Cast-resin Transformer Market 2020-2030: Demand, Trend, Innovations, Applications and Growth
Cast-resin Transformers: Introduction
- Dry-type transformers, also known as cast-resin transformers, are power transformers that have windings encased in epoxy resin. These encased windings make the installation process easier, as they are dry and they do not require cooling oil.
- A cast-resin transformer is not required to be kept in a fire-proof vault. The layer of epoxy protects it from dust and corrosion. These transformers are used in a wide variety of applications and they can be installed indoors or outdoors.
- Cast-resin transformer are commonly used in industrial, utility, and commercial applications. Transformer products provided by manufacturers are weather protected with the help of NEMA 3R outdoor enclosures. They are designed in such a way that they can be used outdoor applications, where weatherproofing is required, and mounted onto a skid frame.
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Various Benefits Offered by Cast-resin Transformers to Drive Global Market
- Advantages of cast-resin transformers over the old-style oil-filled transformers are quite apparent. One of these benefits is minimal fire risk. Materials used for production of cast-resin transformers are hardly inflammable and they can be described as self-extinguishing. Hence, there exists no need to use any special fire protection coatings for cast-resin transformers. Furthermore, in case of fire, the emission of toxic gases and opaque fumes is very low.
- These advantages make cast-resin transformers a perfect choice for installation at places where safety is crucial, such as hospitals, public premises, airports, subway lines, mines, oil rigs, nuclear power plants, and ships
- No cooling liquids are required, as cast-resin transformers need only air for cooling. Hence, they are nearly maintenance free, whereas a liquid-cooled transformer requires much more attention. This makes cast-resin transformers eco-friendly, as no liquid coolants of whichever chemical composition are released into the environment.
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Easy Maintenance and Low Operating Costs to Offer Lucrative Opportunities to Global Market
- Cast-resin insulation guarantees secure performance of a transformer, without any need for complicated and costly maintenance. Preventive maintenance of cast-resin transformers can be performed with a simple visual check.
- Low losses in the magnetic core and windings reduce operational costs. Thus, low installation and overall costs of the product are expected to create immense opportunities for the market during the forecast period. A transformer is a key component of an electricity supply network. Hence, ease and quickness of installation of a transformer should be kept in mind.
- A cast-resin transformer can be easily installed, as no blast walls are required. Consequently, the planning of installation is simplified and installation costs are saved.
Asia Pacific to Lead Global Market
- In terms of region, the global cast-resin transformer market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- The cast-resin transformer market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period. Various manufactures in China, India and other countries of Asia Pacific are exporting the end products to various other countries worldwide.
- This growth of these product manufacturing can be attributed to various benefits offered by these transformers such as minimal risk of fire, no requirement for cooling liquids, easier maintenance, and low operating costs.
- The cast-resin transformer market in North America and Europe is likely to witness stagnant growth between 2019 and 2027. The market in Latin America and Middle East & Africa is estimated to witness sluggish growth during the forecast period.
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Key Players Operating in Global Market
The global cast-resin transformer market was highly fragmented in 2018. Prominent players operating in the global market are focusing on technological advancements and expansions to meet the rising demand for cast-resin transformers. Moreover, manufacturers are entering into partnerships for the development of innovative products. Key players operating in the global cast-resin transformer market are:
- GE
- Eaton Corporation
- ABB
- Schneider Electric
- Fuji Electric
- Siemens AG
- Hammond Power Solutions
- Nexans Maroc
- Voltamp Transformers
- Legrand
- Betelco
- Kirloskar Electric
- PI. CAST-RESIN
- ELSCO
Global Cast-resin Transformer Market: Research Scope
Global Cast-resin Transformer Market, by Type
- AN (Naturally-cooled) Type
- AF (Forced-air-cooled) Type
Global Cast-resin Transformer Market, by Technology
- Cast Resin
- Vacuum Pressure Impregnated
Global Cast-resin Transformer Market, by Application
- Hospitals
- Roadways
- Mines
- Nuclear Plants
- Others
Global Cast-resin Transformer Market, by Phase
- Three-phase
- Single-phase
Global Cast-resin Transformer Market, by Voltage
- Medium-voltage
- Low-voltage
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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