Cast Resin Dry Type Transformer Market Report 2026

The cast resin dry type transformer market size has grown strongly in recent years. It will grow from $4.41 billion in 2025 to $4.71 billion in 2026 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to rise in use of cast resin dry type transformers in commercial settings, increasing adoption in industrial facilities, deployment in residential applications, integration in low and medium voltage networks, expansion in indoor and outdoor installations.

The cast resin dry type transformer market size is expected to see strong growth in the next few years. It will grow to $6.06 billion in 2030 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increase in AI-optimized transformer monitoring, rising adoption in renewable energy integration, growth in high-efficiency epoxy-encapsulated transformers, expansion in compact and modular transformer designs, increase in smart grid-compatible transformer solutions. Major trends in the forecast period include adoption of advanced dry type transformers, implementation of AI-based energy management, expansion of compact and lightweight transformers, deployment of IoT-enabled transformer monitoring, development of energy-efficient resin encapsulated transformers.

Favorable government policies aimed at increasing electrification are expected to drive the growth of the cast resin dry type transformer market in the future. Various countries worldwide are implementing initiatives to enhance electrification, motivated by factors such as the need to reduce greenhouse gas emissions, improve energy security, and ensure access to electricity for all. For example, in March 2023, the World Economic Forum, a Switzerland-based International Organization for Public-Private Cooperation, reported that by 2025, renewable energy capacity is projected to represent 35% of global power generation. Electricity demand is anticipated to rise by 3% annually over the next three years compared to 2022. Additionally, the share of renewables in the global power generation mix is expected to increase from 29% to 35% by 2025. Therefore, favorable government policies to boost electrification will drive the cast resin dry type transformer market during the forecast period.

Major companies operating in the cast resin dry type transformer market are concentrating on developing innovative solutions such as digital transformer monitoring to improve operational efficiency, predictive maintenance, and grid reliability. Digital transformer monitoring involves the use of advanced sensors, data analytics, and cloud-based platforms to continuously evaluate transformer health, identify anomalies, and optimize performance. For instance, in February 2023, Hitachi Energy, a Switzerland-based power and energy technology company, introduced the next-generation TXpert solution, designed to digitalize every transformer. TXpert offers real-time condition monitoring, predictive diagnostics, and actionable insights, enabling utilities and industrial operators to extend transformer lifespan, minimize downtime, and enhance grid resilience.

In September 2024, Hammond Power Solutions Inc. acquired Micron Industries Pvt. Ltd. for an undisclosed amount. This acquisition is intended to enhance its product portfolio and expand its market presence in India. This strategic move is expected to leverage Micron's expertise in electrical solutions, allowing for innovative offerings and improved customer service. Micron Industries Pvt. Ltd. is an India-based company that specializes in the manufacturing and supply of various industrial products.

Major companies operating in the cast resin dry type transformer market are Kirloskar Electric Co. Ltd., Schneider Electric SE, Siemens AG, ABB Ltd., Bharat Heavy Electricals Limited, Crompton Greaves Limited, Eaton Corporation, Fuji Electric Co. Ltd., General Electric Company, Hammond Power Solutions Inc., Hitachi Ltd., Voltamp Transformers Limited, WEG Industries, Hyosung Heavy Industries Corporation, Legrand SA, PI. CAST-RESIN Sp. z o.o., Power Sp. z o.o., TBEA Co. Ltd., Toshiba Corporation, CG Power and Industrial Solutions Ltd., Efacec Power Solutions SGPS SA, HyundAI Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, Schneider Electric Infrastructure Limited, Siemens Limited, Trafomodern Transformatorengesellschaft mbH, Wilson Power Solutions Ltd.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the cast resin dry type transformer market by increasing costs for imported epoxy resin, core materials, and transformer components. Industrial, commercial, and residential installations in Europe, North America, and Asia-Pacific are most affected due to reliance on imported high-quality materials. Nevertheless, tariffs are encouraging local production, regional sourcing, and innovation in energy-efficient and smart transformer technologies, improving supply chain resilience and adoption of advanced dry type transformers.

The cast resin dry type market research report is one of a series of new reports that provides cast resin dry type market statistics, including cast resin dry type industry global market size, regional shares, competitors with a cast resin dry type market share, detailed cast resin dry type market segments, market trends and opportunities, and any further data you may need to thrive in the cast resin dry type industry. This cast resin dry type market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A cast resin dry-type transformer is an insulation-sealed transformer that eliminates the need for liquid insulation by encapsulating its primary and secondary windings with epoxy resin. The use of cast resin provides protection against adverse environmental conditions, and these transformers are generally more compact and lighter than their counterparts. They find applications in diverse settings, including commercial, industrial, and residential environments, both indoors and outdoors. Cast coil transformers exhibit superior impulse voltage withstand strength compared to traditional dry-type transformers, facilitating the conversion of alternating current from one voltage to another.

Two main categories of cast resin dry-type transformers are converter transformers and rectifier transformers. Converter transformers are employed in industries for converting alternating current (AC) to direct current (DC). Cooling options for these transformers include natural air cooling and forced air cooling. The phases of cast resin dry-type transformers encompass single phase, three phase, and low voltage, as well as medium voltage. These transformers serve various applications in industrial, commercial, and other sectors.Asia-Pacific was the largest region in the cast resin dry type transformer market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cast resin dry type transformer market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cast resin dry type transformer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cast resin dry type transformer market consists of sales of electrical transformer, auxiliary, isolation, lightning, excitation and rectifier. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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