The global dry type transformer market is expected to grow at a CAGR of 7% during the forecast period. The market is anticipated to surpass USD 10.6 billion by 2031, from USD 5.6 billion in 2020.

A dry style transformer is a kind of magnetic core transformer intended on relatively new technologies that utilizes natural air cooling rather than oil. Dry style transformers, as opposed to liquid fill transformers, utilize only high temperature insulation devices and are environmentally friendly. It has no moving pieces, so it needs no maintenance while providing dependability and a long-life cycle. Since these transformers are totally risk-free, they can be safely used in clinics, classrooms, warehouses, chemical plants, and other buildings where fire protection is a top priority.

IMPACT OF COVID-19 ON THE GLOBAL DRY TYPE TRANSFORMER MARKET

The global supply chain has been disrupted as a result of the complete or partial lockout situation caused by COVID-19, resulting in delays in plant construction and a significant effect on the commissioning of renewable energy plants, biofuel facilities, and renewable heat investments. More than 40% of the global solar industry's supply chain is reliant on Chinese and other Southeast Asian countries. As the recognized cause of this pandemic, China is the most impacted in terms of material production and material transport as a result of COVID-19. This deliberation has a noteworthy effect on the demand for dry style transformers.

GLOBAL DRY TYPE TRANSFORMER MARKET INFOGRAPHICS

Source: ThinkWise Intelligence Analysis

GLOBAL DRY TYPE TRANSFORMER MARKET DYNAMICS

MARKET DRIVER: INCREASING USE OF DRY TYPE TRANSFORMER IN TRANSMISSION & DISTRIBUTION SECTOR

The increasing usage of dry style transformers in the transmission and distribution sectors around the world is projected to fuel sales growth in the target segment. Furthermore, the modernization of existing transformations, combined with rapid industrialization, is projected to promote sales growth in the target market over the forecast era. Furthermore, the demand for dry style transformers in various applications due to their environmental friendliness, fire resistance, corrosion resistance, and other properties is expected to help target market sales growth over the forecast period. Increasing R&D and increasing demand from developing markets are projected to generate attractive prospects for manufacturers, which would boost the target market's development over the forecast period. The growing transmission and distribution industry, as well as the need for renewable energy production, are among the main trends observed to drive the dry style transformer market.

MARKET RESTRAINT: HIGH MAINTENANCE, AND PRODUCT COST

The availability of substitutes such as oil-cooled transformers, as well as high maintenance and commodity costs, are among the major factors expected to restrain future demand growth over the forecast period. Furthermore, a lack of knowledge, combined with a lack of skillset in the application of dry type transformers, is expected to stifle the development of the dry type transformer industry.

MARKET OPPORTUNITY: LOW VOLTAGE AND POWER RATINGS

The low power and voltage ratings of these transformers, which are not ideal for more than 2000KVA, restrict their use. As a result, the development of the dry style transformer industry is stifled. Nonetheless, the thriving oil and gas and chemicals markets, all of which need a risk-free operating atmosphere, would provide enough prospects for this industry in the coming years. Dry style transformers are classified into two types: resin impregnated and cast resin. In the case of an accident, resin impregnated transformers have the benefit of not needing removal of the whole LV and HV winding of the electrical circuitry; just replacing the damaged portion of the winding suffices.

KEY TRENDS IN THE GLOBAL DRY TYPE TRANSFORMER MARKET

GLOBAL DRY TYPE TRANSFORMER MARKET TRENDS, BY TYPE

"During the forecast period, the Dry Type Transformer market for cast resin segment is expected to dominate the global market."

The cast resin segment produced the most revenue and is expected to maintain its lead over the forecast period as a result of its widespread adoption in areas such as general and public buildings, industrial plants, wind turbine plants, solar farms, LNG vessels; commercial spaces such as airports and railways; and special transformer applications such as furnace transformer, electric welding equipment, and UPS systems.

GLOBAL DRY TYPE TRANSFORMER MARKET TRENDS, BY END USE

"During the forecast period, the Dry Type Transformer market for industrial segment is expected to dominate the global market."

