Dry Type Current Transformer Market By Type (Air Cooled Current Transformers, Resin Impregnated Current Transformers), By End-User Industry (Power Generation, Utilities, Industrial Applications, Renewable Energy), By Application (Power Distribution, Protection & Monitoring, Energy Measurement), By Voltage (Low Voltage, Medium Voltage, High Voltage); Global Insights & Forecast (2024 - 2030)

As per Intent Market Research, the Dry Type Current Transformer Market was valued at USD 2.5 Billion in 2024-e and will surpass USD 5.2 Billion by 2030; growing at a CAGR of 12.9% during 2025 - 2030.                                                                                                                    

The dry type current transformer market is witnessing steady growth driven by increasing demand for efficient and reliable current measurement solutions in power systems. Unlike conventional oil-immersed transformers, dry type current transformers do not require insulating oil, making them a safer and more environmentally friendly alternative. These transformers are extensively used in applications such as power distribution, protection, and energy measurement across various industries, including utilities, power generation, and industrial operations.

The market's expansion is fueled by the global shift toward renewable energy sources, modernization of aging electrical infrastructure, and rising investments in smart grid technologies. Dry type current transformers are preferred for their compact design, ease of installation, and minimal maintenance requirements, which make them suitable for both indoor and outdoor applications. Additionally, advancements in materials and technologies have improved their performance, accuracy, and durability, further supporting their adoption across diverse sectors.

Air Cooled Current Transformers Lead the Type Segment

In the dry type current transformer market, air-cooled current transformers (CTs) represent the largest subsegment. Their widespread adoption is primarily due to their cost-effectiveness, simplicity, and ability to operate in a wide range of environments. Air-cooled CTs require less maintenance and offer a compact design, making them suitable for applications where space and cost constraints are important. These transformers are particularly popular in utility sectors and industrial applications where large power transmission systems need efficient monitoring and protection without the complexities of cooling systems. The ease of installation and operation, coupled with their robustness, positions air-cooled CTs as the preferred choice for a variety of industries.

 Dry Type Current Transformer Market  Size

Power Generation Industry Is Largest End-User of Dry Type Current Transformers

The power generation industry stands as the largest end-user of dry type current transformers, given the critical role these transformers play in monitoring and protecting electrical systems in power plants. Dry type CTs are essential for ensuring the accurate measurement of current, which is vital for the protection and management of equipment such as generators, transformers, and circuit breakers. The growing need for sustainable energy sources and the expansion of power generation capacity worldwide, particularly in renewable energy and traditional power plants, have fueled the demand for these transformers. Their ability to operate safely in harsh environments without the risk of oil leakage further enhances their adoption in power generation applications, reinforcing their prominence in the market.

Power Distribution Application Drives Market Expansion

Among the various applications of dry type current transformers, power distribution stands out as the fastest-growing subsegment. Power distribution involves the transmission of electricity from power plants to end users, and reliable current measurement is critical for maintaining grid stability and ensuring the protection of equipment. Dry type CTs provide precise current monitoring and overload protection, preventing costly damage to the electrical infrastructure. As global energy consumption rises and power distribution networks are upgraded to handle more complex energy sources, including renewable energy, the demand for dry type CTs in power distribution is expected to increase significantly. Their reliability and safety features make them an ideal solution for this essential application.

Low Voltage Voltage Range Dominates the Market

In terms of voltage ratings, the low voltage subsegment holds the largest share in the dry type current transformer market. Low voltage CTs are used extensively in residential, commercial, and light industrial applications, where the measurement of electrical current at lower voltage levels is crucial. They play an essential role in ensuring safe and efficient power distribution in these environments. The growing number of residential and commercial buildings, along with the increasing demand for energy-efficient systems, is driving the need for low voltage current transformers. Additionally, their affordability and ease of installation make them a preferred choice for many users, further solidifying their dominance in the market.

