Technavio, a tech-focused market research firm, has published a new report on the global dry-type transformers market, which is expected to grow at a CAGR of close to 5% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global dry-type transformers market into the following key regions: the Americas, APAC, and EMEA.
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Dry-type transformers market in APAC: The market demand for electricity in APAC remains high due to the augmented electricity consumption in the region. Rapid urbanization and improved living standards have boosted electricity consumption in major countries such as China and India. The increase in private participation in the power transmission and distribution (T&D) market may result in higher investments in power transmission networks in the region, especially in China, India, Australia, and Thailand.
According to Anju Ajaykumar, an industry expert at Technavio, specializing in research on unit operations, “Regarding investment and other activities in the T&D infrastructure development, China leads the market, followed by India. India contributes immensely to the transformer market in APAC owing to the rapid developments in both commercial and industrial infrastructures of the country.”
Dry-type transformers market in EMEA: The major contributors to the power transformer market in Europe include Germany, France, and the UK. Since the past decade, power utilities in the region have adopted solar, hydro, wind, and other forms of renewable energy sources. The region is also home to well-defined T&D infrastructure, so it is expected that the market for dry-type electrical transformers will grow steadily in Europe. Technavio expects most of the market demand to stem from renovation activities.
Dry-type transformers market in the Americas: The primary markets in the Americas are the US, Canada, and Mexico, with the US being the largest. The North America Electric Reliability Corporation (NERC) has mandated consistency standards for grid interconnections with all the regions. Hence, electric utilities invest heavily in upgrading, restoring, and maintaining existing transmission network infrastructure. Further, technological advances in smart grids are expected to fuel the market demand for power transformers and hence, drive the demand for dry-type transformers in the region.
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The top vendors operating in the global dry-type transformers market are:
- ABB
- Crompton Greaves
- GE
- Schneider Electric
- Siemens
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.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Dry-Type Transformers Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Transformer Monitoring Solutions Market 2016-2020
- Global Instrument Transformer Market 2016-2020
- Global Transformer Oil Market 2016-2020
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