Dry Type Transformer Market worth 5.38 Billion USD by 2020
The global dry type transformer market is expected to reach USD 5.38 Billion by 2020 from USD 4.16 Billion in 2015, at a CAGR of 5.3%. The dry type transformers market is driven by the increasing demand of energy, reduction of fire hazards, and need to adopt safe methods to distribute electricity for residential and commercial use. Besides, there is no fire protection requirement for dry type transformers, thereby, resulting it to be environmentally safe. However, high costs and lack of governmental investments towards grid expansion and stability may hinder the growth of this market.
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