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According to a research report "Distribution Transformer Market by Mounting (Pad, Pole, Underground), Phase (Three and Single), Power Rating (Up to 0.5 MVA, 0.5-2.5 MVA, 2.5-10 MVA, Above 10 MVA), Insulation(Oil Immersed, Dry), End User and Region - Global Forecast to 2029″, the market size for distribution transformers is projected to reach approximately USD 24.9 billion by the year 2029, as compared to the estimated value of USD 18.5 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 6.1% over the forecast period. The global distribution transformer market is fueled by a confluence of factors driving growth and shaping industry trends. The need for reliable and efficient power delivery necessitates investments in expanding power grids to reach new consumers and upgrading aging infrastructure. This translates to a demand for new distribution transformers across various regions. As the global population rises and economies develop, the overall demand for electricity is steadily increasing. This necessitates an expansion of distribution networks and transformers to cater to the growing power needs of residential, commercial, and industrial sectors.