Global dry type transformer market is expected to reach $12.05 B by 2033, growing at a CAGR of 6.35 % during the forecast period 2025–2033.
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According to an AstuteAnalytica India Pvt. Ltd.’s report, the global dry type transformer market was valued at $6.92 B in 2024 and is expected to reach $12.05 B by 2033, growing at a CAGR of 6.35 % during the forecast period 2025–2033.
The global demand for dry-type transformers is rising rapidly in 2024, driven by stricter fire safety regulations, sustainability goals, and higher reliability standards in power infrastructure. Regulatory shifts now require greater dielectric strength, lower partial discharge levels, and improved thermal resilience—areas where dry-type transformers excel. Growth in urban infrastructure, especially smart cities and metro systems, is also fueling demand. Additionally, the global push for industrial decarbonization and electrification is creating new performance and safety requirements. The renewable energy sector further boosts market momentum, as solar, wind, and storage projects increasingly rely on dry-type transformers for their environmental compatibility and ability to handle variable loads.
Key market players: Eaton Corporation plc, ABB Ltd, Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Schneider Electric, Hitachi Ltd, ELSCO Transformers, Wilson Power Solutions, etc.
Source: Yahoo Finance
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