Global Dry Type Transformer Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Cast Resin, Vacuum Pressure Impregnated), By Voltage (Low, Medium), By Phase (Single Phase, Three Phase), By End User Industry (Energy And Power, Cement, Metallurgical Mining, Pulp And Paper, Petrochemical, Marine, Others), And By Geography - Forecasts From 2021 To 2026

Published:  Jun 2021 Report Code: KSI061614105 Pages: 120

The global Dry Type Transformer market is expected to grow at a compound annual growth rate of 3.83% over the forecast period to reach a market size of US$7.531 billion in 2026, from US$5.790 billion in 2019. 

Dry-type transformers are widely used in small, and medium voltage applications in various electric units and devices. These types of transformers are also used for commercial, utility, and industrial applications. The windings in the transformers are usually of aluminum and copper material. Asia Pacific region is expected to register significant market growth, in the coming years. The growth of industries and rising electricity demand in countries, such as China and India, are expected to drive the market growth. The United States is also expected to have a major share due to the presence of major manufacturers and providers of dry-type transformers. Firms and corporations, worldwide, have been investing a significant sum of capital to develop novel and advanced dry types transformer products and solutions. These developments and trends are projected to have a major impact on market growth.

global dry type transformer market

Latest Developments

Major firms and corporations have been making a significant impact in the market, in the past few years.

  • In August 2021, Spire Power Solutions announced the acquisition of the V&F transformer Corporation assets. V&F transformer has been a major producer of customized dry-type transformers for power distribution and electrical power management solutions.
  • In May 2021, Trafo Power Solutions, a South African-based company, announced that it had designed a novel dry-type transformer that could be allowed to function at -40 degrees Celcius. The company had stated that the novel customized transformer would be supplied and delivered to a gold mine expansion unit and project in Kyrgyzstan.
  • In January 2021, Trafo Power Solutions announced that it had delivered 18 dry-type transformers to the LNG project in Mozambique.
  • In October 2020, Huapeng Transformer, one of the key players in the market, announced the launch of five novel transformer products. One of the products had been a single-phase dry-type power transformer. The company had stated that the products had been approved by the China Machinery Industry Federation.

global dry type transformer market

Increasing electricity demand

The market is expected to surge in the coming years, due to the rise in electricity demand and consumption, worldwide. According to the data given by the International Energy Agency, worldwide electricity demand increased by 1.9% in the year 2019. There has been a rise in the demand for advanced and innovative dry-type transformers, due to the increase in energy and electricity demand. Major firms and corporations have been making significant developments in the market. For instance, Hitachi ABB, one of the key players in the market, has been providing dry-type transformers with primary voltages of around 72.5 kV. The company had stated that their products have been built in accordance with major standards such as ANSI and IEC. These developments are expected to have a major role in the market growth, in the coming years.

Global Dry Type Transformer Market Market Scope:
Report Metric Details
 Market size value in 2019  US$5.790 billion
 Market size value in 2026  US$7.531 billion
 Growth Rate  CAGR of 3.83% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Voltage, Phase, End-User Industry, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  MGM Transformer Company, Acutran, Hitachi - ABB Group, Alfa Transformer,   Wilsons  Power Solutions, Synergy Transformers Pvt Ltd., Kirloskar Electric Company,   OTDS UK Ltd., FT Transformer Ltd., Kotsons Private Limited
 Customization scope  Free report customization with purchase

Segmentation:

  • By Type
    • Cast Resin
    • Vacuum Pressure Impregnated
  •  By Voltage
    • Low
    • Medium
  •  By Phase
    • Single Phase
    • Three Phase
  • By Industry vertical
    • Energy & Power
    • Cement
    • Metallurgical Mining
    • Pulp & Paper
    • Petrochemical
    • Marine
    • Others
  • By Geography
    • North America
      • USA
      • Canadá
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • South Africa
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the dry type transformer market size by 2026?
A1. The global dry type transformer market is expected to reach a market size of US$7.531 billion by 2026.


Q2. What is the size of the global dry type transformer market?
A2. Dry Type Transformer Market was valued at US$5.790 billion in 2019.


Q3. What are the growth prospects for the dry type transformer market?
A3. The dry type transformer market is expected to grow at a CAGR of 3.83% during the forecast period.


Q4. What factors are anticipated to drive the dry type transformer market growth?
A4. The expansion of the electricity distribution network across the globe and rapid industrialization in developing countries drive the dry-type transformer market growth.


Q5. Who are the major players in the dry type transformer market?
A5. Prominent/major key market players in the global dry type transformer market include MGM Transformer Company, Acutran, Hitachi - ABB Group, and Alfa Transformer among others. 

