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North America Dry Type Transformer Market Size - By Core (Closed, Shell, Berry), By Technology (Self Air, Air Blast), By Product (Open Wound, Cast Resin, Vacuum Pressure Impregnated), By Mounting (Pad, Pole), Insulation, Winding, Application & Forecast, 2023 – 2032

  • Report ID: GMI3176
  • Published Date: Aug 2023
  • Report Format: PDF

North America Dry Type Transformer Market Size

North America Dry Type Transformer Market size was valued at USD 2.8 billion in 2022 and is slated to exhibit over 8.6% CAGR from 2023 to 2032. The increasing adoption of renewable energy sources and the integration of distributed energy systems are driving the demand for dry type transformers that offer enhanced performance and safety.

North America Dry Type Transformer Market

Additionally, the growth of commercial and residential infrastructure, along with the modernization of existing power infrastructure, necessitates reliable and efficient transformers. The inherent fire-resistant and self-extinguishing properties of dry type transformers make them a preferred choice for applications where safety is paramount, further fueling market expansion. The rise of smart grids and the need for advanced grid infrastructure to accommodate evolving energy demands also contribute to the increased adoption of dry type transformers.

COVID-19 Impact

The North America dry type transformer market experienced a notable impact due to the COVID-19 pandemic. The initial disruptions in supply chains and manufacturing operations led to delays in project timelines and hindered new installations. Lockdown measures and economic uncertainties affected construction and infrastructure projects, dampening the demand for dry type transformers.

However, the pandemic also accelerated trends towards remote work, digitalization, and renewable energy adoption, which prompted ongoing investments in data centers, renewable energy projects, and grid modernization. As the region navigated through the crisis, the importance of reliable and resilient power distribution systems became evident, driving the need for efficient dry type transformers in critical applications. While short-term challenges were observed, the gradual recovery and adaptation to the new normal reaffirmed the market's potential for growth in alignment with changing energy dynamics and evolving infrastructure requirements.

North America Dry Type Transformer Market Trends

The North America dry type transformer market is characterized by several significant trends. The increasing emphasis on sustainability and environmental considerations is driving the adoption of dry type transformers due to their eco-friendly and fire-resistant properties compared to oil-filled counterparts. The transition towards renewable energy sources and the growth of distributed generation systems are fostering the demand for dry type transformers in solar and wind energy installations. The rise of smart grids and digitalization is pushing the integration of intelligent features in dry type transformers for better monitoring, control, and predictive maintenance.

Furthermore, urbanization and infrastructure development are propelling the requirement for reliable power distribution, boosting the utilization of dry type transformers in commercial buildings and industrial facilities. The market is also showcasing advancements in insulation materials and design, aiming to enhance efficiency and reduce energy losses, which is complementing the North America dry type transformer market.

North America Dry Type Transformer Market Analysis

North America Dry Type Transformer Market Size, By Core, 2021 - 2032, (USD Billion)

The transformers with shell core segment is forecast to attain 8.5% CAGR through 2032, owing to the increasing focus on energy efficiency and sustainability, which has led to a preference for dry type transformers over traditional oil-filled transformers due to their lower energy losses and reduced environmental impact. In addition, the modernization and expansion of power grids and distribution systems, coupled with the need for reliable power supply in commercial buildings and industrial facilities, are propelling the adoption of shell core dry type transformers.

North America Dry Type Transformer Market Revenue Share, By Technology, 2022

The dry type of distribution transformer held approximately 51% of the North America dry type transformer market share in 2022 and is anticipated to reach USD 3.3 billion by 2032, due to its ability to manufacture products at a competitive cost while offering operational feasibility that surpasses traditional alternatives. The increasing adoption of air blast transformers can be attributed to their ability to enhance the overall stability and efficiency of power distribution networks, making them a vital component in ensuring reliable electricity supply to various sectors.

The vacuum pressure impregnated dry type transformers market is estimated to expand at a 8.5% CAGR through 2032. Increasing concerns about energy security, coupled with a significant surge in energy consumption across developing economies, are slated to drive the North America dry type transformer market growth. The rapid expansion of grid infrastructure, in tandem with the remarkable growth of the renewable energy sector, provides a conducive environment for industry expansion. Positive trends favoring the expansion of micro-grid networks, along with the swift growth of utility-based renewable infrastructure, are expected to further contribute to the industry's growth trajectory.

The auto transformers segment is likely to observe gains at nearly 8.5 % up to 2032. Auto-transformers present a cost-effective alternative to traditional transformers, demanding fewer materials and components, which ultimately leads to reduced manufacturing and installation expenses. This affordability positions auto-transformers as a favored option in scenarios where cost is a pivotal factor. Additionally, their elevated efficiency, stemming from a single winding serving both primary and secondary sides, sets them apart from conventional transformers. This configuration diminishes losses linked to individual windings and their interconnections, resulting in superior efficiency. The consequential reduction in energy losses contributes to enhanced system performance, subsequently facilitating the widespread adoption of this technology within the region.

