According to a new report by Expert Market Research titled, “Global Dry Type Transformer Market Share, Size, Report and Forecast 2024-2032″, the global dry type transformer market size is projected to grow at a CAGR of 6.2% between 2024 and 2032. Aided by the growing demand for electricity across the world, the market is expected to grow significantly by 2032.
Dry type transformers, known for their safety and efficiency, are transformers where the core and windings are not immersed in an insulating liquid. Instead, they are cooled by air circulation. These transformers are widely used in various applications such as power generation, industrial, and commercial due to their reduced risk of fire and environmental friendliness.
The dry type transformer market growth is driven by multiple factors. Increasing concerns over environmental safety and regulations against the use of polychlorinated biphenyls (PCBs) in oil transformers are pivotal in driving the demand for dry type transformers. Additionally, their application in sensitive areas like hospitals, schools, and shopping malls, where safety is of utmost importance, is a significant contributing factor.
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The rising demand for electricity in emerging economies, coupled with the need to upgrade existing power infrastructure, further fuels the dry type transformer market demand. Additionally, advancements in transformer technology, leading to improved efficiency and reliability of dry type transformers, are attracting investments from various sectors.
Technological innovations are key to the evolution of the market. Modern dry type transformers are equipped with advanced features like temperature control systems and better insulation materials, enhancing their efficiency and lifespan.
In terms of applications, these transformers are extensively used in power distribution and are crucial components in renewable energy systems. Their ability to operate in harsh weather conditions without significant maintenance makes them ideal for remote installations, such as wind and solar power plants.
Geographically, the Asia Pacific region holds a significant portion of the dry type transformer market share, attributed to the rapid industrialisation and urbanisation in countries like China and India. The future of the market looks promising, with potential advancements in eco-friendly materials and smart transformer technologies. The increasing emphasis on sustainable energy solutions is expected to continue driving the market forward.
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Market Segmentation
The market can be divided based on type, technology, phase, voltage, end use, and region.
Market Breakup by Type
• Converter Transformer
• Rectifier Transformer
Market Breakup by Technology
• Cast Resin
• Vacuum Pressure Impregnated
Market Breakup by Phase
• Single Phase
• Three Phase
Market Breakup by Voltage
• Low Voltage
• Medium Voltage
Market Breakup by End Use
• Industrial
• Commercial
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global dry type transformer market. Some of the major players explored in the report by Expert Market Research are as follows:
• Bharat Heavy Electricals Ltd.
• Eaton Corporation PLC
• Fuji Electric Co. Ltd.
• Hammond Power Solutions Inc.
• Hitachi Ltd.
• Kirloskar Electrical Co. Ltd.
• Others
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