Dry-Type Transformer - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026 - 2031)
乾式変圧器市場レポート：電力定格（大、中、小）、冷却方式（自然空冷、強制空冷、強制水冷）、相数（単相、三相）、変圧器タイプ（電力用、配電用）、エンドユーザー（電力会社、産業用、商業用、住宅用）、地域（北米、欧州、アジア太平洋、南米、中東・アフリカ）.
The Dry-Type Transformer Market Report is Segmented by Power Rating (Large, Medium, and Small), Cooling Method (Air-Natural, Air-Forced, and Water-Forced), Phase (Single-Phase and Three-Phase), Transformer Type (Power and Distribution), End-User (Power Utilities, Industrial, Commercial, and Residential), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa).
| 出版 | Mordor Intelligence |
| 出版年月 | 2026年05月 |
| ページ数 | 125 |
| 価格 | 記載以外のライセンスについてはお問合せください |
| シングルユーザ | USD 4,750 |
| 種別 | 英文調査報告書 |
| 商品番号 | SMR-22438 |
乾式変圧器市場規模は、2025年の175億米ドルから2026年には183億7000万米ドルに成長し、2031年には241億8000万米ドルに成長し、2026年から2031年にかけての年平均成長率（CAGR）は5.65%に達するとMordor Intelligenceでは予測しています。
需要の中心は、データセンター、再生可能エネルギー発電所、送電網末端変電所などにおける、耐火性・無油性の設備です。これらの施設では、建築基準や環境規制により、液浸式機器の使用がますます制限されています。現在、10MVA以下の小型定格が主流ですが、より高い熱的余裕と予知保全を求める事業者の需要の高まりに伴い、強制空冷式やAIを活用した監視システムがシェアを拡大しています。アジア太平洋地域は、地域ごとのインセンティブ制度によりコスト面で優位性を維持しており、北米のインフレ抑制法と欧州連合のREPowerEU計画は、国内における設備更新サイクルを加速させています。アモルファスコア技術とデジタルツインを組み合わせたサプライヤーは、初期設備投資入札に代わる総所有コストモデルへの移行に伴い、価格決定力を高めています。
主要レポートの要点
- 電力定格別に見ると、10 MVA以下の小型変圧器は、2025年時点で乾式変圧器市場の68.8%を占め、2031年まで年平均成長率（CAGR）8.6%で拡大すると予測されています。
- 冷却方式別に見ると、強制空冷式は2026年から2031年にかけて最も高いCAGR 8.9%を記録すると予測されていますが、自然空冷式は乾式変圧器市場全体の売上高の70.7%を維持しています。
- 相別に見ると、三相構成は2025年の出荷量の75.4%を占め、乾式変圧器市場における三相需要は2031年まで年平均成長率6.1%で成長すると予測されています。
- 変圧器の種類別に見ると、配電用変圧器は2025年時点で乾式変圧器市場規模の72.9%を占め、送電網近代化への投資を背景に年平均成長率7.8%で成長すると予測されています。
- エンドユーザー別に見ると、産業分野は年平均成長率（CAGR）8.2%で成長すると予測されており、電力会社は49.2%のシェアを占めています。
- 地域別に見ると、アジア太平洋地域は2025年に48.1%の収益シェアを占め、2026年から2031年にかけて年平均成長率6.7%で成長すると予測されています。
Dry-Type Transformer Market Analysis by Mordor Intelligence
The Dry-Type Transformer Market size is expected to grow from USD 17.5 billion in 2025 to USD 18.37 billion in 2026 and is forecast to reach USD 24.18 billion by 2031 at 5.65% CAGR over 2026-2031.
Demand centers on fire-safe, oil-free installations across data centers, renewable plants, and grid-edge substations, where building codes and environmental rules increasingly prohibit liquid-immersed equipment. Small ratings below 10 MVA dominate today, yet air-forced cooling and AI-enabled monitoring are capturing share as operators seek higher thermal headroom and predictive maintenance. Asia-Pacific retains cost leadership through local incentive schemes, while North America’s Inflation Reduction Act and the European Union’s REPowerEU plan accelerate domestic replacement cycles. Suppliers that pair amorphous-core technology with digital twins are gaining pricing power as total-cost-of-ownership models replace upfront-capex bidding.
Key Report Takeaways
- By power rating, small transformers, up to 10 MVA, held 68.8% of the dry-type transformer market share in 2025 and are projected to expand at an 8.6% CAGR through 2031.
