U.S. Dry Type Transformer Market Size - By Winding (Two Winding, Auto Transformer), Application (Industries, Inner-City Substation, Indoor/Underground Substation, Renewable Generation), Core, Technology, Insulation, MVA Rating, Mounting & Forecast, 2024 – 2032

U.S. Dry Type Transformer Market Size

U.S. Dry Type Transformer Market was valued at USD 2.1 billion in 2023 and is anticipated to grow at a CAGR of 8% between 2024 and 2032. Due to escalating environmental concerns and the implementation of energy efficiency regulations, there is a growing market for energy-efficient transformers, particularly dry-type transformers.
 

Dry-type transformers offer several advantages, including reduced energy losses and a smaller environmental footprint when compared to traditional oil-filled transformers. There has been a notable shift in focus towards renewable energy sources like wind and solar power, further driving the demand for dry-type transformers. These transformers have become a preferred choice in renewable energy installations due to their capacity to operate effectively in challenging environmental conditions and their heightened resilience to moisture and contaminants.
 

Dry-type transformers are renowned for their advanced safety attributes when compared to oil-filled transformers. They possess self-extinguishing properties, mitigating the fire risks associated with oil-filled transformers. This particular feature has resulted in a heightened adoption of dry-type transformers in applications where safety is paramount, including residential and commercial buildings, healthcare facilities, and educational institutions such as schools.
 

The phenomenon of rapid urbanization, particularly evident in emerging economies, is fueling the demand for dependable and efficient electrical infrastructure. Dry-type transformers are the preferred choice in urban areas due to their compact dimensions, reduced maintenance needs, and capacity to be installed in close proximity to load centers.
 

COVID-19 Impact

The COVID-19 pandemic had a profound impact on global supply chains, causing significant disruptions. Lockdowns, travel restrictions, and temporary shutdowns of manufacturing facilities resulted in production and delivery delays for dry-type transformers, ultimately affecting U.S. dry-type transformers market growth. The construction industry experienced a slowdown during the pandemic, mainly due to restrictions on non-essential projects and the implementation of social distancing measures.
 

Since dry-type transformers are commonly used in construction projects, the reduced construction activity had an adverse effect on the demand for these transformers. However, it's worth noting that dry-type transformers are considered more environmentally friendly than oil-filled transformers. This environmentally conscious shift in various industries to reduce carbon footprints is expected to drive increased demand for dry-type transformers in the future, despite the challenges posed by the pandemic.
 

U.S. Dry Type Transformer Market Trends

The dry-type transformer industry is currently witnessing significant technological advancements aimed at enhancing efficiency, reducing losses, and improving overall performance. Manufacturers are making substantial investments in research and development to create innovative designs, materials, and cooling techniques that align with the evolving needs of the industry. The phenomenon of rapid urbanization, particularly prominent in emerging economies, is a key driver for the demand for reliable and efficient electrical infrastructure.
 

Dry-type transformers are increasingly preferred in urban areas due to their compact dimensions, reduced maintenance requirements, and the ability to be installed in close proximity to load centers. Dry-type transformers find widespread use in power generation stations, including renewable energy installations like wind and solar farms. The government's strong focus on renewable energy, coupled with initiatives, has further bolstered the demand for dry-type transformers in the country.
 

U.S. Dry Type Transformer Market Analysis

The closed core dry-type transformer market dominated around USD 880 million revenue in 2022. Closed-core dry-type transformers are recognized for their compact and enclosed design, making them particularly suitable for installation in confined spaces. In a world marked by ongoing urbanization and the imperative to maximize space efficiency, the demand for closed-core transformers has surged.
 

These transformers are thoughtfully engineered with advanced safety features, aiming to mitigate the risk of fires or environmental hazards. Their self-extinguishing properties and enhanced resistance to fires make them exceptionally well-suited for applications where safety takes precedence, including residential buildings, healthcare facilities, educational institutions such as schools, and critical infrastructure like data centers.
 

Based on technology, the air blast dry-type transformers market are ideally suited for high-power applications where efficient cooling plays a critical role. As various industries, such as manufacturing, mining, and renewable energy, continue to experience growth, there is a rising demand for high-power transformers, including air blast dry-type transformers. The renewable energy sector, particularly in the context of wind power, has seen substantial expansion in recent years.
 

