Market Size of United States Dry-Type Transformer Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 1.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Dry Type Transformer Market Analysis
The United States dry-type transformer market is expected to rise at a CAGR of more than 1.0% during the forecast period of 2020-2025. Factors such as modernization of transmission and distribution networks are expected to drive the market. However, decreasing electricity generation in the country is expected to restrain the growth of the market.
- The three-phase segment is expected to dominate the market due to its lower cost and higher usability relative to the other segment of the market.
- Increasing advancements in the dry-type transformers technology coupled with the use of Internet-of-things is expected to provide ample opportunity to the market players in the forecast period.
- The increase in investment being made in the smart grid is expected to positively aid the growth of the dry-type transformer market in the United States and may act as the primary driver of the market.
