In recent years, the dry-type transformer industry has encountered significant development opportunities. As global attention to renewable energy generation continues to rise, the demand for dry-type transformers has been steadily increasing. According to statistics from market research institutions, the global dry-type transformer market reached CNY 32.852 billion in 2021 and is expected to grow to CNY 51.527 billion by 2027, with a compound annual growth rate of 7.79%. Domestic dry-type transformers, known for their high safety and superior performance, have seen stable year-on-year growth in market demand.
As self-powered electrical devices, dry-type transformers are increasingly applied in industrial and residential distribution systems. They use air as the insulation medium, making them more environmentally friendly and safer than oil-immersed transformers, with lower operating and maintenance costs and significantly reduced fire hazards. China's annual production of dry-type transformers has grown from 2 billion kVA in 2013 to 2.7 billion kVA in 2019 and is projected to reach 3.8 billion kVA by 2025, with a compound annual growth rate of 5.67%. It is evident that dry-type transformers are gradually replacing traditional oil-immersed transformers in power distribution.
From a technical perspective, dry-type transformers' design and manufacturing level directly influence their market share. Due to differences in production capacity and technological levels among domestic companies, most enterprises focus on mid-to-low-end products, while only a few possess strong R&D innovation capabilities and independent intellectual property rights. Mainstream enterprises entering the mid-to-high-end market rely on their high-quality products and service systems to gradually form market barriers.
Notably, policy support and industry innovation are two crucial factors driving the development of the dry-type transformer market. Under the guidance of green and environmentally friendly policies, the market is moving towards high efficiency and energy conservation, with continuous technological innovation. The use of dry-type transformers is becoming more widespread in electric power construction, large infrastructure projects, and renewable energy fields, with technological applications increasingly oriented towards smart and digital development. This year, a well-known enterprise even launched dry-type transformers equipped with intelligent monitoring systems, which can provide real-time feedback on equipment status and maintenance suggestions, further enhancing the efficiency and safety of the equipment.
In future development forecasts, the dry-type transformer industry will face more market challenges and opportunities. As demand continues to grow, the industry will attract more investment and technological implementation. According to market research, the application of dry-type transformers in emerging industries such as rail transportation, wind power, and photovoltaics is being comprehensively expanded, with photovoltaic power projects having a particularly urgent need for high-efficiency dry-type transformers. It is expected that by 2025, the market share of dry-type transformers in these fields will increase further, injecting momentum into the sustained healthy growth of the entire industry.
Of course, the rapid development of the industry is accompanied by potential market risks. The primary risks include intensified industry competition, fluctuations in raw material prices, and adjustments in policies and regulations, all of which could impact the future development direction of the dry-type transformer market. Meanwhile, the continuous iteration and updating of technology pose higher requirements for enterprises' R&D and manufacturing capabilities.
Overall, the development of China's dry-type transformer market in 2025 will usher in a new round of opportunities, potentially entering a new phase of technological innovation, market integration, and sustainable development. If enterprises can effectively respond to risks and seize the opportunities of industry transformation, they will be able to occupy a more advantageous position in future market competition.
