The report "Dry Type Transformer Market by Technology (Cast Resin, Vacuum Pressure Impregnated), by Phase (Single-Phase, Three-Phase), by Voltage (Low, Medium), by Application (Industrial, Commercial, Others), by Geography - Global Forecast to 2020", provides a detailed overview of the major drivers, restraints, opportunities, and challenges impacting the global dry type transformer market along with the estimates and forecast of the revenue and market share analysis.
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The global dry type transformer market is expected to reach USD 5.38 Billion by 2020 from USD 4.16 Billion in 2015, at a CAGR of 5.3%. The dry type transformers market is driven by the increasing demand of energy, reduction of fire hazards, and need to adopt safe methods to distribute electricity for residential and commercial use. Besides, there is no fire protection requirement for dry type transformers, thereby, resulting it to be environmentally safe. However, high costs and lack of governmental investments towards grid expansion and stability may hinder the growth of this market.
Globally, several renewable energy and grid upgrade projects are under progress, therefore, the dry type transformers are preferred as they are environment-friendly and offer high-level of safety.
Asia-Pacific is the major contributor to the dry type transformers market. The major drivers for the dry type transformers market are increasing demand from emerging economies such as India and China, large number of ongoing grid restructuring & expansion projects, ands smart grid projects. The countries in RoW, such as Iran and Saudi Arabia are investing heavily in the expansion and restructuring of power and distribution grids, which is offering high growth prospects for the dry type transformer market.
On the basis of technology, the market is divided into Cast Resin, and VPI. The Cast Resin segment is expected to account for the largest share of the global dry type transformer market by 2020. On the other hand, the VPI segment is expected to witness the growth rate of 4.8% during the forecast period. On the basis of phase types, the market is divided into single phase and three phase transformers. On the basis of voltage, market is categorized into medium voltage and low voltage .The geographic segments included in this report are North America, Europe, Asia, and the Rest of the World (RoW).
Major players in this market include Hammond Power Solution Inc. (Canada), ABB Ltd.(Switzerland), Siemens AG (Germany), General Electric (U.S.), Jinpan International Ltd.(China), ABB Ltd. (Switzerland), Schneider Electric (France), TBEA Transformer Industrial Group (China), Eaton Corporation (Ireland), Crompton Graves Ltd. (India), and Voltamp Transformer Ltd.(India).
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