According to the Graphical Research new growth forecast report titled “Asia Pacific Dry Type Transformer Market Size By Core (Closed, Shell, Berry), By Technology (Self-air, Air-blast), By Insulation (Class R, Class H, Class F, Class B, Class A), By Product (Open Wound, Cast Resin, Vacuum Pressure Impregnated, Vacuum Pressure Encapsulated), By Phase (Single, Three), By Installation (Outdoor, Indoor), By Winding (Two-winding, Auto-transformer), By Rating (< 5 MVA, 5 MVA to 30 MVA, > 30 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Industries, Inner-city Substations, Indoor/Underground Substations, Renewable Generation), Industry Analysis Report, Country Outlook (China, Australia, India, Japan, South Korea), Price Trends, Competitive Market Share & Forecast, 2020 – 2026”, Set to Explode by 2026.
Asia Pacific Dry Type Transformer Market Share is predicted to surge on account of increasing electricity demand in line with rising adoption of advanced transmission and distribution networks. Integration of large scale sustainable power generation sources along with digitalization across the region will further boost the business scenario. Moreover, stringent regulatory norms toward installation of safe, reliable and advanced electrical equipment will fuel the product demand.
Rapid urbanization & commercialization along with growing public & private investments toward development of Tier II and Tier III cities will facilitate the industry growth. In addition, favorable government policies to ensure grid stability followed by increasing adoption of smart monitoring systems will propel the business landscape. Furthermore, wide scale utilization across manufacturing and industrial sectors to operate under high power ratings will positively influence the product demand.
Shell based dry type transformer market will witness growth on account of rising electricity demand coupled with paradigm shift toward adoption of effective transmission networks. In addition, ongoing R&D investments by industry players to reduce maintenance and installation cost will positively sway the product demand. Furthermore, growing inclination toward the development of high voltage lines to meet the increasing energy demand across the industrial sector will fuel the industry growth.
Favorable regulatory norms toward expansion of small & medium scale industries along with growing inclination toward sustainable power generation sources will stimulate the industry outlook. In addition, ongoing development of renewable powered grid networks favored by reforms including incentives, subsidies, leveraging schemes will complement the business growth. Furthermore, rising investments from state government entities toward upgradation of conventional power infrastructure with smart and cloud based systems will fuel the industry outlook.
< 5 MVA capacity transformer units will witness an upsurge on account of increasing electricity consumption across commercial and residential establishments. Shifting consumer focus toward energy efficient, eco-friendly and fire resistant transformers across primary & secondary T&D networks will further stimulate the product adoption. In addition, integration of IOT based applications across these units for enhanced monitoring operations will thrust the industry potential.
Impact of COVID - 19 on the market may affect the deployment of dry type transformers targets up till 2nd half of 2020. However, rising electricity demand in line with growing efforts by manufacturing, distribution and supply sectors to fulfill their commissioning targets will positively stimulate the business scenario. In addition, ongoing sustainable infrastructural developments across commercial, residential and healthcare sector will fuel the business outlook.
Ongoing mergers & acquisitions and strategic partnerships among the prominent manufacturers to install advanced transformer units will boost the industry scenario. Eminent players are focusing toward cutting edge technology design to deploy eco-friendly units will fuel the business landscape. Major leading players operational in market includes Voltamp Transformers, GE, Kirloskar Electric, WEG, Hyosung Corporation, ABB, Schneider Electric, Siemens, Eaton Corporation, Toshiba, CG, Raychem, Hyundai Heavy Industries, Fuji Electric, Celme, Bharat Heavy Electricals Limited and Mehru.