Cast-resin Transformer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

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. 

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.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

• Customer Experience Maps
• Insights and Tools based on data-driven research
• Actionable Results to meet all the business priorities
• Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.