Cast Resin Dry Transformer
English Public
Market Snapshot.
The cast resin dry-type transformer market size and share is expected to reach approximately USD 3 billion by 2023, growing at a CAGR of around 5.3% during the forecast period. Furthermore, according to the research analysis, the global cast resin dry-type transformer market is expected to reach approximately USD 5 billion by 2035.
Market overview.
Cast resin dry-type transformers are dry-type transformers that do not use liquids for insulation. The primary and secondary windings of cast resin dry-type transformers are encapsulated in epoxy resin, which prevents moisture from affecting the winding material.
Request a sample PDF report here: https://www.sdki.jp/sample-request-107887
Growth factors of the cast resin dry-type transformer market
1. rising demand for power solutions driving the growth of the cast resin dry-type transformer market - Cast resin dry-type transformers are widely used to convert the current voltage to the required industry standard. These transformers are used in a variety of electrical applications, such as reducing the current voltage in conventional power circuits to operate low-voltage devices or increasing the current voltage present in generators to transport electricity over long distances. Used for. According to our cast resin dry-type transformer market analysis, global electricity demand increased by 4% in 2022 compared to 2021, when it was estimated to be around 1000 TWh. Hence, the increasing demand for electricity is expected to fuel the growth of the cast resin dry-type transformer market.
2. advances in smart power grid development will contribute to the expansion of the cast resin dry-type transformer market - according to our cast resin dry-type transformer market research report, the global smart grid industry will grow to account for approximately USD 43.2 billion. Advances in smart power grid development are transforming the energy sector and driving the growth of the cast resin dry-type transformer market. Smart grids feature advanced technologies such as communication networks, intelligent control systems and real-time monitoring to improve the efficiency, sustainability and reliability of power distribution. With excellent insulation properties and environmental benefits, cast resin dry-type transformers are ideal for smart grid integration. These transformers improve load management capabilities, enhance safety and reduce energy losses. As smart grid infrastructure expands globally, the demand for cast resin dry-type transformers will emerge, fuelling market growth and promoting a more efficient and sustainable energy environment.
Latest trends in the cast resin dry-type transformer market
1. in October 2021, Prolec GE acquired SPX Transformers in the cast resin dry-type transformer market for approximately USD 645 million. With this agreement, Prolec GE will offer a wide range of innovative and practical solutions for electrical energy distribution to the developing US market.
2. in April 2022, Siemens Energy launched a dry-type single-phase transformer for utility poles. The new cast resin dry-type transformers have been developed to meet the technical specifications of the US power grid and are a reliable and environmentally friendly alternative to oil-filled transformers.
Cast resin dry-type transformer market challenges
One of the major factors expected to restrain the growth of the cast resin dry-type transformer market is the high initial cost of cast resin dry-type transformers compared to conventional liquid-filled transformers during the forecast period. Although the advanced design and materials used in cast resin dry-type transformers contribute to their high performance, according to our cast resin dry-type transformer market analysis, initial investment is a significant market constraint for some potential customers. It is ...
Competitive situation.
Key players and manufacturers in the cast resin dry-type transformer market include Kirloskar Electric Company, Schneider Electric, Siemens, ABB, Bharat Heavy Electricals Limited, Crompton Greaves Consumer Electricals Limited, Eaton, Fuji Electric Corporation, General Electric, Hammond Power Solutions, Hitachi, Voltamp, WEG, Hyosung Heavy Industries, Legrand, PI Industries Limited, Power Sp. Zoo and others. The study includes detailed competitive analysis, company profiles, recent trends and key market strategies of these key players in the global cast resin dry-type transformer market.
For more information on the market research report, visit: https://www.sdki.jp/reports/cast-resin-dry-transformer-market/107887
The cast resin dry-type transformer market size and share is expected to reach approximately USD 3 billion by 2023, growing at a CAGR of around 5.3% during the forecast period. Furthermore, according to the research analysis, the global cast resin dry-type transformer market is expected to reach approximately USD 5 billion by 2035.
Market overview.
Cast resin dry-type transformers are dry-type transformers that do not use liquids for insulation. The primary and secondary windings of cast resin dry-type transformers are encapsulated in epoxy resin, which prevents moisture from affecting the winding material.
Request a sample PDF report here: https://www.sdki.jp/sample-request-107887
Growth factors of the cast resin dry-type transformer market
1. rising demand for power solutions driving the growth of the cast resin dry-type transformer market - Cast resin dry-type transformers are widely used to convert the current voltage to the required industry standard. These transformers are used in a variety of electrical applications, such as reducing the current voltage in conventional power circuits to operate low-voltage devices or increasing the current voltage present in generators to transport electricity over long distances. Used for. According to our cast resin dry-type transformer market analysis, global electricity demand increased by 4% in 2022 compared to 2021, when it was estimated to be around 1000 TWh. Hence, the increasing demand for electricity is expected to fuel the growth of the cast resin dry-type transformer market.
2. advances in smart power grid development will contribute to the expansion of the cast resin dry-type transformer market - according to our cast resin dry-type transformer market research report, the global smart grid industry will grow to account for approximately USD 43.2 billion. Advances in smart power grid development are transforming the energy sector and driving the growth of the cast resin dry-type transformer market. Smart grids feature advanced technologies such as communication networks, intelligent control systems and real-time monitoring to improve the efficiency, sustainability and reliability of power distribution. With excellent insulation properties and environmental benefits, cast resin dry-type transformers are ideal for smart grid integration. These transformers improve load management capabilities, enhance safety and reduce energy losses. As smart grid infrastructure expands globally, the demand for cast resin dry-type transformers will emerge, fuelling market growth and promoting a more efficient and sustainable energy environment.
Latest trends in the cast resin dry-type transformer market
1. in October 2021, Prolec GE acquired SPX Transformers in the cast resin dry-type transformer market for approximately USD 645 million. With this agreement, Prolec GE will offer a wide range of innovative and practical solutions for electrical energy distribution to the developing US market.
2. in April 2022, Siemens Energy launched a dry-type single-phase transformer for utility poles. The new cast resin dry-type transformers have been developed to meet the technical specifications of the US power grid and are a reliable and environmentally friendly alternative to oil-filled transformers.
Cast resin dry-type transformer market challenges
One of the major factors expected to restrain the growth of the cast resin dry-type transformer market is the high initial cost of cast resin dry-type transformers compared to conventional liquid-filled transformers during the forecast period. Although the advanced design and materials used in cast resin dry-type transformers contribute to their high performance, according to our cast resin dry-type transformer market analysis, initial investment is a significant market constraint for some potential customers. It is ...
Competitive situation.
Key players and manufacturers in the cast resin dry-type transformer market include Kirloskar Electric Company, Schneider Electric, Siemens, ABB, Bharat Heavy Electricals Limited, Crompton Greaves Consumer Electricals Limited, Eaton, Fuji Electric Corporation, General Electric, Hammond Power Solutions, Hitachi, Voltamp, WEG, Hyosung Heavy Industries, Legrand, PI Industries Limited, Power Sp. Zoo and others. The study includes detailed competitive analysis, company profiles, recent trends and key market strategies of these key players in the global cast resin dry-type transformer market.
For more information on the market research report, visit: https://www.sdki.jp/reports/cast-resin-dry-transformer-market/107887
by akiariku
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