Market research Future Dry Transformer Market Insights, Opportunity. | Page 3

Dry Transformer Market Research Report- Forecast to 2023
2 Market Overview
North America is the second largest region for dry transformers. High investment in transmission &
distribution network creating a wide scope for the electrical components in this region. U.S.is the major
market in the North America region. It is one of the leading countries in overall transformer shipments
around the world. As U.S economy is witnessing enormous growth due to phenomenal industrialization
and urbanization across the country, it is expected that the U.S. will hold one of the largest shares in the
global transformer market. Europe is another major market for the dry transformers. It is expected to
contribute significantly during the forecast period. In South America, Brazil, Argentina, are the major
markets for the dry type transformer. The Argentina government is in the process of commissioning large
projects, both in the transmission and generation sectors. To meet the rising demand, it has been estimated
that about 1,000 MW of new generation capacity is needed each year. All these major factors are expected
to boost the dry transformer in the forecast period.
As the presence of several well-established and small players, the global market of dry transformer
appears to be highly competitive. Well established players incorporate acquisition, collaboration,
partnership, expansion, and product launch to gain competitive advantage in the market and to maintain
their market position. These key players compete on pricing and services. Vendors in the market strive to
deliver the best quality products and services based on innovative technologies, and best practices. These
key players make a substantial investment for R&D and to secure a guaranteed resource for the
customers.
Hence, Global Dry Transformer market is Expected to Grow at a CAGR of 5.14% during the
Forecast Period
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