Asia Pacific Dry Type Transformer Market size is anticipated to grow on account of rising electricity demand along with growing adoption of advanced T&D networks. Rapid industrialization and urbanization followed by large scale integration of renewable generation sources will enhance the deployment of the digital based electrical components. In addition, stringent government norms toward adoption of safe, reliable and efficient electrical equipment will boost the product demand.
Closed core dry type transformer market will witness growth on account of growing inclination toward smart grid adoption along with rising focus toward safe and secure systems. Paradigm shift toward micro grid networks in line with development of Tier II & III cities will positively sway the business scenario. Moreover, ongoing modernization of existing industrial and manufacturing sectors along with expansion of power distribution networks will propel the product adoption.
Renewable generation industry across the region, is anticipated to surge on account of large-scale integration of sustainable energy resources. Increasing government focus toward the deployment of clean energy systems followed by improved energy efficient operations with minimum power loss will drive the business landscape. Growing investment toward deployment of solar and wind power generation plants along with favorable government norms favoring the installation of self-sustaining energy networks will boost the industry outlook.
Outdoor transformer units are set to surge owing to its ability to withstand extreme weather conditions along with increasing applicability of these systems across inter-city substations and industrial sectors. Low installation and maintenance cost followed by rising demand for safer power distribution networks will fuel the industry outlook. Moreover, ongoing expansion of power networks coupled with growing adoption of durable and reliable electricity supply equipment will accelerate the product demand.
Increasing investment toward R&D sector to integrate cloud based systems along with improved monitoring and control devices will propel the product portfolio. For instance, in 2018 ABB launched its digitally operated dry type transformer ‘TXper’ which includes data analytics processing units and improved monitoring devices. Ongoing technological advancement toward electrical transmission components will increase the product adoption for efficient and reliable power supply.
Japan dry type transformer industry is projected to witness growth on account of rising electricity demand along with refurbishment of conventional grid infrastructure. Rapid urbanization along with ongoing government incentives and subsidies toward installation of advanced and effective power supply systems will fuel the product demand. Ongoing regulatory inclination for smart grids integration along with growing consumer focus toward sustainable energy components will further complement the industry growth.
Ongoing COVID - 19 impact may affect the industry on account of delay in dry type transformers installation targets up till first half of 2020. However, continuous electricity demand followed by increasing efforts by industries to fulfill their proposed targets will positively sway the business scenario. Moreover, ongoing infrastructural developments across healthcare, commercial and residential sector will fuel the industry outlook.
Key players are focusing toward innovative design to integrate eco-friendly transformer units along with ongoing merger & acquisitions to encounter the increasing competition across the industry will fuel the business scenario. Major leading participants operating across Asia Pacific dry type transformer market are GE, WEG, ABB, Kirloskar Electric, Schneider Electric, Hyosung Corporation, Eaton Corporation, Siemens, CG, Raychem, Toshiba, Fuji Electric, Bharat Heavy Electricals Limited, Voltamp Transformers, Mehru, Hyundai Heavy Industries and Celme.