Dry Type Transformer Market to Hit $7 Billion by 2026, Says Global Market Insights, Inc.
Dry Type Transformer Industry is poised to register over an 8% CAGR between 2020 and 2026, impelled by ongoing government policies toward upgradation of T&D networks.
SELBYVILLE, Del., August 18, 2020 (Newswire.com) - Global dry type transformer market revenue is set to cross USD 7 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Favorable government policies toward the upgradation of power networks, along with the integration of smart grid infrastructure, will fuel the industry scenario. Expansion of the commercial sector, along with rapid urbanization across the emerging economies, will positively influence the business landscape. Surging adoption of clean energy technologies, coupled with increasing electrification programs, will augment the industry outlook.
The Class B dry type transformer industry is anticipated to register over an 11% CAGR through 2026. Growing focus toward refurbishment and upgradation of existing grid infrastructure will boost the product adoption. The introduction of microgrid technology, along with positive consumer shift toward sustainable electrical components, will further complement the industry trends.
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Ongoing development of commercial establishments, including educational institutions, hotels, hospitals and malls, will boost the outdoor dry type transformer demand. Increasing construction activities in line with favorable policies to advance power infrastructure will foster the market share. Increasing security concerns, followed by stringent government norms toward safe and reliable electricity supply, will boost the product demand.
Ongoing COVID-19 pandemic impact across the industry will affect the project commission dates and ongoing construction of transmission networks. In addition, even after continuing operations, many regions are facing challenges of restarting their production capacity, and manufacturers are undergoing the effect of shortages in their supply networks. However, robust growth across the healthcare sector and growing electricity demand are anticipated to enhance the product installation.
Some key findings of the dry type transformer market report include:
- The global market is growing rapidly, owing to its applicability across commercial, industrial and renewable sectors.
- Increasing investments across infrastructural development and construction activities are set to drive business development.
- Key players operating across the global market are ABB, General Electric, Schneider Electric, Eaton, Siemens etc.
- Air-blast dry-type transformers are experiencing a significant increase in installation on account of strict government directives to adopt smart transformer units.
Browse key industry insights spread across 1,000 pages with 2,045 market data tables & 43 figures & charts from the report, "Dry type Transformer Market Analysis By Product (Open Wound, Cast Resin, Vacuum Pressure Impregnated, Vacuum Pressure Encapsulated), Phase (Single, Three), Installation (Outdoor, Indoor), Winding (Two-winding, Auto-transformer), Rating (< 5 MVA, 5 MVA to 30 MVA, > 30 MVA), Mounting (Pad, Pole, PC/PCB), Application (Industries, Inner-city Substations, Indoor/Underground Substations, Renewable Generation), Core (Closed, Shell, Berry), Technology (Self-air, Air-blast), Insulation (Class R, Class H, Class F, Class B, Class A), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 - 2026" in detail, along with the table of contents:
https://www.gminsights.com/industry-analysis/dry-type-transformer-market
Pole mounted dry type transformer market is estimated to grow on account of modernization of existing industries coupled with development of manufacturing units. Increasing expansion of railway and road networks to institute a sustainable supply chain mechanism will facilitate the technology adoption. Ongoing large-scale applicability across the industries and utility establishments subject to the increasing demand for short-distance transformers will further propel the business scenario.
The growing focus toward the replacement of the conventional power equipment with advanced high-quality systems will complement the vacuum pressure impregnated dry type transformer industry. The exponential rise in energy consumption across the emerging economies in line with accruing power security concerns will complement the industry scenario. Favorable tendencies toward the expansion of micro-grid networks and utility-based renewable infrastructure will further drive the business landscape.
The Middle East & Africa dry type transformer market is estimated to grow at a rate of over 6.5% through 2026. Increasing the electrification rate and grid stability has driven new investments in transmission and distribution infrastructure which in turn will strengthen the industry outlook. The growing tourism sector has significantly enhanced the energy demand across the UAE, which in turn will influence the industry growth.
Access the Toc of this report @ https://www.gminsights.com/toc/detail/dry-type-transformer-market
Browse Related Report:
Transformer Market By Insulation (Gas, Oil, Solid, Air), Phase (Three, Single), Rating (≤ 10 MVA, 11 To 60 MVA, 61 To 600 MVA, > 600 MVA), Mounting (Pad, Pole, PC/PCB), Application (Residential & Commercial {Hotels, Hospitals, Apartments}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Core (Closed, Shell, Berry), Product (Distribution Transformer, Power Transformer, Instrument Transformer {Current, Potential}), Winding (Two Winding, Auto-Transformer), Installation (Outdoor, Indoor), Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self Cooled, Water Cooled, Forced Oil}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
https://www.gminsights.com/industry-analysis/transformer-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.
