Europe Cast Resin Transformer Market Size - By Winding, By Rating, By Application, Growth Forecast, 2025 - 2034

Europe Cast Resin Transformer Market Size

The Europe cast resin transformer market was estimated at USD 1 billion in 2024. The market is expected to grow from USD 1.1 billion in 2025 to USD 2.6 billion in 2034, at a CAGR of 9.8%, according to Global Market Insights Inc.
 

• The rising adoption of renewable energy, driven by global sustainability targets and decarbonization initiatives, is accelerating infrastructure upgrades. Government incentives for green energy projects are boosting demand for cast resin transformers in solar and wind installations across Europe.
   
• Increasing urbanization across Europe is driving demand for compact, fire-safe transformers suitable for indoor use. These transformers, with their dry-type design and minimal maintenance needs, are ideal for high-density cities, supporting reliable power distribution in commercial buildings, hospitals, and underground substations.
   
• Ongoing expansion of smart grid infrastructure will boost demand for digitally integrated transformers. Growing technological innovations including IoT and remote monitoring systems, enable real-time diagnostics and predictive maintenance, enhancing grid reliability and operational efficiency in modern energy networks.
   
• For instance, the European Commission’s June 2025 guidance on anticipatory investments highlights the strategic expansion of smart grid infrastructure across the EU. It outlines a projected need for over USD 850 billion in distribution and approximately USD 560 billion in transmission grid investments by 2040. The initiative promotes digitally integrated systems, including IoT-enabled diagnostics and remote monitoring, to enhance grid reliability and operational efficiency. These upgrades directly support the deployment of advanced components like cast resin transformers in modern energy networks.
   
• Growth in offshore and onshore wind farms is increasing the need for environmentally safe transformers. These transformers, with their resistance to harsh conditions, are preferred for renewable installations ensuring safe and efficient power conversion in remote and coastal areas.
   
• For instance, the European Commission’s Offshore Renewable Energy Strategy outlines ambitious targets to expand offshore wind capacity to 60 GW by 2030 and 300 GW by 2050. This expansion necessitates robust, environmentally safe transformer technologies capable of operating in harsh marine conditions. The strategy emphasizes coordinated grid planning and investment in resilient infrastructure, directly supporting the deployment of cast resin transformers for safe and efficient power conversion in remote and coastal wind installations.
   
• Rising energy efficiency regulations across Europe will boost the adoption of low-loss transformer technologies. These transformers are designed with high-efficiency cores and optimized insulation, which in turn help meet regulatory standards while reducing operational costs and supporting national energy conservation goals.
   

Europe Cast Resin Transformer Market Trends

• The Europe cast resin transformer industry is experiencing significant growth, driven by the rising demand for sustainable energy solutions. Growing adoption of eco-friendly transformers along with the digitalization and smart grid initiatives will propel the business landscape. These advancements are contributing to the development of more intelligent and adaptive energy infrastructures capable of meeting evolving energy needs.
   
• These transformers significantly enhance power reliability and operational resilience in data center environments by offering superior fire resistance, reduced maintenance needs, and compact, sealed construction. Their robust design minimizes the risk of failure, supports faster fault isolation, and contributes to greater system responsiveness.
   
• Growth in battery energy storage systems (BESS), driven by grid modernization and renewable integration will increase the demand for transformers to handle dynamic load profiles. These transformers are well-suited for energy storage applications owing to their ability to operate reliably under fluctuating conditions seamless integration with solar and wind energy.
   
• For instance, the European Commission’s September 2025 article on energy storage solutions emphasizes the growing role of battery energy storage systems (BESS) in supporting grid modernization and renewable integration. As the EU targets 42.5% renewables by 2030, the need for flexible infrastructure—including transformers capable of handling dynamic load profiles—is rising. These transformers ensure reliable operation under fluctuating conditions and enable seamless integration with solar and wind energy, making them essential for modern energy networks.
   
