North America Oil Filled Transformer Market Size By Core (Closed, Shell, Berry), By Product (Distribution Transformer, Power Transformer, Instrument Transformer), By Winding (Two Winding, Auto Transformer), By Installation (Outdoor, Indoor), By Modes of Cooling (Oil Natural Air Natural (ONAN), Oil Natural Water Forced (ONWF), Oil Natural Air Forced(ONAF)), By Phase (Three, Single), By Mounting (Pad, Pole, Foundation), By Rating (< 5 MVA, 5 MVA to 10 MVA, > 10 MVA), By Substation Connectivity (Distribution, Transmission), By Application (Residential & Commercial, Utility, Industrial), Industry Analysis Report, Country Outlook, Covid-19 Impact Analysis, Application Potential, Competitive Market Size & Forecast, 2021 - 2027

Industry Trends

North America Oil Filled Transformer Market size surpassed USD 7 billion in 2020 and is set to register over 4% CAGR between 2021 and 2027. Oil filled transformers are those whose windings and magnetic circuits are immersed in oil that has good electrical insulating properties to block the flow of current through the oil and efficiently removes heat from the core and windings. Upgradation of existing power networks coupled with expansion of smart grid will complement the business scenario.
 

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North America oil filled transformer industry is set to witness significant growth on account of increasing demand for the integration of renewables and distributed energy technologies. Surging installation of advanced electrical equipment with an aim to minimize the line losses is set to boost the product demand. In addition, upgradation of transformers with advanced materials & technologies to withstand extreme weather conditions and improve frequency & voltage control during system emergencies will drive the industry landscape.
 

High investments across industrial and utility sector will drive the closed core segment of North America oil filled transformer market statistics

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Closed core segment of North America oil filled transformer market is estimated to surpass USD 3 billion by 2027. The product has gained significant penetration across the industry landscape owing to its versatile applicability across varying voltage conditions. Renewable transformation capacities in line with efficient operational life expectancy have escalated business growth. Paradigm shift toward energy efficient technologies along with evolution of advanced coil technologies will energize the industry dynamic.
 

Increasing infrastructural spending backed by favourable norms pertaining to the expansion and refurbishment of existing grid networks have instil an upsurge in the demand for oil filled distribution transformers. Rapid commercialization along with ongoing industrial expansion will positively impact the business outlook.
 

Integration of smart monitoring technologies will propel the demand for auto transformers

Auto oil filled transformer market is set to grow at a rate of over 5% through 2027. The product integrates key advantages including compact unit structure, sustainable costs, and higher efficiency which inclines the customers toward the adoption of these units. Integration of smart monitoring technologies has enhanced the reliability and cost-effectiveness of the products, which will stimulate the product demand. Moreover, the construction of special auto transformers with automatic tap-changing equipment for long rural power distribution lines will energize the industry dynamic.
 

Ongoing expansion of cross-border networks will stimulate the demand for oil filled transformers

North America oil filled transformer market from outdoor segment is estimated to exceed USD 8 Billion by 2027. Rapid development of high-tension electrical networks to meet the rising electricity demand will propel the business scenario. Introduction of ultra-high power HVDC & HVAC transmission technology for long distance transmission in line with ongoing expansion of cross-border networks will favor the business scenario.
 

ONAF cooling based oil filled transformers will gain adoption on account of their ability to cool transformers with rating up to 60 MVA. These have high coefficient of conduction thereby resulting in the natural circulation of the oil and provides better conduction than air.
 

Three phase oil filled transformer market will grow on account of increasing funding toward high-capacity power distribution networks

North America oil filled transformer market from three phase segment is set to register over 4% CAGR through 2027. Wide scale utilization of product across large-capacity industrial establishments and utility-aided electricity networks will accelerate the business growth. These units are preferred for large power distribution and are applicable in fields of electrical power systems consisting power transmission, generation & distribution. The growing demand for high ampacity and power reliability across the industrial processes including mining and oil & gas will positively sway the industry landscape.
 

Pad mounted segment is estimated to exceed USD 3 Billion by 2027. These transformers are utilized for medium voltage distribution systems and serves residences and small businesses. Reduced land requirement, enhanced safety, improved aesthetics and low installation cost are some of the key parameters that enhances the product adoption.
 

Large scale integration of renewable energy resources will positively influence the market trends

Rapid adoption of renewable sources across the residential establishments coupled with expansion of micro-grid networks will foster the < 5 MVA rated segment of North America oil filled transformers market. The growing demand for green transformers coupled with the cost-sensitive consumer behavior has compelled manufacturers to integrate a sustainable production mechanism. Flourishing real estate sector along with increasing urbanization rate across the developing nations will escalate the product demand.
 

Oil filled transformer deployment is set to witness growth on account of regulatory measures toward the expansion of high voltage grid networks for long distance power supply. The novel corona virus (COVID-19) outburst represents an exclusive disturbance in the global trade and world economy as consumption and production are scaled back worldwide. However, respective government measures to resume the operations across major industries, manufacturing facilities and infrastructure projects will complement the business scenario.
 

U.S. market anticipated to witness growth owing to development of long-distance transmission networks

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U.S. and Canada hold the majority share of over 80% in 2020. Increased spending toward the development of long-distance transmission networks along with ongoing replacement of the existing electrical equipment with advanced high-quality systems will complement the industry outlook. Electric utilities are extensively investing toward the upgradation of the existing grid which will further propel the product demand.
 

Government efforts toward the expansion of electricity networks including inter and intra-regional transmission lines & cables will complement the U.S. oil filled transformer market. For instance, the PSEG Long Island, in 2018 proposed Western Nassau Transmission Project worth USD 176 million in New York, which aims to construct a second circuit transmission line between the Valley Stream substation, Lynbrook and East Garden City substation, Uniondale which was in service by December 2020.
 

Product innovation and partnerships will act as a crucial point for market participants

Eminent companies are focusing on technological advancements along with partnerships and acquisitions to meet the predominant competition in the industry. The manufacturers laying importance on economies of scale and forward integration for nourishing quality standards. Major participants in North America oil filled transformer market include Hitachi ABB Power Grids, General Electric, WEG, Siemens, SPX Transformer Solutions, Toshiba Corporation, ERMCO, Hyosung Heavy Industries, Schneider Electric, Eaton, Atlas Transformer, Northern Transformer, L/C Magnetics and DOS Canada.
 

North America oil filled transformer market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2017 to 2027, for the following segments:

By Core

• Closed
• Shell
• Berry

By Product

• Distribution Transformer
• Power Transformer
• Instrument Transformer
• Others

By Winding

• Two Winding
• Auto Transformer

By Installation

• Outdoor
• Indoor

By Modes of Cooling

• ONAN
• ONWF
• ONAF
• Others

By Phase

• Three
• Single

By Mounting

• Pad
• Pole
• Foundation
• Others

By Rating

• < 5 MVA
• 5 MVA - 10 MVA
• > 10 MVA

By Substation Connectivity

• Distribution
• Transmission

By Application

• Residential & Commercial
• Utility
• Industrial

The above information has been provided for the following country:

• U.S.
• Canada
• Mexico