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United States Dry Type Transformer Market Size, Analysis: By Type: Power Transformer, Distribution Transformer; By Phase: Single-Phase, Three-Phase; By Voltage: Low, Medium, High; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
United States Dry Type Transformer Market Outlook
The United States dry type transformer market size reached approximately USD 2.28 billion in 2023. The market is estimated to grow at a CAGR of 7.3% in the forecast period of 2024-2032, reaching a value of around USD 4.35 billion by 2032.
Key Trends in the Market
Dry type transformers are transformers that rely on air, gas, or a solid material as an insulating medium instead of a liquid or a coolant. These transformers do not need to be stored in a fire protection vault unlike standard transformers, require minimal maintenance, and can last for a long period of time.
- Growing usage of dry type transformers due to their safety features in commercial and industrial applications is one of the major factors driving the United States dry type transformer market growth. These transformers are insulated with solid materials such as epoxy resin or air which are non-flammable and non-combustible unlike oil and mitigate the risk of fire during power fluctuations.
- Rising deployment of enclosed and non-ventilated dry type transformers in harsh environments where there is high exposure to chemical and combustive materials also boosts the US market expansion. Such transformers are mostly utilised in food processing, petrochemical, and pulp and paper sectors to prevent unwarranted substances from causing damage to the transformer components.
- Increased integration of smart sensors in dry type transformers for real-time monitoring of temperature and other parameters and early detection of potential failure of assets is also expected to contribute to the United States dry type transformer market demand in the forecast period. These sensors provide timely maintenance to avoid unnecessary repair costs, ensure the on-site safety of workers by preventing accidents, and improve the overall operational performance of transformers.
United States Dry Type Transformer Market Segmentation
Based on type, the market is bifurcated into power transformer and distribution transformer. On the basis of phase, the market is divided into a single-phase and three-phase. Based on voltage, the market is segmented into low, medium, and high.
The major regional markets of dry type transformer in the United States include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the United States dry type transformer market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- ABB Ltd.
- Schneider Electric SE
- Siemens AG
- HD Hyundai Electric Co., Ltd.
- Eaton Corporation Plc
- Emerson Electric Co.
- Kirloskar Electric Co., Ltd.
- Hammond Power Solutions Inc.
- JST Power Equipment, Inc.
- MGM Transformer Company
- Others
Market Share by Type
Distribution dry type transformers occupy a sizeable portion of the United States dry type transformer market share, owing to their increased integration with renewable energy sources into the power grids as they can withstand variable loads. These transformers are also increasingly utilised in urban areas with enclosed spaces as they offer better safety features compared to oil-type transformers.
These transformers also align with the grid modernisation efforts as they offer advanced insulation capabilities, high energy efficiency, and reduced maintenance requirements.
Market Share by Phase
As per the United States dry type transformer market analysis, three-phase transformers account for a substantial market share, due to their ability to provide a higher power load as compared to their single-phase counterparts. The growing expansion of data centres in the USA to meet the rising demand from customers also provides lucrative opportunities for the segment’s growth.
Furthermore, these transformers are lightweight, compact-sized, and easy to install, which makes them an attractive option for urban areas in the country.
Competitive Landscape
ABB Ltd., established in 1988 and headquartered in Zurich, Switzerland, is a global automation and robotics company. The company offers its products and services in the sectors of aluminium, automotive, building and infrastructure, cement, data centre, mining, and power generation, among others. It is also known for its low voltage dry type transformers that are available in the range of vented, non-ventilated, and enclosed.
Schneider Electric SE, founded in 1836, is a global automation and energy management company, headquartered in Rueil-Malmaison, France. Its product portfolio includes circuit breakers and switches, load banks, energy management software solutions, and industrial automation software. The company is also aiding its 1000 suppliers in cutting down carbon emissions by half by the year 2025.
Siemens AG is a multinational technology company, incorporated in 1847 and based in Munch, Germany. The company offers its technology in the sectors of infrastructure, healthcare, and transport, among others. The company is offering a range of eco-friendly dry-type transformers which are insulated with an epoxy quartz powder mixture instead of oil.
Other United States dry type transformer market players include HD Hyundai Electric Co., Ltd., Eaton Corporation Plc, Emerson Electric Co., Kirloskar Electric Co., Ltd., Hammond Power Solutions Inc., JST Power Equipment, Inc., and MGM Transformer Company, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Phase |
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| Breakup by Voltage |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Dry Type Transformer Market Overview
8.1 Key Industry Highlights
8.2 North America Dry Type Transformer Historical Market (2018-2023)
8.3 North America Dry Type Transformer Market Forecast (2024-2032)
8.4 North America Dry Type Transformer Market Share by Country
8.4.1 United States
8.4.2 Canada
9 United States Dry Type Transformer Market Overview
9.1 Key Industry Highlights
9.2 United States Dry Type Transformer Historical Market (2018-2023)
9.3 United States Dry Type Transformer Market Forecast (2024-2032)
10 United States Dry Type Transformer Market by Type
10.1 Power Transformer
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Distribution Transformer
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 United States Dry Type Transformer Market by Phase
11.1 Single-Phase
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Three-Phase
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United States Dry Type Transformer Market by Voltage
12.1 Low
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Medium
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 High
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 United States Dry Type Transformer Market by Region
13.1 New England
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mideast
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Great Lakes
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Plains
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Southeast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Southwest
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
13.7 Rocky Mountain
13.7.1 Historical Trend (2018-2023)
13.7.2 Forecast Trend (2024-2032)
13.8 Far West
13.8.1 Historical Trend (2018-2023)
13.8.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 ABB Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Schneider Electric SE
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Siemens AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 HD Hyundai Electric Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Eaton Corporation Plc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Emerson Electric Co.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Kirloskar Electric Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Hammond Power Solutions Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 JST Power Equipment, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 MGM Transformer Company
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Dry Type Transformer Market: Key Industry Highlights, 2018 and 2032
2. United States Dry Type Transformer Market: Key Industry Highlights, 2018 and 2032
3. United States Dry Type Transformer Historical Market: Breakup by Type (USD Billion), 2018-2023
4. United States Dry Type Transformer Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. United States Dry Type Transformer Historical Market: Breakup by Phase (USD Billion), 2018-2023
6. United States Dry Type Transformer Market Forecast: Breakup by Phase (USD Billion), 2024-2032
7. United States Dry Type Transformer Historical Market: Breakup by Voltage (USD Billion), 2018-2023
8. United States Dry Type Transformer Market Forecast: Breakup by Voltage (USD Billion), 2024-2032
9. United States Dry Type Transformer Historical Market: Breakup by Region (USD Billion), 2018-2023
10. United States Dry Type Transformer Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. United States Dry Type Transformer Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 2.28 billion.
The market is projected to grow at a CAGR of 7.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 4.35 billion by 2032.
The major market drivers are rising industrialisation, the growing popularity of environmentally friendly transformers, and infrastructure development.
The key trends of the market include the growing usage of dry type transformers due to their safety efficient features, the rising deployment of enclosed and non-ventilated dry type transformers in harsh environments, and increased integration of smart sensors in dry type transformers.
The major regions in the market are New England, the Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
Different types of transformers are power transformer and distribution transformer.
The key players in the market are ABB Ltd., Schneider Electric SE, Siemens AG, HD Hyundai Electric Co., Ltd., Eaton Corporation Plc, Emerson Electric Co., Kirloskar Electric Co., Ltd., Hammond Power Solutions Inc., JST Power Equipment, Inc., and MGM Transformer Company, among others.
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