Asia Pacific Dry Type Transformer Market - By Core (Closed, Shell, Berry), By Technology, By Insulation, By Product, By Winding, By Mounting, By Application & Forecast, 2024 – 2032

Asia Pacific Dry Type Transformer Market Size

Asia Pacific Dry Type Transformer Market size exhibited a valuation of approximately USD 5.8 billion in 2023 and is anticipated to grow at a CAGR of 8.2% between 2024 and 2032.
 

Asia Pacific dry-type transformer industry is experiencing robust growth driven by several key factors. Firstly, the region's increasing investments in infrastructure development, urbanization, and industrialization are escalating the demand for electrical distribution solutions, and dry-type transformers offer a safe and efficient alternative, especially in densely populated areas and indoor installations. Secondly, the growing emphasis on energy efficiency and sustainability is propelling the adoption of dry-type transformers, which are eco-friendly and do not require flammable insulating oil, aligning with stringent environmental regulations. Additionally, the integration of renewable energy sources into the power grid and the need for grid resilience are driving the demand for flexible and reliable dry-type transformers. Moreover, advancements in technology, such as the development of compact and low-noise transformers, are making them increasingly attractive for various applications.
 

COVID-19 Impact

The COVID-19 pandemic had several notable impacts on the Asia Pacific dry type transformer market. Firstly, disruptions in global supply chains, particularly those originating from China, impacted the availability of critical components and materials required for transformer manufacturing. This led to production delays and supply chain challenges for manufacturers in the region. Secondly, lockdowns, social distancing measures, and labor shortages disrupted manufacturing operations, slowing down the production of dry-type transformers.
 

On the demand side, the economic uncertainties brought about by the pandemic caused delays or cancellations of infrastructure projects and industrial expansions, affecting the demand for new transformers. However, the pandemic also highlighted the importance of reliable power distribution, which accelerated investments in grid modernization and the replacement of aging transformers in some areas. Furthermore, the shift to remote work and digitalization prompted an increased focus on data centers and IT infrastructure, which, in turn, drove the demand for dry-type transformers in these facilities.
 

Asia Pacific Dry Type Transformer Market trends

The Asia Pacific dry-type transformer industry is witnessing several prominent trends. There is a growing emphasis on energy efficiency and sustainability, driving the adoption of dry-type transformers due to their eco-friendly and low-maintenance characteristics, particularly in environmentally sensitive areas. The region's expanding renewable energy sector is boosting the demand for dry-type transformers that can efficiently integrate and distribute power from sources such as solar and wind.
 

Additionally, advancements in transformer technology are leading to the development of more compact and lightweight models, catering to space-constrained applications. Furthermore, the rise of smart grids and digitalization is promoting the use of intelligent dry-type transformers with remote monitoring and diagnostics capabilities. Lastly, as urbanization continues, there is a heightened need for dry-type transformers in indoor applications, such as commercial buildings and data centers, where safety and reliability are paramount. These trends collectively reflect the evolving landscape of the Asia Pacific market for dry-type transformer, emphasizing energy efficiency, sustainability, and advanced technologies.
 

Asia Pacific Dry Type Transformer Market Analysis

Asia Pacific dry type transformer market is segmented in berry, closed and shell based on the core of the transformers. The transformers with shell core is anticipated to witness a tenfold growth at a CAGR of over 8.5% through 2032, majorly due to a heightened focus on energy efficiency and sustainability across the Asia Pacific region, which is leading to rise in demand for dry-type transformers over oil-filled transformers. The inherent attributes of shell-type transformers, such as lower energy losses and reduced environmental impact, align with these sustainability goals.
 

Moreover, the exceptional fire-resistant properties of shell-type dry-type transformers enhance safety, making them a preferred choice for applications in densely populated urban areas and critical infrastructure projects. Furthermore, the growing integration of renewable energy sources, such as solar and wind, has spurred the demand for transformers capable of efficiently handling variable and distributed energy generation. Shell-type dry-type transformers are well-suited to meet these requirements, contributing to their increased adoption.
 

