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Dry Type Transformer Market Size

Report ID: GMI2235
Published Date: Dec 2024
Report Format: PDF

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Dry Type Transformer Market Size

The global dry type transformer market size was assessed at USD 19.1 billion in 2024 and is envisioned to witness a CAGR of 8.5% from 2024 to 2034. Federal entities are increasingly investing in critical electricity transmission and distribution infrastructure to bolster grid flexibility and power system resilience. Governments worldwide are planning transformative projects through various investments to enhance grid reliability.

Dry Type Transformer Market

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As energy-efficient transformers gain prominence for their role in curbing operational costs and adhering to environmental regulations, dry-type transformers, known for their reduced energy losses relative to oil-filled counterparts, stand to benefit significantly. Furthermore, the surging adoption of renewable energy sources—like solar, wind, and hydropower—fuels the demand for dry-type transformers in energy conversion systems, underscoring the importance of reliability and low maintenance. The International Energy Agency reports that renewable energy sources accounted for nearly 30% of global electricity generation in 2023, highlighting the growing need for efficient energy conversion systems.

Dry Type Transformer Market Report Attributes
Report Attribute	Details
Base Year:	2024
Dry Type Transformer Market Size in 2024:	USD 19.1 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	8.5%
2025 – 2034 Value Projection:	USD 43.8 Billion
Historical Data for:	2021-2024
No. of Pages:	80
Tables, Charts & Figures:	20
Segments covered:	Core, Technology, Insulation, Product, Winding, Rating, Mounting and Application
Growth Drivers:	Refurbishment demand for existing grid infrastructure Growing deployment of renewable energy Increasing demand for electricity
Pitfalls & Challenges:	High initial cost

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Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The global dry type transformer industry was valued at USD 19.1 billion in 2024 and is projected to grow at a CAGR of 8.5% from 2024 to 2034, driven by increased investments in electricity transmission and distribution infrastructure.

The closed core segment is anticipated to exceed USD 21.6 billion by 2034 due to its compact and space-efficient design, which is ideal for urban areas and industrial applications.

The U.S. dry type transformer market is projected to exceed USD 678.5 million by 2034, fueled by the country's shift towards greener and more sustainable energy systems.

Key players in the industry include ABB, Bharat Heavy Electricals, Eaton, Fuji Electric, GE, Hitachi Energy, Instrument Transformer Equipment Corporation, Raychem RPG, SGB SMIT, Schneider Electric, Siemens Energy, TMC Transformers, and Toshiba Energy Systems & Solutions.