Dry Type Transformer Market Size, Share & Trends Analysis Report By Voltage (Low, Medium, High), By End-use (Industrial, Commercial, Utilities), By Region (North America, Europe, APAC, Latin America, Middle East & Africa), And Segment Forecasts, 2025 - 2030

Dry Type Transformer Market Summary

Furthermore, stringent energy efficiency regulations and standards imposed by governments and environmental agencies encourage the adoption of energy-efficient dry type transformers over oil-filled transformers. Thereby, boosting market growth.Dry type transformers are preferred due to their reduced fire risk and environmental friendliness compared to oil-filled transformers, driving adoption in sensitive environments such as hospitals, schools, and residential buildings. In addition to this, increasing deployment of renewable energy sources such as wind and solar power necessitates efficient transformers like dry type transformers to facilitate grid integration and manage variable power output.

Furthermore, dry type transformers typically have lower power density than oil-filled This product is considered to be more expensive when compared to oil-filled transformers. transformers, which may limit their application in certain high-power industrial settings where space constraints are critical. In addition, this product may face performance challenges in extremely harsh environmental conditions or high humidity areas, impacting its reliability and lifespan. Such factors may negatively affect product growth.

Emerging economies are witnessing rapid industrial growth, requiring infrastructure development and reliable power distribution networks, which propel the demand for this product. Innovations in transformer design in terms of improved cooling systems and materials enhance the efficiency and reliability of dry type transformers, making them more attractive to end-users. Furthermore, continuous research and development activities aimed at improving the efficiency, reliability, and performance of this product are expected to find opportunities in new applications and market segments.

Voltage Insights

Medium voltage accounted for the largest revenue share of 46.6% of dry type transformer market in 2024. They are crucial for stepping down voltage from the utility grid to levels suitable for distribution within industrial and commercial facilities. Furthermore, they are extensively used in industries such as mining, manufacturing, and oil & gas for powering heavy machinery, motors, and other high-power equipment. In addition to this, medium voltage products offer environmental benefits such as reduced risk of oil spills and leaks, making them suitable for sensitive areas and indoor installations. This segment is segmented into low, medium, and high voltage.

Medium voltage dry-type transformers are expected to grow fastest at a CAGR of 7.6% over the forecast period. This is supported by the expansion of smart grid infrastructure and increased demand in the utility and industrial sectors. Operating between 1 kV and 35 kV, these transformers are commonly used in settings that require reliable power distribution at intermediate voltage levels. Typical applications include commercial buildings, industrial facilities, renewable energy systems, and public infrastructure, where safety, efficiency, and compact installation are key considerations.

These transformers are especially valued for their fire-resistant and environmentally safe design, making them suitable for indoor and high-traffic environments. Unlike oil-filled units, medium voltage dry-type transformers do not use flammable insulating fluids, reducing fire risks and requiring extensive containment measures. Their low maintenance needs and long service life contribute to their cost-effectiveness, positioning them as a practical choice for modern electrical distribution networks aiming for sustainability and resilience.

End Use Insights

Industrial applications accounted for the largest revenue share of 41.4% in 2024 and are anticipated to witness strong growth, driven by rising energy demand, automation, and expansion across sectors such as manufacturing, mining, and oil and gas. Dry-type transformers are particularly suitable for harsh industrial environments due to their robust construction, resistance to moisture and contaminants, and minimal maintenance needs. They ensure a reliable power supply for critical operations while meeting safety and efficiency standards. This segment is further divided into industrial, commercial, and utilities.

Industries prefer dry-type transformers for indoor and confined installations where fire safety and environmental compliance are crucial. Their non-flammable insulation and lack of oil eliminate the risks associated with leaks and combustion, making them ideal for use in factories, processing plants, and hazardous locations. As industrial facilities increasingly modernize and adopt energy-efficient infrastructure, dry-type transformers emerge as a preferred solution for delivering consistent, safe, and sustainable electrical power.

Utility applications are anticipated to grow significantly over the forecast period. This is driven by the increasing need for safe, reliable, and low-maintenance power distribution solutions. Dry-type transformers, which use air instead of oil for cooling, are well-suited for urban substations and environmentally sensitive areas, where fire safety and space constraints are critical concerns. Their non-flammable design reduces the risk of fire hazards and simplifies compliance with strict safety regulations, making them ideal for modern utility networks. As grid infrastructure continues to evolve with the integration of renewable energy and smart technologies, dry-type transformers offer a durable and efficient solution for utilities focused on long-term operational reliability and environmental stewardship.

