With the emergence and long-term Impact of COVID-19, Global Dry Type Transformer Market to reach USD xx billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Dry Type Transformer Market points towards a potential rise to USD xx billion by 2030. Dry type transformer is a type of a transformer that does not use oil or other liquids to insulate its coils. Instead, it uses air or another gas, such as nitrogen, as an insulation medium. This makes dry-type transformers much safer than oil-filled transformers, as they are less likely to catch fire or explode. Dry-type transformers are also more environment friendly, as they do not release any harmful emissions.
The key factors driving the market growth are rising global demand for electricity for different end uses, growing adoption of renewable and non-conventional energy sources and increase in investment for upgradation of aging power distribution and transmission infrastructure that anticipated to support the market growth.
Geographically, the global Dry Type Transformer market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the growing innovations and development of clean technologies, rising renewable energy transition and infrastructure development, and growing industrialization and need to reduce emissions. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising urbanization and industrialization, growing manufacturing sector, and increasing transition toward renewable energy.
The global Dry Type Transformer market is highly competitive owing to the presence of several key players such as Schneider Electric (France) Siemens Energy (Germany) Hitachi Ltd. (Japan) Toshiba Corporation (Japan) General Electric (US) Fuji Electric Co., Ltd. (Japan) CG Power & Industrial Solutions Ltd. (India) Kirloskar Electric Company (India) Hyosung Heavy Industries (South Korea) Hammond Power Solutions (US), and others.
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Key findings of the study suggest:
- Global Dry Type Transformer Market is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030.
- In the Phase segment, Single Phase emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to growing innovations and development of clean technologies in the region.
- Asia Pacific is expected to grow at higher rate owing to rising urbanization and industrialization in the region
Bizwit Research & Consulting has considered following segments for the study:
By Technology:
- Cast Resin
- Vaccum Pressure Impregnated
By Voltage:
- Low Voltage
- Medium Voltage
- High Voltage
By Application:
- Industrial
- Commercial
- Utilities
- Others
By Phase:
- Single Phase
- Three Phase
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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