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U.S. Transformer Market Size By Core (Closed, Shell, Berry), By Product (Distribution Transformer, Power Transformer, Instrument Transformer), By Winding (Two Winding, Auto Winding), By Cooling (Dry Type, Oil Immersed), By Insulation, Rating, Mounting, Application & Forecast, 2023 - 2032

  • Report ID: GMI5801
  • Published Date: May 2023
  • Report Format: PDF

U.S. Transformer Market Size

U.S. Transformer Market size surpassed USD 10.3 billion in 2022 and is anticipated to expand at 7% from 2023 to 2032.

U.S. Transformer Market

Rapid expenditure toward distribution networks including smart grids and smart meters to sustain and replace the aging infrastructure to maintain the quality of service. Smart grid development project undertaken across the region will push the industry growth. Numerous research programs are being initiated to develop advanced technologies for optimum grid operations. In addition, stringent norms and policies pertaining to the provision of cost-efficient uninterrupted electricity has been a key area for the regulators, which in turn will stimulate the business dynamics.

COVID-19 Impact

The COVID-19 pandemic had a severe impact on the growth of the transformers industry because of a considerable decrease in the demand for commercial and industrial power. There have been serious international and national lockdowns as a result of COVID-19's moderate effects on many nations. Further, ongoing power distribution projects were halted, and under-construction projects were pushed back. Lower demand for power distribution equipment and negative growth for equipment manufacturing companies were the results of these project suspensions.

U.S. Transformer Market Trends

The United States transformer market is principally determined by the revamping of the existing grid infrastructure and modernization. The U.S. Department of Energy defines the electrical grid to comprise an ecosystem of manufacturers, asset owners, federal, state, and local government entities, and service providers. The Office of Electricity Delivery & Energy Reliability (OE) has been working with private and public partners to strengthen, improve, and transform their energy infrastructure to ensure access to secure, clean, and reliable energy resources. Factors, for instance, expanding energy demands from businesses and redesigning old transmission and circulation frameworks are possible going to drive the business growth.

U.S. Transformer Market Analysis

U.S. Transformer Market Size, By Core

The closed core transformer industry size is expected to observe 6% growth during 2023-2032. These transformers have gained extensive penetration owing to their versatile application in varying voltage conditions. Renewable integration capacities along with efficient operational life expectancy have further escalated the market growth. It produces high quality electrical grade, regularize the voltage in circuits, have stable life span are some of the features, which will complement the product demand. In addition, ongoing technological advancements including diversity, Distribution System Operators and Transmission System Operators generally impart a high quality and reliability of supply will further augment the industry statistics.

U.S. Transformer Market Size, By Core,

The refurbishment and expansion of existing grid networks have instill an upsurge the demand for power transformers in the U.S. Rapid urbanization together with the continuous industrial expansion across the developing economies will foster the business growth in future. The nation's need for power transformers has increased because of industrialization, infrastructure development, and construction work. Rising energy demand and growing accent on the production of renewable electric power are the two primary factors driving the U.S. transformer market development.

The auto winding transformer have gained significant upthrust owing to operational flexibility in comparison to its available counterparts. Growing technological maturity and rapid functional enhancements may further restrain the product espousal. Additionally, contingent upon winding, the auto transformer segment ruled the worldwide industry, and is projected to stay the fastest developing segment during the estimated time frame. This is credited to increased demand for auto transformer as they are more productive, require less copper and more modest in size, subsequently are cost-effective when compared with double wound transformers.

Over the recent years, dry type transformers have gained significant operational safety and competitive cost structure when compared to their available substitutes. The industry presence of these transformers across high voltage application is still in its developing stage, which indicates productive growth opportunities for U.S. transformer market.

Oil-insulated units have been among the most primitive insulation technologies ever since the introduction of transformers in the electrical infrastructure. Effective insulation capabilities, high temperature bearing strength, and sustainable product applicability have fostered the product demand. However, rapid technological enhancements have led to the introduction of advanced insulation technologies, which may hamper the industry growth.

U.S. Transformer Market Size,

10 MVA rated transformer market is anticipated to witness a considerable growth owing to its wide applications across process industries, power, and infrastructure sectors. The ongoing integration of sustainable sources across the residential deployments coupled with the expeditious expansion of microgrid networks will positively influence the business landscape. Expanding these networks along with the increased investments toward retrofitting and modernization of the existing grid structure will steer the business growth. The rising investments toward the integration of electricity generated from renewable sources into the grid.


