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 To 500 MVA, 501 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, 2020 – 2026

Published Date: Dec 2019  |  Report ID: GMI128  |  Authors: Ankit Gupta, Abhigyan Tathagat

Report Format: PDF   |   Pages: 1030   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global Power Transformer Market size was valued at over USD 25 billion in 2019 and is anticipated to witness an annual installation of over 42 thousand units by 2026.

Global Power Transformer Market

Get more details on this report - Request Free Sample PDF

Power transformer is a static apparatus working on two or more windings which, through electromagnetic induction, transform a system of alternating current and voltage into another system of current and voltage usually of different values operating at the same frequency for the transmission of electrical power. Th study incorporates a detailed analysis of the power transformer installation trends in various countries & regions across residential, commercial, industrial & utility applications. Furthermore, the study is aligned with information published by governing authorities including IEA, EU, ENDSO, DOE, ITA, CEA, & company press releases.

Power Transformer Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 25.4 Billion (USD)
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 5.8% 2026 Value Projection: 37.7 Billion (USD)
Pages: 1030 Tables, Charts & Figures: 2430
Geographies covered (34): U.S., Canada, Mexico, Germany, France, Russia, UK, Italy, Spain, Netherlands, Austria, Denmark, Sweden, China, Japan, South Korea, India, Australia, New Zealand, Malaysia, Indonesia, Saudi Arabia, UAE, Qatar, Egypt, South Africa, Nigeria, Kuwait, Oman, Israel, Turkey, Brazil, Peru, Argentina
Segments covered: Core, Winding, Installation, Cooling, Insulation, Phase, Rating, Mounting, Application
Companies covered (17): ABB Limited, SPX Transformer, Celme, Kirloskar Electric, Hyosung Power & Industrial Systems, BHEL, Daihen Corporation, General Electric, Siemens AG, Schneider Electric, Mitsubishi Electric, Toshiba Corporation, CG Power, Hyundai Heavy Industries, Hammond Power Solutions, Voltamp Transformers
Growth Drivers:
  • North America
    • Refurbishment demand for existing grid infrastructure
    • Rising infrastructural spending
  • Europe
    • Growing deployment of renewable energy
    • Upgradation of existing grid network
  • Asia Pacific
    • Large-scale renewable integration
    • Increasing demand of electricity
  • Middle East and Africa
    • Increasing demand for electricity
    • Growing investment toward expansion of transmission networks.
Pitfalls & Challenges:
  • High initial cost

Get more details on this report - Request Free Sample PDF

Increasing integration of renewables to the grid will fuel the demand for efficient power transformers

Increasing regulatory focus toward the adoption of sustainable energy sources to promote emission reduction has instigated the power transformer demand. Ambitious renewable targets coupled with redundancy toward the expansion of conventional electrical networks have instituted a favorable business scenario. Stringent government policies toward the establishment of sustainable energy mix across industries adhered by the utility-aided large-scale renewable expansion will further proliferate the business outlook. Positive outlook toward renewable integration coupled with the rapid enhancements across the existing transmission networks will considerably drive the power transformer market growth.

Extensive applicability in high voltage applications and harsh operating conditions strengthen the demand for shell power transformers

Japan Power Transformer Industry By Core

Get more details on this report - Request Free Sample PDF

Compact design, easy transportation and short circuit reliability are some of the vital parameters that will boost their demand of shell type power transformers. Increasing applicability across harsh operating conditions along with growing deployment at critical nodes in high voltage transmission networks, all types of power generating stations including nuclear plants with high reliability requirements and strictest quality will amplify the industry size. Moreover, high dielectric, mechanical and thermal performance in alignment with better control of the leakage magnetic flux will stimulate the product adoption.

Ability to provide effective power transformation to augment the auto power transformer market demand

Ability to reduce ohmic & core loss owing to the reduction of transformer material in conjunction with the propensity to provide improved voltage regulation will drive the auto transformer market growth. Compact size, light weightiness and lower cost when compared to its available alternatives are some of the key features that will fuel the product adoption. Moreover, integration of smart monitoring technologies to avoid systems failures will enhance the system reliability & security, thereby augmenting the industry growth.

Limited material requirements when compared to its counterparts will stimulate the adoption of outdoor power transformers

Outdoor power transformers will grow over 5% by 2026. Extensive suitability across high voltage application areas along with limited material requirements will spur the industry demand. Elimination of concerns pertaining to fire hazards, optimum cooling strength aligned with limited maintenance requirements when compared to its counterparts will boost the product deployment. In addition, ongoing expansion of cross-border networks along with the introduction of ultra-high power HVDC & HVAC transmission technology for long distance transmission will further boost the product demand

Propensity to enable safe & reliable operation will positively influence the air insulated transformers

Air insulated power transformers have gained appreciable market penetration subject to their safe & reliable operations and flexible product applications. Ability to avoid combustibility, environment friendly operations and limit secondary effects of internal failure has enhanced the product adoption. It allows complete integration of substation equipment with resultant space and cost savings, thereby fueling the product penetration.

