Dry Type Transformer Market is Booming Worldwide | Eaton, Fuji Electric, General Electric, Hammond Power

Surge in demand for electricity across the globe for different end-uses and safety advantages over liquid transformers drive the growth of the global dry type transformer market. However, high cost associated with dry type transformer restrains the market growth. Furthermore, growing adoption of digital dry transformers and smart grids is expected to provide new growth opportunities in the near future.

Based on type, the dry type converter transformer segment contributed to the largest share in 2019, accounting for more than three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the dry type rectifier transformer segment is estimated to portray the highest CAGR of 6.3% during the forecast period.

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Based on phase, the single-phase dry type transformer accounted for the largest share in 2019, owing to its large-scale adoption in low voltage distribution applications. On the basis of voltage, the low-voltage dry type transformer accounted for the largest share in 2019 due to its use in industrial applications and in commercial and public buildings. The end use of dry type transformers includes industrial, commercial, and others.

Region wise, the dry type transformer market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is expected to growth at the highest rate of 6.6% during the forecast period. The growth is attributed to growth in electricity demand in countries such as the U.S. Further, the growth potential of renewable energy sources in the U.S. is high.

Key players operating in dry type transformer market include Bharat Heavy Electricals Ltd., Eaton Corporation Plc, Fuji Electric Co. Ltd., General Electric Company, Hammond Power Solutions Inc., Henley Energy GCC, Hitachi Ltd., Hyosung Heavy Industries, Kirloskar Electric Co. Ltd., Power Sp. z o.o., Schneider Electric SE, Siemens AG, TBEA Co. Ltd., Voltamp Transformers Ltd., and WEG Group.

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Covid-19 scenario:

Disruptions in supply chain due to restrictions on logistic mobility and sluggish import export activities amid lockdown have impacted the dry type transformer market during Covid-19 pandemic.

On the other hand, the manufacturing activities of dry type transformers have been halted to avoid social gathering and curb the spread of coronavirus.

However, the demand for dry type transformer is expected to increase across the developing economies due to upgradation of existing grid infrastructure and installation of new smart grids to meet the growing demand for electricity after lifting up of lockdown.

The report offers a detailed segmentation of the global dry type transformer market based on type, technology, phase, voltage range, end-use, and region.

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