Dry Type Transformer Market size to exceed $7bn by 2026
Published Date: August 13, 2020 Authors: Ankit Gupta, Riya Gupta
Dry Type Transformer Market size is expected to surpass USD 7 billion by 2026, as reported in the latest study by Global Market Insights, Inc.
Dry type transformer industry is set to grow on account of increasing expenditure toward refurbishment of existing transmission & distribution networks and increasing energy demand across the developing regions. Ongoing digital transformation of utilities coupled with large scale integration of renewable sources will positively sway the business outlook. Growing customer focus toward the adoption of advanced technologies and minimizing energy theft will foster the industry outlook.
Growing demand for effective power transmission networks will fuel the business scenario.
Rising demand for efficient transmission system along with paradigm shift toward reliable power supply networks will fuel the shell dry type transformer market trends. Ongoing technological enhancement to minimize installation and maintenance cost will positively influence the product demand. Moreover, wide scale utilization across higher power ratings and voltages will complement the business landscape.
Increasing infrastructural investments coupled with flourishing real estate sector will strengthen the class H dry type transformer demand. Growing urbanization followed by the development of Tier II & III cities will facilitate the product growth. In addition, favorable government regulations to ensure grid sustainability along with rapid installation of smart monitoring systems will augment the business landscape.
Development of HVDC networks will drive cast resin dry type transformer industry statistics
Cast resin dry type transformer market will grow on account of expansion of transmission lines and rapid installation of utility based HVDC infrastructure. Positive inclination toward the development of high voltage lines to meet the increasing electricity demand primarily across the emerging economies will boost the industry outlook.
Browse key industry insights spread across 1,000 pages with 2,045 market data tables & 43 figures & charts from the report, “Dry type Transformer Market Statistics By Core (Closed, Shell, Berry), By Technology (Self-air, Air-blast), By Insulation (Class R, Class H, Class F, Class B, Class A), By Product (Open Wound, Cast Resin, Vacuum Pressure Impregnated, Vacuum Pressure Encapsulated), By Phase (Single, Three), By Installation (Outdoor, Indoor), By Winding (Two-winding, Auto-transformer), By Rating (< 5 MVA, 5 MVA to 30 MVA, > 30 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Industries, Inner-city Substations, Indoor/Underground Substations, Renewable Generation), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Single phase dry type transformer demand will gain traction on account of upgradation of small-scale industries
Single phase dry type transformer market is anticipated to grow at a rate of over 8% through 2026. Favorable regulatory reforms toward expansion of small-scale industries and rail & road networks will complement the industry outlook. In addition, introduction of a sustainable electrical infrastructure favored by reforms including subsidies, incentives, leveraging schemes coupled with rising investments from local government entities will drive the business share.
< 5 MVA rating dry type transformer units will gain an appreciable momentum on account of increasing power demand across residential & commercial establishments. Shifting consumer inclination toward compact, energy efficient and flame-retardant transformers across primary and secondary distribution networks will enhance the product adoption. Furthermore, the growing inclination toward cloud-based technologies for controlling and monitoring operations will augment the industry potential.
Development of long-distance electricity networks will propel the Europe dry type transformer industry statistics
France dry type transformer market exceeded USD 165 Million in 2019. Expansion of smart grids along with ongoing development of long-distance power networks will accelerate the business growth. In addition, increasing government investments toward large-scale renewable integration for effective energy mix along with growing tourism sector will augment the industry landscape.
COVID-19 has overdue a wide range of projects including smart & stick-built homes, infrastructural development and restructuring & renovation of projects, impacting the industry growth. The requirement for huge investments to overcome this situation in line with the ongoing imbalance between demand & supply in the market may impact the market forecasts. However, the companies are adopting creative & indigenous methods to engage workforce with an aim to fulfil their production needs.
Eminent players operating across dry type transformer market includes GE, Eaton Corporation, WEG, ABB, Siemens, CG, Schneider Electric, Abaft, Raychem, Mehru, Toshiba, Celme, Bharat Heavy Electricals Limited, Fuji Electric and Instrument Transformer Equipment Corporation. The players are focusing toward overseas expansion including merger and acquisitions to enhance their business presence.