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Cast-resin Transformer: Introduction

  • Cast-resin transformers are power transformers that have windings encased in epoxy resin that makes the installation process easier, as they do not require cooling oil and they are dry.
  • Cast-resin transformers are also known as dry-type transformers.
  • These transformers are used in numerous applications and they can be installed both indoors & outdoors. They are designed in such a way that they can be used in outdoor applications, where weatherproofing is required, and mounted on a skid frame.
  • Use of cast-resin transformers can be attributed to their various benefits such as the minimal risk of fire, no requirement for cooling liquids, easier maintenance, low operating costs, and a layer of epoxy that protects it from dust and corrosion.
  • Cast-resin transformers are segmented by type (naturally-cooled, forced-air-cooled), phase (single-phase, three-phase), voltage (low voltage, medium voltage), application (hospitals, roadways, mines, nuclear plants, oil and gas plants, others), and region.

Rise in Demand for Use in Industrial Applications

  • The industrial application segment is expected to be the fastest growing segment of the cast-resin transformer market during the forecast period due to the increasing demand for these transformers for electricity and machinery purposes from various end-use industries such as mining, oil & gas, nuclear power plants, hospitals, marine, and others.
  • Some of the properties of cast-resin transformers such as the minimal risk of fire, no requirement for cooling liquids, easier maintenance, low operating costs, and a layer of epoxy that protects it from dust and corrosion also propels its use in various end-use industries, especially where fire safety is important, such as oil & gas, mining, nuclear power plants, and the marine industry.
  • The three-phase cast-resin transformer segment holds the second largest share of the cast-resin transformer market due to the extensive use of three-phase cast-resin transformers in various electricity applications.
  • Factors driving the growth of the cast-resin transformer market include increasing safety awareness, low installation and overall cost of the product, and advantages of cast-resin transformers over old-style oil-filled transformers. Low losses in the magnetic core and windings reduces operational cost. Materials used for the production of cast-resin transformers are hardly inflammable. Moreover, no cooling liquids are required. Cast-resin transformers are increasingly used where safety is crucial, such as hospitals, public premises, airports, subway lines, mines, oil rigs, nuclear power plants, and ships.

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Asia Pacific to Lead the Cast-resin Transformer Market

  • In terms of region, the global cast-resin transformer market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • Asia Pacific is anticipated to dominate the global cast-resin market throughout the forecast period, due to the high industrialization rate in the region and new electrification projects in industrial, commercial, and infrastructure sectors in the region.
  • Moreover, various manufacturers in China, India, Japan, Taiwan, and other countries of Asia Pacific are exporting the end product to various other countries worldwide.
  • North America is expected to hold the second largest share of the cast-resin transformer market during the forecast period since growth potential of renewable energy in the US is high and because of growing electricity demand in the US and Canada. 
  • The cast-resin transformer market in Europe and South America is expected to expand at a substantial rate during the forecast period. On the other hand, Middle East & Africa is estimated to witness slow growth rate in the market during the forecast period.

Key Players Operating in the Global Cast-resin Transformer Market

The global cast-resin transformer market was highly fragmented in 2019. Major 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 undertaking mergers and acquisitions for the development of innovative products.

Key players operating in the global cast-resin transformer market are listed below:

  • General Electric
  • Eaton Corporation
  • ABB
  • Schneider Electric
  • Fuji Electric
  • Siemens AG
  • Hammond Power Solutions
  • Nexans Maroc
  • Voltamp Transformers
  • Legrand
  • Kirloskar Electric Co. Ltd.

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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 Phase

  • Three-phase
  • Single-phase

Global Cast-resin Transformer Market, by Voltage

  • Low Voltage
  • Medium Voltage

Global Cast-resin Transformer Market, by Application

  • Industrial
  • Commercial
  • Others

Global Cast-resin Transformer Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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.

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Cast Resin Transformer Market

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