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The global dry type transformer industry has been witnessing growth due to its wide applicability in the distribution of electricity. Increased spending in the transmission and distribution (T&D) network around the world has created a huge opportunity for dry type transformers. The dry type is dominating the market owing to the benefit of being moisture-proof, which makes it suitable for use in and near building applications. Moreover, the increased efficiency it provides over low voltage has resulted in an increase in the number of installations. The increase in indoor transformer installation is a boon for dry type transformers. The use of environmentally friendly products in the upgrading and development of power infrastructure is being prioritised, which creates business opportunities for dry type transformers worldwide. Oil, automobile, gas, electrochemical industry, and steel manufactures have a high demand for dry type transformers because of the diverse voltage range. Favourable regulatory reforms to ensure grid sustainability along with rapid adoption of smart control and monitoring systems will strengthen the industry demand further in the coming years.
Eminent players are focusing on high-tech advancements, coupled with mergers and acquisitions to meet the prevailing competition in the industry. In July 2020, Hitachi (OTCMKTS: HTHIY) acquired an 80.1% stake in ABB Ltd.'s power grid business and formed the Hitachi ABB power Grids Ltd. joint venture. Hitachi was able to expand its transformer product portfolio as a result of the acquisition.
Market Analysis by Type, Technology, Phase, Voltage, End-Use, and Regions:
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The major players in the global dry type transformer market are Bharat Heavy Electricals Ltd., Fuji Electric Co. Ltd., Eaton Corporation PLC, Hammond Power Solutions Inc., Hitachi Ltd., and Kirloskar Electrical Co. Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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