Dry-Type Transformer Global Market Report 2026

Dry-type transformers are a category of electrical transformers that rely on air for cooling, with their windings protected by solid insulation materials such as epoxy resin or varnish. This type of insulation provides strong resistance against moisture, dust, and other environmental factors. These transformers are engineered to enhance safety, minimize environmental impact, and ensure operational reliability, while also lowering the maintenance requirements typically associated with liquid-filled transformers.

The primary varieties of dry-type transformers include open-type transformers, closed-type transformers, cast resin transformers, and transformers with non-corrosive insulation. Open-type transformers have windings and cores exposed to air without a full enclosure. They come in various voltage ratings, including low, medium, and high voltage, and are available in both single-phase and three-phase designs. These transformers are commonly used in multiple settings, such as industrial facilities, urban substations, indoor and underground substations, and renewable energy installations, supporting diverse end-users across industrial, commercial, and utility sectors.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have moderately impacted the dry-type transformer market by increasing costs of imported electrical steel, copper windings, and insulation materials, leading to higher manufacturing expenses. These cost pressures have particularly affected industrial and utility applications, with Asia-Pacific and Europe experiencing notable supply chain disruptions due to cross-border component dependencies. Medium and high voltage transformer segments have seen pricing volatility as manufacturers adjust sourcing strategies. However, tariffs have also encouraged localization of manufacturing, boosting domestic production capabilities and strengthening regional supply resilience over the long term.

The dry-type transformer market research report is one of a series of new reports from The Business Research Company that provides dry-type transformer market statistics, including dry-type transformer industry global market size, regional shares, competitors with a dry-type transformer market share, detailed dry-type transformer market segments, market trends and opportunities, and any further data you may need to thrive in the dry-type transformer industry. This dry-type transformer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The dry-type transformer market size has grown strongly in recent years. It will grow from $7.1 billion in 2025 to $7.66 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to urban infrastructure expansion, increasing safety regulations for electrical equipment, growth of commercial buildings, replacement of oil-filled transformers, rising power distribution reliability requirements.

The dry-type transformer market size is expected to see strong growth in the next few years. It will grow to $10.26 billion in 2030 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to growth in renewable power integration, increasing electrification of public infrastructure, rising demand for compact substation solutions, expansion of smart grid networks, stricter fire safety and environmental standards. Major trends in the forecast period include increasing adoption of cast resin insulation technologies, rising preference for indoor and underground substation installations, growing demand for low maintenance and fire-safe transformers, expansion of medium voltage dry-type transformer installations, replacement of oil-filled transformers in urban environments.

The expansion of renewable energy infrastructure is anticipated to boost the growth of the dry-type transformer market in the coming years. Renewable energy infrastructure includes the systems and facilities used to generate and distribute electricity from sustainable sources such as solar, wind, and hydropower. This expansion is fueled by the increasing global demand for clean energy, aimed at reducing carbon emissions, addressing climate change, and meeting rising electricity requirements. Dry-type transformers play a key role in supporting renewable energy systems by enabling the safe and efficient integration of wind and solar power into the grid, offering low maintenance, minimal fire risk, and improved environmental sustainability. For example, according to the World Resources Institute, U.S. solar power installations reached 39.6 gigawatts (GW) in 2024, up from 27.4 GW in 2023, increasing the total capacity to around 220 GW and supplying over 7% of the nation's electricity. Consequently, the growth of renewable energy infrastructure is a significant driver of the dry-type transformer market.

Major companies in the dry-type transformer market are focusing on advanced products, such as compact dry-type pole-mounted transformers, to improve energy efficiency and ensure reliable power distribution in urban and industrial environments. Compact dry-type pole-mounted transformers are small, pole-installed units that use dry insulation instead of liquid coolants, providing safe and efficient electricity distribution. For example, in February 2023, Hitachi Energy Ltd., a Switzerland-based energy technology company, launched the next-generation TXpert Hub to digitalize transformers. This solution collects and analyzes data from digital sensors across various transformer types, enhancing connectivity and cybersecurity, simplifying retrofits, and delivering actionable insights to reduce costs, optimize operations, extend service life, and improve environmental performance, making transformer digitalization easier, more effective, and secure.

In April 2023, Eaton Corporation plc, an Ireland-based industrial manufacturing company, acquired Jiangsu Ryan Electrical Co. Ltd. for $100 million. Through this acquisition, Eaton aims to expand its presence in the Asia-Pacific region, enhance manufacturing capabilities in power distribution and sub-transmission transformers, and strengthen its portfolio to meet growing demand in renewable energy, data center, utility, and industrial markets. Jiangsu Ryan Electrical Co. Ltd. is a China-based manufacturer of dry-type transformers.

Major companies operating in the dry-type transformer market are Hitachi Energy Ltd., General Electric Company, Schneider Electric SE, Siemens Energy AG, ABB Ltd., Toshiba Corporation, Eaton Corporation plc, Delta Electronics Inc., Fuji Electric Co. Ltd., WEG S.A., Hubbell Incorporated, HyundAI Electric & Energy Systems Co. Ltd., CG Power and Industrial Solutions Limited, Kirloskar Electric Company Limited, Hammond Power Solutions Inc., JST Power Equipment Inc., Neeltran Inc., Hanley Energy Limited, Alfanar International Holding Company Limited, Jaybee Industries Private Limited

Asia-Pacific was the largest region in the dry-type transformer market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dry-type transformer market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the dry-type transformer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The dry-type transformer market consists of sales of harmonic mitigating dry-type transformers, autotransformers, isolation dry-type transformers, k-rated dry-type transformers, and control dry-type transformers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Dry-Type Transformer Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses dry-type transformer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for dry-type transformer ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The dry-type transformer market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Open-Type Transformers; Closed-Type Transformers; Cast Resin Transformers; Dry-Type Transformers With Non-Corrosive Insulation
• 2) By Voltage: Low Voltage; Medium Voltage; High Voltage
• 3) By Phase: Single-Phase; Three-Phase
• 4) By Application: Industries; Inner-City Substations; Indoor And Underground Substations; Renewable Generation; Other Applications
• 5) By End-Use: Industrial; Commercial; Utilities; Other End-Uses
• Subsegments:
• 1) By Open-Type Transformers: Ventilated Open Transformers; Non-Ventilated Open Transformers; Encapsulated Open Transformers
• 2) By Closed-Type Transformers: Sealed Tank Transformers; Hermetically Closed Transformers
• 3) By Cast Resin Transformers: Epoxy Resin Cast Transformers; Polyester Resin Cast Transformers; Hybrid Cast Resin Transformers
• 4) By Dry-Type Transformers With Non-Corrosive Insulation: Glass Fiber Insulated Transformers; Aramid Fiber Insulated Transformers; Nomex Paper Insulated Transformers
• Companies Mentioned: Hitachi Energy Ltd.; General Electric Company; Schneider Electric SE; Siemens Energy AG; ABB Ltd.; Toshiba Corporation; Eaton Corporation plc; Delta Electronics Inc.; Fuji Electric Co. Ltd.; WEG S.A.; Hubbell Incorporated; Hyundai Electric & Energy Systems Co. Ltd.; CG Power and Industrial Solutions Limited; Kirloskar Electric Company Limited; Hammond Power Solutions Inc.; JST Power Equipment Inc.; Neeltran Inc.; Hanley Energy Limited; Alfanar International Holding Company Limited; Jaybee Industries Private Limited
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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