A report on the global dry-type transformer market by Market Reports World titled “Global Dry-Type Transformer Market - Analysis of Growth, Trends and Forecasts (2018 - 2023)” provides a complete outlook of market along with the impact of various factors influencing the market growth and drivers.
According to the report, the global dry-type transformer market is likely to grow at a significant rate, due to increasing demand for electricity, growing focus on reduction of fire hazards, expansions in power infrastructure, etc.
The dry-type transformers are eco-friendly products with safety advantages over wet-type transformers, which is a big boost for this market. Increasing investments in the transmission and distribution networks in countries like China and India provides tremendous opportunity for dry-type transformers market during the forecast period.
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.
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 through to 2023.
The key manufacturers covered in this report include Hammond Power Solutions, ABB, Eaton Corporation, Siemens, CG Power and Industrial Solutions, Voltamp Transformers, Schneider Electric, Jinpan International USA, Bharat Heavy Electricals, General Electric Company, Virginia Transformer Corp.
Source: Market Reports World