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Below are some of the key findings from the global dry-type transformers market
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The global dry-type transformers market is anticipated to grow at a steady rate and will post a CAGR of more than 5% during the forecast period. The deterioration of transformer oil due to the moisture ingress will drive the growth prospects for the global dry-type transformers market until the end of 2021. According to the industry research report, every time there is a moisture ingress, the quantity of the insulating oil increases, while, the life of the oil is reduced. Some of the major factors responsible for the deterioration of transformer oil is the development of small oil leaks in the oil cooling pipe, absorption of moisture from the atmosphere, aging of transformer, degradation of the insulation, pressure difference in the gasket seals, and failure in the replacement of moist silica in breathers with dry ones.
The expansion of renewable power generation capacity will drive the growth prospects for the global dry-type transformers in the forthcoming years. Some of the major contributing factors for the increasing adoption of renewable sources of energy like wind and solar energy are stringent carbon emission goals and the need to reduce the dependency on depleting fossil resources. For instance, the total wind power installed across the European Union was 142 GW, as per Global Wind Energy Council (GWEC) in 2016. In addition, it has been observed that the Gulf Cooperation Council (GCC) countries are also increasingly shifting towards the usage of alternative energy sources because they witness a constant and steady sunshine throughout the year.
The global dry-type transformers market is moderately fragmented and highly competitive due to the presence of a large number of regional and international vendors across the globe. Also, a large number of new entrants find it difficult to enter the market due to the high capital expenditure that is required to enter the market. Moreover, the new entrants find it difficult to compete against the international vendors in terms of quality, design, product features, turnaround time, services, and maintenance of customer relationships.
Key vendors in this market are -
Other prominent vendors in the market include DuPont, Eaton, ELANTAS, Fuji Electric, Hammond Power Solution, Jinpan International, Kirloskar Electric, KOTSONS, MGM Transformer Company, Prima Transformers, Raychem RPG, Synergy Transformers, TBEA Transformer Industrial, Temco, Vijay Power Control Systems, Virginia Transformer, and Voltamp Transformers.
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The distribution transformers accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. Some of the major factors responsible for the growing popularity of dry-type distribution transformers is its immunity towards any form of accidents caused by fire and its other environmental benefits.
In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. Some of the major factors responsible for the market’s growth in the region is rapid urbanization and improvements in the standard of living.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Market challenges
PART 10: Impact of drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
PART 15: Explore Technavio
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