Dry Type Transformer Market - Forecasts from 2021 to 2026

The global dry type transformer market is expected to grow at a compound annual growth rate of 3.83% over the forecast period to reach a market size of US$7.531 billion in 2026 from US$5.790 billion in 2019.

A dry type transformer is a type of transformer which never uses any insulating liquid where its winding or core are immerged in liquid. Rather, the windings and core are kept within a sealed tank that is pressurized with air. A dry-type transformer does not have any rotating parts; it is a motionless device that utilizes eco-friendly temperature insulation systems. This type of transformer is also named as “cast resin type transformers”. It is used in various commercial, industrial, as well as utility applications. Conventional liquid-type transformers are dependent on materials such as fire or oil resilient liquid dielectric. A dry type transformer is termed as “voltage changing,” which signifies that in this type the air gets cooled rather than cooling the liquid. The case in which the transformer is placed has proper ventilation; hence proper ventilation results in cooling of coils due to the air inside the case. Dry-type transformers, unlike conventional liquid transformers, are not required to be kept inside catch basins or fire-resistant vaults, and no toxic gases are released from them. As dry-type transformers are highly safe, they can be installed indoors as well as nearby loads, making the whole system more competent. Dry-type transformers are generally used in small as well as medium-voltage applications in electric devices, and are perfect for the industrial, utility, and commercial applications. Moreover, they have copper or aluminium windings that are covered with varnish.

The global market is driven by its wide applicability in the distribution of electricity. The expansion of electricity distribution network across the globe and rapid industrialization in developing countries drive the dry type transformer market growth. Heavy to small scale industries employ machineries that have specific voltage requirement. Some industries, such as oil & gas, mining, and marine have specialized voltage requirements, as fire safety is important in these sectors. In an effort to reduce the dependence of coal-based electricity generation, countries have agreed to increase the adoption of renewable energy generation in the total electricity produced. Dry type transformers are replacing wet transformers in the renewable energy sector due to their safety and design aspects. Safety accounts for greater significance in energy sector meaning that dry type transformer is becoming a transformer of choice in cleaner energy segment that offer extended protection. This is a major driving force for the global market.

However, when compared with liquid transformers such as oil-immersed transformer, dry type transformer such as cast resin transformer has relatively poor heat dissipation performance, while the heat dissipation performance of the oil radiator is better. Moreover, the complex construction of dry type transformer makes it costlier than oil-immersed transformer. These factors are expected to restrain the adoption of dry type transformers.

The global dry type transformer market is segmented on the basis of type, voltage and geography.

• On the basis of type, the global dry type transformer market has been segmented into cast resin and vacuum pressure impregnated.
• On the basis of voltage, the global dry type transformer market has been segmented into low and medium.
• On the basis of phase, the global dry type transformer market has been segmented into single phase and three phase.
• On the basis of end user industry, the global dry type transformer market has been segmented into energy and power, cement, metallurgical mining, pulp and paper, petrochemical, marine and others.
• On the basis of geography, the global dry type transformer market has been segmented into North America, South America, Europe, Middle East and Africa and Asia Pacific.

Growth Factors: Increasing demand for eco-friendly transformers

Globally, improving the usage of eco-friendly products is surging, which has led to the development of technologies that can help in accomplishing the environmental targets. The wet-type transformers are prone to safety-related issues due to lower cooling rate, thereby leading to leakages from overheating. The use of dry-type transformers eliminates leaks and spills; hence, they are eco-friendly in nature. The dry-type transformers are a handy option to replace wet-type transformers. Apart from leakages and spills, the wet-type transformers have high risk of catching fire. Therefore, additional protocols are required to manage fire and environmental risks. Moreover, growth in indoor installation of transformers is a big boost for dry-type transformers. The use of eco-friendly products in upgradation and development of power infrastructure is being focused upon, which creates business opportunities for dry-type transformers, globally. Therefore, focus on eco-friendly products is a big boost for the dry-type transformer market during the forecast period.

Impact of COVID - 19.

Complete or partial lockdown situation globally due to COVID-19 has led to supply chain disruption, leading to delays in project construction, having a direct impact on the commissioning of renewable electricity projects, biofuel facilities, and renewable heat investments. In the global solar industry, more than 40% of the supply chain is reliant on supply from China and other Southeast Asian countries. As China is the known source of this pandemic and the country is the most affected one in terms of material supply and material transport due to COVID-19. This factor has a huge impact on the dry type transformer market.

Competitive Insights

Prominent/major key market players in the global dry type transformer market include MGM Transformer Company, Acutran, Hitachi - ABB Group and Alfa Transformer among others. The players are implementing various growth strategies to gain a competitive advantage. Major market players have been covered along with their relative competitive strategies, and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global dry type transformer market.

Segmentation:

By Type

• Cast Resin
• Vacuum Pressure Impregnated

By Voltage

• Low
• Medium

By Phase

• Single Phase
• Three Phase

By End User Industry

• Energy and Power
• Cement
• Metallurgical Mining
• Pulp and Paper
• Petrochemical
• Marine
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• United Kingdom
• France
• Others
• Middle East and Africa
• Saudi Arabia
• South Africa
• Others
• Asia Pacific
• China
• Japan
• India
• South Korea
• Others