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North America Dry Type Transformer Market Size

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

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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.

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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.

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.