Dry Type Transformer Market
Dry Type Transformer Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology, Phase, Voltage and Application: Global Opportunity and Industry Forecast (2026-2032)
Report ID:
1132
Industry:
Energy & Power
Published on:
Jan 2026
Dry Type Transformer Market Summary
Global Dry Type Transformer Market was a value of USD 8.50 Bn in 2025 and expected it to hit USD 15.20 Bn by 2032, with a CAGR of 8.66% during (2026-2032).
Dry Type Transformer Industry Trends and Analytical Insights -
Europe Dry Type Transformer Market was the largest revenue generating region market in year 2025, with market share accounted for 39.4%.
In 2025, By Technology, Cast Resin dominated the Dry Type Transformer Market, accounted for 62.6% market shares.
Leading Key players for Dry Type Transformer Market in 2025 was ABB Ltd., Siemens AG / Siemens Energy, Schneider Electric SE, Eaton Corporation plc and Hitachi Energy Ltd.
Market Size & Forecast
Market Size 2025: USD 8.50 Billion
Projected Market Size 2032: USD 15.20 Billion
CAGR (2026-2032): 8.66%
Europe: Dominated region of the market in 2025
Dry Type Transformer Market Overview
By year 2025 there was evidence of significant growth for the Dry Type Transformer Market due to the increased need for enhanced safety and fire protection as well as accelerated development of urban infrastructure and increased levels of electrification across the industrial and commercial sectors. Medium voltage transformers with voltage ratings between 1 – 36 kV comprised approximately 55% of the total dry type transformer installations and were commonly used in many of the types of structures typically found in large cities. Three-phase transformers comprised nearly 70% of total dry type transformer demand because they provide a reliable and efficient means for distributed electric power throughout the industrial sector. From a technology perspective, cast resin transformers was dominated the dry type transformer industry and represented a substantial proportion (approximately 60%) of the installed dry type transformer base by virtue of their superior fire resistance, robust mechanical characteristics and suitability for installation indoors.
The growth of the Dry Type Transformer industry was driven by manufacturing plants, process industry sectors and captive power generation sites. The Commercial Segment accounted around the industrial commercialization and industry hotspot for around 35% with hospitals, airports, commercial buildings and multi-storey residential buildings represented the highest priority when addressed the requirements of fire protection and maintenance free assets. The combined Utilities and Other Applications (Renewable Energy & Transportation), make up a further 20% of total installations. The growing trend towards utilising indoor substations and environmentally friendly electrical equipment continues promoting the development of both emerging and developed nations.
As regional growth point of view Asia-Pacific Dry Type Transformer Market marked as the first position in the global market. The increase in urbanization, increased number of new and upgraded grids along with new metro rail systems and the integration of renewable energy sources were supported the rapid increase in demand in China, India, and Southeast Asia. Europe Dry Type Transformer Market was market as the the second-largest global market driven primarily by strict fire safety standards, the replacement of oil-filled transformers for the new generation of energy-efficient buildings, and global energy- efficient building regulations. North America Dry Type Transformer Market driven primarily by data-centre expansion and development of commercial buildings and the continued modernization of the electrical infrastructure as it ages. Middle East & Africa Dry Type Transformer Market and Latin America Dry Type Transformer Market, driven by growing infrastructure and the expansion of industrial capacity in both regions.
Dry Type Transformer Market Dynamic’s
The Dry Type Transformer Industry experienced substantial growth in 2025 due to an increased focus on safety regulation and growing interest in installing fire-resistant electrical equipment in metropolitan cities. Safety regulations increased the regulatory compliance criteria for all new commercial construction projects by resulting in an increase of 30+% of all new commercial construction projects was equipped with dry type transformers instead of oil-filled transformers (i.e., conversions). A significant portion of this increase was directly attributable to the rapid growth of data centers (over 15 % compound annual growth rate), which was contributed significantly in terms of the demand for low-risk, indoor power solutions. Furthermore, approximately 25% of new demand for dry type transformers was driven by renewable energy projects, as a result of electrification across both grid-tied solar and wind renewable energy generation projects.
