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", provides a detailed overview of the major drivers, restraints, opportunities, and challenges impacting the global dry type transformer market along with the estimates and forecast of the revenue and market share analysis.
Browse 106 tables and 67 figures spread through 131 Pages and in-depth TOC on "Dry Type Transformer Market”
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The global dry type transformer market is expected to reach USD 5.38 Billion by 2020 from USD 4.16 Billion in 2015, at a CAGR of 5.3%. 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. Besides, there is no fire protection requirement for dry type transformers, thereby, resulting it to be environmentally safe. However, high costs and lack of governmental investments towards grid expansion and stability may hinder the growth of this market.
Globally, several renewable energy and grid upgrade projects are under progress, therefore, the dry type transformers are preferred as they are environment-friendly and offer high-level of safety.
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. The countries in RoW, such as Iran and Saudi Arabia are investing heavily in the expansion and restructuring of power and distribution grids, which is offering high growth prospects for the dry type transformer market.
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