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U.S. Dry Type Transformer Market Trends

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

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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.

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.