Global Dry Type Transformer Market: Overview
In order to ensure fire safety, dry type transformers are used in a variety of end-user categories, including high rises, schools, underground tunnels, hospitals, steel factories, and chemical industries. The technology used in dry type transformers does not harm the environment. These transformers are superior at impulse as well as short circuit strength, in addition to being moisture-proof. Nevertheless, the rising cost of dry type transformers as well as a shortage of government funding in grid extension and grid stability is likely to limit the expansion of the global dry type transformer market.
Due to rising energy needs, decreased fire risks, and a growing need to adopt safe means of distributing electricity for residential and commercial applications, the market for dry type transformers is expected to experience significant expansion in the upcoming years. I it is anticipated that the global dry type transformer market will continue to grow due to the safety and environmental benefits they provide over oil-filled transformers. Moreover, dry type transformers are favored over oil-filled transformers since they ensure security from fire hazard, take up less space, are lightweight, and are less expensive to install and maintain.
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Type, technology, phase, voltage, end use and region are important market factors that have been taken into consideration whilst classifying the global dry type transformer market.
Global Dry Type Transformer Market: Notable Developments
Low Voltage Custom transformers began to be palletized by MGM Transformer Company in April 2021. The whole array of transformers, from 10kVA to more than 10MVA, are available from the company, including both liquid-filled and dry type models.
Some of the major players in the global Dry Type Transformer market are as mentioned below
- Hyundai Electric & Energy Systems Co., Ltd.
- Hammond Power Solutions Inc.
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
Global Dry Type Transformer Market: Key Trends
Below-mentioned restraints, developments, drivers, and opportunities, are anticipated to shape contours of the global dry type transformer market
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Growth of the Global Market is Likely to be Driven by Increase in Funding for Transmission and Distribution Network
The market is anticipated to be driven by rising energy consumption and the incorporation of renewable power generation. The benefits that oil-cooled transformers have over dry type transformers, however, are anticipated to moderate the market’s development throughout the projection period. Due to rising spending on the transmission and distribution (T&D) network globally, the dry type distribution transformer category is anticipated to lead the market. The industry has enormous growth potential in the years to come owing to rapid electrification of nations in Asia Pacific and Africa.
The dry type transformer technology has greater impulse and short circuit strength and does not harm the environment. Thus, it becomes ideal for an extensive range of uses, including residential buildings and small business complexes.
Distribution transformers are made to operate at their highest efficiency even under low loads. Furthermore, in order to boost efficacy, the voltage control in these transformers is maintained to a minimum. Distribution transformers are therefore made with a low leakage reactance in consideration.
Global Dry Type Transformer Market: Geographical Analysis
Due to its rapid urbanization and industrialization, ;the Asia-Pacific region is anticipated to lead the global dry type transformer market. Green certificates are being promoted by China’s National Energy Administration (NEA), coupled with an ambitious renewable energy portfolio (REP). This is anticipated to increase demand for wind energy in China. The need for dry type transformers in the nation is anticipated to stay strong due to growing integration of renewable energy sources, notably from solar and wind PV.
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