• Increasing focus on fire safety in public infrastructure will propel the demand for dry-type cast resin transformers. With self-extinguishing properties and no risk of oil leakage these transformers comply with stringent safety standards, making them suitable for schools, hospitals, and government buildings.
   
• Growth in modular and prefabricated substations is driving demand for compact, customizable transformers. Cast resin transformers, easily integrated into modular designs, support rapid deployment and scalability, especially in remote or temporary installations requiring efficient and safe power solutions.
   
• Increasing electrification in rural and remote areas will augment the business demand for durable, low-maintenance transformers. These transformers are resistant to moisture and dust, and are ideal for challenging environments, supporting reliable power distribution in off-grid and semi-urban regions.
   
• For instance, the International Energy Agency’s Energy for Rural Transformation (ERT) program highlights efforts to improve electricity access in remote and rural areas through grid extension and renewable-based mini-grid systems. The initiative supports the deployment of durable, low-maintenance transformers suited for challenging environments, including solar PV installations and biogas plants. These transformers are essential for reliable power distribution in off-grid regions, where resistance to moisture and dust is critical for long-term performance.
   
• The rise of industrial zones and logistics hubs across Europe is fueling demand for high-capacity power solutions. Cast resin transformers, with their modular architecture and superior load-handling capabilities, are emerging as a preferred choice for energy-intensive commercial environments. Their compact design and fire-resistant insulation make them ideal for indoor installations, while their ability to operate under fluctuating loads ensures consistent power delivery.
   
• The growing deployment of smart substations is accelerating the need for digitally advanced transformer solutions. These systems contribute to predictive maintenance and operational efficiency, while also supporting adaptive load management and rapid fault response. Ongoing modernization of infrastructure will fuel the demand for these transformers, they play a pivotal role in building resilient and data-driven energy networks.
   
• Furthermore, rising electricity demand across Europe is accelerating grid expansion and modernization efforts. These dry-type units ensure stable and scalable power distribution across rapidly growing urban and industrial zones. Their low maintenance requirements and environmental safety features make them ideal for sustainable infrastructure development.
   
• For instance, the European Commission’s October 2024 article on energy infrastructure investment emphasizes the importance of expanding access to clean and reliable electricity across all regions, including rural and remote areas. The EU’s Grid Action Plan projects a 60% increase in electricity consumption by 2030, prompting significant investment in durable infrastructure. This includes transformers designed to withstand moisture and dust, ensuring low-maintenance, stable power distribution in off-grid and semi-urban environments.
   

Europe Cast Resin Transformer Market Analysis

• Based on winding, the industry is segmented into two winding and auto transformer. The two-winding segment led the market with a 66.4% share in 2024 and is projected to grow at a CAGR of 9.2% through 2034.
   
• The surge in electrification across Europe, driven by industrial decarbonization and digitalization, is accelerating demand for two winding cast resin transformers. These units are essential for reliable medium-voltage distribution in modern grids. According to the IEA (2025), electricity demand rose 4.3% in 2024, outpacing GDP growth due to increased use of AI, EVs, and cooling systems. This trend necessitates robust transformer infrastructure to support grid reliability and scalability.
   

• Two winding transformers are critical for integrating decentralized renewable energy sources into the grid. Their insulation and fire safety features make them ideal for urban and renewable installations. The IEA’s 2025 report highlights that renewables generated 50% of EU electricity in 2024, with grid investment exceeding USD 70 billion to accommodate this shift. This investment directly supports the deployment of cast resin transformers for safe and efficient energy transmission.
   
• European efforts to localize transformer manufacturing and reduce dependency on imports are boosting demand for two winding cast resin transformers. The IEA notes that transformer procurement times doubled between 2021 and 2025 due to global supply chain bottlenecks. This has prompted EU stakeholders to invest in domestic production and resilient grid components, favoring cast resin designs for their ease of installation and reduced maintenance in constrained environments.
   
