Dry Transformer Market Research Report- Forecast to 2023
Dry Transformer Market Insights, Opportunity,
Analysis, Market Shares and Forecast 2018 – 2023.
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Copyright Š 2018 Market Research Future.
Dry Transformer Market Research Report- Forecast to 2023
1 Summary Dry type transformer does not utilize liquid where it is winding with core be immersed. Rather windings with core are kept in a sealed tank that is pressurized with air. It is fire resistant transformers and is suited to be installed in high-rise buildings, steel factories, hospitals, school, chemical plants, and other places wherever fire safety is of top importance. This transformer not causing any environmental deterioration, and is highly reliable over the years. Increasing investment in the renewable sector is rigorously driving the global dry transformer market. To reduce the dependency on conventional fossil fuels, many countries across the globe are diverting towards the renewable energy power generation. However, increasing reputation of bio-based and naphthenic transformer oil may hamper the growth of the market.
Key Players: The prominent players in the dry transformer market include Hammond Power Solution Inc. (Canada), ABB Ltd.(Switzerland), Siemens AG (Germany), General Electric (U.S.), Jinpan International Ltd.(China), Schneider Electric (France), TBEA Transformer Industrial Group (China), Eaton Corporation (Ireland), Crompton Graves Ltd. (India), Voltamp Transformer Ltd.(India), Virginia Transformer Corp (U.S), Kirloskar Electric Company (India), and Kotsons Pvt. Ltd (India).
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Copyright Š 2018 Market Research Future.
Dry Transformer Market Research Report- Forecast to 2023
2 Market Overview North America is the second largest region for dry transformers. High investment in transmission & distribution network creating a wide scope for the electrical components in this region. U.S.is the major market in the North America region. It is one of the leading countries in overall transformer shipments around the world. As U.S economy is witnessing enormous growth due to phenomenal industrialization and urbanization across the country, it is expected that the U.S. will hold one of the largest shares in the global transformer market. Europe is another major market for the dry transformers. It is expected to contribute significantly during the forecast period. In South America, Brazil, Argentina, are the major markets for the dry type transformer. The Argentina government is in the process of commissioning large projects, both in the transmission and generation sectors. To meet the rising demand, it has been estimated that about 1,000 MW of new generation capacity is needed each year. All these major factors are expected to boost the dry transformer in the forecast period.
As the presence of several well-established and small players, the global market of dry transformer appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch to gain competitive advantage in the market and to maintain their market position. These key players compete on pricing and services. Vendors in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These key players make a substantial investment for R&D and to secure a guaranteed resource for the customers.
Hence, Global Dry Transformer market is Expected to Grow at a CAGR of 5.14% during the Forecast Period
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Copyright Š 2018 Market Research Future.
Dry Transformer Market Research Report- Forecast to 2023
3 Market Research Analysis By application, the market has been segmented into Industrial, Commercial, and others. The remarkable growth in the industrial sector across the world is generating an immense power requirement for the proper functioning of the sector. The high reliability of industrial sector towards power is enabling the growth for the power equipment in the sector. The huge amount of power consumption in the industrial sector with varying load capacity is expected to boost the dry transformer market during the forecast period. Commercial sector is also the primary application area of the market. The rise in the population resulting in urbanization across all major economies in the world is making a fruitful market for the dry transformer for this sector.
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Copyright Š 2018 Market Research Future.
Dry Transformer Market Research Report- Forecast to 2023
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Copyright Š 2018 Market Research Future.