Dry-Type Transformer Market by Type, Phase, Voltage, Installation, Application

List of Tables

[192 Pages Report] The Dry-Type Transformer Market size was estimated at USD 5.80 billion in 2023 and expected to reach USD 6.14 billion in 2024, at a CAGR 5.98% to reach USD 8.71 billion by 2030.

Dry-type transformers are electrical transformers that employ solid dielectric materials for insulation purposes, as opposed to liquid insulating mediums found in oil-filled transformers. These transformers are designed for safe and efficient operation in various application areas, including commercial buildings, industrial facilities, and outdoor environments. Rapid urbanization and increasing demand for electricity worldwide have increased the need for efficient and reliable power supply systems. Additionally, there is an increasing demand for dry-type transformers from the oil & gas and chemical industries, which require safe and efficient electrical equipment in their operations. However, the high cost of production may adversely impact the deployment of dry-type transformers across the end-use sectors. Rising investments in energy transmission and distribution networks are expected to increase the demand for dry-type transformers worldwide to provide safety, efficiency, and reliability.

KEY MARKET STATISTICS
Base Year [2023]	USD 5.80 billion
Estimated Year [2024]	USD 6.14 billion
Forecast Year [2030]	USD 8.71 billion
CAGR (%)	5.98%

Type: Significant penetration of vacuum pressure-impregnated dry-type transformers in industrial sector

Cast coil resin dry-type transformers are characterized by their high dielectric strength and low partial discharge, as the windings are encapsulated within an epoxy resin, which increases protection against harsh environmental conditions such as humidity, dust, and corrosive atmospheres. Vacuum pressure encapsulated transformers feature vacuum impregnation of windings with a thermosetting epoxy resin followed by curing under heat and pressure. VPE transformers offer excellent thermal performance due to their encapsulation process, ensuring uniformity and completeness of resin penetration into the winding insulation system. This type of transformer is usually preferred in environments with heavy contamination or high moisture levels, such as marine vessels, water treatment plants, and chemical processing facilities. Vacuum pressure-impregnated dry-type transformers employ a process where the windings are immersed in insulating varnish and then subjected to a vacuum, allowing the varnish to impregnate the winding insulation system thoroughly. This process enhances the transformer's thermal, mechanical, and electrical capabilities. VPI transformers are often used in industrial applications such as petrochemical plants, mining facilities, and data centers due to their superior performance under high electrical load conditions. Cast coil resin transformers provide excellent protection against harsh environments and exhibit better fire resistance than other types. VPE transformers offer superior thermal performance due to their complete encapsulation process and are suitable for contaminated or moisture-prone environments. VPI transformers are known for their exceptional performance even under heavy electrical loads, making them the preferred choice in industrial settings.

Phase: Expanding use of three-phase transformers in utility sector

Single-phase dry-type transformers have primary and secondary windings that distribute electrical energy in residential areas, small commercial setups, and light industrial applications. They are known for their simplicity, compactness, and relatively lower costs than their three-phase counterparts. Three-phase dry-type transformers consist of three sets of primary and secondary windings connected in various configurations, such as delta or wye, to manage power distribution for medium to large commercial establishments, heavy industries, data centers, hospitals, universities, and utility companies. With increased capacity to handle higher loads while maintaining efficiency and providing a balanced power supply across multiple phases, these units have become essential for large-scale power consumption. Single-phase dry-type transformers are used in residential areas and light commercial applications due to their simplicity, compactness, and affordability. In contrast, three-phase transformers offer more load capacity while maintaining efficiency across large-scale installations such as heavy industries or utility companies.

Voltage: Proliferating use of low voltage (LV) dry-type transformers in residential infrastructures

Low voltage (LV) dry-type transformers are specifically engineered for applications where the primary voltage falls within the range of 208V to 600V, and the secondary voltage remains under 480V. These transformers are often used in industrial, commercial, and residential settings due to their reduced noise levels, lower maintenance requirements, and increased safety compared to oil-filled transformers. Customers prefer low-voltage dry-type transformers for lighting systems, motor control centers, HVAC equipment, and other low-voltage loads. Medium voltage (MV) dry-type transformers operate at higher primary voltages ranging between 601V and 35kV, with the secondary voltage usually below 15kV. They are used in larger industrial facilities and utility-scale renewable energy projects, which require reliable power transformation while maintaining operational safety. MV dry-type transformers are chosen by more extensive industrial facilities or utility-scale projects seeking higher power output and improved operational safety standards. In contrast, due to their compact design and reduced noise levels, LV dry-type transformers are preferred for smaller-scale commercial or residential installations.

