Dry-Type Transformer Market by Type (Cast Coil Resin, Vacuum Pressure Encapsulated, Vacuum Pressure Impregnated), Phase (Single-Phase, Three-Phase), Voltage, Installation, Application - Global Forecast 2024-2030
The Dry-Type Transformer Market size was estimated at USD 5.80 billion in 2023 and expected to reach USD 6.14 billion in 2024, at a CAGR 5.98% to reach USD 8.71 billion by 2030.
Dry-type transformers are electrical transformers that employ solid dielectric materials for insulation purposes, as opposed to liquid insulating mediums found in oil-filled transformers. These transformers are designed for safe and efficient operation in various application areas, including commercial buildings, industrial facilities, and outdoor environments. Rapid urbanization and increasing demand for electricity worldwide have increased the need for efficient and reliable power supply systems. Additionally, there is an increasing demand for dry-type transformers from the oil & gas and chemical industries, which require safe and efficient electrical equipment in their operations. However, the high cost of production may adversely impact the deployment of dry-type transformers across the end-use sectors. Rising investments in energy transmission and distribution networks are expected to increase the demand for dry-type transformers worldwide to provide safety, efficiency, and reliability.
Regional Insights
Stringent regulations regarding energy efficiency and the development of smart grids are driving the adoption of dry-type transformers in the Americas. Additionally, increasing focus on improving the power infrastructure is resulting in increased demand for dry-type transformers in the Americas. Rise in industrialization and urbanization coupled with increasing investments toward renewable energy projects, such as solar parks and wind farms have further propelled the demand for dry-type transformers in the APAC region. In the EMEA region, environmental concerns regarding greenhouse gas emissions have led to an elevated focus on clean energy projects and boosted the adoption of dry-type transformers in the region. Additionally, advancements and improvements in dry-type transformers can enhance their efficiency and safety and are anticipated to increase the adoption of dry-type transformers by the end-use sectors across the globe.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Dry-Type Transformer Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Increasing demand from oil & gas and chemical industries
- Rapid urbanization and widening urban transportation infrastructures worldwide
- Rise in renewable energy generation worldwide
- Market Restraints
- High cost of production of dry-type transformers
- Market Opportunities
- Advancement and new developments in dry-type transformers
- Increasing investments in energy transmission and distribution networks
- Market Challenges
- Technical and operational issues in dry-type transformers
- Market Segmentation Analysis
- Type: Significant penetration of vacuum pressure-impregnated dry-type transformers in industrial sector
- Phase: Expanding use of three-phase transformers in utility sector
- Voltage: Proliferating use of low voltage (LV) dry-type transformers in residential infrastructures
- Installation: Increasing utilization of outdoor dry-type transformers owing to resistance to extreme weather conditions
- Application: Rapidly increasing commercial infrastructure developments to propel use of dry-type transformers
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Dry-Type Transformer Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Dry-Type Transformer Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Aramco Awards USD 41 Million Contract to Saudi Power Transformers
Saudi Power Transformers, a subsidiary of the Electrical Industries Company (EIC), secured a significant contract worth USD 41 million from Aramco. The project involves the supply of dry-type transformers and is scheduled for completion within a span of 20 months.This contract is expected to have a positive impact on EIC's financial results for the year 2025, further solidifying its position in the industry. This achievement underscores the expertise and capabilities of EIC in the field of transformer manufacturing and highlights its continued commitment to delivering high-quality products and services.
ARALDITE Insulation Epoxy Successfully Applied in the World’s Largest Dry-Type Power Transformer
Huntsman Corporation and TBEA Group's Advanced Materials experts collaborated on the development of a dry-type transformer (DDT). This dry-type power transformer measures an impressive 9.6 meters of length, 6.3 meters in width, and 5 meters in height. This successful trial paves the way for alternative power transmission and distribution options in high-voltage areas and eliminates the environmental risks associated with flammability and potential leaks found in oil-type transformers. The insulation epoxies employed in the manufacturing of dry-type transformers were proven to be highly effective, showcasing exceptional properties such as anti-cracking capabilities, electrical insulation, and optimal thermal conductivity.