The Dry Type Transformer Industry had many restrictions due to less thermal efficiency and had a greater upfront cost than the oil-filled systems. Typical price of dry type transformers on average was 20 to 30% higher than the comparable oil-filled units thus limited their implementation in rural and cost-sensitive utility projects. In addition, dry type transformers had limited overload capacity therefore limiting their usage for heavy-duty applications. This limited about 15% of the available demand for industrial usage. Also, the volatility in the supply chain as well as the variation in price of raw materials (especially copper and resin) increased the cost of manufacturing dry type transformers by more than 10% putting margin pressure on the manufacturers and delaying large-scale implementation of projects.
Rapid growth of smart infrastructure and the increasing integration of renewable energy sources created a significant opportunity for Dry Type Transformer Market in 2025. Smart construction projects such as smart buildings and metro rail projects accounted for more than 20% of new demand. Specialized environments like these prioritize utilizing fire-safe products and minimizing the space used for mechanical systems. As a result, the transition to green building has accounted nearly 35% of new commercial projects to include exclusively oil-free transformers. In addition, the expansion of electrical grids in emerging markets has generated significant opportunities in medium voltage transformer segments. These opportunities was subsequently contributed to ongoing volume growth and technology differentiation by providing manufacturers with access to new markets and increased demand for their products.
Expert Insight:
The Dry Type Transformer Industry is at a structural inflection point, transitioning from a niche, safety-driven solution to a mainstream power distribution technology across urban and industrial ecosystems. Demand in 2025 clearly reflects a shift toward fire-safe, low-maintenance, and environmentally compliant electrical infrastructure, particularly in medium-voltage and cast resin segments. While cost sensitivity and thermal limitations remain short-term challenges, ongoing grid modernization, data center proliferation, and green building mandates are steadily redefining procurement priorities. Over the forecast period, competitive advantage will increasingly depend on technology differentiation, localized manufacturing, and integrated digital solutions rather than pricing alone.
Dry Type Transformer Market Segment Analysis
The Dry Type Transformer Market is segmented into Technology, Phase, Voltage and Application.
By Technology
Based on Technology segment the Dry Technology Transformer Industry is segmented into Cast Resin, Vacuum Pressure Impregnated (VPI) and others. Cast Resin has the largest market share of Dry Type Transformer Market, accounted for 62.6% in 2025. This dominance was driven by the majority of installations utilizing cast resin transformers were chosen based on their fire resistance, moisture resistance and their mechanical qualities that grant them suitability for use within buildings such as offices supports on these types of structures,. Cast resin transformers require substantially less maintenance than air insulated transformers (e.g., glass insulated transformer designs) during periods of high relative humidity (e.g., metropolitan areas). Additionally, due to the increased reliability of cast resin transformer systems as compared with traditional "safety-critical" air insulated systems (i.e., VPI), this increased reliability had instrumental in the adoption rates of cast resin and other types of transformers in metropolitan and high-risk installations.
By Voltage
Based on Voltage Segment, the Dry Technology Transformer Industry is segmented into Low Voltage (< 1 kV), Medium Voltage (1–36 kV), High Voltage and (Above 36 kV). Within the Voltage segment, Medium Voltage (1–36 kV) appears the dominated sub segment have market share, accounted for 57.9% in 2025 for Dry Type Transformer Market. This dominance driven by multitude of applications of MV power distribution systems throughout the following venues, industrial plants, commercial buildings, renewable energy installations and urban distribution networks where MV power distribution is a key enabler. Furthermore, as the reliability of MV substations increases along with compliance with safety standards, and due to an increase in capital expenditure toward modernizing power grids and investing in other power system related projects, MV transformers are now considered a more favorable alternative than LV or HV transformer options.
Dry Type Transformer Market Region Analysis
Europe Dry Type Transformer Market was the dominant market in 2025 with a market share accounted for 39.4%. This dominance was driven by a successful framework of policies, aggressive hydrogen targets, and significant public and private investments into the development of Green Hydrogen Infrastructure. The largest existing markets such as Germany Dry Type Transformer Market, Netherlands Dry Type Transformer Market, France Dry Type Transformer Market and Nordic Countries had driven capacity additions through several large (greater than 50-100 MW) projects funded through Auctioning hydrogen and other cross-border infrastructure initiatives. The region’s expertise in engineering, advanced manufacturing capabilities, and regulatory alignment, as well as support from government incentives, were all contributed factors to the acceptance and global use of Green Hydrogen at the commercial scales through industrial and energy value chain in dry type transformer industry.