- By cooling method, air-forced units are expected to post the fastest 8.9% CAGR from 2026 to 2031, even as air-natural systems retain a 70.7% revenue share across the dry-type transformers market.
- By phase, three-phase configurations accounted for 75.4% of 2025 shipments, while three-phase demand is projected to grow at a 6.1% CAGR through 2031 within the dry-type transformers market.
- By transformer type, distribution units represented 72.9% of the dry-type transformer market size in 2025 and are expected to grow at a 7.8% CAGR, driven by grid modernization spending.
- By end-user, the industrial segment are expected to grow at an 8.2% CAGR, while power utilities held 49.2%.
- By geography, the Asia-Pacific region commanded a 48.1% revenue share in 2025 and is expected to grow at a CAGR of 6.7% from 2026 to 2031.
Global Dry-Type Transformer Market Trends and Insights
Increasing Grid-Edge Medium-Voltage Replacements
Half of North America’s distribution-transformer fleet now exceeds 33 years in service, driving a replacement wave that favors dry-type units in wildfire-prone regions.[1] Utilities are pairing transformers with battery storage and solar inverters, demanding K-factor designs above 13 to handle harmonic-rich loads. Pad-mounted configurations cut installation costs by 15-20% because they eliminate oil-containment vaults, and California regulators are accelerating adoption through stringent wildfire-mitigation mandates. Globally, the resulting volume supports economies of scale that lower per-kVA pricing and widen the addressable dry-type transformers market. Suppliers integrating sensors for harmonic distortion and temperature are capturing premium margins as utilities pivot toward condition-based maintenance.
Surge in Renewable-Tied Pad-Mounted Installations
Global renewable capacity additions are forecast to create cumulative step-up demand of 2 TW by 2050. Dry-type pad-mounted units sidestep costly spill-containment berms, shaving up to 12 weeks from construction schedules in environmentally sensitive zones. Offshore wind developers are standardizing IP56-rated cast-coil designs that withstand salt spray, while integrated energy-storage projects require bidirectional transformers capable of cyclical charge-discharge regimes. Product launches such as Eaton’s Envirotran series underscore the shift, and the trend lifts both unit volume and average selling price, reinforcing a robust growth outlook for the dry-type transformers market.
Data-Center Fire-Safety Mandates Favoring Oil-Free Units
NFPA 70 and international building codes restrict flammable liquids inside occupied facilities, leading cloud operators to make dry-type transformers the default at 13.8 kV and 34.5 kV service voltages.[2] Rising AI workloads have doubled rack-level heat, forcing hyperscalers to elevate distribution voltage and specify K-factor 20 transformers that tolerate high harmonic distortion. National Electrical Manufacturers Association guidance now prioritizes surge-withstand capability for 25 kA faults. Coupled with growing insurance incentives, these rules propel steady demand growth within the dry-type transformers market.
Electrification of Offshore Platforms
Projects such as ABB’s Oseberg link have proven that shore-powered platforms cut hundreds of thousands of tonnes of CO₂ annually.[3] EPCI contractors choose dry-type units for Zone 1 and Zone 2 hazardous areas to eliminate oil-fire risk and reduce maintenance. Subsea power grids in fields like Johan Sverdrup are rating dry-type designs for 3,000-meter depths. As operators pursue offshore wind-to-hydrogen hybrids, transformers must manage variable inputs and electrolyzer loads, expanding functional requirements and sustaining growth momentum for the dry-type transformers market.
Volatile Copper & Epoxy Prices
LME copper peaked at USD 11,104.50 per tonne in 2024, lifting material costs for windings that account for up to 40% of a transformer’s bill of materials.[4] Epoxy resin tracked oil derivatives higher, squeezing margins on cast-coil designs. Manufacturers reduced price-validity windows to 30-45 days and inserted escalation clauses, pushing commodity risk onto end-users. Aluminum windings gained favor for low-voltage coils, trimming weight by 60% yet demanding larger conductors to match conductivity. Smaller Asian vendors without hedging tools faced order cancellations, a drag on the dry-type transformers market in price-sensitive tenders.
Lengthening LV & MV Transformer Lead-Times
Medium-voltage delivery has stretched to 24 months and up to 48 months for 100 MVA units because only a handful of mills can supply premium grain-oriented steel. OEMs now lock multi-year offtake contracts and build inventory buffers, tying up working capital. Utilities refurbish retired units or lease mobile substations, but those stop-gaps only temper the impact. Capacity expansions, like Hitachi Energy’s USD 4.5 billion program, add slitting lines and amorphous-metal ribbon production. Lead-time uncertainty, therefore, caps near-term growth in the dry-type transformers market until new supply materializes.
