Ireland, Dublin: The addition of the "Global Dry Type Transformer Market - Growth Trends and Forecasts (2015-2020)" report has been published and made available by Research and Markets.
According to the report, the dry type transformers market is underpinned by the increasing demand for energy, reduction of fire hazards, and need to adopt safe methods to distribute electricity for residential and commercial use, reports Business Wire.
On the other hand, lack of investments by the government towards grid stability is likely to inhibit the development of the dry type transformers market.
Asia Pacific dominates the global dry type transformers market followed by North America and Europe. Additionally, countries in the Middle East and Africa region like Iran and Saudi Arabia are also investing in the expansion and restructuring of power grids, which increases the growth prospects for the dry type transformer market.
Companies mentioned in the report include ABB Ltd., Eaton Corporation, Siemens AG, Crompton Greaves, Hammond Power Solutions, Voltamp Transformers, Schneider Electric, Tbea Transformer Industrial Group, and General Electrical.
Source: Business Wire