The global dry transformer market is expected to grow at a CAGR of 5.14% during the forecast period. Dry type transformer does not utilize liquid where it is winding with core be immersed. Rather windings with core are kept in a sealed tank that is pressurized with air.
Increase demand for the energy across the globe driving the growth of the market. The robust growth in the economy and the population have led to the upsurge in power consumption. Hence, many countries across the globe are escalating and upgrading their electric grid infrastructure, to achieve the growing demand. These developments are expected to provide the vital groundwork for dry transformer market. Additionally, the features such as lightweight, low installation and maintenance cost also have a positive influence on the growth of the market.
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Segmental Overview
MRFR’s report also includes a detailed segmental analysis of the market based on phase type, type, application and voltage range.
On the basis of phase type, the market has been segmented into single-phase and three-phase.
On the basis of vacuum pressure impregnated and cast resin. Cast resin transformer (CTR) is usually used in area with high level of humidity. The mechanism of CRT is indented for enduring high moisture environment. This allows effective working of transformers. Meanwhile, vacuum pressure impregnated transformer (VPI) is intended for high heat resistance. The components used in making VPI are minimum flammable. Most VPI windings have a continuous layer of foil and strip.
On the basis of application, the market has been segmented into commercial, industrial and others.
On the basis of voltage range, the Dry Transformer Market has been segmented into medium voltage and low voltage. For developing low voltage transformers, vacuum pressure impregnation (VPI) technology is usually preferred, however in certain situations this may not be the case depending on the application. Low voltage transformer find application in industrial, residential and commercial settings.
Dry Transformer Regional Industry Analysis
On the basis of region, the market has been segmented into Europe, Asia Pacific, North America and Rest of the World (RoW).
Asia Pacific (APAC) dominates the global dry transformer market. Furthermore, the APAC dry transformer market is expected to exhibit a strong CAGR during the assessment period. Electricity consumption has continued to grow in Asia, which is mainly driven by the rapid urbanization and industrialization in countries such as India and China. The energy sector in the region has been under constant pressure of increasing capacity. This has prompted local policy makers to increase efforts to develop robust electricity generation and supply systems. The region is home to two of the most densely populated countries that post tremendous demand for electricity. Such trends are boding well for the market in the region.
North America holds the second spot in the global dry transformer market in terms of value. The U.S. government, in recent years, has invested significantly in upgradation of power grids and electricity supply infrastructure. This has continued to fuel the demand for advanced transformer systems in the U.S. In North America, dry transformer market is expected to witness a steady growth in the region during the assessment period.
Europe is also viewed as an important market for dry transformer and is expected to make a noteworthy contribution to the global market. Countries such as Germany, the U.K., Netherland and France are likely to present lucrative opportunities to market players.
Competition Analysis
Some of the companies mentioned in the report ABB Ltd. (Switzerland), General Electric (U.S.), Schneider Electric (France), Eaton Corporation (Ireland), Voltamp Transformer Ltd. (India), Hammond Power Solution Inc. (Canada), Kirloskar Electric Company (India), Siemens AG (Germany), Kotsons Pvt. Ltd (India), Jinpan International Ltd.(China), Crompton Graves Ltd. (India), TBEA Transformer Industrial Group (China) and Virginia Transformer Corp (U.S).
Scope of the Report
The market is characterised by presence a large number of midsized and large sized companies. This makes the market highly competitive. In order ensure long-term sustenance, market players are engaging in activities such as collaboration and partnerships which is beneficial for their brands. Merger and acquisition activities are also expected to remain a prominent industry trend during the assessment period. Companies are implementing aggressive growth strategies to consolidate the market footprint. Many market players are ramping up investment in research & development pipelines to drive product novelty.
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