United States Dry Type Transformer Market Report and Forecast 2024-2032

United States Dry Type Transformer Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the United States dry type transformer market reached a value of USD 2.28 billion in 2023. Aided by the escalating demand for electrical energy, advancements in power infrastructure, and heightened awareness regarding fire safety in electrical installations, the market is projected to further grow at a CAGR of 7.3% between 2024 and 2032 to reach a value of USD 4.35 billion by 2032.

Dry type transformers, known for their lack of liquid coolants, are an integral component of modern electrical distribution systems. These transformers offer several advantages over their oil-filled counterparts, including reduced fire risk, minimal maintenance requirements, and the ability to operate in environmentally sensitive areas. They are widely used in various applications, such as commercial buildings, industrial plants, and within power distribution networks.

The United States dry type transformer market growth is driven by several key factors. The ongoing urbanisation and industrialisation, coupled with the renovation of aging electrical infrastructure, are significant drivers. There is a growing emphasis on enhancing the reliability and efficiency of power distribution to support the burgeoning demand for electricity in residential, commercial, and industrial sectors.

Furthermore, the increasing focus on environmental sustainability and safety standards is propelling the United States dry type transformer market demand. These transformers are favoured in applications where safety is paramount, such as in schools, hospitals, and shopping malls, due to their reduced fire risk and absence of toxic coolants. Additionally, stringent regulations aimed at reducing environmental impact and improving fire safety standards in electrical installations are encouraging the adoption of dry type transformers.

According to the United States dry type transformer market analysis, technological advancements in transformer design and materials have also played a crucial role in market growth. Modern dry type transformers are more efficient, have higher power capacity, and are capable of operating in harsh environmental conditions. Manufacturers are continuously innovating to develop transformers that offer improved performance, durability, and energy efficiency, catering to the evolving needs of the market.

Looking ahead, the market is set for sustained growth, underpinned by the continuous expansion of the power distribution network and the increasing emphasis on fire safety and environmental sustainability in electrical installations. The push towards renewable energy sources and the electrification of transport are expected to further drive the demand for dry type transformers, as these applications often require reliable and safe power distribution solutions.

Market Segmentation

The market can be divided based on type, phase, voltage, and region.

Market Breakup by Type

• Power Transformer
• Distribution Transformer

Market Breakup by Phase

• Single-Phase
• Three-Phase

Market Breakup by Voltage

• Low
• Medium
• High

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States dry type transformer market. Some of the major players explored in the report by Expert Market Research are as follows:

• ABB Ltd.
• Schneider Electric SE
• Siemens AG
• HD Hyundai Electric Co., Ltd.
• Eaton Corporation Plc
• Emerson Electric Co.
• Kirloskar Electric Co., Ltd.
• Hammond Power Solutions Inc.
• JST Power Equipment, Inc.
• MGM Transformer Company
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.