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U.S. Dry Type Transformer Market Size

Report ID: GMI6638
Published Date: Sep 2023
Report Format: PDF

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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.

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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.

U.S. Dry Type Transformer Market Report Attributes
Report Attribute	Details
Base Year:	2023
U.S. Dry Type Transformer Market Size in 2023:	USD 2.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	8%
2032 Value Projection:	USD 4.2 Billion
Historical Data for:	2019 to 2023
No. of Pages:	120
Tables, Charts & Figures:	103
Segments covered:	Core, Technology, Insulation, Product, Winding, Rating, Mounting, Application
Growth Drivers:	Refurbishment demand for existing grid infrastructure Rising infrastructural spending
Pitfalls & Challenges:	High initial cost

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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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size for dry type transformer in the U.S. reached USD 2.1 billion in 2023 and may witness 8% CAGR from 2024 to 2032, owing to the escalating environmental concerns and the surging implementation of energy efficiency regulations.

U.S. two winding dry type transformer industry is poised to depict significant momentum through 2032, driven by the surging need for reduced energy consumption and lower operating costs.

The industries application segment held more than 40% of the U.S. dry type transformer market share in 2022, due to the growing focus on incorporating extensive frequency distribution networks coupled with the heightened concerns regarding energy efficiency.

Some of the key companies include ABB, GE, Eaton, Schneider Electric, Siemens Energy, Hitachi Energy Ltd., CG Power & Industrial Solutions Ltd., Toshiba Energy Systems & Solutions Corporation, and Raychem RPG Private Limited among others.