This Cast Resin Dry Type Transformer market report covers market characteristics, size & growth, segmentation, regional & country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The cast resin dry type transformer market size has grown strongly in recent years. It will grow from $4.2 billion in 2024 to $4.48 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to the growth of urban areas and infrastructure development, increasing focus on energy efficiency and conservation, proliferation of data centers and it infrastructure, expansion of industrial automation and robotics, and increasing economic growth.
The cast resin dry type transformer market size is expected to see strong growth in the next few years. It will grow to $5.9 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed toThe growth of smart grid systems, electric vehicle expansion, increasing support for sustainable and green energy initiatives, expansion of electrified public transportation systems, and increasing infrastructure development. Major trends in the forecast period include integration of digital technologies, electrification projects in emerging markets, iot integration, adoption of advanced transformer technologies, and technological advancements.
An increase in electricity demand is projected to drive the growth of the cast resin dry type transformer market in the coming years. Cast resin dry type transformers play a crucial role in converting voltage to meet industry specifications. They are utilized for various electrical applications, including reducing voltage for traditional power circuits to operate low-voltage devices and increasing voltage in generators to transmit electricity over long distances. For example, in October 2022, a report from Exxon Mobil Corporation, a US-based natural gas company, indicated that global electricity demand is expected to grow by 1.8% annually, potentially reaching nearly 50% of this sector by 2050. Consequently, the rising demand for electricity is anticipated to propel the cast resin dry type transformer market during the forecast period.
Favorable government policies aimed at increasing electrification are expected to drive the growth of the cast resin dry type transformer market in the future. Various countries worldwide are implementing initiatives to enhance electrification, motivated by factors such as the need to reduce greenhouse gas emissions, improve energy security, and ensure access to electricity for all. For example, in March 2023, the World Economic Forum, a Switzerland-based International Organization for Public-Private Cooperation, reported that by 2025, renewable energy capacity is projected to represent 35% of global power generation. Electricity demand is anticipated to rise by 3% annually over the next three years compared to 2022. Additionally, the share of renewables in the global power generation mix is expected to increase from 29% to 35% by 2025. Therefore, favorable government policies to boost electrification will drive the cast resin dry type transformer market during the forecast period.
A noteworthy trend in the cast resin dry-type transformer market is the introduction of dry-type single-phase transformers. These transformers, designed for single-phase electrical systems, transfer electrical energy between two voltage levels without using liquid insulating or cooling substances like oil, as seen in oil-immersed transformers. Siemens Energy AG, a Germany-based energy development company, introduced CAREPOLE, a dry-type single-phase transformer for pole applications in the US in April 2022. The CAREPOLE, characterized by its cast-resin design, offers a stable and environmentally friendly alternative to oil-filled transformers. Notably, its self-extinguishing feature enhances fire safety, eliminating the risk of explosions and significantly reducing environmental concerns associated with oil-based alternatives.
A prominent trend in the cast resin dry-type transformer market is the development of innovative onboard traction transformers with integrated cooling systems. This technology represents a significant leap in electric traction systems, particularly for trains, trams, and other electric vehicles. By integrating the functions of a traction transformer and a cooling system into a single unit, this innovation offers various advantages, including enhanced efficiency, space optimization, and overall performance improvement. For instance, Hitachi Energy, a Switzerland-based company specializing in sustainable energy solutions, introduced RESIBLOC Rail in September 2022. This innovative onboard traction transformer with an integrated cooling system is a notable advancement in dry-type transformers for trains, serving essential functions such as traction, lighting, heating and ventilation, brakes, signaling, and communication.
In September 2024, Hammond Power Solutions Inc. acquired Micron Industries Pvt. Ltd. for an undisclosed amount. This acquisition is intended to enhance its product portfolio and expand its market presence in India. This strategic move is expected to leverage Micron's expertise in electrical solutions, allowing for innovative offerings and improved customer service. Micron Industries Pvt. Ltd. is an India-based company that specializes in the manufacturing and supply of various industrial products.
