DUBLIN--(BUSINESS WIRE)--The "Bangladesh Transformer Market Outlook 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The market would register significant growth in revenues owing to increasing power consumption and growing renewable energy production.
Three phase oil transformers would be the fastest growing segment. The government has increased its power budget under the 8th Five Year Plan and is constantly working to upgrade the transmission and distribution infrastructure of the country and expand its grid system with plans like the Power System Master Plan and Energy Efficiency and Conservation Master Plan 2030.
Due to the outbreak of COVID-19 pandemic, the market has registered a minimal decline of 5-10% as most of the projects of the government are pre- scheduled and continued as usual. However, the demand from private sector registered a decline in the year 2020.
According to the publisher, Bangladesh Transformer Market revenue size is projected to grow at a CAGR of 6.8% during 2022-2028F. The Bangladesh government has implemented programmes to improve the power supply network in the country, with plans like Power System Master Plan 2016 and Energy Efficiency and Conservation Master Plan 2030 that is focused towards increasing the electricity generation capacity of the country over the coming years which would create ample opportunities for power & distribution transformers market in Bangladesh.
The government plans to generate 4100 MW of electricity through renewable sources by 2030 from current capacity of 780 MW in 2021. The upcoming construction projects such as Rooppur Nuclear Power Plant, Padma Bridge, Dhaka Metro among many others require the installation of transformers to achieve higher efficiency for meeting the increased electricity consumption thereby driving the aforesaid market over the forthcoming period.
Bangladesh Transformer Market Analysis, By types
In terms of market revenue share by types, 'three phase oil transformers have captured around 69% of the market revenues for the year 2021 as power utilities are the largest buyers of transformers in Bangladesh and three phase oil transformers are mostly used for distribution purposes in urban areas.
Bangladesh Transformer Market Analysis, By private vs government application
The government segment accounted for around 72% of the market revenue share for the year 2021 owing to the large number of ongoing power distribution network expansion projects throughout Bangladesh in order to achieve 100 percent electricity coverage targets. However, the burgeoning construction sector coupled with the development of commercial, industrial and healthcare sectors would bolster the demand from the private sector over the coming years.
Bangladesh Transformer Market Analysis, By regions
Central region held the maximum revenue share in the overall market for the year 2021 owing to the presence of large-scale industrial and commercial projects in Dhaka. Some of the ongoing projects such as the Dhaka metro rail project, Padma Rail Link project and the development of textile industry, hotel chains and hospitals in the central region would bolster the demand for transformers in the central region on account of the requirement of continuous power supply for all these developments.
Key Highlights of the Report
- Bangladesh Transformer Market Size
- Bangladesh Transformer Market Outlook
- Bangladesh Transformer Market Forecast
- Bangladesh Transformer Market Growth
- Historical Data and Forecast of Bangladesh Transformer Market Revenues for the Period 2018-2028F
- Historical Data and Forecast of Revenues, By Types, KVA Ratings, Applications and Regions for the Period 2018-2028F
- Market Drivers and Restraints
- Bangladesh Transformer Market Trends and Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- Bangladesh Transformer Market Share Ranking, By Company
- Bangladesh Transformer Market - Impact of COVID-19
- Bangladesh Transformer Market - Analysis of Domestic Production and Imports
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Bengal Telecommunication & Electric Corp. (Pvt.) Ltd.
- EDISON Power Bangladesh Ltd.
- Electro Power Engineering Ltd
- Energypac Engineering Ltd.
- General Electric Manufacturing Company Limited
- Powermann Bangladesh Limited
- POWERtrac Group
- Transpower Engineering Limited
- TS Transformers Limited
- Vicar Electricals Ltd
Market Scope and Segmentation
By Type
- Single Phase-oil
- Three Phase-oil
- Dry
By KVA Ratings (For Single Phase-oil)
- 10 KVA
- 15 KVA
- 25 KVA
- 5 KVA
- 50 KVA
By KVA Ratings (For Three Phase-oil)
- 50 KVA - 15 MVA
By KVA Ratings (For Dry)
- Up to 500 KVA
- 630-2500 KVA
- Above 2500 KVA
By Applications
- Government
- Private
By Regions
- Northern region
- Southern region
- Central region
For more information about this report visit https://www.researchandmarkets.com/r/hyd6x1
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