Robust demand from an extensive range of applications is driving the 100 MVA– 500 MVA transformers growth

100 MVA– 500 MVA transformers will witness growth owing to their compact size, low installation cost and extensive demand across healthcare, electric power, and oil & gas industries. Increasing deployment of these units at generating stations and electrical substations for converting electrical power to high voltages for transmission will further drive the industry growth.

Ability to cater the long-distance power transmission to positively influence pole mounted installations

Pole mounted transformers will witness substantial adoption on account of distant load centers across limited grid accessibility. Easy installation on single pole structures and reasonably compact size will escalate the product adoption, thereby minimizing vandalism and reducing the risk of injury to animals. Pole mounted transformers have gained market penetration owing to their ability to service rural and urban residential & commercial loads.

Ongoing upgradation of existing electrical networks will stimulate the product deployment across various applications

Growing emphasis toward the integration of broad-ranging frequency distribution links coupled with the rising energy-efficiency concerns will stimulate the residential & commercial power transformer market size. Increasing investments by private and governmental organizations for electrification programs will further complement the industry trends. In 2014, the African government launched “Beyond the Grid sub-Initiative” to support off-grid electricity access to achieve its goal of adding 60 million new residential & business connections by 2030.

Ongoing retrofitting of the existing networks along with growing cross-border electrical network expansion will significantly drive utility power transformer growth. Increasing emphasis on the development of energy-efficient and renewable electricity corridors across varied nations will further stimulate the product demand.

Increasing focus toward meeting the burgeoning power demand will boost the Asia Pacific industry size

North America Power Transformer Market Statistics Segmentation By Rating, 2026 (USD Million)

Get more details on this report - Request Free Sample PDF

The North America market outlook will witness substantial growth on account of steady penetration of sustainable energy sources along with enhanced focus toward upgrading the aging power infrastructure. Moreover, recent advancements in the asset health monitoring systems to ensure the system security & reliability in line with accelerating investments toward the development of long-distance transmission networks will propel the industry dynamics. The stringent framework on grid modernization coupled with support mechanisms and endowments provided by state-owned utilities will further propel the industry growth.

Enhanced government efforts to augment exiting power capacities & infrastructure to meet the burgeoning electricity demand will foster the overall Asia Pacific power transformer industry growth. Increased electrification rate coupled with government funding toward the establishment of new transmission lines will boost the industry size. In November 2019, ADB approved USD 300 million toward the expansion of transmission lines across Bangladesh. Rapid urbanization & industrialization across emerging economies along with focus toward sustainable electric infrastructure will provide a thrust to business growth.

Product integrated R&D along with bulk manufacturing to lay influence on industry competence

Key participants catering to the power transformer industry comprise of ABB, Siemens AF, BHEL, Celme, Kirloskar Electric, Mitsubishi, Toshiba, Schneider, SPX, Voltamp, Hammond Power Solutions, Hyundai Heavy Industries, Crompton Greaves, General Electric, Daihen, Hyosung, amongst others. Industry players are focusing toward integrating smart technologies and digital solutions to promote energy efficient systems. Moreover, technological collaborations along with predictive maintenance & condition monitoring to ensure safe & reliable operations is becoming a focal point for leading giants.

Power transformer market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” and “USD” from 2015 to 2026, 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
  • 3 - phase

By Rating

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

By Mounting

  • Pad
  • Pole
  • PC/PCB
  • Others

By Application

  • Residential & Commercial
    • Hotels
    • Hospitals
    • Apartments
    • Others
  • Utility
  • Industrial
    • Railways
    • Cement
    • Power distribution
    • Oil & gas
    • Others

The above information is provided on a regional & country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • 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
    • South Africa
    • Nigeria
    • Egypt
    • Kuwait
    • Oman
    • Israel
    • Turkey
  • Latin America
    • Brazil
    • Peru
    • Argentina

Frequently Asked Questions (FAQ) :

The valuation of power transformer market in the year 2018 was USD 25 bn.
The power transformer market is expected to witness a remuneration of USD 37 bn in 2026.
Power transformer is a static apparatus working on two or more windings which, through electromagnetic induction, transform a system of alternating current and voltage into another system of current and voltage usually of different values operating at the same frequency for the transmission of electrical power.
The global industry for power transformer will secure more than 5.8% CAGR from 2020 to 2026, according to a new report published by Global Market Insights, Inc.
Major challenges likely to impact the global market size include high initial cost and dependency on imports.

Buy NowImmediate delivery available

Need a Discount? Get in touch with us for special pricing

Request Discount

Connect with our sales team

Premium Report Details

  • Published Date: Dec 2019
  • Pages: 1030
  • Tables: 2390
  • Charts / Figures: 40
  • Companies covered: 17
  • Countries covered: 34

Benefits of Association

Data Coverage & Quality

GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.

Client Trust & Security

GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.

Customer Service

Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.

GMIPulse, our report store

We have introduced ‘GMIPulse’, which is our report store; designed to offer clients a one-stop platform for all market research and business intelligence requirements. Clients can access reports, presentations, raw data excel sheets as well as detailed company profiles. GMIPulse allows you to track relevant industries and stay informed with latest innovation, competitive and regulatory developments to help design strategic framework.

Chat with us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X