Global Dry Transformer Market by Application, Technology, Trends till 2023

Posted by Anvi on March 20th, 2020

Global Dry Transformer Market Overview

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.

Global Dry Transformer Industry Segmental Analysis

For this study, the global dry transformer market has been divided into four segments type, service, elevator technology, and end user. By phase type, the market has been segmented into Single-Phase, and Three-Phase. The single-phase transformers are usually used in commercial low voltage application as electronic devices. They operate as step down voltage transformer and decrease the home voltage value to the value suitable for electronics supplying. A three-phase transformer is a three-legged iron core. Each leg has a particular primary and secondary winding. This is a more expensive solution and is used in high power system.

Leading Players

The prominent players in the dry transformer market include Hammond Power Solution Inc. (Canada), ABB Ltd.(Switzerland), Siemens AG (Germany), General Electric (U.S.), Jinpan International Ltd.(China), Schneider Electric (France), TBEA Transformer Industrial Group (China), Eaton Corporation (Ireland), Crompton Graves Ltd. (India), Voltamp Transformer Ltd.(India), Virginia Transformer Corp (U.S), Kirloskar Electric Company (India), and Kotsons Pvt. Ltd (India).

Asia Pacific region dominates the global dry transformer market

Geographically, the global dry transformer market has been divided into four major regions as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region has accounted for the largest market share. Rapid industrialization and urbanization is the key factor driving the growth of the market in the region. Key players across the world are increasingly shifting their production facilities to cater the high potential markets in Asia Pacific, mainly due to the obtainability of low-cost labor and ample raw material stocks. This has the positive influence on the growth of the market. China, Japan, India, and Singapore are the major market in Asia Pacific region.

Europe is another major market for the dry transformer. Europe is developing an interconnected grid that can transfer electricity between countries in the region such as between the UK, Germany, Poland, France, and Sweden. In U.K, the current T&D infrastructure is old and has limited capacity for power transmission and distribution. Hence the country is investing more to the replacement of ageing infrastructure. This also increases the demand for dry transformers. The Middle East & Africa and South America are expected to show the significant growth during the forecast period.

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