Global Cast Resin Dry Type Transformer Market Size, Forecasts, And Opportunities – Including Cast Resin Dry Type Transformer Market Outlook
Learn about the global cast resin dry type transformer market through The Business Research Company, which provides information on cast resin dry type transformer market size, cast resin dry type transformer market drivers and restraints, cast resin dry type transformer market players, the COVID-19 impact on the cast resin dry type transformer market, and more.
The global cast resin dry type transformer market size is expected to grow from $3.36 billion in 2021 to $3.58 billion in 2022 at a compound annual growth rate (CAGR) of 6.55%. The growth in the market is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global cast resin dry type transformers market size is expected to reach $4.58 billion in 2026 at a CAGR of 6.36%.
An increase in demand for electricity is expected to drive the cast resin dry type transformer market.
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The cast resin dry type transformer market consists of sales of cast resin dry type transformers by entities (organizations, sole traders, and partnerships) that convert alternating current from one voltage to another voltage. A cast resin dry type transformer is a dry type transformer that does not use liquid for insulation with the primary and secondary windings encapsulated with epoxy resin. The cast resin offers protection against adverse ambient conditions and is generally smaller in dimensions and lighter in weight. They are used in commercial, industrial, and residential settings for indoor and outdoor applications. Cast coil transformers are better in respect of impulse voltage withstand strength compared to conventional dry type transformers.
Global Cast Resin Dry Type Transformer Market Segments Include:
By Type: Converter Transformer, Rectifier Transformer
By Cooling Type: Natural Air Cooling, Forced Air Cooling
By Phase: Single Phase, Three Phase
By Voltage: Low Voltage, Medium Voltage
By Application: Industrial, Commercial, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific was the largest region in the cast resin dry type transformer market in 2021.
The use of Internet of Things (IoT) enabled cast resin dry type transformers is a key trend gaining popularity in the market. The use of IoT connectivity ensures the identification of poor quality electrical connections with thermal monitoring, thus extending equipment life and reducing maintenance expenses as well as downtime.
Major Market Players: Kirloskar Electric Co., Ltd., Schneider Electric, Siemens AG, ABB, BHEL, Crompton Greaves Ltd., Eaton Corporation, Fuji Electric, General Electric, Hammond Power Solutions, Hitachi Ltd., Voltamp Transformers, WEG Group, Hyosung Heavy Industries, Legrand, PI, Cast-RESIN and Power Sp. z o.o.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Cast Resin Dry Type Transformer Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides cast resin dry type transformer market overviews, analyzes and forecasts market size, share, cast resin dry type transformer market players, cast resin dry type transformer market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s cast resin dry type transformer market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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