New York, Oct. 17, 2023 (GLOBE NEWSWIRE) — The global dry type transformer market size is projected to expand at ~9% CAGR between 2023 and 2035. The market is expected to garner a revenue of USD 16 billion by the end of 2035, up from a revenue of ~USD 6 billion in the year 2022The growing incidences of fire incidences with oil transformers is expected to increase the adoption of dry type transformer. Over the course of a year, it is estimated that eight out of every thousand distribution oil transformers will fail, with lightning being responsible for 30% of the failures. High return stroke peak current, high rates of current rise, many flashes, and positive lightning flashes are the lightning parameters that are directly associated with transformer failures.
(GlobeNewsWire)