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At a CAGR of 6.1%, Dry Type Transformer Market is projected to reach $7.3 billion by 2027

06-28-2021 05:32 AM CET | Energy & Environment

Press release from: Allied Market Research

Dry Type Transformer Market

Dry Type Transformer Market

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.

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The global dry type transformer market growth varies in each region depending on the government investments, economic development, and private utility companies’ willingness to upgrade existing T&D networks. Aging infrastructure is one of the factors that boosts the growth of the global dry type transformers market. Aging equipment has a higher risk of failure and is unreliable.

Frequent failure in transmission hampers customer development as in the case of industries and other commercial consumers of electricity that demand stable supply of electric power. Furthermore, growth in renewable energy investment slows due to grid limitations. Hence, upgrading the capacity of dry type transformers is crucial to meet the future demand for electricity.

Dry type transformers offer various advantages over wet transformers. It is easy to install and requires less maintenance, excellent resistance to short circuit currents and capacity to support overloads, uses no environmentally hazardous hydrocarbon liquids hence it is eco-friendly and pollution free. Being self-extinguishing, it reduces the cost on civil installation works and fire protection systems.

Dry type transformers have gained high demand in the recent years as they are installed in industrial, commercial, as well as residential and non-residential constructions. In industries, some machineries require specific voltage requirements along with providing safety against fire and chemical hazards. Dry type transformers are available in single-phase as well as three-phase, and mainly operate in low and medium voltage ranges.

Top Key players include in this report:

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.
Schneider Electric SE
Siemens AG

The following are the regions covered in this report.

North America [U.S., Canada, Mexico]
Europe [Germany, UK, France, Italy, Rest of Europe]
Asia-Pacific [China, India, Japan, South Korea, Southeast Asia, Australia, Rest of Asia Pacific]
South America [Brazil, Argentina, Rest of Latin America]
Middle East & Africa [GCC, North Africa, South Africa, Rest of Middle East and Africa]

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Key Findings Of The Study

The dry type transformer market is projected to grow at a CAGR of nearly 6.1%, in terms of revenue, during the forecast period.

Electrification projects for meeting the present electricity demands, adoption of renewable energy generation, and subsequent integration with the power grid are the major drivers.

By region, Asia-Pacific dominated the dry type transformer market with a revenue share of over 41.2% in 2019.

The qualitative data in the report aims on the dry type transformer trends, dynamics, and developments in the dry type transformer industry while the quantitative data provides information about the dry type transformer market share and market size in terms of revenue.

Impact Of Covid-19 On The Global Dry Type Transformer Market

Most of the industries have become non-operational during this pandemic event. In terms of end-use industries, the industrial sector accounts for the majority demand for dry type transformers; therefore, COVID-19 situation has directly affected the ongoing demand for dry type transformers.

Renewable energy generation is the largest consumer for dry type transformer in industrial segment, which is also affected to a great extent during the pandemic.

Complete or partial lockdown situation globally has led to supply chain disruption, leading to delays in project construction, having a direct impact on the commissioning of renewable electricity projects, biofuel facilities, and renewable heat investments

In the global solar industry, more than 40% of the supply chain is reliant on supply from China and other Southeast Asian countries

China is the known source of this pandemic and the country is the most affected one in terms of material supply and material transport due to COVID-19.

Reasons for Buying this Report:

Complete analysis on market dynamics, market status and competitive dry type transformer view is offered.

Forecast Global dry type transformer Industry trends will present the market drivers, constraints and growth opportunities.

The five-year forecast view shows how the market is expected to grow in coming years.

All vital Global dry type transformer Industry verticals are presented in this study like Product Type, Applications and Geographical Regions.

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About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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