Asia-Pacific Region Leads the Dry Type Current Transformer Market

The Asia-Pacific (APAC) region is the largest and fastest-growing market for dry type current transformers. Rapid industrialization, urbanization, and significant investments in power generation and distribution infrastructure are driving the demand for these transformers. Countries such as China, India, and Japan are leading the charge, with large-scale power projects, industrial developments, and growing renewable energy capacity further fueling the market. Additionally, the region’s increasing focus on smart grid technology and energy efficiency is expected to enhance the demand for dry type CTs, as these transformers are integral to advanced power management systems. The APAC region’s strong growth prospects make it a key area for market participants to target.

 Dry Type Current Transformer Market  Size by Region 2030

Competitive Landscape and Leading Companies

The dry type current transformer market is competitive, with several key players dominating the landscape. Leading companies in the market include Schneider Electric, Siemens, ABB, GE Grid Solutions, and Eaton Corporation, all of which offer a wide range of current transformer solutions tailored to different industry needs. These companies emphasize technological innovation, with many investing heavily in research and development to improve the performance and reliability of their products. Additionally, strategic partnerships, acquisitions, and geographical expansion are common strategies employed by these industry leaders to strengthen their market position. As the demand for reliable, efficient, and environmentally friendly power solutions increases, competition in the dry type current transformer market is expected to intensify.

List of Leading Companies:

  • ABB Ltd.
  • Schneider Electric
  • Siemens AG
  • General Electric
  • Honeywell International Inc.
  • Emerson Electric Co.
  • Mitsubishi Electric Corporation
  • Eaton Corporation
  • Crompton Greaves Consumer Electricals Ltd.
  • CG Power and Industrial Solutions Ltd.
  • Hitachi ABB Power Grids
  • L&T Electrical & Automation
  • ZIV Automation
  • SGB-SMIT Group
  • Trench Group

Recent Developments:

  • Siemens AG launched a new range of dry type current transformers for renewable energy projects, aimed at improving energy efficiency in December 2024.
  • ABB Ltd. introduced air-cooled dry type current transformers designed for industrial applications to ensure precise energy measurement in November 2024.
  • Schneider Electric unveiled a new resin-impregnated dry type current transformer for high-voltage power systems in October 2024.
  • Mitsubishi Electric Corporation announced the deployment of its latest dry type current transformers in smart grid projects across Europe in September 2024.
  • Eaton Corporation expanded its portfolio with a line of dry type current transformers for power distribution networks in August 2024.

Report Scope:

Report Features

Description

Market Size (2024-e)

USD 2.5 Billion

Forecasted Value (2030)

USD 5.2 Billion

CAGR (2025 – 2030)

12.9%

Base Year for Estimation

2024-e

Historic Year

2023

Forecast Period

2025 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Dry Type Current Transformer Market By Type (Air Cooled Current Transformers, Resin Impregnated Current Transformers), By End-User Industry (Power Generation, Utilities, Industrial Applications, Renewable Energy), By Application (Power Distribution, Protection & Monitoring, Energy Measurement), By Voltage (Low Voltage, Medium Voltage, High Voltage)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

ABB Ltd., Schneider Electric, Siemens AG, General Electric, Honeywell International Inc., Emerson Electric Co., Eaton Corporation, Crompton Greaves Consumer Electricals Ltd., CG Power and Industrial Solutions Ltd., Hitachi ABB Power Grids, L&T Electrical & Automation, ZIV Automation, Trench Group

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

Frequently Asked Questions

The Dry Type Current Transformer Market was valued at USD 2.5 Billion in 2024-e and is expected to grow at a CAGR of 12.9% from 2025 to 2030.

The dry type current transformer market includes transformers used for electrical power measurement, protection, and monitoring, typically without the use of oil as an insulating medium.

The main types include air-cooled and resin-impregnated current transformers, each offering unique benefits in insulation and cooling for different applications.

Key industries include power generation, utilities, renewable energy, and various industrial applications where precise energy measurement and protection are critical.

Applications include power distribution, protection and monitoring systems, and energy measurement in electrical grids and industrial power systems.

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Dry Type Current Transformer Market, by Type (Market Size & Forecast: USD Million, 2023 – 2030)

   4.1. Air Cooled Current Transformers

   4.2. Resin Impregnated Current Transformers

5. Dry Type Current Transformer Market, by End-User Industry (Market Size & Forecast: USD Million, 2023 – 2030)

   5.1. Power Generation

   5.2. Utilities

   5.3. Industrial Applications

   5.4. Renewable Energy

6. Dry Type Current Transformer Market, by Application (Market Size & Forecast: USD Million, 2023 – 2030)

   6.1. Power Distribution

   6.2. Protection & Monitoring

   6.3. Energy Measurement

7. Dry Type Current Transformer Market, by Voltage (Market Size & Forecast: USD Million, 2023 – 2030)

   7.1. Low Voltage

   7.2. Medium Voltage

   7.3. High Voltage

8. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030)

   8.1. Regional Overview

   8.2. North America

      8.2.1. Regional Trends & Growth Drivers

      8.2.2. Barriers & Challenges

      8.2.3. Opportunities

      8.2.4. Factor Impact Analysis

      8.2.5. Technology Trends

      8.2.6. North America Dry Type Current Transformer Market, by Type

      8.2.7. North America Dry Type Current Transformer Market, by End-User Industry

      8.2.8. North America Dry Type Current Transformer Market, by Application

      8.2.9. North America Dry Type Current Transformer Market, by Voltage

      8.2.10. By Country

         8.2.10.1. US

               8.2.10.1.1. US Dry Type Current Transformer Market, by Type

               8.2.10.1.2. US Dry Type Current Transformer Market, by End-User Industry

               8.2.10.1.3. US Dry Type Current Transformer Market, by Application

               8.2.10.1.4. US Dry Type Current Transformer Market, by Voltage

         8.2.10.2. Canada

         8.2.10.3. Mexico

    *Similar segmentation will be provided for each region and country

   8.3. Europe

   8.4. Asia-Pacific

   8.5. Latin America

   8.6. Middle East & Africa

9. Competitive Landscape

   9.1. Overview of the Key Players

   9.2. Competitive Ecosystem

      9.2.1. Level of Fragmentation

      9.2.2. Market Consolidation

      9.2.3. Product Innovation

   9.3. Company Share Analysis

   9.4. Company Benchmarking Matrix

      9.4.1. Strategic Overview

      9.4.2. Product Innovations

   9.5. Start-up Ecosystem

   9.6. Strategic Competitive Insights/ Customer Imperatives

   9.7. ESG Matrix/ Sustainability Matrix

   9.8. Manufacturing Network

      9.8.1. Locations

      9.8.2. Supply Chain and Logistics

      9.8.3. Product Flexibility/Customization

      9.8.4. Digital Transformation and Connectivity

      9.8.5. Environmental and Regulatory Compliance

   9.9. Technology Readiness Level Matrix

   9.10. Technology Maturity Curve

   9.11. Buying Criteria

10. Company Profiles

   10.1. ABB Ltd.

      10.1.1. Company Overview

      10.1.2. Company Financials

      10.1.3. Product/Service Portfolio

      10.1.4. Recent Developments

      10.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   10.2. Schneider Electric

   10.3. Siemens AG

   10.4. General Electric

   10.5. Honeywell International Inc.

   10.6. Emerson Electric Co.

   10.7. Mitsubishi Electric Corporation

   10.8. Eaton Corporation

   10.9. Crompton Greaves Consumer Electricals Ltd.

   10.10. CG Power and Industrial Solutions Ltd.

   10.11. Hitachi ABB Power Grids

   10.12. L&T Electrical & Automation

   10.13. ZIV Automation

   10.14. SGB-SMIT Group

   10.15. Trench Group

11. Appendix

 

A comprehensive market research approach was employed to gather and analyze data on the Dry Type Current Transformer Market . In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Dry Type Current Transformer Market . The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Dry Type Current Transformer Market . These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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