Dry-Type Transformer Market Outlook To 2023 : Emerging Trends, Growth Opportunities and Demand Supply

The global dry-type transformer market is expected to showcase considerable growth during the forecast period (2016 - 2022) on account of growing energy demands, reduction in fire hazards and increasing requirement for adopting safe methods to distribute electricity for residential and commercial applications.

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Dry-type transformers find their application across a wide range of end-user segments including multi-storey buildings, steel factories, underground tunnels, hospitals, schools and chemical industries, ensuring safety from fire.

Some of the major factors driving the growth of the global dry-type transformers include growing manufacturing, industrial and natural resource exploration activities related to production, chemicals and marine applications across the globe.

In terms of technology, cast resin emanated the maximum demand in global dry-type transformer market, in terms of value, in 2015, while the VPI segment is forecasted to exhibit the fastest growth rate in the overall market, during the forecast period.

Geographically, Asia-Pacific is expected to be the largest dry-type transformers market, in terms of revenue, during the forecast period, followed by North America and Europe.

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The key players operating in the global dry type transformers market are ABB Ltd., Eaton Corporation, Siemens AG, Crompton Greaves, Hammond Power Solutions, Voltamp Transformers, Schneider Electric, Tbea Transformer Industrial Group and General Electrical.