Dry type Transformer Market is set to exceed USD 9 Billion by 2024
Date: 2018-11-01   Author: Rahul Sankrityayan  Category: #industry

Dry type Transformer Market is set to exceed USD 9 Billion by 2024

Expansion of low and medium voltage renewable networks along with applicability across underground substations will boost product penetration. The technology finds wide application across industrial establishments due to its lower toxicity over other conventional counterparts. Thereby, increasing demand for sustainable units along with advancing product precision will stimulate the business growth.

Dry Type Transformer Market is expected to surpass USD 9 billion by 2024. Ability to offer efficient noiseless operations coupled with economical cost structure will propel the industry growth.

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UK dry type transformer market is predicted to exceed 14000 unit annually by 2024.Stringent regulations toward energy efficiency along with technological innovation in smart transformer design will propel the business outlook. Introduction of renewable targets by EU has increased consumer focus toward the expansion of electrical network. Increasing demand for medium and low renewable systems across sub- urban establishments will further complement the industry growth.

Indoor dry type transformer market is predicted to witness growth owing to its less space requirement features along with growing demand for refurbishment and replacement of traditional electric network. Rapid expansion of sustainable energy network coupled with increasing investment toward real estate sector across developing nations will stimulate the industry growth.

Three phase dry type transformer market is predicted to witness growth over 9% owing to positive outlook towards the establishments of sustainable grid infrastructure to ensure supply security. Growing reforms pertaining to electrification to meet the increasing electricity demand along with operational reliability and competitive cost structure will foster the business growth. Cast resin dry type transformer market is projected to witness growth owing to its ability to self-extinguishing, low maintenance and flame-retardant properties.

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Elimination of leakage & spills along with effective operations across climatic extremities propel the dry type transformer market. Advancement in technology along with increasing demand for replacement of conventional insulated systems will further escalate the industry growth. Moreover, improved surge resistance backed by effective short circuit protection will augment the industry.

Positive outlook toward upgradation of existing grid infrastructure along with rapid deployment of smart monitoring and control units will propel the U.S. dry type transformer market growth. Growing demand for advance transformation units along with favorable measures toward energy efficient building will further complement the industry growth.

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Africa dry type transformer market for 2016 was valued over USD 200 million owing to high end dependency backed by ineffective grid infrastructure. Growing investment from financial institutions toward establishment of sustainable grid infrastructure coupled with rapid adoption of renewable energy technologies will further complement the business growth.

Key players in dry type transformer market includes ABB, Siemens, GE, Raychem, Toshiba, TRENCH, Kirloskar, Mehru, Celme, Ruhstrat, WEG, Meramec, Fuji Electric, ITEC, Abaft, BHEL, Voltamp, CG, KONCAR, EATON and Schneider.



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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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