Installation: Increasing utilization of outdoor dry-type transformers owing to resistance to extreme weather conditions

Indoor dry-type transformers are commonly used in commercial, industrial, and residential settings due to their safety features and compact design. These transformers are designed for indoor use as they do not require a separate cooling system or additional protective measures against external factors such as moisture and dust. The need-based preference for indoor dry-type transformers is mainly driven by the limited space available in urban areas and strict safety regulations that require electrical equipment to operate reliably without posing any fire hazards. Outdoor dry-type transformers are designed for installation in open spaces with additional weather-resistant enclosures made from corrosion-resistant aluminum or stainless steel. Outdoor dry-type transformers can withstand harsh conditions, including extreme temperatures and humidity, while maintaining reliable performance. Indoor dry-type transformers are preferred in urban areas where space is limited and strict safety regulations are in place. In contrast, outdoor dry-type transformers are used in industries that require electrical equipment to be resilient against harsh environments.

Application: Rapidly increasing commercial infrastructure developments to propel use of dry-type transformers

Dry-type transformers are commonly used in commercial environments such as offices, shopping centers, and other public spaces due to their safety and low-maintenance properties. These transformers provide a stable electricity supply while ensuring minimal risk of fire hazards and insulating against moisture and dust. Industrial applications for dry-type transformers across various sectors include manufacturing, mining, petrochemicals, and renewable energy generation facilities, including solar farms and wind turbines. The demand for these transformers is driven by their robust design that can withstand harsh environmental conditions and heavy electrical loads without compromising safety or performance. In residential settings, dry-type transformers are crucial in safely distributing electricity to households and ensuring stable voltage levels. These transformers are often compact, lightweight, and designed for low-noise operation, making them well-suited for residential areas with strict noise restrictions. Dry-type transformers have become increasingly popular across commercial, industrial, and residential sectors due to their inherent advantages over liquid-filled counterparts. While commercial applications prioritize energy efficiency and low-maintenance requirements, industrial settings demand reliable performance under harsh environments with heavy electrical loads. Residential users focus on compact design and low-noise operation along with safety aspects.

Regional Insights

Stringent regulations regarding energy efficiency and the development of smart grids are driving the adoption of dry-type transformers in the Americas. Additionally, increasing focus on improving the power infrastructure is resulting in increased demand for dry-type transformers in the Americas. Rise in industrialization and urbanization coupled with increasing investments toward renewable energy projects, such as solar parks and wind farms have further propelled the demand for dry-type transformers in the APAC region. In the EMEA region, environmental concerns regarding greenhouse gas emissions have led to an elevated focus on clean energy projects and boosted the adoption of dry-type transformers in the region. Additionally, advancements and improvements in dry-type transformers can enhance their efficiency and safety and are anticipated to increase the adoption of dry-type transformers by the end-use sectors across the globe.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Dry-Type Transformer Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Dry-Type Transformer Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Dry-Type Transformer Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Alfanar Group, Bharat Heavy Electricals Limited, Brilltech Engineers Pvt. Ltd., CG Power & Industrial Solutions Ltd., Eaton Corporation PLC, EBG SRL, Elettromeccanica India Pvt. Ltd., ELSCO, F.D.U.E.G. Srl, Fuji Electric Co., Ltd., GBE S.p.A, General Electric Company, Hammond Power Solutions Inc., HD Hyundai Electric Co., Ltd., Hitachi, Ltd., Hubbell Incorporated, IMEFY S.p.A, Jefferson Electric Inc, Kirloskar Electric Company Ltd., Krempel GmbH, Maddox Industrial Transformer LLC, MGM Transformer Company, Micron Industries Corp., Olsun Electrics Corporation, Professional TAILI Electric Co.,Ltd., R&S International Holding AG, Raychem RPG Private Limited, Schneider Electric SE, SGB-SMIT GmbH, Siemens AG, Spang & Co., Sunbelt Solomon, TBEA Co., Ltd., TMC Transformers S.p.A., Toshiba Corporation, TRAFO ELETTRO S.R.L., Trafo Power Solutions Pty Ltd, Transfos MARY, Virginia Transformer Corp., Voltamp Transformers Ltd., WEG S.A., Wilson Power And Distribution Technologies Pvt. Ltd., and YueBian Electric Co.,Ltd..

