North America Transformer Market Size – By Core, By Product, By Winding, By Cooling, By Insulation, By Rating, By Mounting, By Application, Analysis, Share, Growth Forecast, 2025 – 2034
Report ID: GMI6941
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Published Date: February 2025
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Report Format: PDF
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Base Year: 2024
Companies covered: 18
Tables & Figures: 11
Countries covered: 3
Pages: 115
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North America Transformer Market
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North America Transformer Market Size
The North America transformer market was valued at USD 18.1 billion in 2024 and is expected to reach USD 37.1 billion by 2034, growing at a CAGR of 7.3% from 2025 to 2034. Ongoing modernization of aging power infrastructure along with increasing need to enhance efficiency and reliability of grids will influence the industry penetration.
Rapid investment in digital solutions, energy storage systems, and smart grid networks will encourage the adoption of transformer systems. Growing shift toward renewable energy sources including wind and solar, ensuring efficient & effective energy transmission from these renewable projects to the grid will proliferate the transformer market growth.
Rapid adoption of these transformer to fulfill the demand and capable of handling power loads across industrial electrification and charging stations will create favorable industry scenario. Large-scale industries including data centers, oil & gas, and manufacturing require high electricity demand to cater their energy needs will augment the overall industry trend.
Supportive stringent efficiency mandates are promoting the deployment of low-loss transformer systems coupled with their eco-friendly design with lower carbon footprints will escalate the product penetration. In addition, surging demand for hyperscale data center to deliver reliable and uninterrupted power supply will spur the industry outlook.
Increasing shift to AI driven and cloud computing operations in line with continuous expansion of power infrastructure across emerging geographies will positively influence business growth. Moreover, escalating demand for extra high voltage and ultra-high voltage transformer to cater increased power loads will foster the industry momentum.
North America Transformer Market Trends
Favorable government policies and funding schemes toward power infrastructure and grid resilience are strengthening the transformer deployment. State and federal level mandates for disaster preparedness & efficient infrastructure are accelerating key industry players & utilities to invest robust or economically viable transformer technologies, thereby enhancing the industry growth.
Continuous enhancement in improved grid stability, reduce maintenance costs, and optimize load management in tandem with rapid integration of predictive analytics, IoT, and remote monitoring capabilities into transformer will bolster the business potential. Furthermore, commercial buildings, renewable energy projects, and industries are focusing on high efficiency & minimal maintenance solutions, which in turn will stimulate the North America transformer market dynamics.
Utilities are continuously expanding transmission networks to encourage the energy flow across respective countries, which require advanced transformer systems to cater electricity demand, thereby boosting the business landscape. Moreover, the region is anticipating a surge in domestic production of transformer to reduce dependence on import will propel the favorable industry opportunity.
Burgeoning investment from utilities and industry players in disaster-resistant transformer to tackle extreme related events comprising of wildfires and hurricanes will boost the product deployment. Rising demand for mobile and modular transformer solutions in line with manufacturers are diversifying their sourcing strategies & investing in domestic facilities will boost the supply chain infrastructure.
North America Transformer Market Analysis
North America Transformer Market Share
North America Transformer Market Companies
Major players operating in the North America transformer industry are:
North America Transformer Industry News
The North America transformer market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (‘000 Units) & revenue (USD Million) from 2021 to 2034, for the following segments:
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Market, By Core
Market, By Product
Market, By Winding
Market, By Cooling
Market, By Insulation
Market, By Rating
Market, By Mounting
Market, By Application
The above information has been provided for the following countries: