Global Dry Type Transformer Market was valued US$ 5.40 Bn in 2017 and is estimated to reach US$ 9.45 Bn by 2026 at a CAGR of about 6.33% during the forecast period.
Rapid technological enhancements adhered by drifting propensities toward the replacement of conventional insulation techniques will drive the Dry Type Transformer Market. The technology because of its environmental credibility has gained immense proliferation in the recent years. Elimination of leakage & spills along with exceptional performance across extreme climatic conditions will stimulate product adoption. In addition, effective resistivity to surges and short circuits coupled with operational safety across indoor installations will positively influence the industry growth.
The demand for electricity is growing because of expanding commercial and industrial establishments and increasing usage of electrical appliances. The dry-type transformers are eco-friendly products, and it has safety advantages over wet-type transformers, which is a big boost to its market. Increasing investments in the transmission and distribution networks in countries, such as India and China, provides a tremendous opportunity for dry-type transformers market during the forecast period. Countries in the Middle East & African region, like Iran and Saudi Arabia, are also investing in the expansion and restructuring of power grids, which increases the growth prospects of the Dry Type Transformer Market.
Closed core market had the highest market share in 2017. Low iron losses & flux leakage along with sustainable mechanical properties will fuel the closed core market of dry type transformer. Growing inclinations toward operational flexibility coupled with effective applicability across low & medium electric networks will escalate product penetration. Rapid urbanization adhered by the ongoing expansion of smart grid networks will positively influence the product landscape.
Self air dry type transformer market is expected to witness growth of over 10% by 2026. The technology has gained significant penetration subject to its lower cost estimates coupled with ease of replacement and maintenance. Moreover, lower failure rates, improved efficiency, and effective voltage regulation are few indispensable parameters which will positively impact the product adoption.
North America dry type transformer market accounted for the highest revenue in 2017 and is projected to grow at a significant rate during the forecast period. The industry in U.S. is extensively driven by ongoing upscaling and refurbishment demand for existing grid networks across the nation. Favorable regulatory reforms to ensure grid sustainability coupled with rapid deployment of smart monitoring and control units will positively influence the industry outlook.
Some of the key players in the dry type transformer market are CG, WEG, ABB, Schneider, Siemens, Meramec, GE, Raychem, Fuji Electric, ITEC, KONCAR, EATON, Abaft, Toshiba, TRENCH, BHEL, Kirloskar, Voltamp, Mehru, Ruhstrat, and Celme.
The Scope of the Global Dry Type Transformer Market
Global Dry Type Transformer Market By Core:
Global Dry Type Transformer Market By Technology:
Global Dry Type Transformer Market By Insulation:
• Class R
• Class H
• Class F
• Class B
• Class A
Global Dry Type Transformer Market By Product:
• Open Wound
• Cast Resin
• Vacuum Pressure Impregnated
• Vacuum Pressure Encapsulated
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