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Dry-Type Transformer Market Strategies, Outlook, Trends, Share And Forecast By 2023
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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.
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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.
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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