Middle East & Africa High Voltage Power Transformer Market Size - By Rating (SPT (≤ 60 MVA), LPT (> 60 MVA)), By Cooling (Dry Type, Oil Immersed), By Application (Commercial, Industrial, Utility), Country Insights & Forecast, 2024 – 2032

Middle East & Africa High Voltage Power Transformer Market Size

Middle East & Africa High Voltage Power Transformer Market was valued at USD 3.7 billion in 2023 and is expected to grow at a CAGR of 7.2% during 2024 to 2032. Rapid urbanization, industrialization, and infrastructure development initiatives necessitate robust electricity transmission networks, fueling demand for high voltage power transformers.
 

Additionally, the region's increasing investments in renewable energy projects and grid modernization efforts contribute to market growth. The Middle Eastern countries experienced a 57% rise in solar and wind capacity between May 2022 and May 2023, with expectations of continued growth in the foreseeable future. With a focus on enhancing energy efficiency and reliability, coupled with government initiatives to expand electricity access, the industry is poised for significant expansion in the future.

COVID–19 Impact

The COVID-19 pandemic disrupted the Middle East & Africa high voltage power transformer market, leading to supply chain disruptions, project delays, and decreased demand due to economic uncertainties. Despite challenges, the market exhibited resilience, buoyed by ongoing infrastructure projects, renewable energy investments, and government initiatives, albeit with some slowdowns in implementation.
 

Middle East & Africa High Voltage Power Transformer Market Trends

Middle East & Africa high voltage power transformer industry is anticipated to grow exponentially owing to the ongoing shift towards energy efficiency and sustainability, leveraging IoT and advanced analytics for predictive maintenance. Interconnection projects and eco-friendly insulation materials are gaining traction, while the expansion of renewable energy storage solutions alongside transformers is enhancing grid stability.
 

Middle East & Africa High Voltage Power Transformer Market Analysis

The oil immersed cooling segment held around 60% of the market share in 2023. This method offers several advantages, including efficient heat dissipation, enhanced insulation properties, and greater reliability in harsh environmental conditions prevalent in the region. Oil-immersed cooling ensures stable transformer operation and prolonged lifespan, making it well-suited for high voltage applications. Additionally, its robust design minimizes maintenance requirements and reduces the risk of equipment failure, thus driving the preference for oil-immersed cooling technology in the Middle East & Africa.
 

The high voltage power transformers are available in various power ratings including small power transformer (≤ 60MVA) and large power transformer (> 60MVA). The large power transformers market is expected to grow at a CAGR of over 7% through 2032, fueled by numerous advantages inherent in the technology. Moreover, they offer unparalleled reliability and durability, minimizing downtime and maintenance costs. As regional nations prioritize energy infrastructure modernization, the demand for these high-capacity transformers escalates, positioning them as pivotal components in advancing power distribution networks.
 

The Saudi Arabia high voltage power transformer market is projected to reach over USD 1.9 billion by 2032, owing to country's increasing demand for electricity due to industrialization and urbanization, which in turn fuels the need for reliable power infrastructure. Additionally, government initiatives aimed at expanding and modernizing the energy sector contribute to market growth. The integration of renewable energy sources and the development of smart grids further stimulate demand for high voltage power transformers, positioning Saudi Arabia as a key market in the region.
 

Middle East & Africa High Voltage Power Transformer Market Share

Siemens Energy holds a significant market share in the Middle East & Africa high voltage power transformer industry due to its advanced technology, reliability, and extensive experience in providing power solutions. Siemens Energy's innovative transformer designs and commitment to sustainable energy solutions have solidified its position as a preferred supplier for utility companies and infrastructure projects across the region.
 

Middle East & Africa High Voltage Power Transformer Market Companies

Major participants operating across the Middle East & Africa high voltage power transformer industry are:

• ABB
• Abaft Middle East Transformer
• alfanar Group
• Elsewedy Electric
• Emirates Transformer and Switchgear Ltd
• EUROGULF TRANSFORMERS
• Federal Transformers Company LLC
• General Electric
• Hyosung Heavy Industries
• HD HYUNDAI ELECTRIC CO., LTD.
• Hitachi Energy Ltd
• LS ELECTRIC Co., Ltd
• Matelec Group
• Mitsubishi Electric Corporation
• SGB SMIT
• Siemens Energy
• The Saudi Transformer Co. Ltd.
• Toshiba Energy Systems & Solutions Corporation
• WEG
   

Middle East & Africa High Voltage Power Transformer Industry News

• In January 2023, HD Hyundai Electric signed a contract worth USD 8.5 million to export its power transformers to Oman. The company supplied three units of 400 kV ultra-high pressure power transformers, each with a capacity of 500MVA, to the Oman Electricity Transmission Company (OETC). In addition, this contract marks a significant step in enhancing Oman’s power transmission capabilities and supporting its electricity infrastructure.
   
• In February 2021, Hitachi Energy was awarded a contract by TE?A?, the Turkish transmission system operator, for a grid expansion project valued at USD 20 million. As per the agreement, Hitachi ABB Power Grids' transformer division provided various power transformers, including units rated at 62.5 MVA and 100 MVA, functioning at 154 kV. These top-tier transformers enhanced Turkey's power infrastructure, enhancing energy accessibility in remote regions.
   

This Middle East & Africa high voltage power transformer market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume and revenue in Units and USD Million from 2019 to 2032, for the following segments:

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Market, By Cooling

• Dry Type
• Oil Immersed

Market, By Rating

• SPT (≤ 60 MVA)
• LPT (> 60 MVA)

Market, By Application

• Commercial
• Industrial
• Utility

The above information has been provided for the following countries:

• Saudi Arabia
• UAE
• Qatar
• Egypt
• South Africa
• Nigeria