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India Dry Type Transformer Market Size

Report ID: GMI2402
Published Date: Jun 2023
Report Format: PDF

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India Dry Type Transformer Market Size

India Dry Type Transformer Market size surpassed USD 640.3 million in 2023 and is anticipated to grow at a CAGR of 7.3% from 2024 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.

India Dry Type Transformer Market Report Attributes
Report Attribute	Details
Base Year:	2023
India Dry Type Transformer Market Size in 2023:	USD 640.3 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.3%
2032 Value Projection:	USD 1.2 Billion
Historical Data for:	2019 to 2023
No. of Pages:	120
Tables, Charts & Figures:	101
Segments covered:	Core, Technology, Insulation, Product, Winding, Rating, Mounting, Application
Growth Drivers:	Large-scale renewable integration Increasing demand for electricity
Pitfalls & Challenges:	High initial cost

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Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of India dry type transformer exceeded USD 640.3 million in 2023 and is anticipated to grow at a CAGR of 7.3% from 2024 to 2032, owing to the rising product usage in renewable energy installations due to their ability to operate in harsh environments and their higher resistance to moisture and contaminants.

The closed core segment held a majority industry value of over USD 425 million in 2022. Rapid urbanisation and need for efficient space utilization are boosting production adoption as these transformers are known for their compact and enclosed design.

The industries segment held a share of more than 42% in 2022. The increasing emphasis on integrating wide-ranging frequency distribution links and the increasing concerns for energy efficiency are stimulating the demand for dry type transformers across industrial applications.

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 among others.