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Dry-Type Transformer Market Size, Share, Development, Growth and Demand Forecast to 2024

  • Publishing: May 2021
  • Report Code: PE10881
  • Available Format: PDF

The global dry-type transformer market is expected to showcase considerable growth during the forecast period (2016 - 2022) on account of growing energy demands, reduction in fire hazards and increasing requirement for adopting safe methods to distribute electricity for residential and commercial applications. The safety advantages and the environment-friendly nature of dry-type transformers over oil-filled transformers are expected to further spur the market for dry-type transformers, during the forecast period. Additionally, dry-type transformers are preferred over oil-filled transformers due to ensuring safety against fire risk, light weight, less volume and low installation and maintenance cost.

Dry-type transformers find their application across a wide range of end-user segments including multi-storey buildings, steel factories, underground tunnels, hospitals, schools and chemical industries, ensuring safety from fire. The dry-type transformers technology do not cause any environmental degradation. These transformers are moisture-proof and possess better impulse and short circuit strength; however, lack of government investments for grid expansion and grid stability and high costs associated with dry-type transformers could inhibit the growth of the overall dry-type transformer market.

Some of the major factors driving the growth of the global dry-type transformers include growing manufacturing, industrial and natural resource exploration activities related to oil production, chemicals and marine applications across the globe. Additionally, the flourishing oil and gas and chemical industries that require a hazard-free operational environment are poised to offer growth opportunities for global dry-type transformers market, during the forecast period. These types of transformers are not suitable for requirement over 2000KVA and therefore, are not ideal for high voltage applications.

In terms of technology, cast resin emanated the maximum demand in global dry-type transformer market, in terms of value, in 2015, while the VPI segment is forecasted to exhibit the fastest growth rate in the overall market, during the forecast period. VPI segment requires low maintenance and in case of any damage, these types of transformers have the advantage of changing just the affected winding rather than replacing the entire low voltage (LV) or high voltage (HV) windings of the electrical circuitry.

Geographically, Asia-Pacific is expected to be the largest dry-type transformers market, in terms of revenue, during the forecast period, followed by North America and Europe. The major factors fueling the growth of the Asia-Pacific market are the rapidly increasing investments in the transmission and distribution networks in order to fulfill the rising energy demands. Additionally, the increasing number of ongoing power grid restricting and expansion projects and upcoming smart city projects in India, is expected to further boost the market for dry type transformers in the region. Moreover, countries such as Iran, Saudi Arabia, Brazil and South Africa are likely to contribute to the overall growth of the global dry-type transformers market on account of growing investments in infrastructure development, restrictions on power grids, government support and growing industrialization.

The key players operating in the global dry type transformers market are ABB Ltd., Eaton Corporation, Siemens AG, Crompton Greaves, Hammond Power Solutions, Voltamp Transformers, Schneider Electric, Tbea Transformer Industrial Group and General Electrical.

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