Pad-Mounted Transformer Market Trends And Growth Factors Analysis Upto 2030
Pad Mounted Transformer Market Overview: Global Pad-Mounted Transformer Market to grow at 5.14% CAGR from 2022 to 2030, with valuation of up to $2.02 billion from an estimated $1.38 Billion in 2019. A pad mounted transformer is a ground mounted electric power distribution transformer, locked in a steel cabinet mounted on a concrete pad. These transformers normally have features such as tamper-resistant construction, tamper proof bolts and screws, and lockable compartments with hinged doors. These transformers serve schools, hospitals, shopping centers, and many institutional and industrial applications. Growing investment in renewable sector is rigorously driving the global pad mounted transformer market. To lessen the dependence on conventional fossil fuels, several countries are focusing on renewable energy generation. Furthermore, the market is also driven by enhancements in process control, broad application of information technology to machinery, and technologica...