The Business Research Company’s Cast Resin Dry Type Transformer Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, May 11, 2022 /EINPresswire.com/ — The use of Internet of Things (IoT) enabled cast resin dry type transformers is a key trend shaping the cast resin dry type transformer market outlook. The use of IoT connectivity ensures the identification of poor quality electrical connections with thermal monitoring, thus extending equipment life and reducing maintenance expenses as well as downtime. For instance, French energy and automation digital solutions company Schneider Electric offers dry-type cast resin transformers with real-time visibility of equipment health for enhanced performance and long service life. Real-time thermal monitoring of devices allows users to detect any issues immediately and take preventative actions to avoid unplanned downtime.
An increase in demand for electricity is expected to drive the cast resin dry type transformer market. Cast resin dry type transformers are actively used in converting the voltage of the current to the required industry specifications. They are used for a variety of electrical applications, including lowering the voltage of electric current for traditional power circuits in order to run low-voltage devices and raising the voltage of electric current present in generators in order to transport electricity over great distances. According to the cast resin dry type transformer market analysis, the increasing demand for electricity is expected to drive the market.
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The global cast resin dry type transformer market size is expected to grow from $3.36 billion in 2021 to $3.58 billion in 2022 at a compound annual growth rate (CAGR) of 6.55%. The growth in the market is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global cast resin dry type transformers market share is expected to reach $4.58 billion in 2026 at a CAGR of 6.36%.
Major players covered in the global cast resin dry type transformer industry are Kirloskar Electric Co., Ltd., Schneider Electric, Siemens AG, ABB, BHEL, Crompton Greaves Ltd., Eaton Corporation, Fuji Electric, General Electric, Hammond Power Solutions, Hitachi Ltd., Voltamp Transformers, WEG Group, Hyosung Heavy Industries, Legrand, PI, Cast-RESIN and Power Sp. z o.o.
TBRC’s global cast resin dry type transformer market research report is segmented by type into converter transformer, rectifier transformer, by cooling type into natural air cooling, forced air cooling, by phase into single phase, three phase, by voltage into low voltage, medium voltage, by application into industrial, commercial, others.
Cast Resin Dry Type Transformer Global Market Report 2022 – By Type (Converter Transformer, Rectifier Transformer), By Cooling Type (Natural Air Cooling, Forced Air Cooling), By Phase (Single Phase, Three Phase), By Voltage (Low Voltage, Medium Voltage), By Application (Industrial, Commercial, Others)– Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a cast resin dry type transformer market overview, cast resin dry type transformer market forecast cast resin dry type transformer market size and cast resin dry type transformer market growth for the whole market, cast resin dry type transformer market segments, geographies, cast resin dry type transformer market trends, cast resin dry type transformer market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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