The world economy is motivated by its widespread use in energy delivery. The extension of the global electricity delivery network, as well as rapid industrialization in developed countries, drive the growth of the dry style transformer industry. Machineries with varying voltage requirements are used in industries ranging from large to tiny. Some businesses, such as oil and gas, mining, and marine, have specialized voltage standards due to the importance of fire protection in these industries. Countries also decided to raise the adoption of green energy production in overall electricity generated in an attempt to decrease reliance on coal-based electricity generation.

GLOBAL DRY TYPE TRANSFORMER MARKET TRENDS, BY REGION

" Asia Pacific holds the dominant share in the global market."

Asia Pacific holds the majority share in 2020. Product demand will be boosted by rising demand for refurbishment and restructuring of traditional grid systems, which is favored by power utility digitalization. Favorable regulatory changes aimed at ensuring grid reliability, as well as the accelerated deployment of smart control and monitoring systems, would boost market demand. Japan dry type transformer market is projected to grow at a highest CAGR during the forecast period. Increasing electricity demand followed by replacement of conventional electrical grid networks will complement the industry scenario. Growing infrastructural investments along with flourishing residential sector will stimulate the business landscape. Regulatory focus for the integration of smart grids coupled with positive consumer inclination toward sustainable electrical components will further boost the industry share.

COMPETITIVE LANDSCAPE IN THE GLOBAL DRY TYPE TRANSFORMER MARKET

The global Dry Type Transformer market is highly diverse and competitive, with many international players and a small number of regional and local players. Google, Eaton Corporation, WEG, GE, Schneider Electric, CG, Raychem, Siemens, Toshiba, ABB, Abaft, Bharat Heavy Electricals Limited are just a few of the market's major players.

RECENT ADVANCES IN THE GLOBAL DRY TYPE TRANSFORMER MARKET

• In October 2018 - ABB today launched the world’s first dry-type (oil free) digital transformer, named the ABB Ability TXpert Dry, and another innovative product called TXpand. It is a New range of products to facilitate digitalization of grids and offer enhanced safety, efficiency and reliability.

CHAPTER 1.    INTRODUCTION
1.1.    KEY OBJECTIVES OF THE STUDY
1.2.    MARKET SCOPE & DEFINITION
1.2.1.    MARKET SEGMENTATION
1.3.    REPORT DESCRIPTION
1.4.    LIMITATIONS
1.5.    STAKEHOLDERS FOR PRIMARY INTERVIEWS

CHAPTER 2.    RESEARCH METHODOLOGY
2.1.    DATA EXPLORATION
2.1.1.    PRIMARY DATA
2.1.1.1.    DATA SOURCES
2.1.1.2.    KEY DATA COLLECTED
2.1.2.    SECONDARY DATA
2.1.2.1.    DATA SOURCES
2.1.2.2.    KEY DATA COLLECTED
2.2.    MARKET SIZE ESTIMATION
2.2.1.    TOP-DOWN APPROACH
2.2.2.    BOTTOM-UP APPROACH
2.3.    DATA BREAKDOWN & TRIANGULATION
2.4.    ASSUMPTIONS & FORECAST PARAMETERS

CHAPTER 3.    EXECUTIVE SUMMARY

CHAPTER 4.    THINKWISE INTELLIGENCE EXCLUSIVE INSIGHTS
4.1.    MARKET ATTRACTIVENESS, BY TYPE
4.2.    MARKET ATTRACTIVENESS, BY TECHNOLOGY
4.3.    MARKET ATTRACTIVENESS, BY END-USE 
4.4.    MARKET ATTRACTIVENESS, BY REGION