Air blast dry-type transformers have emerged as a preferred choice for wind turbine installations due to their robustness in withstanding harsh environmental conditions and their capacity to provide effective cooling. The increasing prominence of the renewable energy market has significantly contributed to the heightened demand for air blast dry-type transformers, as they align with the specific needs of this growing sector.
 

Based on insulation, the class B dry-type transformers are meticulously engineered to function seamlessly in high-temperature environments, rendering them exceptionally suitable for applications characterized by significant temperature fluctuations. Industries like steel manufacturing, oil and gas, and chemical processing frequently necessitate transformers capable of enduring elevated temperatures. Consequently, there is a growing demand for Class B dry-type transformers in these sectors, as they are specifically designed to meet these stringent temperature-related requirements.
 

Based on product, the open-wound dry-type transformers market are purposefully constructed with exposed windings, a design feature that enhances heat dissipation and cooling capabilities. This innovative design promotes improved airflow around the transformer windings, thereby optimizing cooling and thermal management efficiency. Consequently, there has been a growing demand for open-wound dry-type transformers, particularly in applications where the effective cooling of the transformer is of paramount importance.
 

Based on winding, the U.S. dry-type transformers market is segmented as two winding and auto transformer. Energy efficiency stands as a pivotal factor in the transformer market, and the design of two-winding dry-type transformers is meticulously crafted to deliver enhanced energy efficiency. These transformers exhibit lower losses when compared to conventional oil-filled transformers, leading to reduced energy consumption and subsequently, lower operating costs. In light of the increasingly stringent energy efficiency regulations and the growing emphasis on sustainability across various industries, there has been a notable upswing in the demand for energy-efficient two-winding dry-type transformers. The dry type transformer industry in North America is likely to reach USD 6.6 billion by 2032.
 

Based on winding, the U.S. dry-type transformers market is segmented as ≤ 5 MVA, > 5 MVA to ≤ 30 MVA, and > 30 MVA. The shift towards renewable energy sources, such as wind and solar power, has generated a substantial demand for dry-type transformers with a capacity exceeding 30 MVA (MegaVolt-Ampere). These transformers hold a crucial role in the integration of renewable energy installations into the power grid, as they are responsible for elevating the voltage to facilitate efficient transmission.
 

With the ongoing expansion of renewable energy projects, the need for large-scale dry-type transformers is anticipated to surge in response to the growing demand for efficient grid connectivity in the renewable energy sector.
 

Based on mounting, the pad-mounted dry-type transformers market have found widespread use in urban environments characterized by underground power distribution systems. In sync with the ongoing trend of urbanization and the escalating requirement for streamlined power distribution, there has been a notable upswing in the demand for pad-mounted transformers. These transformers are purposefully engineered for outdoor installation and offer a combination of compactness, tamper-resistant features, and aesthetically pleasing designs.
 

The industries segment held more than 40% of the U.S. dry type transformer market share in 2022. The growing focus on incorporating extensive frequency distribution networks and heightened concerns regarding energy efficiency are poised to act as catalysts, driving the demand for dry-type transformers in various industrial applications.
 

Furthermore, the increasing need for ultra-high voltage networks is expected to provide an additional impetus to the demand for these transformers. Moreover, the escalating investments from both private enterprises and government bodies in developing nations, particularly in electrification initiatives, are set to bolster the growth of the pad-mounted dry-type transformer market. Collectively, these factors signify encouraging market trends and potential opportunities within the industry.
 

U.S. Dry Type Transformer Market Share

Some of the major companies operating across the U.S. 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,
• Raychem RPG Private Limited
• Instrument Transformer Equipment Corporation
• Fuji Electric Co., Ltd.,
• WEG.

These companies focus on mergers and strategic partnerships for market expansion. Furthermore, these companies are increasingly investing in research & development activities, which enable them to introduce innovative services and garner maximum revenue in the market.
 

U.S. Dry Type Transformer Industry News:

• In April 2018, Siemens launched Sensformer, a digital transformer, which provides digital intelligence for transformers. It allows enhanced flexibility & optimized operation of the entire grid with the easy-to-use digital intelligence by making relevant utilization of real-time data. The new product is in line with the company’s strategy to expand its product offerings by the integration of IoT.
   

This U.S. dry type transformers 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