The global dry type transformer market was valued at $5.4 billion in 2019, and is projected to reach $7.3 billion by 2027, growing at a CAGR of 6.1% from 2020 to 2027.The report provides an in-depth analysis of the current and emerging market trends and dynamics in the global dry type transformer market.It offers detailed quantitative analysis of the current market and estimations through 2019-2027, which assists in identifying the prevailing market opportunities.Comprehensive analysis of all regions helps determine the prevailing and future opportunities in these regions.Comprehensive analysis of factors that drive and restrict the growth of the global dry type transformer market is provided. For instance, worldwide high energy demand and need for upgrade of existing transmission infrastructure will drive the global dry type transformer demand; however, high initial cost and availability of substitutes are expected to be a major restraint for market growth.Exhaustive analysis of the global dry type transformer market by type, technology, phase, voltage, and end use helps understand the ratings of dry type transformer that are currently being used along with the variants that would gain prominence in the future.Impact of COVID-19
Most of the industries have become non-operational during this pandemic event. In terms of end-use industries, the industrial sector accounts for the majority demand for dry type transformers; therefore, the COVID-19 situation has directly affected the ongoing demand for dry type transformers.Renewable energy generation is the largest consumer for dry type transformer in the industrial segment, which is also affected to a great extent during the pandemic.Complete or partial lockdown situation globally has led to supply chain disruption, leading to delays in project construction, having a direct impact on the commissioning of renewable electricity projects, biofuel facilities, and renewable heat investmentsIn the global solar industry, more than 40% of the supply chain is reliant on supply from China and other Southeast Asian countriesChina is the known source of this pandemic and the country is the most affected one in terms of material supply and material transport due to the COVID-19.The above factors have impacted the growth of the global dry type transformer market.Key Topics Covered:Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
The Link Lonk
September 07, 2020 at 04:48PM
https://www.globenewswire.com/news-release/2020/09/07/2089479/0/en/Global-Dry-Type-Transformer-Market-2020-to-2027-by-Type-Technology-Phase-Voltage-and-End-use.html
Global Dry Type Transformer Market (2020 to 2027) - by Type, Technology, Phase, Voltage and End-use - GlobeNewswire
https://news.google.com/search?q=dry&hl=en-US&gl=US&ceid=US:en
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