CHAPTER 5.    MARKET OVERVIEW
5.1.    INTRODUCTION
5.2.    GROWTH IMPACT FORCES
5.2.1.    DRIVERS
5.2.2.    RESTRAINTS
5.2.3.    OPPORTUNITIES
5.2.4.    THREATS
5.3.    MARKET ECOSYSTEM & VALUE CHAIN
5.3.1.    ECOSYSTEM ANALYSIS
5.3.1.1.    IMPACT OF COVID-19 ON THE MARKET ECOSYSTEM
5.3.2.    VALUE CHAIN ANALYSIS
5.3.2.1.    IMPACT OF COVID-19 ON THE MARKET VALUE CHAIN
5.4.    INNOVATION & SUSTAINABILITY MATRICES
5.4.1.    PATENT MATRIX
5.4.2.    REGULATORY MATRIX
5.5.    PRICE MATRIX
5.5.1.    IMPACT OF COVID-19 ON PRICING
5.5.2.    PRICING ANALYSIS
5.5.2.1.    BY TYPE
5.5.2.2.    BY TECHNOLOGY
5.5.2.3.    BY END-USE 
5.5.2.4.    BY REGION
5.6.    PORTER’S FIVE FORCES ANALYSIS
5.6.1.    BARGAINING POWER OF SUPPLIERS
5.6.2.    BARGAINING POWER OF CONSUMERS
5.6.3.    THREAT OF SUBSTITUTES
5.6.4.    THREAT OF NEW-ENTRANTS
5.6.5.    COMPETITIVE RIVALRY INTENSITY
5.7.    PESTLE ANALYSIS
5.7.1.    POLITICAL
5.7.2.    ECONOMICAL
5.7.3.    SOCIAL
5.7.4.    TECHNOLOGICAL
5.7.5.    ENVIRONMENTAL
5.8.    IMPACT OF COVID-19 ON GLOBAL DRY TYPE TRANSFORMER MARKET
5.8.1.    PRE-COVID MARKET SCENARIO
5.8.2.    POST-COVID MARKET SCENARIO

CHAPTER 6.    GLOBAL DRY TYPE TRANSFORMER MARKET ANALYSIS, BY TYPE
6.1.    INTRODUCTION
6.1.1.    DRY TYPE CONVERTER TRANSFORMER
6.1.2.    DRY TYPE RECTIFIER TRANSFORMER

CHAPTER 7.    GLOBAL DRY TYPE TRANSFORMER MARKET ANALYSIS, BY TECHNOLOGY
7.1.    INTRODUCTION
7.1.1.    CAST RESIN 
7.1.2.    VACUUM PRESSURE IMPREGNATION

CHAPTER 8.    GLOBAL DRY TYPE TRANSFORMER MARKET ANALYSIS, BY END USE
8.1.    INTRODUCTION
8.1.1.    INDUSTRIAL
8.1.2.    COMMERCIAL
8.1.3.    OTHERS
 
CHAPTER 9.    GLOBAL DRY TYPE TRANSFORMER MARKET ANALYSIS, BY REGION
9.1.    INTRODUCTION
9.1.1.    NORTH AMERICA
9.1.1.1.    UNITED STATES (U.S.)
9.1.1.2.    CANADA
9.1.1.3.    MEXICO
9.1.2.    SOUTH AMERICA
9.1.2.1.    ARGENTINA
9.1.2.2.    BRAZIL
9.1.2.3.    COLOMBIA
9.1.2.4.    REST OF SOUTH AMERICA
9.1.3.    EUROPE
9.1.3.1.    GERMANY
9.1.3.2.    FRANCE
9.1.3.3.    UNITED KINGDOM (UK)
9.1.3.4.    RUSSIA
9.1.3.5.    SPAIN
9.1.3.6.    ITALY
9.1.3.7.    SWITZERLAND
9.1.3.8.    REST OF EUROPE
9.1.4.    ASIA-PACIFIC
9.1.4.1.    CHINA
9.1.4.2.    JAPAN
9.1.4.3.    INDIA
9.1.4.4.    SOUTH KOREA
9.1.4.5.    AUSTRALIA
9.1.4.6.    INDONESIA
9.1.4.7.    SINGAPORE
9.1.4.8.    MALAYSIA
9.1.4.9.    REST OF ASIA-PACIFIC
9.1.5.    MIDDLE EAST
9.1.5.1.    EGYPT
9.1.5.2.    KUWAIT
9.1.5.3.    SAUDI ARABIA
9.1.5.4.    UNITED ARAB EMIRATES (UAE)
9.1.5.5.    REST OF MIDDLE EAST
9.1.6.    AFRICA
9.1.6.1.    EGYPT
9.1.6.2.    NIGERIA
9.1.6.3.    SOUTH AFRICA
9.1.6.4.    REST OF AFRICA
 
