Cast Resin Current Transformers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Cast Resin Current Transformers Market: Overview
The global cast resin current transformers market has grown steadily over the years, owing to the convenience it provides in reducing high voltage and currents. Resin cast current transformers are basically a dry type of transformer. Within cast resin current transformer, the internal coils and windings are coated with a special type of resin, which is known as epoxy resin. Such coating with epoxy resin provides the transformers with better insulation. Due to such high insulation property, cast resin current transformers are extensively used in instrument transformers. Cast resin current transformers are highly preferred for instrument transformers for stepping down high voltage as well as current. Such USP is believed to be driving the global cast resin current transformers market.
From the perspective of applications, the global cast resin current transformers market is segmented into metering application, protection application, and others. Among these applications, the protection segment accounts for the largest share and is expected to boost the global cast resin current transformers market during the forecast period. This is because of the complete encapsulation of both primary and secondary winding present in epoxy resin, which helps in preventing the moisture penetration into windings. All such advantages of cast resin current transformers are also expected to fuel growth in the global cast resin current transformers market.
Global Cast Resin Current Transformers Market: Notable Developments
A few recent developments which help in reshaping the contours of the cast resin current transformers market in a big way include:
Some of the most prominent competitors operating in the competitive landscape of global cast resin current transformers market include –
Global Cast Resin Current Transformers Market: Key Growth Dynamics
Rising Demand for Efficient Current Transformers to Fuel Market’s Growth
Cast resin current transformers are mainly made up of epoxy resins. Such epoxy encapsulated transformers are designed in such a way that it can perform in extreme environmental conditions. These special types of transformers make less audible noise as the core and coils are completely enclosed with a solid mass of a mixture of silica sand resin. Moreover, this cast resin current transformers’ enclosure is constructed from heavy gauge steel. Such transformers offer several benefits ranging from physical protection and outer casting provided to the core, windings, and lead connections. All such advantages are also propelling expansion in the global cast resin current transformers market.
Furthermore, cast resin current transformers can withstand any harsh environmental condition as the fragile components are covered inside a waterproof casting and tough material. The epoxy coating in the transformer provides reliable protection from hazardous gases, corrosive atmosphere, and dirt. Cast resin current transformers are highly adopted in steel mills, pulp and paper plants, food processing facilities, mines, and petrochemical plants. All such factors are also expected to boost the global cast resin current transformers market.
Global Cast Resin Current Transformers Market: Regional Outlook
On the regional front, North America is expected to lead the global cast resin current transformers market as the region has witnessed rapid industrialization. Along with this, rising disposable income, soaring demand for efficient and effective transformers, and burgeoning population could also be responsible for fueling growth I the cast resin current transformers market in this region.
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