Dry type Transformer Market to exceed $9bn by 2024

Dry type transformer market is projected to witness upsurge owing to its economical cost structure along with efficient noiseless operations. Effective applicability across underground substations coupled with expanding medium & low voltage renewable networks will foster the product deployment. The technology has gained appreciable penetration across industrial establishments on account of its lower toxicity when compared to its conventional counterparts. Thereby, advancing product precision coupled with growing demand for sustainable units will positively impact the business outlook.

UK dry type transformer market is set to reach over 14,000 annual unit installations by 2024. Stringent energy efficiency norms coupled with advancing smart transformer technologies will positively influence the industry growth. Utilities and private participants in line with the renewable targets led by the European Union have aligned their focus towards the expansion of sustainable electric networks. Thereby, pragmatic adoption of low and medium renewable systems across suburban establishments will boost the product demand.

Rapid economic proliferation across developing regions adhered by expanding commercial and industrial establishments will drive the Vacuum Pressure Impregnated (VPI) dry type transformer market. Sustainable mechanical and short circuit strength complemented by minimized leakage and fire hazard tendencies will fuel the business growth. In addition, rapid technological enhancements have led to significant improvement in terms of efficiency and operational flexibility which in turn have instituted a favorable business scenario.

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Three phase dry type transformer market is projected to witness growth of over 9% by 2024. The industry has undergone significant upsurge on account of growing inclination towards the establishment of a sustainable grid infrastructure to ensure security of supply. Ongoing electrification reforms to cater the rising demand coupled with competitive cost structure and operational reliability will encourage the product deployment.

Ongoing technological advancements coupled with rising inclination towards the replacement of conventional insulated systems will augment the dry type transformer market. Elimination of spills & leakage coupled with effective operations under climatic extremities will further uplift the product demand. Furthermore, improved surge resistance adhered by effective short circuit protection will positively influence the industry growth.

The U.S. dry type transformer market will grow pertaining to ongoing upgradation of existing grid infrastructure along with rapid deployment of cost effective distribution systems. The industry in line with favorable energy efficiency reforms coupled with rapid adoption of advance transformation units will complement the business landscape.

Africa dry type transformer market was valued over USD 200 million in 2016. The region on account of high end dependency on imports adhered by in-effective grid infrastructure possess substantial growth opportunities. Ongoing investments from financial institutions to establish a sustainable electric network along with rapid deployment of renewable energy systems will stimulate the product demand.

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Eminent industry participants include CG, WEG, ABB, Schneider, Siemens, Meramec, GE, Raychem, Fuji Electric, ITEC, KONCAR, EATON, Abaft, Toshiba, TRENCH, BHEL, Kirloskar, Voltamp, Mehru, Ruhstrat, and Celme.
Effective supply chain collaborations along with facility expansion to achieve economies of scale have been the prime strategic implications by the leading industry participants across the dry type transformer industry.

Browse Related Report
Single phase Transformer Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Growth Potential, Competitive Market Growth & Forecast, 2016 – 2024
https://www.gminsights.com/industry-analysis/single-phase-transformer-market

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