Additionally, the modernization and expansion of power grids and distribution systems in the Asia Pacific region, coupled with the imperative need for a reliable power supply in commercial buildings and industrial facilities, are driving the uptake of shell-type dry-type transformers.
 

Based on technology, Asia Pacific dry type transformer market is segmented into air blast and self-air. Air blast transformer segment holds a major market share in 2022 and is anticipated to surpass USD 6.4 billion by 2032. Air blast transformers are extensively utilized in diverse electric networks, serving a wide range of establishments, from commercial enterprises to small-scale industries. These transformer units are meticulously engineered, featuring integrated fan or blower systems that enable efficient cooling, thereby regulating their operational temperatures and consequently enhancing performance and longevity.
 

The industry is poised for remarkable growth due to its capacity to manufacture cost-effective products that outperform traditional alternatives in terms of operational feasibility. The utilization of air blast cooling not only ensures effective heat dissipation but also leads to reduced downtime and maintenance expenses. This cooling method proves particularly effective in scenarios where transformers experience fluctuating loads or operate continuously, underscoring its reliability. The rise in deployment of air blast transformers can further be credited to their ability to bolster the overall stability and efficiency of power distribution networks, positioning them as a vital component in ensuring a dependable electricity supply across various sectors.
 

Dry-type transformers encompass various product types, including open wound, cast resin, vacuum pressure encapsulated, and vacuum pressure impregnated transformers. In recent years, vacuum pressure impregnated dry-type transformers have witnessed substantial demand growth and are anticipated to penetrate the market at a noteworthy CAGR of over 8.5% between 2023 and 2032, particularly within the Asia Pacific region. This surge in demand can be attributed to mounting concerns related to energy security, coinciding with a significant uptick in energy consumption across emerging economies. These factors are poised to drive the expansion of the vacuum pressure impregnated transformers demand.
 

The rapid growth of grid infrastructure, accompanied by the remarkable expansion of the renewable energy sector, creates a conducive environment for industry growth. Positive trends, such as the increasing adoption of micro-grid networks and the rapid development of utility-based renewable infrastructure, are expected to further bolster the industry's growth trajectory.
 

Vacuum pressure impregnation, involving varnish coating application through alternating cycles of vacuum and pressure, combined with integrated polyester resin, results in highly efficient products compared to open wound transformers. These pressurized units offer effective varnish penetration and increased corona resistance, making them well-suited for long-term adoption in the Asia Pacific market.
 

In the Asia Pacific dry type transformer market, the segmentation based on winding types includes two-winding transformers and auto transformers. Two winding transformers segment surpassed USD 3 billion in 2022 and is expected to cross USD 7 billion by 2032. The growth of the two-winding dry-type transformer across Asia Pacific is propelled by several key drivers including, the region's rapid urbanization and industrialization, which drive the expansion of electrical infrastructure, thus necessitating reliable transformers.
 

The focus on energy efficiency and sustainability fuels the replacement of older transformers with eco-friendly alternatives like two-winding dry-type transformers. Furthermore, the integration of renewable energy sources into the grid boosts demand for transformers capable of handling variable energy generation. Lastly, technological advancements, including compact designs, make these transformers suitable for space-constrained installations in urban substations and commercial buildings, collectively contributing to their market demand in Asia Pacific.
 

Dry-type transformers come in various ratings, including ≤ 5 MVA, > 30 MVA, and > 5 MVA to ≤ 30 MVA. Transformers with a ≤ 5 MVA rating held a market value of USD 2.7 billion in 2022 and are poised to exhibit a robust CAGR of over 7% through 2032. This particular market segment is poised for significant growth, primarily propelled by its wide-ranging utilization in critical sectors such as process industries, power generation, and infrastructure.
 

The swift and widespread adoption of renewable energy sources in residential settings, along with the rapid expansion of micro-grid networks, is expected to exert a positive influence on the industry's path forward. Furthermore, the escalating demand for compact transformers designed for indoor installations, along with consumer-driven cost considerations, has spurred manufacturers to embrace sustainable production practices. The ongoing trend of residential expansion, accompanied by rapid urbanization, is foreseen as a substantial contributing factor to the industry's expansive growth.
 