Eaton Acquires 49% Stake in Jiangsu Ryan Electrical Co. Ltd.
The 49% stake acquisition in Jiangsu Ryan Electrical Co. Ltd. by Eaton Corporation plc, power management company, represents a significant milestone in China's power distribution and sub-transmission dry-type transformer industry. The collaboration between Eaton and Ryan aims to enhance customer service for clients in the Asia-Pacific region and worldwide, providing solutions that facilitate the transition to renewable energy sources.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Dry-Type Transformer Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Dry-Type Transformer Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Alfanar Group, Bharat Heavy Electricals Limited, Brilltech Engineers Pvt. Ltd., CG Power & Industrial Solutions Ltd., Eaton Corporation PLC, EBG SRL, Elettromeccanica India Pvt. Ltd., ELSCO, F.D.U.E.G. Srl, Fuji Electric Co., Ltd., GBE S.p.A, General Electric Company, Hammond Power Solutions Inc., HD Hyundai Electric Co., Ltd., Hitachi, Ltd., Hubbell Incorporated, IMEFY S.p.A, Jefferson Electric Inc, Kirloskar Electric Company Ltd., Krempel GmbH, Maddox Industrial Transformer LLC, MGM Transformer Company, Micron Industries Corp., Olsun Electrics Corporation, Professional TAILI Electric Co.,Ltd., R&S International Holding AG, Raychem RPG Private Limited, Schneider Electric SE, SGB-SMIT GmbH, Siemens AG, Spang & Co., Sunbelt Solomon, TBEA Co., Ltd., TMC Transformers S.p.A., Toshiba Corporation, TRAFO ELETTRO S.R.L., Trafo Power Solutions Pty Ltd, Transfos MARY, Virginia Transformer Corp., Voltamp Transformers Ltd., WEG S.A., Wilson Power And Distribution Technologies Pvt. Ltd., and YueBian Electric Co.,Ltd..
Market Segmentation & Coverage
This research report categorizes the Dry-Type Transformer Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Cast Coil Resin
- Vacuum Pressure Encapsulated
- Vacuum Pressure Impregnated
- Phase
- Single-Phase
- Three-Phase
- Voltage
- Low Voltage
- Medium Voltage
- Installation
- Indoor
- Outdoor
- Application
- Commercial
- Industrial
- Residential
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing demand from oil & gas and chemical industries
- 5.1.1.2. Rapid urbanization and widening urban transportation infrastructures worldwide
- 5.1.1.3. Rise in renewable energy generation worldwide
- 5.1.2. Restraints
- 5.1.2.1. High cost of production of dry-type transformers
- 5.1.3. Opportunities
- 5.1.3.1. Advancement and new developments in dry-type transformers
- 5.1.3.2. Increasing investments in energy transmission and distribution networks
- 5.1.4. Challenges
- 5.1.4.1. Technical and operational issues in dry-type transformers
- 5.2. Market Segmentation Analysis
- 5.2.1. Type: Significant penetration of vacuum pressure-impregnated dry-type transformers in industrial sector
- 5.2.2. Phase: Expanding use of three-phase transformers in utility sector
- 5.2.3. Voltage: Proliferating use of low voltage (LV) dry-type transformers in residential infrastructures
- 5.2.4. Installation: Increasing utilization of outdoor dry-type transformers owing to resistance to extreme weather conditions
- 5.2.5. Application: Rapidly increasing commercial infrastructure developments to propel use of dry-type transformers
- 5.3. Market Trend Analysis
- 5.3.1. Presence of well-established energy conservation standards for dry-type transformers in the Americas
- 5.3.2. Adoption of dry-type transformers in expanding transportation and industrial sectors of Asia-Pacific region
- 5.3.3. Investment in smart grid infrastructure and new development in dry-type transformers in EMEA
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 6. Dry-Type Transformer Market, by Type
- 6.1. Introduction
- 6.2. Cast Coil Resin
- 6.3. Vacuum Pressure Encapsulated
- 6.4. Vacuum Pressure Impregnated
- 7. Dry-Type Transformer Market, by Phase
- 7.1. Introduction
- 7.2. Single-Phase
- 7.3. Three-Phase
- 8. Dry-Type Transformer Market, by Voltage
- 8.1. Introduction
- 8.2. Low Voltage
- 8.3. Medium Voltage
- 9. Dry-Type Transformer Market, by Installation
- 9.1. Introduction
- 9.2. Indoor
- 9.3. Outdoor
- 10. Dry-Type Transformer Market, by Application
- 10.1. Introduction
- 10.2. Commercial
- 10.3. Industrial
- 10.4. Residential
- 11. Americas Dry-Type Transformer Market
- 11.1. Introduction
- 11.2. Argentina
- 11.3. Brazil
- 11.4. Canada
- 11.5. Mexico
- 11.6. United States
- 12. Asia-Pacific Dry-Type Transformer Market
- 12.1. Introduction
- 12.2. Australia
- 12.3. China
- 12.4. India
- 12.5. Indonesia
- 12.6. Japan
- 12.7. Malaysia
- 12.8. Philippines
- 12.9. Singapore
- 12.10. South Korea
- 12.11. Taiwan
- 12.12. Thailand
- 12.13. Vietnam
- 13. Europe, Middle East & Africa Dry-Type Transformer Market
- 13.1. Introduction
- 13.2. Denmark
- 13.3. Egypt
- 13.4. Finland
- 13.5. France
- 13.6. Germany
- 13.7. Israel
- 13.8. Italy
- 13.9. Netherlands
- 13.10. Nigeria
- 13.11. Norway
- 13.12. Poland
- 13.13. Qatar
- 13.14. Russia
- 13.15. Saudi Arabia
- 13.16. South Africa
- 13.17. Spain
- 13.18. Sweden
- 13.19. Switzerland
- 13.20. Turkey
- 13.21. United Arab Emirates
- 13.22. United Kingdom
- 14. Competitive Landscape
- 14.1. Market Share Analysis, 2023
- 14.2. FPNV Positioning Matrix, 2023
- 14.3. Competitive Scenario Analysis
- 14.3.1. Aramco Awards USD 41 Million Contract to Saudi Power Transformers
- 14.3.2. ARALDITE Insulation Epoxy Successfully Applied in the World’s Largest Dry-Type Power Transformer
- 14.3.3. Eaton Acquires 49% Stake in Jiangsu Ryan Electrical Co. Ltd.
- 14.3.4. Virginia Transformer Earns Major Data Center Contract
- 14.3.5. Hitachi Energy Launches the Next-Generation TXpert Solution to Digitize Every Transformer
- 14.3.6. Virginia Transformer Inaugurates New Plant: The Most Sophisticated In North America
- 14.3.7. CG Power to Expand Transformer Production, Posts PAT of INR 126 crore for Quarter 3
- 14.3.8. WEG Announces Expansion Investments in the Transformer Factory of Itajubá, Brazil
- 14.3.9. Hitachi Energy Invests USD 37 Million to Expand Transformer Manufacturing Facility in South Boston, Virginia
- 14.3.10. Hitachi Energy Launches Innovative Oil-Free and Plug-And-Play Traction Transformer
- 14.3.11. Sunbelt Solomon and CORE Transformers Have Formalized a Strategic Partnership
- 14.3.12. Siemens Energy Presents Innovative Pole-Mounted Dry-Type Transformer for American Market
- 15. Competitive Portfolio
- 15.1. Key Company Profiles
- 15.2. Key Product Portfolio
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