October 09, 2020
According to the research report titled ‘Asia Pacific Dry Type Transformer Market Size By Core, Technology, Insulation, Product, Phase, Installation, Winding, Mounting, Application, Industry Analysis Report, Country Outlook, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report, Asia-Pacific dry type transformer market is anticipated to record substantial growth during 2020-2026.
Industry experts claim that increasing adoption of smart monitoring systems as well as advanced transmission & distribution networks, escalating electricity demand, high integration of large-scale sustainable power generation sources, and rapid digitization are augmenting the growth of Asia-Pacific dry type transformer market.
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Strict regulations pertaining to the installation of safe and reliable electrical equipment, rapid commercialization & urbanization, and favorable government initiatives towards ensuring grid stability are further fostering the industry expansion.
Additionally, rising investments towards the development of Tier II and Tier III cities coupled with surging product demand from the industrial and manufacturing verticals are stimulating the Asia-Pacific dry type transformer market outlook.
Based on core type, Asia-Pacific dry type transformer industry from the shell core segment is expected to grow significantly through 2026. Factors such as escalating demand for electricity, inclination towards effective transmission networks, increasing investments towards research & development activities, and increasing utilization of high voltage lines in the industrial sector are fueling the growth of the segment.
With regards to power rating, the < 5 MVA capacity transformer unit segment is expected to emerge as a major revenue generator for Asia-Pacific dry type transformer industry over the forecast period. Increasing electricity consumption across residential and commercial establishments, integration of IoT (Internet of Things)-based technologies and shifting consumer preference towards energy-efficient and environment friendly transformers are aiding the segmental growth.
The country-level bifurcation of Asia-Pacific dry type transformer market includes South Korea, India, Japan, Australia, and China.
Leading companies that define the Asia-Pacific dry type transformer industry trends are Voltamp Transformers Limited, Hyundai Heavy Industries Co. Ltd., Hyosung Corporation, Fuji Electric Co. Ltd., Celme Srl, Mehru Electrical & Mechanical Engineers Pvt. Ltd., Raychem-RPG Private Limited, Bharat Heavy Electricals Limited, Toshiba Corporation, Kirloskar Electric Company Ltd. (KEC), WEG Electric Corp., Schneider Electric SE, Siemens AG, Eaton Corporation plc, ABB Limited, CG Power and Industrial Solutions Limited, and General Electric Company (GE).