The
global dry transformer market is expected to grow at a CAGR of 5.14% during the
forecast period. Dry type transformer does not utilize liquid where it is
winding with core be immersed. Rather windings with core are kept in a sealed
tank that is pressurized with air.
Increase
demand for the energy across the globe driving the growth of the market. The
robust growth in the economy and the population have led to the upsurge in
power consumption. Hence, many countries across the globe are escalating and
upgrading their electric grid infrastructure, to achieve the growing demand.
These developments are expected to provide the vital groundwork for dry
transformer market. Additionally, the features such as lightweight, low
installation and maintenance cost also have a positive influence on the growth
of the market. Adapting to the recent
novel COVID-19 pandemic, the impact of the COVID-19
on Dry Transformer Market is
included in the present report.
Global Dry Transformer Industry Segmental
Analysis
For
this study, the global dry transformer market has been divided into four
segments type, service, elevator technology, and end user. By phase type, the
market has been segmented into Single-Phase, and Three-Phase. The single-phase
transformers are usually used in commercial low voltage application as
electronic devices. They operate as step down voltage transformer and decrease
the home voltage value to the value suitable for electronics supplying. A
three-phase transformer is a three-legged iron core. Each leg has a particular
primary and secondary winding. This is a more expensive solution and is used in
high power system.
Leading Players
The
prominent players in the dry transformer market include Hammond Power Solution
Inc. (Canada), ABB Ltd.(Switzerland), Siemens AG (Germany), General Electric
(U.S.), Jinpan International Ltd.(China), Schneider Electric (France), TBEA
Transformer Industrial Group (China), Eaton Corporation (Ireland), Crompton
Graves Ltd. (India), Voltamp Transformer Ltd.(India), Virginia Transformer Corp
(U.S), Kirloskar Electric Company (India), and Kotsons Pvt. Ltd (India).
Asia Pacific region dominates the global
dry transformer market
Geographically,
the global dry transformer market has been divided into four major regions as
North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region
has accounted for the largest market share. Rapid industrialization and
urbanization is the key factor driving the growth of the market in the region.
Key players across the world are increasingly shifting their production
facilities to cater the high potential markets in Asia Pacific, mainly due to
the obtainability of low-cost labor and ample raw material stocks. This has the
positive influence on the growth of the market. China, Japan, India, and
Singapore are the major market in Asia Pacific region.
Europe
is another major market for the dry transformer. Europe is developing an interconnected
grid that can transfer electricity between countries in the region such as
between the UK, Germany, Poland, France, and Sweden. In U.K, the current
T&D infrastructure is old and has limited capacity for power transmission
and distribution. Hence the country is investing more to the replacement of
ageing infrastructure. This also increases the demand for dry transformers. The
Middle East & Africa and South America are expected to show the significant
growth during the forecast period.
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