Dry Type Transformers Market Size, Share and Global Trend By Technology (Cast Resin, Vacuum Pressure Impregnated), By Voltage Type (Low Voltage, Medium Voltage), By Application (Industrial, Commercial, Others), By Phase (Single, Three) and Geography Forecast till 2021-2028

Transformers are used to increase or decrease voltages and currents in an electrical circuit. They are also known as cast resin transformers and are power transformers with windings encased in epoxy resin. The layer of epoxy helps protect against dust and corrosion. It is a static device that uses environmentally friendly temperature insulation systems.

There are a variety of transformers, including liquid-type transformers, but there are plenty of good reasons why we recommend dry-type transformers such as they are more economical, they pack essential safety features, and they are more efficient. Additionally, they have better overload capacity, efficient as there is low particle discharge along with little loss, no temperature fluctuation, and are easy maintenance.

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The dry-type transformers market is categorized by cast resin and vacuum pressure impregnated transformer. Among which cast resin dry type transformer is highly used as it is moisture-proof, has short circuit strength, hardly inflammable and eco-friendly. Low voltage transformers are manufactured in vacuum pressure impregnation (VPI) technology, depending on the application such as in commercial buildings, onboard of vessels as well as in deep mines and industrial environments. Single-phase dry-type transformer market is expected to grow due to rapid urbanization and regulatory reforms such as FITs (feed-in-tariff) policies.

The dry type transformer market is driven by its broad applicability in the distribution of electricity. The rapid demand for electricity across the globe due to rapid industrialization in developing countries is further driving the market growth. Additionally, major drivers for the market also include a rise in demand for eco-friendly products and safety over liquid-filled transformers. However, the high cost of the product is the major restraint for the market as it is costlier than oil-cooled transformers along with a lack of investment by government in grid stability and load or number of losses.

Key Players Covered

Some of the major companies that are present in dry-type transformers market are Hammond Power Solutions Inc., ABB Ltd., Eaton Corporation PLC., Siemens AG, CG Power and Industrial Solutions Ltd., Voltamp Transformers Ltd. Schneider Electric SE, Jinpan International USA Ltd, Bharat Heavy Electricals Ltd., Virginia Transformer Corp, Tbea Transformer Industrial Group, Toshiba, Kotsons Pvt., Ltd, Crompton Graves Ltd., and Kirloskar Electric.

SEGMENTATION

Regional Analysis

The global dry-type transformers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dry-type transformers market is expected to be a significant market due to high investment in transmission & distribution networks creating a broad scope for the electrical components in this region. Europe is expected to contribute to development for the dry type transformers market due to rapid urbanization and industrialization. Asia-Pacific is expected to be the dominant player all over the world, due to its growing population along with improvement in lifestyle which has led to the increase in consumption of energy in economies such as China and India. In Latin America, economies such as Brazil and Argentina are the major markets due to the rise in demand from different sectors. The Argentina government is also in the process of commissioning large projects, both in the transmission and generation sectors.

Key Industry Developments

• In Jan 2019, Hammond Power Solutions Inc. announced the availability of its new and improved line of three-phase encapsulated transformers for industrial and harsh environments. The transformer is completely encapsulated in epoxy and silica and prevents the ingress of moisture.
• In Jul 2018, ABB announced its acquisition of GE Industrial Solutions (GEIS), GE’s global electrification solutions business in $2.6 billion. The acquisition will lead to ABB’s position as a worldwide leader in electrification and will accelerate its growth and competitiveness in the market.
• In Mar 2019, Siemens AG and State Power Investment Corporation Limited (SPIC) signed a comprehensive Strategic Partnership Framework Agreement (SPFA) which is a technology collaboration agreement between Siemens AG and China United Heavy-duty Gas Turbine Company (UGTC) on heavy-duty gas turbines.