*Our forecasts treat driver/restraint impacts as directional, not additive. The impact forecasts reflect baseline growth, mix effects, and variable interactions.
Segment Analysis
By Power Rating: Small Units Anchor Distributed Grid
Small ratings up to 10 MVA accounted for 68.8% of the dry-type transformers market share in 2025. They are projected to grow at 8.6% as rooftop solar, EV-charging hubs, and battery storage expand. The dry-type transformers market size for this class is forecast at USD 16.7 billion by 2031. Medium-power units between 10 MVA and 100 MVA follow with modest uptake in university campuses and industrial complexes, increasingly specified with on-load tap changers for renewable intermittency.
Containerized data-center modules favor 2-5 MVA dry-type blocks, cutting on-site work from 12 weeks to three. Large-MVA step-up requirements remain niche because oil-immersed cooling still delivers better thermal economics at the 400 MVA level. Upcoming U.S. efficiency rules mandate amorphous-core adoption in small distribution units, temporarily inflating capex but improving lifecycle cost, reinforcing momentum in the dry-type transformers market.
By Cooling Method: Air-Forced Systems Gain Thermal Edge
Air-natural designs held 70.7% share in 2025, thanks to simplicity and silent operation. Yet air-forced cooling is advancing at 8.9% CAGR as data-center and industrial retrofits demand higher power density. Variable-speed fans controlled by embedded processors cut auxiliary draw by 50% versus fixed-speed models. Water-forced alternatives surface in Saudi Arabia and Abu Dhabi, where 45 °C ambient temperatures erode air-cooling efficiency; despite niche adoption, their higher price lifts the overall dry-type transformers market size.
Asia-Pacific leads air-forced uptake given land constraints in cities like Singapore and Mumbai. Meanwhile, air-natural retains a foothold in hospitals and schools that require low acoustic profiles.
By Phase: Three-Phase Configurations Dominate Industrial Loads
Three-phase technology captured 75.4% share in 2025 and is growing at 6.1% CAGR through 2031. Material savings, about 15% less core steel and copper than three single-phase units, support preference among utilities to standardize pad-mounted gear for new subdivisions. IEC 61850 compliance further drives three-phase adoption as utilities embed Ethernet switches and sensors for real-time diagnostics.
Single-phase units regain relevance in off-grid solar and remote microgrids, allowing independent phase optimization and simpler inverter design. EV fast-charging corridors that run on 480 V three-phase feeds will continue to reinforce demand for three-phase dry-type installations, sustaining growth in the broader dry-type transformers market.
By Transformer Type: Distribution Leads Volume, Power Units Scale in Renewables
Distribution transformers delivered 72.9% of 2025 revenue and are forecast to expand at 7.8% CAGR, mirroring urbanization and commercial densification. The dry-type transformers market size for distribution equipment is set to top USD 17 billion by 2031. Power transformers from 10 MVA to 100 MVA are growing in solar and wind projects that avoid oil-filled alternatives to simplify permitting.
The U.S. Infrastructure Investment and Jobs Act earmarks USD 65 billion for distribution-grid upgrades, creating a steady replacement funnel. IEC 60076-16 testing costs still slow adoption above 72.5 kV, though modular testing protocols promise to ease the burden and unlock future dry-type transformers market growth.
By End-User: Industrial Segment Outpaces Utilities in Growth
Power utilities held 49.2% of 2025 sales, but industrial facilities are expanding at 8.2% as fabs and battery gigafactories seek harmonic-tolerant, low-inrush transformers. Cloud operators, airports, and hospitals value fire safety and operational continuity, turning to cast-coil units with embedded partial-discharge detectors.
Utilities increasingly procure transformers packaged with cloud analytics that predict failures 6-12 months ahead, extending asset life and optimizing capex. Energy-as-a-service models in commercial real estate further stimulate dry-type transformers market penetration by converting equipment purchase into opex contracts.
