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Dry Type Transformer Market Size By Winding (Two Winding, Auto Transformer), By Application (Industries, Inner-City Substation, Indoor/Underground Substation, Renewable Generation), Core, Technology, Insulation, MVA Rating, Mounting, 2023 - 2032

  • Report ID: GMI2235
  • Published Date: Mar 2023
  • Report Format: PDF

Dry Type Transformer Market Size

Dry Type Transformer Market size valued at USD 13 billion in 2022 and is projected to expand at more than 9% CAGR from 2023 to 2032, due to the rising emphasis on grid modernization and electrification.
 

To enhance grid flexibility and the resilience of power systems, federal investment in critical electricity transmission and distribution infrastructure is increasing. Through various investments, governments worldwide are planning transformative projects to foster grid reliability. Moreover, favorable regulatory policies to drive investment in grid infrastructure refurbishment projects are being introduced, proliferating the use of dry-type transformer components.
 

Dry Type Transformer Market

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Likewise, government bodies have implemented favorable regulatory reforms pertaining to rural area electrification. The escalating power demand from residents and businesses, along with the rapid modernization of existing power networks, will augment dry type transformer installation to meet medium- and small-voltage power needs. However, the high initial investment costs and the rise in product replacement prices may inhibit industry expansion to some extent.
 

Dry Type Transformer Market Analysis

Dry type transformer market size from the vacuum pressure impregnated product segment is anticipated to cross USD 13 billion by 2032, owing to the emphasis on aging power grid replacement. Vacuum pressure impregnated dry transformers operate at high voltage and their minimally flammable insulation is formed of strips and foils. This insulation improves the product’s impermeability and moisture-resistance since it is composed of Class H polyester resin. The strong focus on power network upgradation will therefore accelerate the production of vacuum pressure-impregnated dry-type transformers.
 

 

Dry Type Transformer Market Share By Rating

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In terms of rating, the dry type transformer market from > 5 MVA to ≤ 30 MVA segment surpassed around USD 5 billion in 2022, given the increasing grid network modernization and commercial establishment expansion. In November 2022, the White House announced grant applications of USD 13 billion under the bipartisan infrastructure bill to modernize U.S. electric grid. Furthermore, the mounting energy demand will contribute to the large-scale development of grid networks and in turn, fuel the adoption of > 5 MVA to ≤ 30 MVA dry transformers.
 

 

Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of dry type transformer crossed USD 13 billion in 2022 and will exhibit more than 9% gains through 2032, owing to the rising emphasis on grid modernization and electrification.

The vacuum pressure impregnated product segment will surpass USD 13 billion by 2032, due to the emphasis on aging power grid replacement.

The Europe market is anticipated to depict over 9% CAGR from 2023 to 2032, on account of the surging electricity demand and renewable energy integration.

Some of the key players functioning in the global industry are WEG, Fuji Electric Co., Ltd., Raychem RPG Private Limited, Toshiba Energy Systems & Solutions Corporation, Hitachi Energy Ltd., Schneider Electric, Eaton, and ABB, among others.

Dry Type Transformer Market Scope

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  • Base Year: 2022
  • Companies covered: 16
  • Tables & Figures: 1805
  • Countries covered: 24
  • Pages: 800
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