1. Introduction
1.1. Market Definition
1.2. Market Segmentation


2. Research Methodology
2.1. Research Data
2.2. Assumptions


3. Executive Summary
3.1. Research Highlights


4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis


5. Global Dry Type Transformer Market Analysis, By Type 
5.1. Introduction
5.2. Cast Resin
5.3. Vacuum Pressure Impregnated


6. Global Dry Type Transformer Market Analysis, By Voltage
6.1. Introduction
6.2. Low
6.3. Medium


7. Global Dry Type Transformer Market Analysis, By Phase
7.1. Introduction
7.2. Single Phase
7.3. Three Phase


8. Global Dry Type Transformer Market Analysis, By Industry vertical 
8.1. Introduction
8.2. Energy & Power
8.3. Cement
8.4. Metallurgical Mining
8.5. Pulp & Paper
8.6. Petrochemical
8.7. Marine
8.8. Others


9. Global Dry Type Transformer Market Analysis, by Geography 
9.1.  Introduction
9.2.  North America 
9.2.1. North America Dry Type Transformer Market Analysis, By Type, 2019 to 2026
9.2.2. North America Dry Type Transformer Market Analysis, By Voltage, 2019 to 2026
9.2.3. North America Dry Type Transformer Market Analysis, By Phase 2019 to 2026
9.2.4. North America Dry Type Transformer Market Analysis, By Industry vertical, 2019 to 2026
9.2.5. By Country
9.2.5.1.  United States
9.2.5.2.  Canada
9.2.5.3.  Mexico
9.3. South America 
9.3.1. South America Dry Type Transformer Market Analysis, By Type, 2019 to 2026
9.3.2. South America Dry Type Transformer Market Analysis, By Voltage, 2019 to 2026
9.3.3. South America Dry Type Transformer Market Analysis, By Phase, 2019 to 2026
9.3.4. South America Dry Type Transformer Market Analysis, By Industry vertical, 2019 to 2026
9.3.5. By Country
9.3.5.1.  Brazil
9.3.5.2.  Argentina
9.3.5.3.  Others
9.4. Europe 
9.4.1. Europe Dry Type Transformer Market Analysis, By Type, 2019 to 2026
9.4.2. Europe Dry Type Transformer Market Analysis, By Voltage, 2019 to 2026
9.4.3. Europe Dry Type Transformer Market Analysis, By Phase, 2019 to 2026
9.4.4. Europe Dry Type Transformer Market Analysis, By Industry vertical, 2019 to 2026
9.4.5. By Country
9.4.5.1.  UK
9.4.5.2.  Germany
9.4.5.3.  France
9.4.5.4.  Spain
9.4.5.5.  Others
9.5. The Middle East and Africa 
9.5.1. Middle East and Africa Dry Type Transformer Market Analysis, By Type, 2019 to 2026
9.5.2. Middle East and Africa Dry Type Transformer Market Analysis, By Voltage, 2019 to 2026
9.5.3. Middle East and Africa Dry Type Transformer Market Analysis, By Phase, 2019 to 2026
9.5.4. Middle East and Africa Dry Type Transformer Market Analysis, By Industry vertical, 2019 to 2026
9.5.5. By Country
9.5.5.1.  Saudi Arabia
9.5.5.2.  South Africa
9.5.5.3.  Others
9.6. Asia Pacific 
9.6.1. Asia Pacific Dry Type Transformer Market Analysis, By Type, 2019 to 2026
9.6.2. Asia Pacific Dry Type Transformer Market Analysis, By Voltage, 2019 to 2026
9.6.3. Asia Pacific Dry Type Transformer Market Analysis, By Phase, 2019 to 2026
9.6.4. Asia Pacific Dry Type Transformer Market Analysis, By Industry vertical, 2019 to 2026
9.6.5.  By Country
9.6.5.1.  Japan
9.6.5.2.  China
9.6.5.3.  India
9.6.5.4.  South Korea
9.6.5.5.  Taiwan
9.6.5.6.  Thailand
9.6.5.7.  Indonesia
9.6.5.8.  Others


10.  Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2.  Emerging Players and Market Lucrativeness
10.3.  Mergers, Acquisitions, Agreements, and Collaborations
10.4.  Vendor Competitiveness Matrix


11. Company Profiles
11.1. MGM Transformer Company
11.2. Acutran
11.3. Hitachi-ABB Group
11.4. Alfa Transformer
11.5. Wilsons Power Solutions
11.6. Synergy Transformers Pvt Ltd.
11.7. Kirloskar Electric Company
11.8. OTDS UK Ltd.
11.9. FT Transformer Ltd.
11.10. Kotsons Private Ltd.

MGM Transformer Company

Acutran

Hitachi-ABB Group

Alfa Transformer

Wilsons Power Solutions

Synergy Transformers Pvt Ltd.

Kirloskar Electric Company

OTDS UK Ltd.

FT Transformer Ltd.

Kotsons Private Ltd.

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