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

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.

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.

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

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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. 

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