Global Dry-Type Transformer Market Analysis by Recent Developments and Business Outlook 2022-2030

Inkwood Research estimates that the Global Dry-type Transformer Market is evaluated to register a CAGR of 6.25% in terms of revenue during the forecasting years of 2021-2028.
"Browse 61 Market Data Tables and 57 Figures spread over 220 Pages, along with an in-depth TOC on the Global Dry-type Transformer Market Forecast 2021-2028."

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Dry-type transformers entail magnetic core transformers, with the core and windings placed in a sealed tank. Unlike typical liquid-filled transformers that use oil and other liquids, dry-type transformers utilize air as a cooling medium. Besides, vacuum impregnation and cast resin are the primary technologies used to produce them.

Aging Distribution and Transmission Infrastructure Drive Market Growth
While developed nations are currently implementing large-scale smart technologies, emerging economies are also beginning to adopt smart grid components into their grid systems. Thus, the increasing adoption of smart grids is likely to result in upgrading existing transmission and distribution networks. Also, it would enable replacing low-efficiency transformers with high-efficiency transformers. As a result, the rising adoption of the smart grid, incorporated with the increasing investments in smart distribution, is anticipated to fuel the demand for dry-type transformers, over the forecast period.
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Single-Phase Segment to Dominate the Phase Category by 2028
Single-phase dry-type transformers are suitable for applications that involve less than 1,000 watts of power. They are primarily used in commercial low-voltage applications, like home appliances and electronic devices. Moreover, they operate as a step-down voltage transformer, capable of supplying adequate power to reinforce electric motors up to 5 horsepower (hp). The high voltage provided by the power grid is brought down by a single-phase dry transformer, positioned across commercial as well as residential spaces. Conversely, three single-phase furnace dry-type transformers are deployed in steel plants, instead of an individual unit, to stabilize the overall phase impedance, particularly in modern steel processes' application. Additionally, they are also utilized in the mining industry, as a flameproof transformer.

Asia Pacific Held the Largest Market Share in 2020
Developing countries across the Asia Pacific, like China, India, and Japan, are significantly investing in sectors such as power, construction, and renewable energy. Moreover, population migration from rural to urban areas and the rising household income bolster the region's commercial and residential construction activities. Thus, such factors are anticipated to hike the region's dry-type transformer market growth.
As a concentrated market, only a few players are well-recognized and have an established consumer base. Numerous international brands, and domestic enterprises also dominate the global dry-type transformer market. Moreover, medium and small firms fiercely contend in terms of quality and price, thereby intensifying the competition. As a result, the industrial rivalry is expected to be high, during the forecast period. Major enterprises operating in the market include, General Electric Company, Eaton Corporation PLC, Fuji Electric Co Ltd, Bharat Heavy Electricals Ltd, Hammond Power Solutions Inc, etc.

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