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Power Transformer Market Size By Core (Closed, Shell, Berry), By Winding (Two Winding, Auto-Transformer), By Installation (Outdoor, Indoor), By Cooling (Dry Type {Self-Air, Air Blast}, Oil Immersed {Self-Cooled, Water Cooled, Forced Oil}), By Insulation (Gas, Oil, Solid, Air), By Phase (Three Phase, Single Phase), By Rating (< 100 MVA, 101 MVA to 500 MVA, 501 MVA to 800 MVA, > 800 MVA), By Mounting (Pad, Pole, PC/PCB), By Application (Residential & Commercial {Hotels, Hospitals, Societies}, Utility, Industrial {Railways, Cement, Power, Oil & Gas}), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI128
  • Published Date: Jan 2021
  • Report Format: PDF

Industry Trends

Power Transformer Market size exceeded annual installation of 6,000 units in 2020 and is anticipated to register over 5% CAGR between 2021 and 2027. Increasing refurbishment demand for conventional grid infrastructure along with growing investments toward infrastructural spending will drive the business scenario. Large scale renewable energy integration coupled with introduction of electrification programs across developed and developing economies will further complement the industry outlook. In addition, favorable government norms and policies toward the upgradation of existing T&D networks followed by ongoing commissioning of high voltage power cable lines will fuel the business landscape.

Power Transformer Market
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Wide applicability across high voltage networks and harsh operating conditions will strengthen the shell type power transformers demand

Power Transformer Market

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Shell type power transformers will witness growth on account of its compact design, short circuit reliability and easy transportation. Increasing applicability of these units across severe operating conditions coupled with rising deployment at critical nodes across high voltage transmission networks will positively stimulate the industry statistics. In addition, high dielectric current ability followed by high mechanical & thermal performance and improved magnetic flux technology will complement the product adoption.

Effective power transformation ability of the auto power transformers will drive the technology demand

Ability to minimize ohmic and core losses on account of transformer material reduction along with propensity to provide enhanced voltage regulation will boost the auto power transformer market share. Lower product cost, compact size and light weightiness when compared to its counterparts will drive the product adoption. Smart monitoring technologies integration across the large T&D networks to avoid the systems failures will improve the grid reliability & security, thereby complementing the industry outlook.

Growing adoption of outdoor transformers on account of its high reliability and safety will propel the product demand

Outdoor power transformer market is anticipated to surpass USD 13 billion by 2027. Extensive suitability of these units across high voltage application areas coupled with limited material requirements will augment the industry demand. Minimization of fire hazards, low maintenance cost and optimum cooling strength will further boost the technology deployment. Ongoing expansion of cross-country networks in line with introduction of extra-high power HVAC & HVDC transmission technologies for long distance electricity transmission will in turn propel the business scenario.

Robust electricity demand across large industrial sectors will drive the 101 MVA – 500 MVA power transformers demand

101 MVA – 500 MVA power transformer market is anticipated to witness significant growth on account of their low installation cost, compact size, and extensive electricity demand across healthcare, power, and oil & gas industries. Rising deployment of these units across electrical substations and generating stations for power conversion will further augment the industry forecasts. Growing requirement of advanced transformer units to fulfill the seismic and severe load conditions will complement the business potential.

Growing inclination toward safe, reliable and environment friendly electrical equipment will positively sway the industry scenario

Air insulated power transformers will witness an appreciable market penetration owing to their safe, reliable & flexible product applications. Applicability of these units across offshore wind farms subject to its ability to limit internal failure effects and avoid combustibility will further enhance the product adoption. Stringent government norms and policies to deploy environment friendly and zero carbon emission electrical equipment will complement the industry landscape.

Applicability of pole mounted transformers across long-distance power transmission lines will drive the industry scenario

Pole mounted power transformer market exceeded USD 4 billion in 2020 and is estimated to register more than 6% CAGR through 2027. Applicability of these units across distant load centers and limited grid accessibility will fuel the product demand. Ease of installation on single pole structures followed by compact size and long product life cycle will escalate the product installation, thereby reducing vandalism and minimizing the risk of injury to animals. Ability to service urban’s residential & commercial load will further propel the technology demand.