Complete Report Scope:
| By Power Rating | Large (Above 100 MVA) | |
| Medium (10 to 100 MVA) | ||
| Small (Up to 10 MVA) | ||
| By Cooling Method | AN (Air-Natural) | |
| AF (Air-Forced) | ||
| WF (Water-Forced) | ||
| By Phase | Single Phase | |
| Three Phase | ||
| By Transformer Type | Power | |
| Distribution | ||
| By End-User | Power Utilities | |
| Industrial | ||
| Commercial | ||
| Residential | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Europe | United Kingdom | |
| Germany | ||
| France | ||
| Italy | ||
| Spain | ||
| Russia | ||
| Rest of Europe | ||
| Asia-Pacific | China | |
| India | ||
| Japan | ||
| South Korea | ||
| ASEAN Countries | ||
| Australia and New Zealand | ||
| Rest of Asia-Pacific | ||
| South America | Brazil | |
| Argentina | ||
| Chile | ||
| Rest of South America | ||
| Middle East and Africa | Saudi Arabia | |
| United Arab Emirates | ||
| South Africa | ||
| Egypt | ||
| Rest of Middle East and Africa | ||
Geography Analysis
Asia-Pacific led global revenue with 48.1% share in 2025 and is forecast to grow at 6.7% CAGR. China’s State Grid is adding more than 200 GW of renewable capacity annually, each gigawatt requiring dozens of dry-type step-up units, while India’s Production-Linked Incentive scheme subsidizes local transformer output. Earthquake-resistant versions in Japan and South Korea use flexible bushings to meet seismic codes, underscoring regional customization within the dry-type transformers market.
North America ranks second in size but posts the fastest growth, buoyed by USD 369 billion in Inflation Reduction Act spending and USD 65 billion in infrastructure funding. California utilities specify dry-type units in wildfire corridors, and coastal operators replace oil-filled gear vulnerable to storm-surge contamination. Growing data-center clusters in Virginia and Texas drive further demand for harmonic-rated, fire-safe transformers.
Europe’s REPowerEU initiative accelerates offshore wind deployment. Dry-type transformers step up 66 kV cables to 220 kV shoreside grids, sidestepping oil-spill risks. The Middle East and Africa confront thermal derating penalties above 45 °C; water-forced cooling mitigates the issue, albeit at 30% capital cost premiums. Brazil and Chile anchor Latin American growth through hydro-solar hybrids needing dry-type step-ups. Collectively, these dynamics reinforce a geographically diverse dry-type transformers market.
Competitive Landscape
The top five suppliers, ABB, Siemens Energy, Hitachi Energy, Eaton, and Schneider Electric, control around 40-45% of global revenue, signifying moderate concentration. Vertical integration into amorphous-core ribbon and GOES slitting now separates leaders from regional players such as CG Power, TBEA, LS Electric, and WEG, which leverage cost advantages for local tenders. Hitachi Energy’s USD 4.5 billion capacity build-out adds plants in India, the United States, and Europe to satisfy domestic-content clauses.
Digital twins embedded through ABB Ability and Hitachi Lumada command premium service fees, transforming one-off hardware sales into recurring software revenue. Modular, factory-assembled e-houses from Eaton and Schneider cut installation time by 75%, appealing to data-center and mining projects. Chinese entrants, aided by Belt and Road financing, undercut Western pricing by up to 30%, but concerns over long-term service support limit penetration in Tier-1 utilities.
White-space opportunities abound in sub-10 MVA microgrid transformers, ultra-high-voltage dry-type designs above 72.5 kV, and water-forced cooling for desert climates. Suppliers able to bundle these hardware niches with predictive analytics and maintenance services are poised to capture incremental dry-type transformers market share.
Recent Industry Developments
- April 2026: Fuji Electric Co., Ltd. introduced a compact and lightweight cast resin dry-type transformer designed for Southeast Asia and global markets. The product aims to minimize installation space requirements, catering to data centers, semiconductor facilities, and renewable energy infrastructure.
- September 2025: Hitachi Energy has announced a USD 1 billion investment in U.S. manufacturing to support grid modernization. This investment includes the expansion of transformer production infrastructure, which is expected to indirectly improve the availability of dry-type transformers through increased capacity and technological advancements.
- September 2025: Mehru Electrical & Mechanical Engineers Pvt Ltd entered into an agreement with Hyosung for GIS instrument transformers, highlighting a strategic collaboration in transformer technologies.
- September 2025: Emerald Lake Capital has acquired CORE Transformers, establishing a North American transformer platform. This acquisition enhances capacity and expands the repair and servicing network for transformers, including dry-type units.
List of Companies Covered in this Report:
- ABB Ltd.
- Eaton Corporation plc
- CG Power & Industrial Solutions
- TBEA Co. Ltd.
- MGM Transformer Co.
- Federal Pacific Transformer
- Temco Industrial Power
- Siemens AG
- Hitachi Energy Ltd.
