According to the TechSci Research report titled "Global Dry-Type Transformer Market - By Region, Competition, Forecast & Opportunities, 2028", the market is poised for a 6.84% Compound Annual Growth Rate (CAGR) during the forecast period of 2024-2028. Major drivers for this growth include an increased demand for electricity, a preference for eco-friendly products, and the safety advantages offered by dry-type transformers over liquid-filled counterparts.

The market, segmented into power transformers and distribution transformers, is expected to see the distribution transformer segment make the largest contribution. Dry-type transformer technology, being environmentally friendly with better impulse and short circuit strengths, finds applications ranging from residential buildings to small commercial complexes. Distribution transformers, designed for maximum efficiency at lower loads, experience minimal voltage regulation to enhance efficiency. Growing investments in expanding and restructuring distribution power grids, especially in the Middle East and African countries like Oman and Saudi Arabia, are expected to boost the growth prospects of the dry-type transformer market.

Techsci Research Report: https://www.techsciresearch.com/report/dry-type-transformer-market/20424.html 

In Europe, where around USD 10 billion of annual transmission spending is required through 2030, investments in upgrading and refurbishing the existing grid remain stable at nearly USD 50 billion. This stability supports the growth of the distribution transformer type, as variable renewables and electrification witness significant growth in the region.

Asia-Pacific is anticipated to dominate the dry-type transformer market during the forecast period due to growing industrialization and urbanization. China's promotion of green certificates and renewable energy portfolios, along with an aggressive stance on wind power, is expected to drive demand for dry-type transformers. Similarly, the increasing share of renewable energy in India, with the aim of decarbonizing the economy as per the Paris Agreement, is expected to boost the demand for upgrading transmission and distribution infrastructure.

Major companies operating in the Global Dry-Type Transformer market are:

  • Siemens AG

  • Schneider Electric SE

  • Eaton Corporation PLC

  • ABB Ltd.

  • TBEA Co. Ltd.

  • Hyundai Electric & Energy Systems Co. Ltd

  • Hammond Power Solutions Inc.

  • Kirloskar Electric Company Ltd.

  • Hitachi Energy Ltd.

  • Gujarat Transformers Private Limited

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TechSci Research Director Mr. Karan Chechi highlights the key factors driving the market, including the growing emphasis on energy efficiency and sustainability, increased electricity demand, safety regulations, and technological advancements leading to more compact and efficient dry-type transformers. In conclusion, the dry-type transformer market is propelled by a combination of factors, making it an attractive choice for companies aiming to reduce their carbon footprint and operating costs.

The report titled "Dry-Type Transformer Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented by Voltage (Low Voltage and Medium Voltage), Type (Power Transformer, Distribution Transformer), End Phase (Single Phase, Three Phase), By Region, Competition" evaluates the future growth potential of the global dry-type transformer market, providing statistics and information on market size, structure, and future growth. The report aims to offer cutting-edge market intelligence, helping decision-makers make sound investment decisions, and identifies emerging trends along with essential drivers, challenges, and opportunities in the global dry-type transformer market.

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