According to the global dry-type transformer market recently made available by Absolute Reports, the market is likely to grow at a significant rate, due to increasing demand for electricity, growing focus on reduction of fire hazards, and augmentation in power infrastructure.
Increasing investments in the transmission and distribution networks in countries, such as India and China, provides tremendous opportunity for dry-type transformers market during the forecast period 2018-2023, the report says.
Countries in the Middle East & African region, like Iran and Saudi Arabia, are also investing in the expansion and restructuring of power grids, which increases the growth prospects of the dry-type transformer market.
By region, Asia-Pacific dominated the global market for dry-type transformers, with almost 42% of the market share in 2017, and is expected to maintain its dominating market position during 2018-2023.
Globally, the usage of eco-friendly products is growing, which has led to the development of technologies that can help accomplish the environmental targets. Dry-type transformers bring safety benefits over liquid-immersed transformers, eliminating leaks and spills. Moreover, growth in indoor installation of transformers is a big boost for dry-type transformers.
Some of the major players profiled in the report include Hammond Power Solutions, ABB, Eaton Corporation, Siemens, CG Power and Industrial Solutions, Voltamp Transformers, and Schneider Electric, amongst others.
Source: Absolute Reports
To learn more about developments in dry-type transformer technology, stay tuned with the June issue of Transformer Technology magazine: The Dry Type Revolution.