The Asia-Pacific Dry Type Transformer Industry accounted for 32% of the world's total installed power generation capacity, mainly attributable to China Dry Type Transformer Market, Japan Dry Type Transformer Market and South Korea Dry Type Transformer Market. China alone produced over half the total supply of these kinds of systems (i.e. electrolysis units), due to the fact that were relatively inexpensive (compared with fossil-fuel-generated power). The North American Dry Type Transformer Market has accounted for 20% of the total market share and was primarily driven by financial incentives for the production of clean hydrogen, and projects aimed at decarbonizing refineries and developed new hydrogen hubs. North America was mostly focused on PEM-based systems because they were expected to be the most suitable technology for supplying both mobile and stationary applications. Together, the Middle East, Australia and Latin America accounted for 10% of the total market share but were generating a lot of interest in developing new opportunities related to exports of green hydrogen and ammonia in the future, especially with respect to large energy companies and strategic partnerships that seek to develop new business models before traditional energy companies enter these markets.
Dry Type Transformer Market Competitive Analysis
ABB Ltd., Siemens AG/Siemens Energy, Schneider Electric SE, Eaton Corporation plc, and Hitachi Energy Ltd., all played a dominant role in the market in 2025. The market leaders were able to leverage their ability to have a global presence with strong brand equity, have extensive product portfolio offerings, and have innovative research & development capabilities, which enabled them to capture large demand for medium and high voltage, industrial projects, and large-scale commercial infrastructures. In addition to providing these capabilities, these established market leaders were also able to provide customized solutions, digital monitoring services and turn-key solutions that assisted in maintaining their dominant position.
Regional specialization, cost-competitive offerings, and niche product types were utilized by many players such as Hammond Power Solutions, TBEA, GE Vernova, Toshiba, Fuji Electric, Kirloskar Electric, Voltamp, BHEL, Alfanar, TMC Transformers, DAIHEN, WEG, Hyundai Electric, Gujarat Transformers, and JSHP Transformer to successfully compete with their competitors. Their primary focus is on medium voltage cast resin and VPI (vacuum pressure impregnated) technology for various applications in the industrial, commercial, and renewable energy markets while earning incremental gains from new and emerging global markets and increasing the diversity of their customer base.
Dry Type Technology Transformer Market Scope:
Dry Type Transformer Market Key Players –
Siemens AG / Siemens Energy
Eaton Corporation plc
Hitachi Energy Ltd.
TBEA Co., Ltd.
General Electric (GE Vernova)
Fuji Electric Co., Ltd.
Kirloskar Electric Company Ltd.
Voltamp Transformers Ltd.
Bharat Heavy Electricals Ltd. (BHEL)
Alfanar Group
TMC Transformers S.p.A.
WEG Industries
Hyundai Electric & Energy Systems
Gujarat Transformers Pvt. Ltd.
DAIHEN Corporation
JSHP Transformer
Frequently Ask Questions –
1) Who are the major Key players of Dry Type Transformer Market?
Ans - The Major Key players of Dry Type Transformer Market are ABB Ltd., Siemens AG / Siemens Energy, Schneider Electric SE, Eaton Corporation plc and Hitachi Energy Ltd.
2) Which Region accounted highest share of the Dry Type Transformer Market in 2025?
Ans – Europe region accounted highest share of the Dry Type Transformer Market.
3) What was the market size of Dry Type Transformer Market in 2025?
Ans – In 2025, market size of the Dry Type Transformer Market is USD 8.50 Billion.
4) Which Segment is expected to lead the market during forecast period?
Ans – Technology Segment was the top segment holds the largest share in Dry Type Transformer Market during forecast period.
5) What will be the market size of Dry Type Transformer Market in 2032?
Ans- The market size of Dry Type Transformer Market in 2030 will be USD 15.20 Billion.