Major companies operating in the cast resin dry type transformer market include Kirloskar Electric Co. Ltd., Schneider Electric SE, Siemens AG, ABB Ltd., Bharat Heavy Electricals Limited, Crompton Greaves Limited, Eaton Corporation, Fuji Electric Co. Ltd., General Electric Company, Hammond Power Solutions Inc., Hitachi Ltd., Voltamp Transformers Limited, WEG Industries, Hyosung Heavy Industries Corporation, Legrand SA, PI. CAST-RESIN Sp. z o.o., Power Sp. z o.o., TBEA Co. Ltd., Toshiba Corporation, CG Power and Industrial Solutions Ltd., Efacec Power Solutions SGPS SA, Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, Schneider Electric Infrastructure Limited, Siemens Limited, Trafomodern Transformatorengesellschaft mbH, Wilson Power Solutions Ltd., Alstom SA, Brush Electrical Machines Ltd.
A cast resin dry-type transformer is an insulation-sealed transformer that eliminates the need for liquid insulation by encapsulating its primary and secondary windings with epoxy resin. The use of cast resin provides protection against adverse environmental conditions, and these transformers are generally more compact and lighter than their counterparts. They find applications in diverse settings, including commercial, industrial, and residential environments, both indoors and outdoors. Cast coil transformers exhibit superior impulse voltage withstand strength compared to traditional dry-type transformers, facilitating the conversion of alternating current from one voltage to another.
Two main categories of cast resin dry-type transformers are converter transformers and rectifier transformers. Converter transformers are employed in industries for converting alternating current (AC) to direct current (DC). Cooling options for these transformers include natural air cooling and forced air cooling. The phases of cast resin dry-type transformers encompass single phase, three phase, and low voltage, as well as medium voltage. These transformers serve various applications in industrial, commercial, and other sectors.
The cast resin dry type market research report is one of a series of new reports that provides cast resin dry type market statistics, including cast resin dry type industry global market size, regional shares, competitors with a cast resin dry type market share, detailed cast resin dry type market segments, market trends and opportunities, and any further data you may need to thrive in the cast resin dry type industry. This cast resin dry type market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Asia-Pacific was the largest region in the cast resin dry type transformer market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cast resin dry type market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the cast resin dry type transformer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The cast resin dry type transformer market consists of sales of electrical transformer, auxiliary, isolation, lightning, excitation and rectifier. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The cast resin dry type transformer market size has grown strongly in recent years. It will grow from $4.2 billion in 2024 to $4.48 billion in 2025 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to the growth of urban areas and infrastructure development, increasing focus on energy efficiency and conservation, proliferation of data centers and it infrastructure, expansion of industrial automation and robotics, and increasing economic growth.
The cast resin dry type transformer market size is expected to see strong growth in the next few years. It will grow to $5.9 billion in 2029 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed toThe growth of smart grid systems, electric vehicle expansion, increasing support for sustainable and green energy initiatives, expansion of electrified public transportation systems, and increasing infrastructure development. Major trends in the forecast period include integration of digital technologies, electrification projects in emerging markets, iot integration, adoption of advanced transformer technologies, and technological advancements.
An increase in electricity demand is projected to drive the growth of the cast resin dry type transformer market in the coming years. Cast resin dry type transformers play a crucial role in converting voltage to meet industry specifications. They are utilized for various electrical applications, including reducing voltage for traditional power circuits to operate low-voltage devices and increasing voltage in generators to transmit electricity over long distances. For example, in October 2022, a report from Exxon Mobil Corporation, a US-based natural gas company, indicated that global electricity demand is expected to grow by 1.8% annually, potentially reaching nearly 50% of this sector by 2050. Consequently, the rising demand for electricity is anticipated to propel the cast resin dry type transformer market during the forecast period.
Favorable government policies aimed at increasing electrification are expected to drive the growth of the cast resin dry type transformer market in the future. Various countries worldwide are implementing initiatives to enhance electrification, motivated by factors such as the need to reduce greenhouse gas emissions, improve energy security, and ensure access to electricity for all. For example, in March 2023, the World Economic Forum, a Switzerland-based International Organization for Public-Private Cooperation, reported that by 2025, renewable energy capacity is projected to represent 35% of global power generation. Electricity demand is anticipated to rise by 3% annually over the next three years compared to 2022. Additionally, the share of renewables in the global power generation mix is expected to increase from 29% to 35% by 2025. Therefore, favorable government policies to boost electrification will drive the cast resin dry type transformer market during the forecast period.
A noteworthy trend in the cast resin dry-type transformer market is the introduction of dry-type single-phase transformers. These transformers, designed for single-phase electrical systems, transfer electrical energy between two voltage levels without using liquid insulating or cooling substances like oil, as seen in oil-immersed transformers. Siemens Energy AG, a Germany-based energy development company, introduced CAREPOLE, a dry-type single-phase transformer for pole applications in the US in April 2022. The CAREPOLE, characterized by its cast-resin design, offers a stable and environmentally friendly alternative to oil-filled transformers. Notably, its self-extinguishing feature enhances fire safety, eliminating the risk of explosions and significantly reducing environmental concerns associated with oil-based alternatives.
A prominent trend in the cast resin dry-type transformer market is the development of innovative onboard traction transformers with integrated cooling systems. This technology represents a significant leap in electric traction systems, particularly for trains, trams, and other electric vehicles. By integrating the functions of a traction transformer and a cooling system into a single unit, this innovation offers various advantages, including enhanced efficiency, space optimization, and overall performance improvement. For instance, Hitachi Energy, a Switzerland-based company specializing in sustainable energy solutions, introduced RESIBLOC Rail in September 2022. This innovative onboard traction transformer with an integrated cooling system is a notable advancement in dry-type transformers for trains, serving essential functions such as traction, lighting, heating and ventilation, brakes, signaling, and communication.
In September 2024, Hammond Power Solutions Inc. acquired Micron Industries Pvt. Ltd. for an undisclosed amount. This acquisition is intended to enhance its product portfolio and expand its market presence in India. This strategic move is expected to leverage Micron's expertise in electrical solutions, allowing for innovative offerings and improved customer service. Micron Industries Pvt. Ltd. is an India-based company that specializes in the manufacturing and supply of various industrial products.
Major companies operating in the cast resin dry type transformer market include Kirloskar Electric Co. Ltd., Schneider Electric SE, Siemens AG, ABB Ltd., Bharat Heavy Electricals Limited, Crompton Greaves Limited, Eaton Corporation, Fuji Electric Co. Ltd., General Electric Company, Hammond Power Solutions Inc., Hitachi Ltd., Voltamp Transformers Limited, WEG Industries, Hyosung Heavy Industries Corporation, Legrand SA, PI. CAST-RESIN Sp. z o.o., Power Sp. z o.o., TBEA Co. Ltd., Toshiba Corporation, CG Power and Industrial Solutions Ltd., Efacec Power Solutions SGPS SA, Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, Schneider Electric Infrastructure Limited, Siemens Limited, Trafomodern Transformatorengesellschaft mbH, Wilson Power Solutions Ltd., Alstom SA, Brush Electrical Machines Ltd.
A cast resin dry-type transformer is an insulation-sealed transformer that eliminates the need for liquid insulation by encapsulating its primary and secondary windings with epoxy resin. The use of cast resin provides protection against adverse environmental conditions, and these transformers are generally more compact and lighter than their counterparts. They find applications in diverse settings, including commercial, industrial, and residential environments, both indoors and outdoors. Cast coil transformers exhibit superior impulse voltage withstand strength compared to traditional dry-type transformers, facilitating the conversion of alternating current from one voltage to another.
Two main categories of cast resin dry-type transformers are converter transformers and rectifier transformers. Converter transformers are employed in industries for converting alternating current (AC) to direct current (DC). Cooling options for these transformers include natural air cooling and forced air cooling. The phases of cast resin dry-type transformers encompass single phase, three phase, and low voltage, as well as medium voltage. These transformers serve various applications in industrial, commercial, and other sectors.
The cast resin dry type market research report is one of a series of new reports that provides cast resin dry type market statistics, including cast resin dry type industry global market size, regional shares, competitors with a cast resin dry type market share, detailed cast resin dry type market segments, market trends and opportunities, and any further data you may need to thrive in the cast resin dry type industry. This cast resin dry type market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Asia-Pacific was the largest region in the cast resin dry type transformer market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cast resin dry type market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the cast resin dry type transformer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The cast resin dry type transformer market consists of sales of electrical transformer, auxiliary, isolation, lightning, excitation and rectifier. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Cast Resin Dry Type Transformer Market Characteristics3. Cast Resin Dry Type Transformer Market Trends and Strategies4. Cast Resin Dry Type Transformer Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics and Covid and Recovery on the Market32. Global Cast Resin Dry Type Transformer Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Cast Resin Dry Type Transformer Market34. Recent Developments in the Cast Resin Dry Type Transformer Market
5. Global Cast Resin Dry Type Transformer Growth Analysis and Strategic Analysis Framework
6. Cast Resin Dry Type Transformer Market Segmentation
7. Cast Resin Dry Type Transformer Market Regional and Country Analysis
8. Asia-Pacific Cast Resin Dry Type Transformer Market
9. China Cast Resin Dry Type Transformer Market
10. India Cast Resin Dry Type Transformer Market
11. Japan Cast Resin Dry Type Transformer Market
12. Australia Cast Resin Dry Type Transformer Market
13. Indonesia Cast Resin Dry Type Transformer Market
14. South Korea Cast Resin Dry Type Transformer Market
15. Western Europe Cast Resin Dry Type Transformer Market
16. UK Cast Resin Dry Type Transformer Market
17. Germany Cast Resin Dry Type Transformer Market
18. France Cast Resin Dry Type Transformer Market
19. Italy Cast Resin Dry Type Transformer Market
20. Spain Cast Resin Dry Type Transformer Market
21. Eastern Europe Cast Resin Dry Type Transformer Market
22. Russia Cast Resin Dry Type Transformer Market
23. North America Cast Resin Dry Type Transformer Market
24. USA Cast Resin Dry Type Transformer Market
25. Canada Cast Resin Dry Type Transformer Market
26. South America Cast Resin Dry Type Transformer Market
27. Brazil Cast Resin Dry Type Transformer Market
28. Middle East Cast Resin Dry Type Transformer Market
29. Africa Cast Resin Dry Type Transformer Market
30. Cast Resin Dry Type Transformer Market Competitive Landscape and Company Profiles
31. Cast Resin Dry Type Transformer Market Other Major and Innovative Companies
35. Cast Resin Dry Type Transformer Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Cast Resin Dry Type Transformer Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on cast resin dry type transformer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for cast resin dry type transformer? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cast resin dry type transformer market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Converter Transformer; Rectifier Transformer2) By Cooling Type: Natural Air Cooling; Forced Air Cooling
3) By Phase: Single Phase; Three Phase
4) By Voltage: Low Voltage; Medium Voltage
5) By Application: Industrial; Commercial; Other Applications
Subsegments:
1) By Converter Transformer: Single-Phase Converter Transformer; Three-Phase Converter Transformer2) By Rectifier Transformer: Single-Phase Rectifier Transformer; Three-Phase Rectifier Transformer
Key Companies Mentioned: Kirloskar Electric Co. Ltd.; Schneider Electric SE; Siemens AG; ABB Ltd.; Bharat Heavy Electricals Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies featured in this Cast Resin Dry Type Transformer market report include:- Kirloskar Electric Co. Ltd.
- Schneider Electric SE
- Siemens AG
- ABB Ltd.
- Bharat Heavy Electricals Limited
- Crompton Greaves Limited
- Eaton Corporation
- Fuji Electric Co. Ltd.
- General Electric Company
- Hammond Power Solutions Inc.
- Hitachi Ltd.
- Voltamp Transformers Limited
- WEG Industries
- Hyosung Heavy Industries Corporation
- Legrand SA
- PI. CAST-RESIN Sp. z o.o.
- Power Sp. z o.o.
- TBEA Co. Ltd.
- Toshiba Corporation
- CG Power and Industrial Solutions Ltd.
- Efacec Power Solutions SGPS SA
- Hyundai Heavy Industries Co. Ltd.
- Mitsubishi Electric Corporation
- Schneider Electric Infrastructure Limited
- Siemens Limited
- Trafomodern Transformatorengesellschaft mbH
- Wilson Power Solutions Ltd.
- Alstom SA
- Brush Electrical Machines Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 4.48 Billion |
| Forecasted Market Value ( USD | $ 5.9 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
