Dry Type Transformer Market Growing Exponentially by manufacturers, Demand, Technology and Region

According to Allied Market Research, the global dry type transformer market is expected to grow at a significant CAGR from 2020 to 2027. Especially, its wide application in the dispersal of electricity has worked as the major factor driving the growth of the market in more than one way. Simultaneously, rapid development of electricity distribution grid across the world and huge economic development in countries have supplemented the growth yet more.

In the last few years, there’s been a huge drift toward industrialization and accordingly, a steep increase in demand has been reported from the heavy to small scale industries. And, in order to curtail the dependency on coal-based electricity generation, nations across the world have come up with the solution to heighten the incorporation of renewable energy generation. This is where dry type transformers peep in to replace the oil type transformers owing to the array of safety features they provide.

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Based on technology, the cast resin segment accounted for the largest share in 2019, holding more than two-thirds of the total share, and is expected to maintain the largest share throughout the forecast period. However, the vacuum pressure impregnated segment is expected to register the highest CAGR of 6.5% from 2020 to 2027.

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.

Leading market players analyzed in the research include Eaton Corporation Plc, Bharat Heavy Electricals Ltd., General Electric Company, Fuji Electric Co. Ltd., Henley Energy GCC, Hammond Power Solutions Inc., Hyosung Heavy Industries, Hitachi Ltd., Power Sp. z o.o., and Kirloskar Electric Co. Ltd.

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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 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 up gradation 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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