Cast Resin Dry Type Transformer Market Players Integrate IoT Connectivity to Reduce Maintenance Expenditure
Global Cast Resin Dry Type Transformer Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 11, 2022 /EINPresswire.com/ — The use of cast resin dry-type transformers enabled by the Internet of Things (IoT) is a key trend shaping the Cast Resin Dry Type Transformer Market prospects. The use of IoT connectivity ensures the identification of poor quality electrical connections with thermal monitoring, thereby extending the life of equipment and reducing maintenance expenses as well as downtime. For example, French digital energy and automation solutions company Schneider Electric offers dry-type cast-resin transformers with real-time visibility of equipment status for improved performance and long life. life. Real-time thermal monitoring of devices allows users to immediately detect any issues and take preventative action to avoid unplanned downtime.
An increase in the demand for electricity is expected to drive the market for dry cast resin transformers. Cast resin dry-type transformers are actively used to convert current voltage to required industrial specifications. They are used for a variety of electrical applications including stepping down the voltage of electric current for traditional electrical circuits to run low voltage appliances and stepping up the voltage of electric current in generators to to transport electricity over long distances. According to the cast resin dry type transformer market analysis, the growing 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 USD 3.36 billion in 2021 to USD 3.58 billion in 2022 at a compound annual growth rate (CAGR) of 6.55%. The growth of the market is mainly driven by businesses resuming operations and adapting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote work and business closures. activities that have resulted in operational difficulties. The global Cast Resin Dry Type Transformer market share is expected to reach $4.58 billion in 2026 with a CAGR of 6.36%.
Key players covered in the global Cast Resin Dry Type Transformers 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. zoo
The global Cast Resin Dry Type Transformer market research report by TBRC 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 in low voltage, medium voltage, by application in industrial, commercial, others.
Global Cast Resin Dry-Type Transformer 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) – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provides an overview of the Cast Resin Dry Type Transformer Market, Cast Resin Transformer Market Forecast Dry Type Cast Resin Dry Type Cast Resin Transformer Market size and growth of the Dry Type Cast Resin Transformer market overall, Dry Type Cast Resin Transformer market segments, geographies, market trends cast resin dry type transformers, cast resin dry type transformers market drivers, constraints, major competitor revenue, p profiles, and market shares.
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