In the Asia Pacific dry type transformer market, applications are categorized into industries, indoor/underground substations, inner-city substations, renewable generation, and others. The industrial sector took a dominant market share of over 43% in 2022 and is poised to register over 7.5% CAGR till 2032. There is an growing prominence on integrating diverse frequency distribution networks within industrial contexts to ensure efficient and reliable power distribution. This drive towards network integration fuels the demand for advanced dry-type transformers. The heightened focus on energy efficiency within industrial operations promotes the adoption of dry-type transformers known for their high efficiency and reduced energy losses. Manufacturers and industries are increasingly looking for energy-efficient solutions to reduce operational costs and meet sustainability goals.
 

Moreover, the rising necessity for ultra-high voltage networks in industrial facilities, especially in heavy manufacturing and large-scale industries, creates a substantial demand for dry-type transformers capable of handling these voltage levels. Furthermore, substantial investments by both government bodies and private enterprises across developing nations to improve industrial infrastructure, drive electrification initiatives, and enhance grid resilience contribute significantly to the growth of the dry-type transformer market in the industrial sector within the Asia Pacific region.
 

China dry type transformer market is expected to cross USD 6 billion by 2032 owing to the rapid expansion of urban areas and industrial zones in China which necessitates reliable and efficient electrical distribution solutions. Dry-type transformers are favored for their safety, compact design, and environmental friendliness, making them a preferred choice for urban installations. China's commitment to energy efficiency and sustainability fuels the adoption of dry-type transformers, which are known for their high efficiency and reduced environmental impact. This aligns with the country's goals to reduce energy consumption and greenhouse gas emissions.
 

Additionally, the integration of renewable energy sources like wind and solar power into China's energy mix demands transformers capable of handling variable and distributed energy generation, further boosting the requirement of dry-type transformers. Furthermore, advancements in technology, including smart grid solutions and digitalization, are driving the need for modern and adaptable transformers, strengthening the market's growth prospects.
 

Asia Pacific Dry Type Transformer Market Share

Major players operating across the Asia Pacific dry type transformer market include:

• Hitachi Energy Ltd
• Toshiba Energy Systems & Solutions Corporation
• Eaton
• Siemens Energy
• Schneider Electric
• TMC Transformers S.P.A.
• URJA Techniques
• ABB SGB SMIT
• Fuji Electric Co Ltd
• Raychem RPG Private Limited
• General Electric
• WEG
• Bharat Heavy Electricals Limited (BHEL)
• CG Power & Industrial Solutions Ltd
   

Asia Pacific Dry Type Transformer Industry News:

• In October 2021, Toshiba Energy Systems & Solutions secured a contract for transformers and their auxiliary components for an urban-type underground substation, owned & operated by Eastern Green Power (EGP), a utility company based in Singapore. This contract was a part of an EPC contract between the utility company and EGP. As per the contract, Toshiba will deliver four 75 MVA transformers and three 200 MVA transformers for its 230 kV class substation, which is located in Southeast Asia; this substation will be in operation after 2025. Moreover, this supply will facilitate the company’s transformer portfolio across the Asia Pacific region along with its market share.
   

Asia Pacific dry type transformer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of ‘000 Units & USD Million from 2019 to 2032, for the following segments:

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By Core

• Closed
• Shell
• Berry

By Technology

• Self Air
• Air Blast

By Insulation

• Class R
• Class H
• Class F
• Class B
• Class A

By Product

• Open Wound
• Cast Resin
• Vacuum Pressure Impregnated
• Vacuum Pressure Encapsulated

By Winding

• Two Winding
• Auto-transformer

By Rating

• ≤ 5 MVA
• > 5 MVA to ≤ 30 MVA
• > 30 MVA

By Mounting

• Pad
• Pole
• Others

By Application

• Industries
• Inner-City Substations
• Indoor/Underground Substations
• Renewable Generation
• Others

The above information has been provided for the following countries:

• China
• Japan
• South Korea
• India
• Australia