Dry Type Transformer Market is expected to grow substantially through 2032 owing to increasing investments undertaken by emerging economies to expand the electrification network. Besides, the benefits of dry-type transformers, such as their safety, well-suited for contaminated and damp areas, exceptional resistance to short-circuiting electricity, ease of installation, low maintenance, pollution-free nature, lack of fire hazards, very low side clearance, and long-lasting durability are estimated to propel their adoption in the coming future.
Overall, the dry-type transformer industry is segmented in terms of core, technology, insulation, product, winding, rating, mounting, application, and region.
Based on core, the closed core transformers are anticipated to grow at over 8.5% CAGR between 2023-2032. The growth will be majorly due to its effective applicability across self-sustaining grid networks.
By technology, the air-blast technology will witness prolific demand through 2032. The segmental expansion can be credited to the cost-competitive product manufacturing and effective operational feasibility.
Considering the insulation, the class H segment is anticipated to depict strong growth during 2032. The temperature-withstanding capacity and the effective dielectric strength will encourage product demand across the electrical infrastructure.
By winding, the two-winding transformer segment was valued at over USD 7 billion in 2022. The increasing deployment of smart monitoring technologies has substantially enhanced the cost-effectiveness and reliability of the product, which is slated to stimulate industry growth.
Based on mounting, the pad mounting transformers are gaining massive traction over the years. Pad-mounted transformers reduce high voltage to the standard household voltage used to power electronics, appliances, and lighting. Some of the benefits associated with pad mounted transformers such as the ability to be installed in unsecured areas, tamper-proof and self-contained, saving cost and space, and easy maintenance would accelerate its deployment across vivid regions.
By end-use, the industry segment will showcase profitable growth trajectory through 2032. Increasing emphasis on deploying wide-ranging frequency distribution links coupled with increasing concerns for energy efficiency will bolster the demand for dry-type transformers across industrial applications.
Regionally, the North America dry-type transformer market will demonstrate sturdy growth through 2032. Countries such as U.S., Canada, and Mexico are witnessing strong demand for the product owing to constantly increasing investments made for developing long-distance electricity networks. To illustrate, the US Department of Energy declared an investment of USD 13 billion to support the expansion and upgradation of the electric grid across the United States.