Transformers with ≤ 5 MVA rating exceeded USD 1.4 billion in 2022 and is poised to grow at a CAGR of 7% till 2032, driven by their extensive utilization in process industries, power generation, and infrastructure sectors. The swift uptake of renewable energy sources in residential settings, combined with the rapid expansion of micro-grid networks, is set to impart a positive impact on the industry's trajectory. The increasing need for compact transformers suitable for indoor installations, alongside consumer sensitivity to cost, has motivated manufacturers to incorporate sustainable production practices. The ongoing global trend of residential expansion, coupled with rapid urbanization, is projected to significantly contribute to the expansion of the North America dry type transformer market.

The industrial sector captured around 40% of the market share in 2022 and is predicted to see 7.5% CAGR through 2032. The increasing focus on integrating diverse frequency distribution networks, coupled with a heightened emphasis on energy efficiency, is likely to drive the demand for dry-type transformers within industrial contexts. Moreover, the escalating requirement for ultra-high voltage networks is estimated to provide a significant impetus to the demand for this product. Notably, substantial investments by both private enterprises and governmental bodies in developing nations to advance electrification initiatives will further synergize with North America dry type transformer market expansion.

U.S. Dry Type Transformer Market Size, 2021 - 2032, (USD Billion)

U.S. dry type transformer market is anticipated to expand at 8% CAGR from 2023 to 2032. This trajectory is attributed to the ongoing revitalization of the nation's grid infrastructure, coupled with the escalating need for dependable energy supply across the nation. The U.S. has witnessed a robust surge in the demand for dry type transformers within the power sector, primarily propelled by heightened investments in the expansion of extensive electricity networks that span considerable distances. The mounting power load has underscored the necessity for system fortification to mitigate the risk of widespread power outages.

Consequently, the nation is directing its efforts towards the modernization and enhancement of existing transmission and distribution (T&D) frameworks, incorporating technologies that emphasize efficiency and cost-effectiveness. Anchored by a rigorous grid modernization framework and buoyed by financial support from state-owned utilities, the industry's growth trajectory is poised for acceleration.

North America Dry Type Transformer Market Share

Major players operating across the North America dry type transformer market include:

  • ABB
  • General Electric
  • Eaton
  • Schneider Electric
  •  Siemens Energy
  •  Hitachi Energy Ltd
  •  CG Power & Industrial Solutions Ltd
  •  Toshiba Energy Systems & Solutions Corporation
  •  Bharat Heavy Electricals Limited (BHEL)
  •  Instrument Transformer Equipment Corporation
  •  Fuji Electric Co.Ltd,
  • WEG,
  • TMC Transformers S.P.A

North America 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. This solution is an ideal solution for seamless operation, offering cost efficiency for the distribution of grid operators. Moreover, this solution strengthened the company’s dry type transformer portfolio along with augmenting its strong presence across the North America dry type transformer market.
  • In May 2020, SGB SMIT’s U.S. subsidiary, SGB USA, introduced a new transformer system, Vacuum Pressure Impregnated (VIP), a triangular core transformer, for the North America market. This system was an ideal solution for moderate to harsh environments and can be utilized outdoor (NEMA 3R) and indoor (NEMA 1) applications along with being used in most of the industrial & commercial applications. This transformer was designed for a rating up to 3,000 kVA, with the primary and secondary voltages ranging from 600 V – 27 kV and up to 1,000 V, respectively; it also has a 220°C insulation system. This innovation of the company proliferated the company’s dry-type portfolio in line with its market position across the North America market.

This North America dry type transformer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of ‘000 Units & 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

The above information has been provided for the following countries:

  • U.S.
  • Canada
  • Mexico


Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of dry type transformer in North America was exceeded USD 2.8 billion in 2022 and will reach over USD 6.6 billion by 2032, due to the heightened focus on energy efficiency, coupled with stringent environmental regulations worldwide.

North America dry type transformer market size from the shell core segment is expected to register 8.5% CAGR from 2022 to 2032, on account of increasing focus on energy efficiency and sustainability.

North America dry type transformer market size from the distribution transformer segment registered over 51% share in 2022, on account of its extensive deployment within electric networks.

ABB, General Electric, Eaton, Schneider Electric, Siemens Energy, Hitachi Energy Ltd., CG Power & Industrial Solutions Ltd., and Toshiba Energy Systems & Solutions Corporation.

North America Dry Type Transformer Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 420
  • Countries covered: 3
  • Pages: 345
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