India Dry Type Transformer Market to be dominated by Cast Resin Technology until 2028
Increasing energy demand and
high demand for dry type transformers for indoor applications such as inside residential &
commercial buildings are expected to boost the growth of India Dry Type Transformer Market
during the forecast period of 2024-2028.
According to TechSci Research
report, “India Dry Type Transformer Market – By Region, Competition Forecast &
Opportunities, 2018-2028,” the
India dry type transformer market is expected to see a considerable growth
during the forecast period on account of rising energy demand, a decline in
fire risks, and a growing desire for adopting safe electricity distribution
techniques for both domestic and commercial
applications. During the projected
period, the market for dry-type transformers is anticipated to grow due to the
safety benefits and environmental friendliness of these transformers over
oil-filled ones. Additionally, dry type transformers are favored over
oil-filled transformers since they guarantee safety from fire risk, are
lightweight, take up less space, and are less expensive to install and
maintain.
Moreover, some of the major other
factors driving the growth of the India dry type transformers include growing
manufacturing, industrial and natural resource exploration activities related
to oil production, chemicals and marine applications across the country. Additionally,
the flourishing oil and gas and chemical industries that require a hazard-free
operational environment are poised to offer growth opportunities for India dry
type transformers market, during the forecast period.
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India
Dry Type Transformer Market is segmented into core, technology, classes of
insulation, type, phase configuration, installation, winding, rating,
application, mounting, region, and competitive landscape.
On the
basis of technology, cast resin is expected to dominate the India dry type
transformer market. This is mainly attributed to the high adoption of cast
resin for several applications due to benefits like fire resistance, low
maintenance, etc. Moreover, owing to its widespread adoption in areas such as
general & public buildings, industrial plants, wind turbine plants, solar
farms, LNG vessels; commercial spaces such as airports & railways and
special transformer applications such as furnace transformer, electric welding
equipment, and UPS systems.
On the basis of
phase configuration, single phase configuration is expected to dominate the India
dry type transformer market due to their extensive applications in power supply
for homes and businesses to run motors. Moreover, continuous technological
advancements in single phase dry type transformers by power management
companies is also anticipated to bolster the sub-segment’s growth during the
forecast period.
On the basis of
region, west India is expected to dominate in the India dry type transformer
market because the power infrastructure in the western region has seen a
considerable transformation recently, which has improved the industry dynamics.
The region's need for power is still being driven by persistent economic
expansion. The Indian government has shifted its priorities to emphasize
"power for all," which has significantly sped up capacity addition.
As a result, there is concern about the level of competition on the supply and
market sides, notably in the areas of fuel, money, people, and logistics.
Major
market players operating in the India Dry Type Transformer Market are:
- ABB India Ltd
- Siemens India Limited
- Alstom T&D India
- Kirloskar Electric
Company Limited
- Gujarat Transformers
Pvt. Ltd
- Urja Techniques (India)
Pvt. Ltd
- Uttam Bharat
- Kotsons Pvt. Ltd
- ABC Transformers
- Servomax Limited
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“The market is anticipated to
be driven throughout the projected period by rising electricity consumption and
the incorporation of renewable power generation. Nevertheless, the benefits
that oil-cooled transformers have over dry-type transformers been anticipated
to moderate the market's expansion throughout the anticipated time frame.
Additionally, the Indian government is putting more of an emphasis on utilizing
renewable energy sources in their total electricity production, which directly
raises the demand for dry type transformers throughout the nation.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India Dry Type
Transformer Market By Core (Closed, Shell, Berry), By Technology (Cast Resin
and Vacuum Pressure Impregnated), By Classes of Insulation (Class R, Class H,
Class F, Class B, Class A), By Type (Open Wound, Vacuum Pressure Impregnated,
Vacuum Pressure Encapsulated), By Phase Configuration (Single, Three), By
Installation (Outdoor, Indoor), By Winding (Copper Winding and Aluminum
Winding), By Rating (< 5 MVA, 5 MVA to 30 MVA, > 30 MVA), By Mounting
(Pad and Pole), By Application (Industries, Inner-city Substations,
Indoor/Underground Substations, Renewable Generation), By Region, Competition
Forecast & Opportunities, 2018-2028,” has evaluated the future growth
potential of India Dry Type Transformer Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in India Dry Type Transformer Market.
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