India 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 & Forecast, 2023 – 2032

India Dry Type Transformer Industry Analysis

India Dry Type Transformer Market size surpassed USD 716 million in 2022 and is anticipated to grow at a CAGR of 9.6% from 2023 to 2032. With increasing environmental concerns and energy efficiency regulations, there has been a rising demand for energy-efficient transformers, including dry type transformers. Paradigm shift towards renewable energy sources including wind and solar power, has contributed to the product demand. The market for dry type transformers is expected to cross USD 33 billion by 2032.
 

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Dry type transformers are known for their enhanced safety features compared to oil-filled transformers. This aspect has led to increased adoption in applications where safety is a primary concern, such as residential and commercial buildings, hospitals, and schools. Rapid urbanization, particularly in emerging economies, is driving the need for reliable and efficient electrical infrastructure.

COVID-19 Impact

The pandemic caused significant disruptions in global supply chains due to lockdowns, travel restrictions, and temporary closures of manufacturing facilities. These disruptions led to delays in the production and delivery of the product, affecting the India dry type transformer market growth. The construction industry experienced a slowdown during the pandemic due to restrictions on non-essential projects and social distancing measures. Since these transformers are commonly used in construction projects, the decreased construction activity had a negative impact on the industry demand. However, dry type transformers, being more environmentally friendly than oil-filled transformers, are expected to witness increased demand as companies strive to lower their carbon footprint.
 

India Dry Type Transformer Industry Trends

The India dry type transformer market is experiencing technological advancements aimed at improving efficiency, reducing losses, and enhancing overall performance. Manufacturers are investing in research and development to develop innovative designs, materials, and cooling techniques to meet the evolving needs of the industry. Rapid urbanization, particularly in emerging economies, is driving the need for reliable and efficient electrical infrastructure. India has been investing heavily in expanding its power generation capacity to meet the growing electricity demand. The government's focus on renewable energy and initiatives like the National Solar Mission has further fueled the demand for dry type transformers.
 

India Dry Type Transformer Core Segmentation

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The closed core segment crossed USD 425 million revenue of the India dry type transformer market in 2022. Closed-core dry type transformers are known for their compact and enclosed design, which allows for easy installation in areas with limited space. As urbanization continues and the need for efficient space utilization grows, the demand for closed-core transformers has increased. These transformers are designed with enhanced safety features to minimize the risk of fire or environmental hazards. They are self-extinguishing and have improved resistance to fire, which makes them suitable for applications where safety is a primary concern, such as residential buildings, hospitals, schools, and data centers.
 

India Dry Type Transformer Technology Segmentation

Air blast dry type transformers are suitable for high-power applications where efficient cooling is crucial. As industries including manufacturing, mining, and renewable energy continue to grow, the demand for high-power transformers, including air blast dry type transformers, has increased. The renewable energy sector, particularly wind power, has witnessed significant growth in recent years. Air blast dry type transformers are well-suited for wind turbine installations due to their ability to withstand harsh environmental conditions and provide efficient cooling. The expanding renewable energy market has contributed to the demand for air blast dry type transformers.
 

India Dry Type Transformer Insulation Segmentation

Class B dry type transformers are designed to operate in high-temperature environments, making them suitable for applications where temperature fluctuations are significant. Industries such as steel, oil and gas, and chemical manufacturing often require transformers that can withstand elevated temperatures, leading to an increased Class B dry type transformer market demand in India.
 

India Dry Type Transformer Product Segmentation

Open wound dry type transformers are designed with exposed windings to facilitate better heat dissipation and cooling. This design allows for improved airflow around the windings, resulting in more efficient cooling and thermal management. The demand for open wound dry type transformers has augmented in applications where effective cooling is crucial.
 

India Dry Type Transformer Winding Segmentation

Energy efficiency is a key consideration in the transformer market, and two-winding dry type transformers are designed to offer improved energy efficiency. These transformers have lower losses compared to traditional oil-filled transformers, resulting in reduced energy consumption and operating costs. As energy efficiency regulations become more stringent and industries seek sustainable solutions will influence the energy-efficient two-winding dry type transformer market growth in India has been increasing.
 

India Dry Type Transformer Rating Segmentation

The transition to renewable energy sources, including wind and solar power, has created a need for > 30 MVA dry type transformers. These transformers play a vital role in connecting renewable energy installations to the power grid by stepping up the voltage for efficient transmission. As the adoption of renewable energy projects continues to grow, the large-scale dry type transformer market is expected to expand.
 

India Dry Type Transformer Mounting Segmentation

Pad-mounted dry type transformers are commonly used in urban areas where underground power distribution systems are prevalent. As urbanization continues and the need for efficient power distribution grows, the demand for pad-mounted transformers has increased. These transformers are designed for outdoor installation and are compact, tamper-proof, and aesthetically pleasing.
 

India Dry Type Transformer Application Segmentation  

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India dry type transformer market from industries segment held a dominant revenue share of more than 42% in 2022. The increasing emphasis on integrating wide-ranging frequency distribution links and the growing concerns for energy efficiency are expected to stimulate the demand for dry-type transformers across industrial applications. Additionally, the rising demand for ultra-high voltage networks is anticipated to further boost the demand for these transformers. Moreover, increasing investments by private and governmental organizations in developing countries for electrification programs will also contribute to the business growth. These factors collectively indicate positive market trends and potential opportunities in the industry.
 

India Dry Type Transformer Industry Leaders 

Some of the major market players operating across the India dry type transformer market are ABB, GE, Eaton, Schneider Electric, Siemens Energy, Hitachi Energy Ltd., CG Power & Industrial Solutions Ltd., Toshiba Energy Systems & Solutions Corporation, Bharat Heavy Electricals Limited (BHEL), URJA Techniques. These companies focus on mergers and strategic partnerships for market expansion. Furthermore, these participants are increasingly investing in research & development activities, which enable them to introduce innovative services and garner maximum revenue in the market.
 

India Dry Type Transformer Industry News:

• In April 2022, Siemens Energy announced the launch of its latest CAREPOLE, a dry type of pole mounted transformer, in the America grid market. It was designed for pole application, which includes single phase with power rating capacities from 10 kVA to 100 kVA and a voltage level up to 36 kV. This new transformer provides longer lifetime, enhanced eco-friendliness, and fewer outages, making it a unique & alternate solution to oil-filled transformers.
   

The India dry type transformer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in ‘000 Units and USD Million from 2019 to 2032, for the following segments:

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Market, By Core

• Closed
• Shell
• Berry

Market, By Technology

• Self Air
• Air Blast

Market, By Insulation

• Class R
• Class H
• Class F
• Class B
• Class A

Market, By Product

• Open Wound
• Cast Resin
• Vacuum Pressure Impregnated
• Vacuum Pressure Encapsulated

Market, By Winding

• Two Winding
• Auto Transformer

Market, By Rating

• ≤ 5 MVA
• > 5 MVA to ≤ 30 MVA
• > 30 MVA

Market, By Mounting

• Pad
• Pole
• Others

Market, By Application

• Industries
• Inner-City Substations
• Indoor/Underground Substations
• Renewable Generation
• Others