Pole-mounted units have gained the majority market penetration on account of large-scale installation to cater to the long-route electrical supply. Distant load centers across country with limited grid access find an immense potential for technological development. Developing interest for household power circulation, modern power distribution directly affects the development of the pole mounted transformer.

Development of energy efficient corridors to promote product adoption will stimulate the transformer market demand for residential application in the U.S. Ongoing urbanization coupled with favorable regulatory reforms toward residential integration will drive the business landscape. Enhanced on-site power generation technologies along with rapid smart control networking initiatives will further complement the product demand. Additionally, rise in demand for power from manufacturing units and residential application sector are anticipated to fuel of industry market trends in future.

U.S. Transformer Market Share

Strategic partnerships and collaborations among major players will fuel the transformers industry growth across the U.S. The major market players are focusing on energy efficiency, smart grid, industrialization, and expansion of the transmission & distribution facilities with new product innovations and acquisitions has amplified the demand for transformers.

Leading market players across the U.S. transformer market include

  • Siemens
  • ABB
  • General Electric
  • Schneider Electric
  • Mitsubishi Electric Corporation
  • Panasonic Corporation
  • Hitachi, Ltd
  • Emerson Electric Co.
  • Eaton Corporation PLC
  • Toshiba
  • Olsun Electrics Corporation
  • Daelim Belefic
  • MGM Transformer Company
  • Prolec-GE Waukesha, Inc.
  • JSHP Transformer

U.S. Transformer Industry News

  • In January 2023, A contract for 3,500 distribution transformers for USD 86.3 million was signed by Hyundai Electric America Corp., the South Korean company's Atlanta-based sales division, and American Electric Power (AEP). AEP plans to install the equipment in Texas, Ohio, and Oklahoma, three states where it delivers power. As a result, such power transmission line investments are projected to increase demand for transformers, which would ultimately propel the transformer market over the forecast period.
  • For instance, In April 2022, Siemens launched CAREPOLE, its dry-type single phase transformer for pole applications. This transformer is a reliable alternative to oil-filled transformers. These transformers are maintenance free, environment friendly, and are designed to handle high overloads that satisfy the real-time demand. CAREPOLE has a life span of over 25 years with a power rating of 10-100 kVA, and a voltage capacity of 15-36 kV.
  • In October 2021, Prolec Transformers Inc, a subsidiary of GE acquired SPX Transformer Solutions Corporation. for strengthening its footprints in Americas and offering sustainable electric equipment to customers. The combined entities planned to support the evolution of advanced grids in the U.S. and other Americas by offering effective energy solutions.

This market research report on U.S. transformer includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in ‘000 Units & USD Million from 2019 to 2032, for the following segments:

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Market, By Core

  • Closed
  • Shell
  • Berry

Market, By Product

  • Distribution Transformer
  • Power Transformer
  • Instrument Transformer
  • Others

Market, By Winding

  • Two-winding
  • Auto winding

Market, By Cooling

  • Dry Type
  • Self-Air
  • Air Blast 
  • Oil Immersed
  • Self-Cooled
  • Water Cooled
  • Forced Oil
  • Others

Market, By Insulation

  • Gas
  • Oil
  • Solid
  • Air
  • Others

Market, By Rating

  • ≤ 10 MVA
  • > 10 MVA to ≤ 100 MVA
  • > 100 MVA to ≤ 600 MVA
  • > 600 MVA

Market, By Mounting

  • Pad
  • Pole
  • Others

Market, By Application

  • Residential
  • Commercial & Industrial
  • Utility


Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of U.S. transformer exceeded USD 10 billion in 2022 and will record a 7% CAGR during 2023 to 2032, with significant expenditure on transmission & distribution networks to sustain & replace the aging infrastructure.

The auto winding transformer segment is poised to capture a prominent industry share in the United States by 2032, as a result of their improved productivity, less copper requirement, modest size, and cost-effectiveness.

U.S. transformer industry size from the closed core segment is anticipated to expand at 6% growth rate from 2023-2032, owing to its renewable integration capacity along with efficient operational life expectancy.

U.S. pole-mounted transformer sector will expand steadily over 2023-2032, on account of the ability of equipment to cater to the long-route electrical supply, along with deployment of modern power distribution networks.

Major companies operating in the U.S. transformer industry are Siemens, ABB, General Electric, Schneider Electric, Mitsubishi Electric Corporation, Panasonic Corporation, Hitachi, Ltd, Emerson Electric Co., Eaton Corporation PLC., among others.

U.S. Transformer Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 122
  • Countries covered: 1
  • Pages: 100
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