Dry type transformer market to reach $5.38B by 2020
A new report titled "Dry Type Transformer Market - Global Forecast to 2020" predicts the global dry type transformer market is expected to reach $5.38 billion by 2020 from $4.16 billion in 2015, at a CAGR of 5.3%.
A new report titled “Dry Type Transformer Market – Global Forecast to 2020” predicts the global dry type transformer market is to reach $5.38 billion by 2020 from $4.16 billion in 2015, at a CAGR of 5.3%.
According to the report, the dry type transformers market is driven by the increasing demand of energy, reduction of fire hazards, and need to adopt safe methods to distribute electricity for residential and commercial use, reports WhaTech.
Asia-Pacific is the major contributor to the dry type transformers market. The major drivers for the dry type transformers market are increasing demand from emerging economies such as India and China, large number of ongoing grid restructuring & expansion projects, ands smart grid projects.
On the basis of technology, the market is divided into Cast Resin, and VPI. The Cast Resin segment is expected to account for the largest share of the global dry type transformer market by 2020.
Major players profiled in the report are Hammond Power Solution, ABB, Siemens, General Electric, Jinpan International, Schneider Electric, TBEA Transformer Industrial Group, Eaton Corporation, Crompton Graves and Voltamp Transformer.
Source: WhaTech
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