Product Code: 46633
The dry-type transformer market is expected to grow at a CAGR of approximately 6% during the forecast period. Global electricity demand has doubled within last two decades and is expected to grow at twice the pace of energy demand as a whole, in the next 25 years. Adding to this, factors such as increasing demand for electricity, and integration of renewable-based power generation are expected to drive the market during the forecast period. However, the advantages that oil-cooled transformer offers over dry-type transformer is expected to slightly restrain the growth of the market.
- Increasing investments in the transmission and distribution (T&D) network globally has provided tremendous opportunity for the dry-type distribution type transformer. Dry type distribution transformer market was dominant in 2018 owing to the benefit of being moisture proof and thereby making it suitable for use in- and near building applications. Moreover, the increased efficiency that it offers over a low voltage has led to an increase in number of installations.
- Increasing rate of electrification in African countries provides opportunity for the market to grow during the forecast period.
- Asia-Pacific was the dominant region for the market in 2018, owing to the growing population and industrialization causing a rise in the electricity demand.
Key Market Trends
Increasing Demand for the Distribution Transformer
- The dry-type transformer technology does not cause any environmental degradation, is moisture-proof, and possess better impulse and short circuit strength and thereby providing a vast array of application ranging from residential building to small commercial complexes.
- Distribution transformers are designed to offer maximum efficiency at lower loads. Moreover, the voltage regulation in these transformers are kept minimum, in order to improve efficiency. As a result, distribution transformers are designed to have small leakage reactance.
- Countries in the Middle East & African region, such as Oman and Saudi Arabia, are also investing in the expansion and restructuring of distribution power grids, which increases the growth prospects of the dry-type transformer market segment.
Asia-Pacific Region Dominated the Market
- Asia-Pacific region dominated the Dry-Type Transformer Market and is expected to register a CAGR of 6.49% during the forecast period owing to the growing industrialization and urbanization.
- National Energy Administration (NEA) of China is promoting the concept of green certificates, along with aggressive renewable energy portfolio (REP). This is expected to boost the wind power market in China. With increasing renewable energy integration, particularly from wind and solar PV, the demand for dry-type transformers is expected to remain high in the country.
- India's power sector is dominated by coal-based power generation, accounting for almost 54.7% of the total installed capacity in December 2018. The country has identified the potential of renewable energy for de-carbonizing the economy and meeting targets as per the Paris Agreement. The country's renewable energy accounted for 21.2% of the total installed capacity by the end of 2018. With increasing s hare of renewable energy, demand for upgrading the existing T&D infrastructure is expected to increase.
- With countries like Philippines, South Korea, and Australia targeting the renewable integration to meet their energy demand the need for Dry-Type Transformer in Asia-Pacific region is expected to register a robust growth in demand during the period of study under consideration.
The global dry type transformer market is fragmented with several large international brands, as well as domestic players, have been dominating the market. Besides this, other medium and small players have been competing fiercely on the basis of price and quality, which intensifies the competition in the industry. Some of the key companies in market under consideration are Siemens AG, Schneider Electric SE, TBEA, Hammond Power Solutions, and Crompton Greaves Limited.
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Table of Contents
- 1.1 Scope of the report
- 1.2 Market Definition
- 1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Market Dynamics
- 4.4.1 Drivers
- 4.4.2 Restraints
- 4.5 Supply Chain Analysis
- 4.6 Porter's Five Force Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Consumers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitute Products and Services
- 4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Voltage
- 5.1.1 Low Voltage
- 5.1.2 Medium Voltage
- 5.2 Type
- 5.2.1 Power Transformer
- 5.2.2 Distribution Transformer
- 5.3 End-Phase
- 5.3.1 Single Phase
- 5.3.2 Three Phase
- 5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.2 North America
- 5.4.3 Europe
- 5.4.4 South America
- 5.4.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Siemens AG
- 6.3.2 Schneider Electric SE
- 6.3.3 TBEA
- 6.3.4 Hyundai Heavy Industries Co. Ltd
- 6.3.5 Hammond Power Solutions
- 6.3.6 Crompton Greaves Limited
- 6.3.7 ABB Ltd.
- 6.3.8 Eaton Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS