Global dry transformer market

1. Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 View report Sample report Press release Summary Global Dry Transformer Market, By Type (Cast Coil, Vacuum Pressure Impregnated (VPI), Open Wound, Vacuum Pressure Encapsulated (VPE), By Phase (Single Phase, Triple Phase), By Power Rating (<5 MVA, 5 MVA to 30 MVA, >30 MVA), By Installation (Indoor, Outdoor), By Application (Oil & Gas, Metals & Mining, Marine, Commercial, Others), By Region (North America, Europe, The Asia-Pacific, South America, The Middle East and Africa) Tre nd Analysis, Competitive Market Share & Forecast, 2017-2027. Report Overview The global dry transformer market is expected to continue expanding due to the boom in oil and gas industry, increasing demand for energy efficiency, and increasing adoption of dry-transformers for mining applications. The global dry transformer market was worth USD 4,752.4 million in 2020. The market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period. The booming oil & gas industry, growing demand for clean and cost-efficient energy, growing adoption of dry-transformer for mining applications are some of the factors driving the growth of the global dry- transformers market.

2. Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period Global Dry Transformer Market Overview: A dry transformer is popularly known as a cast resin transformer, in which windings are encapsulated in epoxy resin. Dry transformers are easy to install since they do not require any oil for cooling and are completely dry. Additionally, they need not be kept in a fireproof vault. The protective epoxy coating keeps it dust and rust-free. Dry-type transformers can be installed indoors or outdoors and are suited for a wide range of applications, such as oil & gas, mining, and marine. Also, dry-transformers are often used in applications involving low and medium voltages. Global Dry Transformer Market Forecast and Trend Growth Drivers Booming Oil & Gas Industry The oil & gas industry is classified as the world’s largest industry in terms of revenue. Almost all nations rely heavily on their oil and gas industries for their GDP (gross domestic product). It is estimated that Saudi Arabia controls about 17% of the world's proven petroleum reserves, according to the Organization of Petroleum Exporting Countries. The oil & gas industry in Saudi Arabia accounts for roughly 50% of gross domestic product and 70% of export earnings. As the oil & gas industry demands high levels of safety and reliability, selecting the right equipment for its processes is highly essential. The oil & gas sector is booming, and the demand for dry transformers is rising due to their reliability. Since dry transformers do not contain any combustible materials, they are widely used in the oil and gas industry. Furthermore, the oil & gas industry is more exposed to toxic substances, machinery, and many other things. Therefore, special equipment such as dry transformers is required that can withstand high temperatures and resist corrosion. The Growing Demand for Clean and Cost-Efficient Energy The population of emerging countries has risen dramatically over time, resulting in an increase in energy consumption in recent years. Power and energy are in high demand in the Asia-Pacific region due to its growing population. The global population is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050, resulting in higher oil, electricity, and energy demands, as well as increased oil and natural gas use for energy generation. Therefore, the governments of different countries are emphasizing more on reducing carbon emissions for maintaining a cleaner and greener environment in the years to come. Additionally, different industries are analyzing environmental effects and operational costs, which has led to new dry-type transformers that are less leaky and have improved efficiency up to 99.6%. Dry transformers are tested to withstand all the odds such as sandy storms and strong winds. As a result, these transformers are widely adopted. Moreover, the transformer is virtually maintenance-free, ensuring its reliable performance. What’s more, dry-type

3. Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period transformers use no oil and use few flammable materials, which minimizes the threat of fire and contamination inside the transformer. Restraints Growing Demand for Oil-Cooled Transformers The major disadvantage of a dry-type transformer over an oil-cooled transformer is related to the efficiency offered by the latter. Since oil-cooled transformers have a longer lifespan than dry-type transformers, they are considered more efficient. In addition, oil-cooled transformers make less noise, thereby reducing noise pollution. Unlike wet transformers, dry transformers are not accustomed to overloaded workloads that can cause overheating, resulting in rapid deterioration of the insulation as well as system failure. The oil-cooled transformers, on the other hand, are well suited to handle the overload, and this restrains the growth of the global dry-transformer market. Impact of COVID-19 in the Industry COVID-19 affected all industries and supply chains around the world, with some growing and others stagnating. The COVID-19 wave swept across Europe, and the announcements of lockdowns from governments triggered a domino effect. Borders were sealed, nationwide lockdowns were announced, trades were stopped, and industries were closed or forced to run on reduced capacity. However, by the end of the year 2020, industries began reopening, but markets remained suspicious, and most markets were still recovering from the effects of the COVID-19. Moreover, vaccination drives had given hope that the market would recover, but the second wave of the COVID-19 and the threat of the upcoming third wave of the pandemic has affected the pace of recovery to a great extent. Global Dry Transformer Market: By Type Based on types, the global dry-transformer market is segmented into Cast Coil, Vacuum Pressure Impregnated (VPI), Open Wound, and Vacuum Pressure Encapsulated (VPE) transformer. The cast coil type transformer dominated the market in 2020 as these types of dry transformers are very consistent even under extreme weather conditions. Also, these transformers are ideally suited for harsh environments rather than liquid-filled transformers due to their low maintenance requirement and ability to withstand high short circuits. Global Dry Transformer Market: Regional insights Based on regions, the global dry transformer market is segmented into North America, Europe, Asia-Pacific, Middle East &Africa, and South America. The Asia- Pacific region dominated the global dry-transformer market in 2020 and accounted for the largest market share owing to the rapid expansion of the oil & gas industry and increasing mining activities taking place in the region. In addition, the growing adoption of EVs and different government initiatives to install charging stations in the APAC countries have propelled the growth of the dry transformer market in the Asia Pacific.

4. Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period Competitive Landscape The Key Players in the Global Dry-Transformer Market areSchneider Electric, Siemens Energy AG, Hitachi ABB Power Grids Ltd., Eaton Corporation Plc, WEG Industries. Toshiba Corporation, TBEA Co., Alfanar, Jinpan Technology, Hammond Power Solutions Inc., Bharat Heavy Electricals Limited, Olsun Electrics Corporation, Voltamp Transformers Limited, Kirloskar Electric Company, and other prominent players. Companies in the global dry transformer market compete based on the products and services they provide to clients for various applications. The market is highly consolidated, with a few key players taking the lion's share. Recent Developments  In April 2021, EconiQ, Hitachi ABB Power Grids' range of products, services, and solutions that have been proven to offer superior environmental performance, was launched on April 21, 2021. The global technology and industry leader, EconiQ, is reaffirming its commitment to a carbon-free energy future. In April 2021,Schneider Electric introduced the Galaxy VL 200-500 kW (400V/480V) three-phase uninterruptible power supply (UPS) for industrial applications. Galaxy's newest model is a highly efficient, ruggedized, compact UPS, which generates a return on investment within two years (model dependent), and is ideal for use in industrial facilities.  Scope of the Report Attribute Details Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 Years Considered Facts Covered Revenue in USD Million United States, Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa Market Coverage

5. Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period By Type, By Phase, By Power Rating, By Installation, By Application, By Region Product/Service Segmentation Key players in the market are Schneider electric, Siemens Energy AG, Hitachi ABB Power Grids Ltd. Eaton Corporation Industries. Toshiba Corporation, TBEA Co., Alfanar, Jinpan Technology, Hammond Power Bharat Heavy Electricals Limited, Olsun Electrics Corporation, Voltamp Transformers Limited, Electric Company, prominent players. Plc, WEG Key Players Solutions Inc., Kirloskar and other Scope of the Report By Type oCast Coil oVacuum Pressure Impregnated (VPI) oOpen Wound oVacuum Pressure Encapsulated (VPE) By Phase oSingle-Phase oThree-Phase By Power Rating o<5 MVA o5 MVA to 30 MVA o>30 MVA By Installation oIndoor oOutdoor By Application oOil & gas oMetals & Mining oMarine oCommercial oOthers By Region  oNorth America oEurope oThe Asia-Pacific oSouth America     

6. Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period oThe Middle East and Africa FAQs 1.What is the current size of the global dry transformer market? Answer: The global dry transformer market has reached USD 4,752.4 million in 2020. 2.What are the major factors driving the growth of the global dry transformer market? Answer: The major factors driving the growth of the global drytransformer market arebooming oil & gas industry, growing demand for clean and cost-efficient energy, growing adoption of dry-transformer for mining applications. 3.Who are the key players in the global dry transformer market? Answer: The key players in the global dry transformer market are Schneider electric, Siemens Energy AG, Hitachi ABB Power Grids Ltd. Eaton Corporation Plc, WEG Industries. Toshiba Corporation, TBEA Co., Alfanar, Jinpan Technology, Hammond Power Solutions Inc., Bharat Heavy Electricals Limited, Olsun Electrics Corporation, Voltamp Transformers Limited, Kirloskar Electric Company, and other prominent players. 4.Which type accounted for the largest share in the global dry transformer market? Answer: Cast coil type accounted for the largest share in the global dry transformer market. 1.Which region held the largest market share in the global dry transformer market? 2.Answer: The Asia-Pacific region held the largest market share in the global dry-transformer market

7. Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade- off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com

8. Global dry transformer market is further expected to reach USD 6,967.6 million by 2027 with a CAGR of 6.2% during the forecast period