Dry Type Transformer Industry Regional Synopsis
APAC Market Forecast
Dry type transformer market in Asia Pacific is anticipated to hold the largest with a share of about 31% by the end of 2037 on account of the growing need for reliable and cost-efficient electrical power transmission and distribution coupled with the increasing demand for electrical and electronic products in the region.
Furthermore, the market growth in the region will be enhanced by the rise in investments, particularly in the development of advanced and modern residential sectors. A notable example is Aflac's accomplishment in December 2020 where they made sustainable investments totaling over USD 1.7 billion. These investments primarily focused on supporting education, affordable housing, public transit, and hospitals both, in Japan and the United States.
North American Market Statistics
The North America dry type transformer market is estimated to be the second largest, registering a share of about 26% by the end of 2037. The market’s expansion can be attributed majorly to the rise in demand for dry type transformer from various sectors such as IT/telecommunication, data centers, and industrial, due to their low maintenance cost and high efficiency in comparison to other transformers.
Additionally, the increasing focus on the development of smart cities and the rising trend of industrial automation is expected to fuel the demand for dry type transformers in the coming years. Smart cities require reliable and robust power systems, and dry type transformers are more efficient and less prone to breakdowns in comparison to their liquid-filled counterparts. Similarly, industrial automation requires a secure and reliable power supply which dry type transformers can provide.
