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Europe Transformer Market Size - By Core (Closed, Shell, Berry), By Product Type (Distribution Transformer, Power Transformer, Instrument Transformer), Cooling (Dry Type, Oil Immersed), Mounting, Insulation Winding, Rating, Application & Forecast, 2023 – 2032

  • Report ID: GMI6687
  • Published Date: Sep 2023
  • Report Format: PDF

Europe Transformer Industry Analysis

Europe Transformer Market size was valued at USD 9.5 billion in 2022 and is projected to grow at a CAGR of 8.7% from 2023 to 2032. Continued investment in infrastructure, including transmission and distribution networks, can create opportunities for transformer manufacturers as utilities upgrade and expand their systems.

Europe Transformer Market

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Grid modernization efforts in Europe have led to increased demand for advanced transformers that can handle higher voltages, provide better energy efficiency, and offer more reliable performance. Smart transformers equipped with monitoring and communication capabilities are becoming more prevalent. Energy efficiency regulations and directives in the European Union have pushed manufacturers to develop more energy-efficient transformers. Transformers with higher energy efficiency ratings are in demand to reduce energy losses in the grid.

The electricity industry encounters specific challenges, notably the substantial initial expenditures and increasing replacement expenses linked to transformers. Moreover, the technology employed in transformers must adhere to stringent regulations and labeling standards, which results in elevated production costs for high-quality products. Transformers hold a pivotal role within the Transmission and Distribution (T&D) network, contributing significantly to voltage regulation and current-carrying capabilities. Given their critical function in electrical applications and the imperative for precise operation, considerable investments are imperative to ensure quality control and the automated manufacturing of transformer components. The incorporation of advanced electrical components and a growing emphasis on energy efficiency also contribute to the rising costs associated with transformers.

Impact of COVID-19 on Europe Transformer Market

During the COVID-19 pandemic, the progression, building, and upkeep of power infrastructure remained uninterrupted as there were no government bans on new energy initiatives. Government programs targeted at restarting activities in key sectors, manufacturing plants, and infrastructure ventures will continue to bolster the energy sector's expansion due to heightened demand from these domains. In recent periods, various areas have observed the implementation of extensive power projects, which align with the prevailing pandemic scenario. Nevertheless, the pandemic has had a limited influence on the core elements of the sector, including corporate revenues, consumer patterns, and specific facets of industrial activities.

Europe Transformer Market Trends

The transformer market in Europe is poised for Prominent growth due to the shifting trends toward energy-efficient technologies. The Transmission and Distribution (T&D) retrofitting sector plays a pivotal role in bolstering the demand for transformers across the region. The increasing demand for electricity will have a substantial impact on investments in the European T&D retrofitting industry, consequently influencing the size of the transformer market. Additionally, the integration of sustainable technologies into the grid has led to the expansion of microgrid networks. The favorable perspective on renewable energy integration, supported by regulatory efforts to establish a sustainable energy mix, will be a driving force behind the market growth.

Europe Transformer Core Segmentation

Europe Transformer Market Size, By Core, 2021 - 2032 (USD Billion)

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Europe transformer market from the closed core segment crossed USD 2.9 billion in 2022, owing to the versatility in managing various voltage conditions. Their ability to facilitate the integration of renewable energy sources while maintaining long-lasting and efficient operational lifespans has played a significant role in the sector's expansion. Nonetheless, the advancement of innovative coil technologies and rising emphasis on energy efficiency has given rise to the introduction of diverse alternative core technologies that deliver substantial enhancements in both efficiency and performance when compared to conventional closed-core units.

Europe Transformer Winding Segmentation

The auto transformer market is set to experience tremendous growth, primarily owing to its superior transformation capabilities and operational flexibility in comparison to its rivals. Significant factors propelling the adoption of this product encompass its streamlined design, cost-efficiency, and enhanced effectiveness. Moreover, the incorporation of intelligent monitoring technologies has heightened product dependability and cost-efficiency, thus making a substantial contribution to the Europe transformer market expansion.

Europe Transformer Product Segmentation

Growing investments in infrastructure, combined with favorable regulations overseeing the revitalization and enlargement of current grid systems, have resulted in a significant upswing in the demand for power transformers. The swift urbanization and ongoing industrial expansion in emerging economies will additionally fortify the expansion of business activities in this field. Furthermore, the escalating requirement for modernizing and renewing aging electrical networks throughout Europe has cultivated a conducive industrial setting.

Europe Transformer Insulation Segmentation

Oil-insulated units have remained one of the oldest insulation technologies in use since the inception of transformers within the electrical infrastructure. Their strong insulation capabilities, high-temperature resilience, and sustainable applicability have driven demand for these products. However, the rapid advancement of technology has introduced more sophisticated insulation technologies, which could potentially impede Europe transformer market growth.

