Dry Type Transformer Market expected to reach $5.38B by 2020
India, Pune: The report "Dry Type Transformer Market by Technology (Cast Resin, Vacuum Pressure Impregnated), by Phase (Single-Phase, Three-Phase), by Voltage (Low, Medium), by Application (Industrial, Commercial, Others), by Geography - Global Forecast to 2020" has been published by Markets and Markets.
India, Pune: The report “Dry Type Transformer Market by Technology (Cast Resin, Vacuum Pressure Impregnated), by Phase (Single-Phase, Three-Phase), by Voltage (Low, Medium), by Application (Industrial, Commercial, Others), by Geography – Global Forecast to 2020” has been published by Markets and Markets.
According to the report, 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%, reports PR Newswire.
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.
The cast resin market segment is expected to account for the largest share of the global dry type transformer market by 2020. On the other hand, the VPI segment is expected to witness the growth rate of 4.8% during the forecast period.
Major players in this market include Hammond Power Solution, ABB, Siemens AG, General Electric, Jinpan International, Schneider Electric, TBEA, Eaton Corporation, Crompton Graves, and Voltamp Transformer.
Source: PR Newswire
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