CHAPTER 10.    COMPETITIVE LANDSCAPE
10.1.    TOP WINNING STRATEGIES
10.1.1.    BY STRATEGY
10.1.2.    BY REGION
10.1.3.    BY YEAR
10.2.    COMPETITIVE HEATMAP
10.3.    PRODUCT BENCHMARKING
10.4.    STRATEGIC BENCHMARKING
10.4.1.    MERGERS & ACQUISITIONS
10.4.2.    STRATEGIC PARTNERSHIPS & COLLABORATIONS

CHAPTER 11.    PLAYER BENCHMARKING
11.1.    BHARAT HEAVY ELECTRICALS LTD.
11.1.1.    BUSINESS OVERVIEW
11.1.2.    PRODUCT OFFERINGS
11.1.3.    FINANCIAL OVERVIEW
11.1.4.    STRATEGIC BENCHMARKING
11.1.5.    SWOT ANALYSIS
11.2.    EATON CORPORATION PLC
11.2.1.    BUSINESS OVERVIEW
11.2.2.    PRODUCT OFFERINGS
11.2.3.    FINANCIAL OVERVIEW
11.2.4.    STRATEGIC BENCHMARKING
11.2.5.    SWOT ANALYSIS
11.3.    GENERAL ELECTRIC COMPANY
11.3.1.    BUSINESS OVERVIEW
11.3.2.    PRODUCT OFFERINGS
11.3.3.    FINANCIAL OVERVIEW
11.3.4.    STRATEGIC BENCHMARKING
11.3.5.    SWOT ANALYSIS
11.4.    HITACHI LTD.
11.4.1.    BUSINESS OVERVIEW
11.4.2.    PRODUCT OFFERINGS
11.4.3.    FINANCIAL OVERVIEW
11.4.4.    STRATEGIC BENCHMARKING
11.4.5.    SWOT ANALYSIS
11.5.    FUJI ELECTRIC CO. LTD.
11.5.1.    BUSINESS OVERVIEW
11.5.2.    PRODUCT OFFERINGS
11.5.3.    FINANCIAL OVERVIEW
11.5.4.    STRATEGIC BENCHMARKING
11.5.5.    SWOT ANALYSIS
11.6.    HAMMOND POWER SOLUTIONS INC.
11.6.1.    BUSINESS OVERVIEW
11.6.2.    PRODUCT OFFERINGS
11.6.3.    FINANCIAL OVERVIEW
11.6.4.    STRATEGIC BENCHMARKING
11.6.5.    SWOT ANALYSIS
11.7.    HYOSUNG HEAVY INDUSTRIES
11.7.1.    BUSINESS OVERVIEW
11.7.2.    PRODUCT OFFERINGS
11.7.3.    FINANCIAL OVERVIEW
11.7.4.    STRATEGIC BENCHMARKING
11.7.5.    SWOT ANALYSIS
11.8.    HANLEY ENERGY GCC
11.8.1.    BUSINESS OVERVIEW
11.8.2.    PRODUCT OFFERINGS
11.8.3.    FINANCIAL OVERVIEW
11.8.4.    STRATEGIC BENCHMARKING
11.8.5.    SWOT ANALYSIS
11.9.    POWER SP. Z O.O.
11.9.1.    BUSINESS OVERVIEW
11.9.2.    PRODUCT OFFERINGS
11.9.3.    FINANCIAL OVERVIEW
11.9.4.    STRATEGIC BENCHMARKING
11.9.5.    SWOT ANALYSIS
11.10.    SCHNEIDER ELECTRIC SE
11.10.1.    BUSINESS OVERVIEW
11.10.2.    PRODUCT OFFERINGS
11.10.3.    FINANCIAL OVERVIEW
11.10.4.    STRATEGIC BENCHMARKING
11.10.5.    SWOT ANALYSIS

CHAPTER 12.    APPENDIX
12.1.    PREMIUM INSIGHTS FROM INDUSTRY EXPERTS
12.2.    RELATED REPORTS