Europe Oil Filled Transformer Market Size

Europe Oil Filled Transformer Market Size

Europe Oil Filled Transformer Market size recorded at USD 5 billion in 2022 and is projected to expand at more than 7.5% CAGR from 2023 to 2032 driven by the strong presence of key industry players in the region.

The demand for transformers in Europe is primarily fueled by the refurbishment of existing grid networks. Supportive regulatory frameworks and policies, along with an upsurge in spending on the modernization of standard technologies are expected to boost industry expansion. In December 2022, the European Commission disbursed more than USD 4 billion to support clean energy transition in 8 countries. The integration of innovative components, machinery, and control equipment in oil-filled transformers is set to make them more resilient, feasible, and suitable for existing grid networks.

To get key market trends

  Download Free Sample

Mounting adoption of alternate transformer technologies may restrain industry progression

Despite a positive outlook for product adoption, the oil filled transformer industry in Europe faces a major hurdle due to the availability of alternate transformer technologies comprising gas-filled and dry-type transformers that exhibit distinct properties. For instance, in April 2022, Siemens Energy, a German energy solutions manufacturer, launched CAREPOLE, its dry-type single-phase transformer a reliable alternative to oil-filled transformers for pole applications. Nonetheless, extensive investments to refurbish the existing grid networks are likely to provide opportunities for industry growth.