PUNE, India, February 3, 2017 /PRNewswire/ --
The latest trend gaining momentum in the Dry - Type Transformers market is increasing popularity of dry-type transformers. In terms of geography, APAC accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years.
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The analysts forecast global dry-type transformers market to grow at a CAGR of 5.31% during the period 2017-2021. The dry-type transformers market report considers the revenue generated from the sales of dry-type transformers. Dry-type transformers due to the absence of inflammable oils, are preferred over oil-filled transformers, to avoid risks of fire. Typical places which have high risks of fire include commercial areas like airports and malls and residential complexes.
One of the major drivers for dry-type transformers market is modernization of existing transformers. The increase in installation activities regarding new transformers and the replacement of old transformers with new ones are fueling the growth of the global dry-type transformers market.
Key players in the global dry-type transformers market: ABB, Crompton Greaves, GE, Schneider Electric, and Siemens. Other Prominent Vendors in the market are: DuPont, Eaton, ELANTAS, Fuji Electric, Hammond Power Solution, Jinpan International, Kirloskar Electric, KOTSONS, MGM Transformer Company, Prima Transformers, Raychem RPG, Synergy Transformers, TBEA Transformer Industrial, Temco, Vijay Power Control Systems, Virginia Transformer, and Voltamp Transformers.
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The global dry-type transformers market is moderately fragmented and highly competitive due to the presence of a large number of regional and international vendors across the globe. Also, a large number of new entrants find it difficult to enter the market due to the high capital expenditure that is required to enter the market. Moreover, the new entrants find it difficult to compete against the international vendors in terms of quality, design, product features, turnaround time, services, and maintenance of customer relationships.
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