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, Single), 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, 2017 – 2024

Published Date: Oct 2017  |  Report ID: GMI128  |  Authors: Ankit Gupta, Aditya Singh Bais

Report Format: PDF   |   Pages: 690   |   Base Year: 2016

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Power Transformer Market in 2016 surpassed an annual installation of 14’000 units and is predicted to exceed USD 35 billion by 2024.

U.S. Power Transformer Industry Size, By Core, 2016 & 2024 (USD Billion)

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Transformer industry in the recent years has witnessed upsurge owing to the increasing demand for electricity and favourable regulatory reforms toward the expansion of the existing grid infrastructure. Furthermore, efforts to enhance energy efficiency coupled with the increasing electrical losses have positively influenced the demand for capacity expansion and technological enhancements. Manufacturers, through comprehensive R&D activities and inorganic strategic implications have been strengthening their industry presence. Henceforth, extensive industrial strategies along with the rapid integration of cost-competitive and efficient products will drive the power transformer market.

Power Transformer Market Report Coverage
Report Coverage Details
Base Year: 2016 Market Size in 2016: 14’000  units 
Historical Data for: 2013 to 2016 Forecast Period: 2017 to 2024
Forecast Period 2017 to 2024 CAGR: 5% 2024 Value Projection: 35 Billion (USD)
Pages: 690 Tables, Charts & Figures: 1784
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 and Region
Companies covered (15): ABB, General Electric, Eaton, Schneider Electric, Siemens AG, Crompton Greaves, Hyundai Electric, Mitsubishi Electric, Toshiba Corporation, BHEL, Hyosung Power & Industrial Solutions, Kirloskar Electric, SPX Transformer, Celme, Daihen Corporation
Growth Drivers:
  • North America
  • Refurbishment of 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 & Africa and Latin America
  • Increasing demand for electricity
  • Growing investment toward expansion of transmission networks
Pitfalls & Challenges:
  • High initial cost

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Power Transformer Industry, By Core

Shell core transformers, in the recent years have gained extensive penetration owing to sustainable transformation capacities and effective operational life expectancy. Low flux leakage & iron losses and higher mechanical strength in comparison to their available counterparts will further enhance the business dynamics. However, advanced smart systems coupled with measures pertaining to energy efficient environment have led to the adoption of a variety of alternative core technologies.

Power Transformer Market, By Winding

Operational flexibility & effective transformation in comparison to its competitive counterparts, will stimulate the auto power transformer market share. Sustainable costs, higher efficiency and compact unit structure are the key factors which will encourage the product penetration. Furthermore, the integration of smart monitoring technologies has enhanced the reliability and cost-effectiveness of the products, which will foster the business growth.

Power Transformer Market, By Installation

Indoor transformers enhance the operability, reduce maintenance, and sustain the aesthetic proximity of the peripherals. Manufacturers in the current industrial scenario have introduced units with automated self-assessment features which further ease the end user to effectively handle and avoid minor operational disturbances. In addition, technological precision and rigorous research & development has led manufacturers to avail component variants with varied insulation, rating and similar operational features at competitive prices and compact size.

Power Transformer Industry, By Cooling

Oil immersed power transformer market in 2016, valued over USD 15 billion. Efficient compatibility across high-tension establishments coupled with better cooling properties, in comparison to its dry counterparts will augment the product demand. Over the years, the technology has witnessed significant penetration owing to its ease-of-installation and optimum cooling strength. However, health, fire and leakage hazards associated with these products may restrain the technological adoption.

Power Transformer Market, By Insulation

Solid insulation has gained a marginal industry penetration on account of the significant competitive influence from traditional insulation units & low customer apprehension. However, the product is anticipated to witness a steep progression owing to its compact configuration, effective cost structure and insulating property. Consequent integration of digital monitoring systems coupled with enhanced product flexibility will fuel the industry growth.

Power Transformer Market, By Phase

Three-phase transformers on account of their efficient feasibility across large-scale industrial developments and utility-aided distribution infrastructure possess the major revenue share. However, rising demand for high ampacity & power reliability across the industrial processes including mining and oil & gas will positively influence the industry landscape. In addition, the effective long-distance electrical supply capacity coupled with lower line losses will further boost the product demand.

Power Transformer Industry, By Rating

Germany Power Transformer Industry Size, By Rating, 2016 - 2024 (Units)
Germany Power Transformer Industry Size, By Rating, 2016 - 2024 (Units)

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100 MVA to 500 MVA units are anticipated to gain considerable growth on account of its wide applications across power sectors and process industries. Ongoing incorporation of renewable sources across the residential establishments in line with the expeditious expansion of micro-grid infrastructure will positively sway the business landscape. Growing demand for compact units for indoor applications along with the cost-sensitive customer behaviour has compelled manufacturers to adopt a sustainable production mechanism.

Power Transformer Industry, By Mounting

Pole mounted power transformers in 2016, exceeded an annual installation of 5’000 units. These units have gained the majority market penetration owing to the large unit deployment to cater to the long-distance electrical supply. Distant load centres across regions with limited grid access find an immense potential for technological development. In addition, high space constraints across suburban areas have profoundly adopted mounting technology.

Power Transformer Market, By Application

Increasing focus on the incorporation of wide-ranging frequency distribution links along with the growing concerns for energy-efficiency will stimulate the industrial power transformer market size. Rising demand for ultra-high voltage networks of will further boost the product demand. Increasing investments by private and governmental organizations in the developing countries for electrification programs will further complement the industry growth.

Power Transformer Industry, By Region

Asia Pacific Power Transformer Industry Size, By Country, By 2024 (USD Million)
Asia Pacific Power Transformer Industry Size, By Country, By 2024 (USD Million)

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The industry has witnessed an inclination in the product demand due to the increased spending for the development of long-distance electric networks. In 2017, The United States Government has planned to invest amount worth USD 10 billion to establish new distribution infrastructure which will substantially decrease the curtailment rate across the Western transmission network. Growing emphasis on the restoration of the traditional electrical equipment with enhanced high-quality technologies will further energize the product demand.

Competitive Market Share

Eminent industry participants include Celme, SPX Transformer, Daihen, Kirloskar, Hyosung, BHEL, Hyundai Electric, Toshiba, Mitsubishi Electric, Schneider Electric, Crompton Greaves, Siemens, Eaton, GE and ABB.

Power Transformer Industry Background

A power transformer is a static component utilized to transform electricity across the secondary & primary circuits based on mutual induction. The primary function includes transmission of electricity between circuits having minimum variation across potential difference and power frequency. The basic characteristic of these units is to step up the potential among two attached circuits or vice-versa.

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