May 23, 2022 08:00 ET | Source: Graphical Research Graphical Research
Pune, India, May 23, 2022 (GLOBE NEWSWIRE) --
According to a recent study from market research firm Graphical Research, The North America dry type transformer market is set to expand at an exponential pace between 2020 and 2026, thanks to the compliance-driven need for the revamping of the already installed electrical systems.
Transformers have been and will continue to remain fundamental for the functioning of electrical infrastructure. Unlike oil type transformers, dry type transformers do not require cooling since their windings are enclosed in epoxy resin, rendering them useful for indoor as well as outdoor applications.
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The following four trends have been fostering the North America dry type transformer industry size:
Emphasis on reduction of greenhouse gas emissions to promote deployment across US
Several regulatory policies and rules aiming at greenhouse gas emission reduction are in effect across Canada and the US. The governments of these nations have been promoting the utilization of dry type transformers with higher energy efficiency with a view to minimize carbon emissions. The implementation of the US Department of Energy (DOE) energy efficiency standards can lead to a reduction of around 264.7 million MT of carbon emissions that are equivalent to the yearly greenhouse gas emissions of nearly 51.75% million automobiles.
Moreover, the benefit of long-term cost savings that accompanies the adoption of superior efficiency dry type transformers can potentially be translated to lower cooling costs and considerably lower energy usage. The US amendment also predicts that from 2016, adherence to the rule can effectuate total cost reduction of about $12.9 billion to both residential and commercial consumers, triggering the North America dry type transformer market share over the upcoming years.
Market to benefit as renewable power generation gains traction
Despite the shift in demand for energy from commercial to residential sector, and from public to private transport facilities in the times of COVID-19, the focus on renewable energy is likely to return as the situation stabilizes. Dry type transformers are ideal solutions for renewable power applications such as solar power generation which necessitates power generation from 0% to 100% through a transformer on a day-to-day basis. As dry type transformers involve an insulation of an epoxy or a cast resin material instead of oil, they can efficiently handle the extreme temperature fluctuations, pushing the North America dry type transformer market growth forward.
Auto-transformer industry to exhibit considerable demand
The auto-transformer industry segment is projected to soar during the forthcoming times. The more effective transformation along with higher operational flexibility offered by dry type transformers as compared with available alternatives is pushing the demand for these components. Moreover, dry type transformers are cost-efficient and often come in a compact size. These are ideal parameters for deployment across the auto-transformer industry, supporting the North America dry type transformer market outlook.
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Shell type segment to seize considerable revenue share
Shell type transformers are utilized in numerous industrial equipment and components. These transformers have been garnering substantial popularity since they entail low costs, low consumption materials, and occupy minimal space. Furthermore, the cost of maintenance is relatively less when compared to the core type transformers.
Several manufacturers have been offering improved unit productivity in their range of products, boosting the overall North America market size. Additionally, the integration of smart technologies for operations such as monitoring can also be a growth factor influencing the North America dry type transformer market dynamics.
Enhancement of energy efficiency is a primary goal of several manufacturers, and consumers have been replacing their existing transformers with highly efficient, cost-saving dry type transformers across commercial, industrial, and residential sectors.
Asia Pacific Dry Type Transformer Market Size By Core (Closed, Shell, Berry), By Technology (Self-Air, Air-blast), By Insulation (Class R, Class H, Class F, Class B, Class A), By Product (Open Wound, Cast Resin, Vacuum Pressure Impregnated, Vacuum Pressure Encapsulated), By Phase (Single, Three), By Installation (Outdoor, Indoor), By Winding (Two-winding, Auto-transformer), By Rating (< 5 MVA, 5 MVA to 30 MVA, > 30 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Industries, Inner-City Substations, Indoor/Underground Substations, Renewable Generation), Industry Analysis Report, Country Outlook (China, Australia, India, Japan, South Korea), Price Trends, Competitive Market Share & Forecast, 2020 – 2026
https://www.graphicalresearch.com/industry-insights/1399/asia-pacific-dry-type-transformer-market
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