Published Date: 16-Sep-2020
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According to a new report Global Dry Type Transformer Market, published by KBV research, The Global Dry Type Transformer Market size is expected to reach $7.5 billion by 2026, rising at a market growth of 6.9% CAGR during the forecast period.
On the basis of type, the dry type converter transformers section represented the biggest revenue share in 2019, attributable to its broad use in industrial, commercial, and other end-uses. By technology, the cast resin dry type transformer portion represented the biggest revenue share in 2019, attributable to its widespread adoption in regions, for example, general and public buildings, industrial plants, wind turbine plants, solar farms, LNG vessels; business spaces, for example, air terminals and railroad, and special transformer applications, for example, furnace transformer, electric welding equipment, and UPS frameworks.
On the basis of phase, the single-phase dry type transformer represented the biggest share in 2019, attributable to its enormous adoption in low voltage distribution applications. Based on voltage, the low-voltage dry type transformer represented the biggest share in 2019 because of its utilization in industrial applications and in commercial and public structures.
Asia-Pacific represented the biggest share in 2019. The biggest share is due to components, for example, the presence of exceptionally populated nations, for example, India and China, new electrification projects in industrial, business, and infrastructure divisions. North America is anticipated to develop at the highest rate during the dry type transformer market forecast period, attributable to development in electricity demand in nations, for example, the U.S. Further, the development capability of sustainable energy sources in the U.S. is high.
Structural Insights: https://www.kbvresearch.com/dry-type-transformer-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Eaton Corporation Plc., General Electric (GE) Co., Siemens AG, Schneider Electric SE, Hitachi, Ltd., Fuji Electric Co. Ltd. (Furukawa Group), Bharat Heavy Electricals Ltd., Hammond Power Solutions, Inc., Kirloskar Electric Co., Ltd. and Hyosung Heavy Industries Corporation.
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