Growing Use of Renewable Energy Sources Has Propelled the Growth of the Dry-Type Transformer Market in the APAC Region!
- Himanshu Patni
- August 12, 2023
- ENERGY & POWER, NEWS
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In the last few years, the APAC region has seen rapid growth in the demand for dry-type transformer which is mainly due to the high demand for electricity, the growing use of renewable energy sources, and the increasing demand for energy-efficient and high-quality power transmission equipment. Also, the region continues to grow and develop, and the demand for dry-type transformers is expected to increase in the forecasted period.
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Additionally, the region has experienced rapid economic growth and industrialization in recent years, which has led to an increased demand for electricity. This has resulted in an increased demand for power transmission and distribution equipment such as transformers. Furthermore, the region has many rural areas that are not connected to the grid, and dry-type transformers are well-suited for use in off-grid applications, such as in remote areas or for backup power systems. The increasing use of renewable energy sources such as wind and solar power. Dry-type transformers are well-suited for use in these applications, as they can handle the high voltage and current levels required for renewable energy systems. Furthermore, the use of dry-type transformers in renewable energy systems can help to reduce the environmental impact of these systems, as they do not require the use of oil, which can be harmful to the environment.
Further, the APAC Dry-Type Transformer Market is expected to grow at a significant CAGR of 6% during the forecast period (2022-2030). APAC is anticipated to hold a substantial CAGR in 2021. This is mainly due to the increasing demand for energy-efficient and high-quality power transmission equipment. Dry-type transformers offer several advantages over traditional oil-filled transformers, such as higher efficiency, lower environmental impact, and longer lifespan. As a result, they are becoming increasingly popular among electric utilities, industrial and commercial users, and other organizations in the region. In addition, several countries with rapidly growing economies and increasing electricity demand, such as China, India, and Indonesia. These countries are investing heavily in infrastructure development and are upgrading their power transmission and distribution systems to meet the increasing demand for electricity. Due to such factors, the rising demand for dry-type transformers is increasing in the region.
- FIG. 1 APAC Dry-Type Transformer Market Revenue (2020-2030)- USD Mn
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On the basis of phase, the market is categorized into single-phase and three-phase. Among these, the three-phase is expected to grow with a significant CAGR during the forecast period. This is mainly due to factors such as higher efficiency, lower environmental impact, and longer lifespan. Moreover, the increasing use of renewable energy sources such as wind and solar power requires transformers to step up or step-down voltage levels, which is also contributing to the growth of the three-phase dry-type transformer market.
Based on voltage, the dry-type transformer market has been classified into low and medium. The low category is expected to grow with a significant CAGR during the forecast period. This is mainly due to the advantages of the dry-type transformers as they are well-suited for use in a wide range of applications, including residential, commercial, and industrial applications. Additionally, as the global population continues to grow and more people move into urban areas, the demand for electricity in residential and commercial buildings is also increasing, driving the demand for low-voltage dry-type transformers further contributing to the growth of the low-voltage dry-type transformer market.
Global Dry-Type Transformer Market Segmentation
Market Insight, by Technology
Cast Resin
- Vacuum Pressure Impregnated
Market Insights, by Phase
- Single-Phase
- Three-Phase
Market Insights, by Voltage
- Low
- Medium
Market Insights, by Installation
- Indoor
- Outdoor
Market Insights, by Rating
- Less than 5 MVA
- 5 MVA to 30 MVA
- More than 30 MVA
Market Insights, by End-User
- Industrial
- Commercial
- Others
Market Insight, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- APAC
- China
- India
- Japan
- Australia
- Rest of APAC
- Rest of the World
Top Company Profiles
- Bharat Heavy Electricals Limited
- Eaton
- Fuji Electric Co., Ltd.
- Hitachi Energy Ltd
- Siemens
- Hammond Power Solutions
- General Electric Company
- Schneider Electric
- Kirloskar Electric Company
- Hanley Energy