- Fuji Electric Co. Ltd.
- Kirloskar Electric Co. Ltd.
- TMC Transformers S.p.A.
- LS Electric Co. Ltd.
- Gujarat Transformers Pvt Ltd.
- Schneider Electric SE
- Hammond Power Solutions Inc.
- Hyundai Electric & Energy Systems
- Bharat Bijlee Ltd.
- Voltamp Transformers Ltd.
- Daelim Co. Ltd.
- WEG SA
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 Introduction
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Landscape
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing grid-edge medium-voltage replacements
4.2.2 Surge in renewable-tied pad-mounted installations
4.2.3 Data-center fire-safety mandates favouring oil-free units
4.2.4 Electrification of offshore platforms (EPCI push)
4.2.5 AI-enabled remote condition monitoring
4.2.6 Polymer soft-magnetic composite cores lowering no-load loss
4.3 Market Restraints
4.3.1 Volatile copper & epoxy prices
4.3.2 Lengthening LV & MV transformer lead-times
4.3.3 Thermal derating above 45 C ambient in MENA
4.3.4 Certification bottlenecks for over 72.5 kV dry units
4.4 Supply-Chain Analysis
4.5 Regulatory Landscape
4.6 Technological Outlook
4.7 Porter’s Five Forces
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Buyers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes
4.7.5 Competitive Rivalry
5 Market Size & Growth Forecasts
5.1 By Power Rating
5.1.1 Large (Above 100 MVA)
5.1.2 Medium (10 to 100 MVA)
5.1.3 Small (Up to 10 MVA)
5.2 By Cooling Method
5.2.1 AN (Air-Natural)
5.2.2 AF (Air-Forced)
5.2.3 WF (Water-Forced)
5.3 By Phase
5.3.1 Single Phase
5.3.2 Three Phase
5.4 By Transformer Type
5.4.1 Power
5.4.2 Distribution
5.5 By End-User
5.5.1 Power Utilities
5.5.2 Industrial
5.5.3 Commercial
5.5.4 Residential
5.6 By Geography
5.6.1 North America
5.6.1.1 United States
5.6.1.2 Canada
5.6.1.3 Mexico
5.6.2 Europe
5.6.2.1 United Kingdom
5.6.2.2 Germany
5.6.2.3 France
5.6.2.4 Italy
5.6.2.5 Spain
5.6.2.6 Russia
5.6.2.7 Rest of Europe
5.6.3 Asia-Pacific
5.6.3.1 China
5.6.3.2 India
5.6.3.3 Japan
5.6.3.4 South Korea
5.6.3.5 ASEAN Countries
5.6.3.6 Australia and New Zealand
5.6.3.7 Rest of Asia-Pacific
5.6.4 South America
5.6.4.1 Brazil
5.6.4.2 Argentina
5.6.4.3 Chile
5.6.4.4 Rest of South America
5.6.5 Middle East and Africa
5.6.5.1 Saudi Arabia
5.6.5.2 United Arab Emirates
5.6.5.3 South Africa
5.6.5.4 Egypt
5.6.5.5 Rest of Middle East and Africa
6 Competitive Landscape
6.1 Market Concentration
6.2 Strategic Moves (M&A, Partnerships, PPAs)
6.3 Market Share Analysis (Market Rank/Share for key companies)
6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products & Services, and Recent Developments)
6.4.1 ABB Ltd.
6.4.2 Eaton Corporation plc
6.4.3 CG Power & Industrial Solutions
6.4.4 TBEA Co. Ltd.
6.4.5 MGM Transformer Co.
6.4.6 Federal Pacific Transformer
6.4.7 Temco Industrial Power
6.4.8 Siemens AG
6.4.9 Hitachi Energy Ltd.
6.4.10 Fuji Electric Co. Ltd.
6.4.11 Kirloskar Electric Co. Ltd.
6.4.12 TMC Transformers S.p.A.
6.4.13 LS Electric Co. Ltd.
6.4.14 Gujarat Transformers Pvt Ltd.
6.4.15 Schneider Electric SE
6.4.16 Hammond Power Solutions Inc.
6.4.17 Hyundai Electric & Energy Systems
6.4.18 Bharat Bijlee Ltd.
6.4.19 Voltamp Transformers Ltd.
6.4.20 Daelim Co. Ltd.
6.4.21 WEG SA
7 Market Opportunities & Future Outlook
7.1 White-space & Unmet-Need Assessment