Europe Transformer Cooling Segmentation

The market demand for oil-immersed power transformers is increasing significantly because of their excellent compatibility with high-voltage applications and superior cooling capabilities when compared to dry transformers. This technology has established a strong presence in the market over time, primarily due to its effective cooling attributes and ease of installation. Nevertheless, it's crucial to acknowledge that issues related to product leakage, health considerations, and fire hazards may serve as limiting factors for the demand for these transformers in the foreseeable future.

Europe Transformer Rating Segmentation

The market for transformers with a rating of ≤ 10 MVA is expected to experience significant growth due to their extensive use across various sectors, including process industries, power generation, and infrastructure. The swift adoption of renewable energy sources in residential settings, along with the rapid expansion of micro-grid networks, will have a favorable impact on the Europe transformer market.

Europe Transformer Mounting Segmentation

Pad-mounted distribution transformer units have gained substantial market acceptance due to the requirement for efficient base foundations and grounding arrangements when installing larger units. These units have been widely employed in various industries and utility settings, primarily due to the necessity of having transformers located in close proximity to where they are used.

Europe Transformer Application Segmentation

Germany Transformer Market Revenue Share, By Application, 2022

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The residential application is set to grow at a CAGR of over 9.7% through 2032. The business environment is poised to be influenced by swift urbanization and supportive government initiatives that encourage the integration of renewable energy into residential areas. The growing uptake of on-site electricity generation technologies and continuous efforts to implement smart control networks will additionally boost the Europe transformer market development.

Europe Transformer Country Analysis

 UK Transformer Market Size, 2021 - 2032 (USD Billion)

The transformer market across UK held a market share of over 12% in 2022. The UK has been actively transitioning to renewable energy sources, such as wind and solar power. This transition requires the development and integration of power transformers to support the transmission and distribution of renewable energy. Like many countries in Europe, the UK has implemented energy efficiency regulations and directives that impact transformer design and performance. Manufacturers are focusing on producing more energy-efficient transformers to meet these requirements.

Europe Transformer Industry Leaders

Some of the major key players operating across the Europe transformer market are General Electric, Siemens Energy, Mitsubishi Electric Corporation, ABB, Schneider Electric, Trench Group, Toshiba International Corporation, Elsewedy Electric, Eaton, CG Power & Industrial Solutions Ltd., IMEFY GROUP, Ormazabal, ARTECHE, Pfiffner Group, Kirloskar Electric Company, DAIHEN Corporation, Celme S.r.l. and Hyosung Heavy Industries.

Europe Transformer Industry News:

  •   In January 2022, GE received an order of two 1,200 MVA 400 kV transformers from Scottish and Southern Energy Plc (SSE) for the Kintone substation. Currently, SSE is upgrading the Scottish distribution network from 275 kV to 400kV and developing wind farms in the north coast to provide electricity to customers.
  • In September 2019, IMEFY launched its new distribution transformer at Energetab, a Polish fair for the energy sector. The new three phase dielectric liquids immersed transformer complies with the European EcoDesign regulations and mitigates the high voltage effect, thus protecting the devices connected on low voltage supply.

This market research report on Europe transformer includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in ‘000 Units & USD Million from 2019 to 2032, for the following segments:

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By Core

  • Closed
  • Shell
  • Berry

By Product

  • Distribution Transformer
  • Power Transformer
  • Instrument Transformer
  • Others

By Winding

  • Two Winding
  • Auto Transformer

By Cooling

  • Dry Type
  • Self Air
  • Air Blast 
  • Oil Immersed
  • Self Cooled
  • Water Cooled
  • Forced Oil
  • Others

By Insulation

  • Gas
  • Oil
  • Solid
  • Air
  • Others

By Rating

  • ≤ 10 MVA
  • > 10 MVA to ≤ 100 MVA
  • > 100 MVA to ≤ 600 MVA
  • > 600 MVA

By Mounting

  • Pad
  • Pole
  • Others

By Application

  • Residential
  • Commercial & Industrial
  • Utility

The above information is provided for the following countries:

  • Germany
  • France
  • Russia
  • UK
  • Italy
  • Spain
  • Netherlands


Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market valuation of transformer in Europe was reached USD 9.5 billion in 2022 and is projected to grow at a CAGR of 8.7% through 2032, favored by the growing deployment of renewable energy.

The closed core segment was valued at USD 2.9 billion in 2022 and will continue to grow owing to their ability to facilitate the integration of renewable energy sources while maintaining long-lasting and efficient operational lifespans.

The residential application is set to register at a 9.7% CAGR between 2023 and 2032, influenced by rapid urbanization and supportive government initiatives that encourage the integration of renewable energy into residential areas.

Elsewedy Electric, Eaton, CG Power & Industrial Solutions Ltd., IMEFY GROUP, Ormazabal, ARTECHE, Pfiffner Group, Kirloskar Electric Company, DAIHEN Corporation, Hyosung Heavy Industries, and Celme S.r.l. among others.

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  • Base Year: 2022
  • Companies covered: 18
  • Tables & Figures: 801
  • Countries covered: 7
  • Pages: 300
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