The dry type transformer market size was valued at $5.4 billion in 2019, and is projected to reach $7.3 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.
A dry-type transformer, also known as a dry-type or cast resin transformer, is a type of electrical transformer that uses air as the cooling medium instead of oil. Unlike traditional liquid-filled transformers that use oil for cooling and insulation, dry-type transformers utilize solid insulation materials and airflow to dissipate heat and insulate the electrical components.
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Electrification projects for meeting the present electricity demands, adoption of renewable energy generation, and subsequent integration with the power grid are the major drivers.
North America is expected to growth at the highest rate of 6.6% during the forecast period. The growth is attributed to growth in electricity demand in countries such as the U.S. Further, the growth potential of renewable energy sources in the U.S. is high.
Dry type transformers are magnetic core transformers in which the windings and core are kept in a sealed tank that uses air as a cooling medium instead of oil or other liquids as in a typical liquid-filled transformer.
Leading market players analyzed in the research include Eaton Corporation Plc, Bharat Heavy Electricals Ltd., General Electric Company, Fuji Electric Co. Ltd., Henley Energy GCC, Hammond Power Solutions Inc., Hyosung Heavy Industries, Hitachi Ltd., Power Sp. z o.o., and Kirloskar Electric Co. Ltd.
Asia-Pacific dominated the dry type transformer industry with a revenue share of over 41.2% in 2019.
Cast resin and vacuum impregnation are the major technologies used to produce dry type transformers. In a cast resin dry type transformer, high-voltage (HV) and low-voltage (LV) windings are completely impregnated and cast under vacuum in epoxy resin.
This encapsulation helps prevent moisture to penetrate the winding material. The insulating material offers excellent fire hazard protection; thereby, suitable for indoor installations. This makes them the preferred choice for underground or city-building substations that require site-specific fire prevention and fire contingency-management strategies.
In vacuum pressure impregnation (VPI), transformer windings are vacuum impregnated with polyester or epoxy and baked under variable pressure cycles. VPI transformers offer high mechanical strength and operate under high and variable loads.
Dry type transformers offer various advantages over wet transformers. It is easy to install and requires less maintenance, excellent resistance to short circuit currents and capacity to support overloads, uses no environmentally hazardous hydrocarbon liquids hence it is eco-friendly and pollution free.
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Advantages:
Safety: Dry-type transformers are considered safer than oil-filled transformers because they do not pose the risk of oil leaks or fires associated with oil-filled transformers. They are often preferred in locations with strict safety regulations or fire risk concerns.
Environmental Compatibility: Since dry-type transformers do not use oil, they do not pose the same environmental risks in terms of oil spills and disposal. They are considered more environmentally friendly.
Reduced Maintenance: Dry-type transformers generally require less maintenance compared to oil-filled transformers, as there is no need to monitor or replace oil and deal with potential leaks.
Indoor and Outdoor Use: Dry-type transformers are suitable for indoor installations, making them applicable in a variety of settings, including commercial buildings, industrial facilities, and substations.
No Risk of Explosions: The absence of oil eliminates the risk of explosions due to electrical faults or arcing inside the transformer.
Dry type transformers have gained high demand in the recent years as they are installed in industrial, commercial, as well as residential and non-residential constructions.
In industries, some machineries require specific voltage requirements along with providing safety against fire and chemical hazards.
Dry type transformers are available in single-phase as well as three-phase, and mainly operate in low and medium voltage ranges.
Increase in electricity consumption, new civil infrastructural developments, replacement of existing distribution transformers for integration with renewable energy sources as well as deployment of smart power grids are the major factors that boost the growth of the global dry type transformer market.
The development of electric cars and incentives to deploy them is increasing the consumption of electricity in the automotive sector.
Impact Of Covid-19 On the Global Dry Type Transformer Market
Renewable energy generation is the largest consumer for dry type transformer in industrial segment, which is also affected to a great extent during the pandemic.
In the global solar industry, more than 40% of the supply chain is reliant on supply from China and other Southeast Asian countries
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China is the known source of this pandemic and the country is the most affected one in terms of material supply and material transport due to COVID-19.
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