Global Dry-type Transformer Market to Witness Stellar CAGR of 6.1% during FY 2021-2028

Posted April 26, 2022 by MarketResearch7

The global dry-type transformer market is anticipated to expand at a CAGR of 6.1% during the forecast period, 2021 – 2028. The growth of the market is attributed to its wide applicability in the distribution of electricity.
The global dry-type transformer market is anticipated to expand at a CAGR of 6.1% during the forecast period, 2021 – 2028. The growth of the market is attributed to its wide applicability in the distribution of electricity.

Transformers are electrical devices that transfer energy between two or more circuits through electromagnetic induction. ‘Dry type’ transformers refer to air-cooled devices that lack liquids to cool the electrical coils. Dry-type transformers have windings enclosed in sealed and pressurized tanks, and are air cooled. These transformers provide safety against fire and leakage, which also reduces environmental and health concerns. Fire-resistant dry-type transformers are best suited for high-rise buildings, underground tunnels, steel factories, hospitals, school, chemical plants, and other places where fire safety is of paramount importance.

Dry-type transformers have proven to be highly reliable owing to its minimal environmental deterioration. These transformers are characterized by no fire risk, light weight, less volume, and low installation and maintenance cost, which make these transformers advantageous over oil type transformers. Dry-type transformers are moisture proof and have better impulse and short circuit strength.

Market Trends, Drivers, Restraints, and Opportunities:
• Increasing percentage of renewable energy generation in the total electricity produced is expected to boost the dry-type transformers market.
• Expansion of electricity distribution network across the globe and rapid industrialization in developing countries are anticipated to propel the market growth.
• Growing population along with improvement in the lifestyle has increased the consumption of energy , which has positively impact the market growth.
• High cost, lack of investment by governments, complex construction of dry transformer, and number of losses is to hinder the market.
• Development of 3D core VPI transformer for the electric vehicle charging stations and increasing investments in the transmission and distribution (T&D) network are speculated to creates opportunities for the dry-type transformer market during the forecast period.

Global Dry-type transformers Market Segment Insights

Low voltage segment to account a major market share
Based on voltages, the market is divided into low voltage and medium voltage. The low voltage segment is anticipated to account for a major market share owing to its increasing use in low-voltage industrial applications and commercial and public buildings. Low voltage transformers are manufactured by vacuum pressure impregnation (VPI) technology, which further depends on the application.

Distribution transformer segment to hold a significant market share
Based on types, the global dry-type transformers market is segmented into power transformer and distribution transformer. The distribution transformer segment is expected to hold a significant market share in the projected timeline. Distribution transformer are designed to offer maximum efficiency at lower loads. Voltage regulation in these transformers are kept minimum, in order to improve efficiency. This type of transformer has various applications, ranging from residential building to small commercial complexes.

Single phase segment to dominant the market share
Based on end phases, the market is segregated into single phase and three phase. The single phase segment is speculated to dominant the market share owing to its large-scale adoption in low voltage distribution applications. On the other hand, the three phase segment is expected to grow at a steady rate in the coming years.

Industrial segment to hold a considerable market share
Based on applications, the global dry-type transformers market is classified as industrial, commercial, and others. The industrial segment accounted for a considerable market share in 2020 owing to its large-scale adoption in marine, chemical, oil & gas, renewable energy generation, and railway, among others. Key manufacturers focus on providing specialized transformers suited for each application.

Asia Pacific to dominant the market share
Based on the regions, the global dry-type transformers market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominant the market share owing to the growing industrialization and urbanization. The major factors such as presence of highly populated countries such as India and China and new electrification projects in industrial, commercial, and infrastructure sectors are driving the regional market growth.

Compititive Landscape
The key players operating in the global dry-type transformers market includes Siemens AG, Schneider Electric SE, TBEA, Hammond Power Solutions, and Crompton Greaves Limited.

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Tags drytype transformer market , drytype transformer market cagr , drytype transformer market share , drytype transformer market size , europe , south america , usa
Last Updated April 26, 2022