Regional Insights

North America dry type transformer market accounted for a revenue share of 21% in 2024. The demand is driven by environmental considerations, stringent safety regulations, and infrastructure modernization efforts. The region's focus on lowering fire hazards and enhancing safety in densely populated urban areas makes dry type transformers, with their non-flammable and low-maintenance characteristics, particularly attractive. Moreover, the ongoing upgrades to aging power infrastructure and the push towards integrating renewable energy sources are expected to drive the requirement for reliable and efficient transformers that can meet modern performance and safety standards.

U.S. Dry Type Transformer Market Trends

The dry type transformers market in the U.S. is growing at a CAGR of 5.1% over the forecast period. The rising focus on improving grid reliability, reducing fire risks, and meeting environmental regulations is boosting the demand for dry type transformers in the country. The rising investments in infrastructure projects, including the modernization of power distribution systems, support renewable energy integration and enhance resilience. Dry type transformers operate safely in enclosed spaces, and their lower maintenance requirements are well associated with these objectives, making them an ideal choice for new installations and upgrades in both urban and industrial settings.

Asia Pacific Dry Type Transformer Market Trends

The dry type transformer market in Asia Pacific accounted for the largest revenue share of 51.7% in 2024. The demand is driven by rapid industrialization, urbanization, and infrastructure development. Developing countries like China, India, and Japan are increasingly expanding their industrial and urban infrastructure, which is likely to increase the need for reliable, safe, and efficient power distribution solutions. Dry type transformers are used for their ability to handle the demands of growing cities and industrial areas while offering enhanced safety and lower maintenance needs.

Europe Dry Type Transformer Market Trends

Europe dry type transformers market is growing at a CAGR of 5.4% from 2025-2030. The market growth is attributed to stringent environmental regulations by the government and the push towards sustainability. European countries are concentrating on reducing greenhouse gas emissions and improving energy efficiency, which is associated with the benefits offered by products, such as lower environmental impact and enhanced safety. The ongoing renovation of aging infrastructure and the expansion of smart grid technologies are also likely to contribute to the augmented adoption of dry type transformers, as they are well-suited for urban and industrial applications that require high reliability and minimal maintenance.

Key Dry Type Transformer Company Insights

Some key players operating in the market are ABB and Siemens Energy:

• ABB Ltd. is Switzerland based leader in automation and electrification technology. The company provides a wide range of products under metallurgy products, electric drivetrains, motors & generators, industrial software, robotics, PLC automation, power converters and inverters, drives, control tool solutions, and low voltage products & systems. It offers these products for numerous industries, including oil & gas, automotive, cement, chemicals, mining, power generation, and pulp & paper products.

• Siemens Energy is a leading energy technology provider for a wide range of industries, including oil & gas, power & heat generation, power transmission, marine, data centers, pulp & paper. Its product portfolio includes hybrid power plants operated with hydrogen, conventional and renewable energy technology, such as gas and steam turbines, and power generators and transformers. The company has approximately 99,000 employees who are working in more than 90 countries across the world.

IDEAL ELECTRIC POWER CO. and Ansaldo Energia S.p.A. are some emerging participants in the market.

• Hammond Power Solutions Inc. is a North American manufacturer of custom and standard transformers for various industries including renewable energy, drive & automation, energy distribution, infrastructure, irrigation, and industrial. Its product portfolio includes converters, distribution, furnace, multi-pulse, power, regulating, pad-mounted, and specialty transformers. Furthermore, this company operates around 9 warehouses across the U.S. and Canada.

• Gujarat Transformers Private Limited is a manufacturer of various types of transformers, including distribution, power, earthing, high frequency, variable frequency drive, converter duty, and air cooled, among others. Its product portfolio includes distribution, power, furnace, solar inverter duty, dry type resin dipped, cast resin dry type, and dry type with on-load tap charger transformers.

Recent Developments

• In April 2025, Eaton inaugurated a state-of-the-art transformer manufacturing facility in Hai'an, Jiangsu, China, enhancing its collaboration with Jiangsu Ryan Electrical Co. Ltd. This facility integrates smart manufacturing and IoT technologies to support the global shift toward smart electrification. The opening underscores Eaton's commitment to advancing energy transition initiatives and strengthening its presence in the Asian market.

Dry Type Transformer Market Report Scope

Global Dry Type Transformer Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the global dry type transformer market report based on voltage, end use, and region:

• Voltage Outlook (Revenue, USD Million, 2018 - 2030)

  • Low Voltage

  • Medium Voltage

  • High Voltage

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Industrial

  • Commercial

  • Utilities

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa