DUBLIN, April 25, 2022--(BUSINESS WIRE)--The "Cast Resin Dry Type Transformer Market by Type, Cooling Type, Phase, Voltage and End Use: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global cast resin dry type transformer market was valued at $3.0 billion in 2020, and is projected to reach $5.0 billion by 2030, growing at a CAGR of 5.3% from 2021 to 2030.
Cast resin dry type transformer is a type of transformer designed on a comparatively modern technology that uses natural or forced air cooling instead of oil and the magnetic circuit & windings are not immersed in an insulating liquid but are cast with an epoxy resin mixture. Unlike liquid fill transformers that require oil or liquid to cool, cast dry type transformers use only high temperature insulation systems that are environmentally safe. Cast resin dry type transformers are available in various power ratings and can be used in a wide range of applications and represent the most reliable answer for distribution systems, power production, rectification, traction, and special solutions.
The cast resin dry type transformer market is driven by its wide applicability in the distribution of electricity. The expansion of electricity distribution network across the globe and renovation of old grid infrastructure are expected to drive the market growth during the forecast period. In addition, heavy to small scale industries employ machineries that have specific voltage requirement. Some industries, such as oil & gas, mining, and marine, have specialized voltage requirements as fire safety is important in these sectors, resulting in fueling the demand for cast resin dry type transformer during the analyzed time frame. However, cast resin dry type transformer has relatively poor heat dissipation performance, complex construction, and high cost of dry type transformer as compared to liquid/oil cooled transformer. These factors are anticipated to hamper the market growth during the analyzed time frame.
The cast resin dry type transformer market is segmented into type, cooling type, phase, voltage, end use, and region. By type, the market is categorized into converter transformer and rectifier transformer. On the basis of cooling type, it is bifurcated into natural air cooling and forced air cooling. As per phase, it is classified into single phase and three phase. By voltage, the market is fragmented into low and medium. The end use covered in the study include industrial, commercial, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
A comprehensive analysis of the factors that drive and restrict the growth of the global cast resin dry type transformer market is provided.
Porter's five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
Estimations and forecast are based on factors impacting the global cast resin dry type transformer market growth, in terms of value.
Key market players are profiled to gain an understanding of the strategies adopted by them.
This report provides a detailed analysis of the current trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.
Increase in demand for electricity from different end-use industries
Rise in adoption of renewable and non-conventional energy sources
Development of solid-state transformers (SSTs)
Development and adoption of smart grids and digital dry type transformers
For more information about this report visit https://www.researchandmarkets.com/r/o347k0
View source version on businesswire.com: https://www.businesswire.com/news/home/20220425005515/en/
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