Market Segmentation & Coverage

This research report categorizes the Dry-Type Transformer Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Cast Coil Resin
- Vacuum Pressure Encapsulated
- Vacuum Pressure Impregnated

Phase
- Single-Phase
- Three-Phase

Voltage
- Low Voltage
- Medium Voltage

Installation
- Indoor
- Outdoor

Application
- Commercial
- Industrial
- Residential

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Dry-Type Transformer Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Dry-Type Transformer Market?

3. What are the technology trends and regulatory frameworks in the Dry-Type Transformer Market?

4. What is the market share of the leading vendors in the Dry-Type Transformer Market?

5. Which modes and strategic moves are suitable for entering the Dry-Type Transformer Market?

Product Code: MRR-4379560F56C4

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing demand from oil & gas and chemical industries
  - 5.1.1.2. Rapid urbanization and widening urban transportation infrastructures worldwide
  - 5.1.1.3. Rise in renewable energy generation worldwide
- 5.1.2. Restraints
  - 5.1.2.1. High cost of production of dry-type transformers
- 5.1.3. Opportunities
  - 5.1.3.1. Advancement and new developments in dry-type transformers
  - 5.1.3.2. Increasing investments in energy transmission and distribution networks
- 5.1.4. Challenges
  - 5.1.4.1. Technical and operational issues in dry-type transformers
5.2. Market Segmentation Analysis
- 5.2.1. Type: Significant penetration of vacuum pressure-impregnated dry-type transformers in industrial sector
- 5.2.2. Phase: Expanding use of three-phase transformers in utility sector
- 5.2.3. Voltage: Proliferating use of low voltage (LV) dry-type transformers in residential infrastructures
- 5.2.4. Installation: Increasing utilization of outdoor dry-type transformers owing to resistance to extreme weather conditions
- 5.2.5. Application: Rapidly increasing commercial infrastructure developments to propel use of dry-type transformers
5.3. Market Trend Analysis
- 5.3.1. Presence of well-established energy conservation standards for dry-type transformers in the Americas
- 5.3.2. Adoption of dry-type transformers in expanding transportation and industrial sectors of Asia-Pacific region
- 5.3.3. Investment in smart grid infrastructure and new development in dry-type transformers in EMEA
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis

6. Dry-Type Transformer Market, by Type

6.1. Introduction
6.2. Cast Coil Resin
6.3. Vacuum Pressure Encapsulated
6.4. Vacuum Pressure Impregnated

7. Dry-Type Transformer Market, by Phase

7.1. Introduction
7.2. Single-Phase
7.3. Three-Phase

8. Dry-Type Transformer Market, by Voltage

8.1. Introduction
8.2. Low Voltage
8.3. Medium Voltage

9. Dry-Type Transformer Market, by Installation

9.1. Introduction
9.2. Indoor
9.3. Outdoor

10. Dry-Type Transformer Market, by Application

10.1. Introduction
10.2. Commercial
10.3. Industrial
10.4. Residential

11. Americas Dry-Type Transformer Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Dry-Type Transformer Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Dry-Type Transformer Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Aramco Awards USD 41 Million Contract to Saudi Power Transformers
- 14.3.2. ARALDITE Insulation Epoxy Successfully Applied in the World's Largest Dry-Type Power Transformer
- 14.3.3. Eaton Acquires 49% Stake in Jiangsu Ryan Electrical Co. Ltd.
- 14.3.4. Virginia Transformer Earns Major Data Center Contract
- 14.3.5. Hitachi Energy Launches the Next-Generation TXpert Solution to Digitize Every Transformer
- 14.3.6. Virginia Transformer Inaugurates New Plant: The Most Sophisticated In North America
- 14.3.7. CG Power to Expand Transformer Production, Posts PAT of INR 126 crore for Quarter 3
- 14.3.8. WEG Announces Expansion Investments in the Transformer Factory of Itajuba, Brazil
- 14.3.9. Hitachi Energy Invests USD 37 Million to Expand Transformer Manufacturing Facility in South Boston, Virginia
- 14.3.10. Hitachi Energy Launches Innovative Oil-Free and Plug-And-Play Traction Transformer
- 14.3.11. Sunbelt Solomon and CORE Transformers Have Formalized a Strategic Partnership
- 14.3.12. Siemens Energy Presents Innovative Pole-Mounted Dry-Type Transformer for American Market

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio