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India Dry Type Transformer Market Size

Report ID: GMI2402
Published Date: Jul 2024
Report Format: PDF

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India Dry Type Transformer Market Size

India Dry Type Transformer Market was valued at USD 800 million in 2023 and is expected grow at a CAGR of 9% from 2024 to 2032, due to increasing energy demands and a shift towards renewable energy sources. Urbanization and industrialization have spurred infrastructure development, necessitating reliable and efficient power distribution solutions. Dry type transformers, known for their safety, low maintenance, and environmental benefits, are becoming preferred choices over oil-filled counterparts. The government's push for sustainable energy, including initiatives like the Smart Cities Mission and renewable energy targets, further propels market growth.

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Additionally, advancements in technology and the emphasis on energy efficiency enhance the adoption of these transformers in various sectors, including commercial, residential, and industrial. Key players in the market are focusing on innovation and expanding their product portfolios to meet diverse customer needs, contributing to the market's positive trajectory. There is a growing focus on energy efficiency across industries and utilities in India. Air blast transformers, with their high efficiency and low energy losses, align with these energy efficiency goals. Their ability to reduce operational costs while maintaining high performance is driving their adoption.

India Dry Type Transformer Market Report Attributes
Report Attribute	Details
Base Year:	2023
India Dry Type Transformer Market Size in 2023:	USD 800 Million
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	9%
2032 Value Projection:	USD 1.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	110
Tables, Charts & Figures:	15
Segments covered:	Core, Technology, Insulation, Product, Winding, Rating, Mounting, Application
Growth Drivers:	Large scale renewable integration Increasing demand for electricity
Pitfalls & Challenges:	High initial cost

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Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of India dry type transformer was valued at USD 800 million in 2023 and is anticipated to grow at a CAGR of 9% through 2032, as these transformers are commonly used in renewable energy installations due to their ability to operate in harsh environments and their higher resistance to moisture and contaminants.

The closed core segment is expected to cross USD 1 billion by 2032, due to the rapid urbanisation and need for efficient space utilization are boosting production adoption as these transformers are known for their compact and enclosed design.

The air blast segment is anticipated to record a CAGR of more than 8.4% through 2032, owing to their utilization as forced air cooling, which significantly enhances heat dissipation compared to natural cooling methods.

ABB, GE, Eaton, Schneider Electric, Siemens Energy, Hitachi Energy Ltd., CG Power & Industrial Solutions Ltd., Toshiba Energy Systems & Solutions Corporation, Bharat Heavy Electricals Limited (BHEL), URJA Techniques among others.