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Europe High Voltage Power Transformer Market Trends

Report ID: GMI8767
Published Date: Mar 2024
Report Format: PDF

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Europe High Voltage Power Transformer Market Trends

Europe high voltage power transformer industry is propelled owing to various factors including a shift towards renewable energy sources driving demand for grid integration infrastructure, increasing emphasis on energy efficiency and grid stability, adoption of smart grid technologies, and the development of eco-friendly transformer solutions.

In 2022, the European Commission unveiled the EU's "Digitalisation of the Energy System" action plan. It anticipates approximately USD 633 billion in investments in the European electricity grid by 2030, with USD 184 billion allocated for digitalization initiatives, which will target areas including smart meters, and automated grid management, enhancing field operations efficiency. Policy initiatives promoting grid modernization and decarbonization, along with investments in transmission and distribution infrastructure, are further shaping market dynamics.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size for high voltage power transformer in Europe reached USD 2.4 billion in 2023 and is set to witness 5.3% CAGR from 2024 to 2032, owing to the increasing demand for electricity, expansion of renewable energy infrastructure, and modernization of existing power grids worldwide.

Europe high voltage power transformer industry from the oil-filled high voltage power transformers segment is expected to exceed USD 2.7 billion by 2032, due to its benefits such as, efficient heat dissipation, improved insulation properties, and heightened reliability.

France market is poised to cross USD 600 million by 2032, attributed to the rising demand for electricity, grid modernization initiatives, and integration of renewable energy sources in the country.

General Electric, Kirloskar Electric Company, LS ELECTRIC Co., Ltd., SGB SMIT, Siemens Energy, Toshiba Energy Systems & Solutions Corporation, Transformatorenwerk Breimer-Roth GmbH, WEG, and WESTRAFO SRL, are some of the major high voltage power transformer companies in Europe.