Cast-resin Transformer Market Business Strategies And Insight Driven Transformation 2021-2030 ~ Research Reports

Wednesday 24 March 2021

Aakash Chaudhary March 24, 2021 No comments

Cast-resin transformers are power transformers that have windings encased in epoxy resin that makes the installation process easier, as they do not require cooling oil and they are dry.
Cast-resin transformers are also known as dry-type transformers.
These transformers are used in numerous applications and they can be installed both indoors & outdoors. They are designed in such a way that they can be used in outdoor applications, where weatherproofing is required, and mounted on a skid frame.
Use of cast-resin transformers can be attributed to their various benefits such as the minimal risk of fire, no requirement for cooling liquids, easier maintenance, low operating costs, and a layer of epoxy that protects it from dust and corrosion.
Cast-resin transformers are segmented by type (naturally-cooled, forced-air-cooled), phase (single-phase, three-phase), voltage (low voltage, medium voltage), application (hospitals, roadways, mines, nuclear plants, oil and gas plants, others), and region.

The industrial application segment is expected to be the fastest growing segment of the cast-resin transformer market during the forecast period due to the increasing demand for these transformers for electricity and machinery purposes from various end-use industries such as mining, oil & gas, nuclear power plants, hospitals, marine, and others.

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Some of the properties of cast-resin transformers such as the minimal risk of fire, no requirement for cooling liquids, easier maintenance, low operating costs, and a layer of epoxy that protects it from dust and corrosion also propels its use in various end-use industries, especially where fire safety is important, such as oil & gas, mining, nuclear power plants, and the marine industry.
The three-phase cast-resin transformer segment holds the second largest share of the cast-resin transformer market due to the extensive use of three-phase cast-resin transformers in various electricity applications.
Factors driving the growth of the cast-resin transformer market include increasing safety awareness, low installation and overall cost of the product, and advantages of cast-resin transformers over old-style oil-filled transformers. Low losses in the magnetic core and windings reduces operational cost. Materials used for the production of cast-resin transformers are hardly inflammable. Moreover, no cooling liquids are required. Cast-resin transformers are increasingly used where safety is crucial, such as hospitals, public premises, airports, subway lines, mines, oil rigs, nuclear power plants, and ships.

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In terms of region, the global cast-resin transformer market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific is anticipated to dominate the global cast-resin market throughout the forecast period, due to the high industrialization rate in the region and new electrification projects in industrial, commercial, and infrastructure sectors in the region.
Moreover, various manufacturers in China, India, Japan, Taiwan, and other countries of Asia Pacific are exporting the end product to various other countries worldwide.
North America is expected to hold the second largest share of the cast-resin transformer market during the forecast period since growth potential of renewable energy in the US is high and because of growing electricity demand in the US and Canada.

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The cast-resin transformer market in Europe and South America is expected to expand at a substantial rate during the forecast period. On the other hand, Middle East & Africa is estimated to witness slow growth rate in the market during the forecast period.

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