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An increase in demand for electricity are expected to drive innovation in cast resin dry type transformer manufacturing, thus driving the market during the forecast period.

The global cast resin dry type transformer market is expected to grow from $3.27 billion in 2022 to $3.19 billion in 2023 at a compound annual growth rate (CAGR) of -2.5%. The cast resin dry type transformer market is expected to grow from $2.98 billion in 2027 at a CAGR of -1.7%.

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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, Other Applications
• 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 is the largest region in the global cast resin dry type transformer market in 2021.

Major Market Players in the cast resin dry type transformer market include Kirloskar Electric Co., Ltd., Schneider Electric, Siemens AG, ABB, BHEL, Crompton Greaves Ltd., Eaton Corporation, Fuji Electric, General Electric.

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. For instance, French energy and automation digital solutions company Schneider Electric offers dry-type cast resin transformers with real-time visibility of equipment health for enhanced performance and long service life. Real-time thermal monitoring of devices allows users to detect any issues immediately and take preventative actions to avoid unplanned downtime.

The Cast Resin Dry Type Transformer Global Market Report 2023  provides a cast resin dry type transformer market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cast resin dry type transformer market forecast analyzes cast resin dry type transformer market size, cast resin dry type transformer market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A cast resin dry type transformer is a dry type of 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. It converts alternating current from one voltage to another voltage.

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