Dry Type Transformer Market

Dry Type Transformer Market worth $9.2 billion by 2028

According to a research report "Dry Type Transformer Market by Technology (Cast Resin, Vacuum Pressure Impregnated), Voltage (Low (<1 kV), Medium (1–36 kV), High (Above 36 kV)), Phase (Single, Three), Application (Industrial, Commercial, Utilities) Region - Global Forecast to 2028" published by MarketsandMarkets, the global dry type transformer market is projected to reach USD 9.2 billion by 2028 from an estimated USD 6.6 billion in 2023, at a CAGR of 6.8% during the forecast period. Countries across the globe continue to invest in upgrading and expanding their electrical grids to meet the rising energy demand and integrate renewable energy sources. Surging demand for energy efficient and reliable transformers is expected to drive the growth of dry type transformer market. Dry type transformers are known for their safety, energy efficiency, and environmental friendliness, are poised to play a pivotal role in this transformative process. Moreover, the focus on safety and environmental responsibility is driving industries and utilities to opt for equipment that minimizes risks associated with oil leaks, fires, and environmental pollution. Dry type transformers being inherently safer due to their lack of flammable liquids align seamlessly with these priorities. The global expansion of electrical infrastructure presents lucrative opportunities for the growth of the dry type transformer market and the companies involved in producing and providing these transformers. However, the risks associated with higher cost and lower power ratings of the dry type transformer as compared to oil-filled transformers have hindered the growth of the market in recent years and are expected to restrain the market's growth during the forecast period.

Browse 194 market data Tables and 59 Figures spread through 192 Pages and in-depth TOC on "Dry Type Transformer Market by Technology (Cast Resin, Vacuum Pressure Impregnated), Voltage (Low (<1 kV), Medium (1–36 kV), High (Above 36 kV)), Phase (Single, Three), Application (Industrial, Commercial, Utilities) Region - Global Forecast to 2028"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/dry-type-transformer-market-193779200.html

The Vaccum Pressure Impregnated, by technology, is expected to grow at the highest CAGR during the forecast period.

Based on technology, the dry type transformer market has been split into cast resin, and vaccum pressure impregnated. Vaccum Pressure Impregnated are expected to grow at the highest CAGR during the forecasted period. Vaccum Pressure Impregnated increases the dielectric strength of insulating materials, hence lowering the risk of electrical breakdown and enhancing the overall performance and reliability of electrical equipment. The most prevalent technology of the dry type transformer system is the cast resin. Cast Resin Technology assists lower transformer noise levels due to winding encapsulation, making it ideal for noise-sensitive areas. Hence, it is expected to hold the largest share in the technology segment of dry type transformer market.

The Industrial segment, by application, is expected to be the largest segment during the forecast period.

This report segments the dry type transformer market based on application into four segments: Industrial, Commercial, Utilities, and Others. The industrial segment is expected to be the largest segment during the forecast period. In industrial plants, dry type transformers are often used to step down voltage levels and transmit power to machinery, equipment, and production lines. Their versatility for indoor installations makes them even more desirable in industries where space tends to be limited.

Asia Pacific is expected to be the largest region in the dry type transformer market.

Asia Pacific is expected to be the largest dry type transformer market during the forecast period. The Asia Pacific region comprises major economies such as China, India, Japan, and South Korea. The dry type transformer market in Asia Pacific is primarily fueled by the significant investments for expanding the number of substations owing to meet the electricity demand coupled by the robust growth in industrial and commercial sectors. Electricity shortage is expected to support market grow in Asia Pacific as it can attribute to the increasing demand for power leading to installations of transmission & distribution infrastructure. The region is investing extensively in renewable energy sources such as solar and wind power. Dry type transformer are utilised to connect various energy sources to the grid, ensuring efficient power distribution.

Some of the major players in the dry type transformer market are Schneider Electric (France), Siemens Energy (Germany), Hitachi, Ltd. (Japan), Eaton (Ireland), TOSHIBA CORPORATION (Japan). The major strategies adopted by these players include new product launches, acquisitions, contracts, agreements, partnerships, and expansions.

Don’t miss out on business opportunities in Dry Type Transformer Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Dry Type Transformer Market Size,  Share & Growth Report
Report Code
EP 3737
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Dry Type Transformer Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status

Digital Virtual Assistant - MarketsandMarkets