The global dry-type transformer market is expected to showcase considerable growth during the forecast period (2016 – 2022) on account of growing energy demands, reduction in fire hazards and increasing requirement for adopting safe methods to distribute electricity for residential and commercial applications.

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Dry-type transformers find their application across a wide range of end-user segments including multi-storey buildings, steel factories, underground tunnels, hospitals, schools and chemical industries, ensuring safety from fire.

In terms of technology, cast resin emanated the maximum demand in global dry-type transformer market, in terms of value, in 2015, while the VPI segment is forecasted to exhi bit the fastest growth rate in the overall market, during the forecast period.

Some of the major factors driving the growth of the global dry-type transformers include growing manufacturing, industrial and natural resource exploration activities related to oil production, chemicals and marine applications across the globe. Additionally, the flourishing oil and gas and chemical industries that require a hazard-free operational environment are poised to offer growth opportunities for global dry-type transformers market, during the forecast period.

Geographically, Asia-Pacific is expected to be the largest dry-type transformers market, in terms of revenue, during the forecast period, followed by North America and Europe. The major factors fueling the growth of the Asia-Pacific market are the rapidly increasing investments in the transmission and distribution networks in order to fulfill the rising energy demands.

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The key players operating in the global dry type transformers market are ABB Ltd., Eaton Corporation, Siemens AG, Crompton Greaves, Hammond Power Solutions, Voltamp Transformers, Schneider Electric, Tbea Transformer Industrial Group and General Electrical.