efforts to Address the Country's Power Requirements Drive Strong Growth III-126 Table 132: Electricity Consumption in China: 2000-2015 (in TWh) (includes corresponding Graph/Chart) III-127 The Northwest and Southeast China to Bolster the Demand for Electric TandD Equipment..............III-127 Domestic Market Growth Attracts International Players III-127 Rising Demand for Chinese Transformers in Overseas Markets III-128 Industry Moves towards High-Voltage Transformers III-128 Issues Persist in the Chinese Transformer Industry III-128 Chinese Transformers Industry: Highly Competitive at the Lower End.............. III-128 Table 133: Leading Transformer Companies in China (2015): Percentage Market Share Breakdown for ABB, Baoding, TBEA, XD Electric and Others (includes corresponding Graph/Chart) III-129 Factors Driving the Distribution Transformers Market in China III-129 Investments in Interconnected Power Grid III-129 Transmission over Long Distances III-129 Energy Efficient Transformers III-130 Regulatory Scenario in China III-130 Table 134: China Financial Subsidies Provided for Promoting Use of Energy Efficient Transformers III-130 Select Key Players..............III-131 B.Market Analytics..............III-132 Table 135: Chinese Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-132

Table 136: Chinese Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-133

Table 137: Chinese 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-134

Table 138: Chinese Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-135

Table 139: Chinese Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-136

Table 140: Chinese 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-137

5b. INDIA.............. III-138 A.Market Analysis.............. III-138 Need to Replace Aging Distribution Transformers Offers Significant Growth Opportunities III-138 Revival in Orders and Planned Investments Offer Strong Business Case for Distribution Transformers III-138 Rising Demand for Power to Drive Growth in the Distribution Transformer Market..............III-140 Government Initiatives to Improve Power Infrastructure Boosts Market Prospects..............III-140 Green Energy Corridor and the Restructured Accelerated Power Development and Reforms Programme: A Step in the Right Direction..............III-141 Table 141: Indian Power Generation Market (2013-2018): Total Planned Addition for Power Generation Capacity Addition by Power Source for Hydro Power and Thermal Power (in MW) (includes corresponding Graph/Chart) III-142 Government Initiatives to Strengthen State Electricity Boards Benefits the Market III-142 Lower Efficiency of Distribution Transformers: A Major Cause for Concern?.............. III-143 State Electricity Boards (SEBs): Major Buyers of Distribution Transformers..............III-144 Industrial Sector to Generate Adequate Demand for Transformers III-145 Regulatory Scenario in India III-145 Electrical Equipment Industry in India: A Macro Perspective III-145 Competitive Landscape: Indian Manufacturers Geared to Serve Growing Demand.............. III-146 Indian Transformers Market: A Peek into Market Tiers III-146 Table 142: Leading Transformer Companies in India (2015): Percentage Breakdown of Production Capacities for ABB, Alstom, Baoding Tianwei, BHEL, Crompton Greaves, Siemens, TBEA, Transformers and Rectifiers India, and Others (includes corresponding Graph/Chart)..............III-147 Major Distribution Transformer Companies in India: Snapshot Profiles.............. III-147 ABB Ltd............... III-147 Alstom Power.............. III-148 Crompton Greaves..............III-148 Danish Private Limited..............III-148 Kirloskar Electric Company Limited III-148 Gujarat Transformers Pvt. Ltd. III-148 Kotsons Pvt. Ltd...............III-149 Schneider Electric..............III-149 Siemens Energy..............III-149 Transformers and Rectifiers India Ltd. III-149 Urja Techniques (India) Pvt. Ltd. III-149 Uttam Bharat.............. III-149 India Growing Into a Major Global Export Hub for Transformers III-149 CRGO Supply Bottlenecks Constrain Domestic Producers III-150 Overseas Players Keenly Eye Indian Shores, Market Headed for Consolidation..............III-150 Local Players Turn to Government to Shield Market from Threat of Cheap Imports..............III-151 Domestic Players Call for Higher Government Investment into RDTandE Infrastructure and Branding III-151 UHVAC Transformers: An Emerging Lucrative Segment for OEMs III-152 Strategic Corporate Developments III-152 Select Key Players..............III-153 B.Market Analytics..............III-157 Table 143: Indian Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-157

Table 144: Indian Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-158

Table 145: Indian 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-159

Table 146: Indian Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-160

Table 147: Indian Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart).............. III-161

Table 148: Indian 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart) III-162

5c. REST OF ASIA-PACIFIC..............III-163 A.Market Analysis.............. III-163 Focus on Select Regional Markets III-163 Australia and New Zealand..............III-163 Governing Bodies and Industry Standards III-163 Table 149: Australian Current and Proposed Specification for MEPS and HEPS for Oil-filled Transformers III-164 Afghanistan.............. III-165 Bangladesh.............. III-165 Hong Kong.............. III-165 Singapore.............. III-165 Table 150: Singapore Minimum Efficiency Standards for Oil-filled Distribution Transformers for Voluntary Green Building Certification..............III-166 Regulatory Scenario in the South Korea III-166 Table 151: South Korean MEPS and TEPS Specifications for KSC 4316 and KSC 4317 Type Oil-filled Low Voltage Distribution Transformers..............III-167 Thailand.............. III-168 Taiwan.............. III-169 Vietnam.............. III-169 Table 152: Vietnamese MEPS for 3-Phase Oil-filled Transformers.............. III-169 Corporate Development..............III-170 Select Key Players..............III-170 B.Market Analytics..............III-173 Table 153: Rest of Asia-Pacific Recent Past, Current and Future Analysis for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart).............. III-173

Table 154: Rest of Asia-Pacific Historic Review for Distribution Transformers by Equipment Class - Dry Type and Oil Filled Transformer Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-174

Table 155: Rest of Asia-Pacific 14-Year Perspective for Distribution Transformers by Equipment Class - Percentage Breakdown of Dollar Sales for Dry Type and Oil Filled Transformer Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart)..............III-175

Table 156: Rest of Asia-Pacific Recent Past, Current and Future Analysis for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-176

Table 157: Rest of Asia-Pacific Historic Review for Distribution Transformers by Application - Utility and Non-Utility Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2009 through 2014 (includes corresponding Graph/Chart) III-177

Table 158: Rest of Asia-Pacific 14-Year Perspective for Distribution Transformers by Application - Percentage Breakdown of Dollar Sales for Utility and Non-Utility Markets for Years 2009, 2016 and 2022 (includes corresponding Graph/Chart).............. III-178

6. LATIN AMERICA.............. III-179 Market Analysis.............. III-179 Table 159: Latin American Recent Past, Current and Future Analysis for Distribution Transformers by Geographic Region - Brazil and Rest of Latin America Markets Independently Analyzed with Annual Revenues in US$ Thousand for Years 2015 through 2022 (includes corresponding Graph/Chart) III-179

Table 160: Latin American Historic Review for Distribution Transformers

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