Ongoing upgradation of conventional T&D networks will complement the product installation across various applications

Growing inclination toward the integration of wide-ranging electrical distribution links along with rising energy demand will positively stimulate the residential and commercial power transformer market statistics. Increasing public and private investments for electrification programs along with favorable government norms toward incorporation of renewable sources across the power networks will further thrust the industry trends.

Ongoing retrofitting and restructuring of the existing electrical grid coupled with increasing cross-border and inter-state power network expansion will significantly propel the utility based power transformer market trends. Growing emphasis toward the deployment of energy-efficient equipment along with ongoing development of renewable power sources corridors across developing nations will complement the product demand.

Rising focus toward meeting the growing power demand will drive the Asia Pacific power transformer industry size

Asia Pacific Power Transformer Market

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Asia Pacific power transformer market outlook is anticipated to witness an upsurge owing to steady and continuous penetration of sustainable power sources coupled with increasing focus toward upgradation of aging electrical infrastructure. In addition, recent enhancements across asset health monitoring system to establish the system security & reliability along with rising investments toward the expansion of long-distance T&D networks will fuel the industry dynamics. Stringent regulatory framework toward grid modernization in line with endowments, fund allocation and support mechanisms provided by the state-owned utilities will further drive the industry demand.

Government efforts to enhance the exiting power infrastructure and capacity to meet the increasing electricity demand will propel the Japan power transformer industry share. Increasing electrification rate along with rising government funding toward the development of new transmission lines will foster the business scenario. Rapid urbanization and industrialization along with growing focus toward renewable powered electric infrastructure will further propel the industry scenario.

Product integrated research and development coupled with bulk manufacturing to influence the industry competence will fuel the business landscape

Key participants operating across the power transformer market comprise of Siemens, ABB, BHEL, Mitsubishi, Celme, Kirloskar Electric, Schneider, SPX Transformers, Crompton Greaves, Voltamp, Hyundai Heavy Industries, Hammond Power Solutions, Daihen, Toshiba, GE, Hyosung, and amongst others. Leading industry players are focusing toward integration of smart technologies along with digital solutions to deploy energy efficient systems. In addition, technological collaborations coupled with predictive maintenance and condition monitoring to ensure safe and reliable operations will propel the product demand.

Impact of COVID-19 on the industry is minimum owing to increasing electricity demand across the industrial and healthcare sector. However, decline in raw material supplies across the globe may hamper the business scenario. Moreover, continuous advancement toward development of T&D infrastructure will propel the industry landscape.

Power 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 Winding

  • Two Winding
  • Auto Transformer

By Installation

  • Outdoor
  • Indoor

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 Phase

  • Single Phase
  • Three Phase

By Rating

  • < 100 MVA
  • 101 MVA to 500 MVA
  • 501 MVA to 800 MVA
  • > 800 MVA

By Mounting

  • Pad
  • Pole
  • PC/PCB
  • Others

By Application

  • Residential & Commercial
    • Hotels
    • Hospitals
    • Societies
    • Others
  • Utility
  • Industrial
    • Hotels
    • Hospitals
    • Societies
    • Others

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Russia
    • UK
    • Italy
    • Spain
    • Netherlands
    • Austria
    • Denmark
    • Sweden
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • New Zealand
    • Malaysia
    • Indonesia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Egypt
    • South Africa
    • Nigeria
    • Kuwait
    • Oman
    • Israel
    • Turkey
  • Latin America
    • Brazil
    • Peru
    • Argentina
    • Mexico


Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market for power transformers reached an annual installation of over 6,000 units in 2020 which will rise at a 5% CAGR through 2027 owing to increasing investments toward infrastructure refurbishment.

The outdoor power transformer market share is anticipated to reach a value of USD 13 billion by 2027 due to the extensive adoption across high voltage applications along with limited material requirements.

Pole mounted power transformer industry size reached more than USD 4 billion in 2020 and is likely to record a 6% CAGR up to 2027.

The power transformer market in Asia Pacific is anticipated to grow at an exponential growth rate through 2027 with higher demand for sustainable power sources and the focus toward upgradation of aging electrical infrastructure.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 16
  • Tables & Figures: 2451
  • Countries covered: 34
  • Pages: 1050

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