• Autotransformers offer a cost-effective solution for voltage regulation in high-capacity transmission systems. Their compact design and reduced copper usage make them attractive for large-scale grid upgrades. The IEA’s 2025 investment report indicates that EU grid spending doubled over the past decade, driven by the need to transmit renewable electricity efficiently across regions. Autotransformers are increasingly deployed in these projects to optimize cost and performance.
   
• The expansion of electric vehicle infrastructure across Europe is creating demand for autotransformers in high-voltage charging networks. Their ability to handle large power flows with minimal losses is vital for EV supercharging stations. The IEA’s Global EV Outlook 2025 reports a 25% increase in EU electric car production in 2024, with Tesla and Ford leading growth. This trend supports the deployment of autotransformers in EV grid integration.
   
• Autotransformers are increasingly used in industrial electrification projects for efficient load management and voltage control. As industries shift to electric processes, transformer technology must adapt. The IEA’s Global Energy Review 2025 highlights that industrial electricity consumption surged in 2024 due to electrification and AI-driven automation. Autotransformers, with their high efficiency and scalability, are well-suited to meet these evolving industrial demands.

• Based on application, the European cast resin transformer market is segmented into industries, inner-city substations, indoor/underground substations, renewable generation, and others. The industries segment accounted for a 39.6% market share in 2024 and is projected to expand at a CAGR of 9.1% from 2025 to 2034, driven by increasing industrial electrification, automation, and demand for energy-efficient power distribution solutions across manufacturing and processing sectors.
   
• The increasing electrification of industrial operations across Europe is a key driver for cast resin transformer adoption. These transformers offer high reliability, low maintenance, and enhanced safety, making them ideal for automated and high-load environments. As industries transition to electric-powered machinery and smart manufacturing systems, the demand for medium-voltage distribution solutions like cast resin transformers continues to rise, supporting operational efficiency and sustainability goals.
   
• According to the IEA’s 2025 report Building the Future Transmission Grid, procurement lead times for large transformers in Europe have doubled since 2021 due to supply chain bottlenecks and rising component costs. This has prompted industrial stakeholders to invest in resilient, locally sourced transformer technologies. Cast resin transformers, with their modular design and reduced reliance on oil-based systems, are increasingly favored for industrial infrastructure upgrades amid these challenges.
   
• The modernization of urban power infrastructure is a major driver for cast resin transformer deployment in inner-city substations. These transformers are preferred for their compact design, fire safety, and low maintenance, making them ideal for densely populated areas. As cities expand and upgrade aging electrical systems, cast resin transformers offer a reliable solution for medium-voltage distribution, especially in locations with strict environmental and safety regulations.
   
• According to the IEA’s World Energy Investment 2025 report, Europe is accelerating grid investments, with over USD 65 billion allocated in 2023 alone to enhance interconnection and urban power systems. This surge is driven by rising electricity demand in cities due to electrified transport, cooling, and digital infrastructure. Cast resin transformers are increasingly deployed in inner-city substations to meet these demands while ensuring operational safety and spatial efficiency.
   
• The increasing need for compact and safe power solutions in urban environments is driving the adoption of cast resin transformers in indoor and underground substations. These transformers are ideal for enclosed spaces due to their dry insulation, low fire risk, and minimal maintenance. As cities densify and infrastructure moves underground, cast resin transformers offer a reliable solution for medium-voltage distribution in metro stations, tunnels, and commercial buildings.
   
• According to the IEA’s 2025 report Building the Future Transmission Grid, procurement lead times for large transformers in Europe have doubled since 2021 due to supply chain bottlenecks and rising component costs. This has led to increased prioritization of modular, locally sourced transformer technologies for underground substations. Cast resin transformers, with their ease of installation and reduced reliance on oil-based systems, are increasingly favored in constrained and critical infrastructure projects.
   
• The rapid deployment of decentralized renewable energy systems across Europe is driving demand for cast resin transformers. These transformers are ideal for solar and wind installations due to their fire safety, moisture resistance, and compact design. As renewable generation increasingly occurs near consumption points, cast resin transformers enable efficient medium-voltage distribution while meeting environmental and operational standards in both rural and urban settings.
   
• According to Eurostat, renewable sources accounted for 46.9% of the EU’s net electricity generation in 2024, with wind and hydro leading the mix. This surge reflects Europe’s aggressive clean energy transition, which requires reliable and safe transformer technologies at generation sites. Cast resin transformers are increasingly deployed in renewable projects to support grid integration, reduce fire risk, and ensure long-term operational efficiency under variable environmental conditions.

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• The UK cast resin transformer market size exceeded USD 157 million in 2024. This upward trend is driven by increasing investments in grid modernization, industrial electrification, and renewable energy integration. The transformers’ fire safety, compact design, and low maintenance make them ideal for urban and industrial applications. Additionally, supply chain localization and sustainability goals are accelerating domestic adoption across key sectors.
   
• Germany’s aggressive push toward renewable energy is driving demand for cast resin transformers, which are ideal for safe, efficient integration into decentralized grids. Their fire-resistant, compact design suits urban and industrial installations. According to the IEA’s Germany 2025 report, the country aims to achieve 80% renewable electricity consumption by 2030, supported by smart grid upgrades and distributed energy systems.
   
• Germany’s transition away from coal and Russian gas is accelerating industrial electrification, increasing the need for reliable transformer infrastructure. Cast resin transformers are preferred for their low maintenance and environmental safety. The IEA notes that Germany’s energy strategy now prioritizes infrastructure development and integrated planning to support clean energy competitiveness and security amid geopolitical risks.
   
• Italy’s increasing reliance on solar and wind energy is driving demand for cast resin transformers, which are ideal for decentralized grid applications. Their fire safety and compact design make them suitable for renewable installations in both rural and urban areas. As Italy expands its distributed energy network, cast resin transformers are being deployed to ensure efficient medium-voltage distribution and grid stability across diverse geographic zones.
   
• According to Italy’s Integrated National Energy and Climate Plan (INECP) published by the Ministry of Environment and Energy Security, the country is investing heavily in grid infrastructure to support its 2030 climate targets. This includes modernization of substations and deployment of advanced transformer technologies. Cast resin transformers are favored for their environmental safety and operational reliability, aligning with Italy’s goals for sustainable and resilient energy systems.
   
• Spain’s leadership in solar and wind energy is driving demand for cast resin transformers, which are ideal for decentralized and environmentally sensitive installations. Their dry-type insulation and fire safety features make them suitable for rural and urban renewable sites. As Spain continues to expand its distributed generation capacity, cast resin transformers are increasingly deployed to ensure safe and efficient medium-voltage power distribution.
   
• According to Spain’s Energy and Climate Plan 2023–2030, the country aims to reach 74% renewable electricity generation by 2030, with significant investments in grid infrastructure and smart technologies. This strategic shift is accelerating the deployment of cast resin transformers, which support safe, low-maintenance, and compact power solutions for both new and upgraded substations across Spain’s evolving energy landscape.
   
• France’s growing urban electrification needs are driving demand for cast resin transformers, especially in densely populated areas. Their fire-resistant, compact, and low-maintenance design makes them ideal for inner-city substations and underground installations. As cities modernize aging infrastructure, cast resin transformers are increasingly deployed to meet safety regulations and space constraints while ensuring reliable medium-voltage distribution.
   
• According to France’s Multiannual Energy Plan (PPE), the government is investing heavily in grid modernization to support its 2030 decarbonization targets. This includes upgrading substations and integrating renewable energy sources. Cast resin transformers are favored for their environmental safety and operational efficiency, aligning with France’s strategy to build a resilient, low-carbon power system.
   

Europe Cast Resin Transformer Market Share

• The top 5 companies in the Europe cast resin transformer industry are Siemens, GE Vernova, Hitachi Energy, Fuji Electric and Schneider Electric contributing around 50% of the market in 2024.
• GE Vernova commands a notable position in the European cast resin transformer market through its focus on energy-efficient and grid-resilient solutions. Its transformers are widely used in renewable energy and EV infrastructure projects. As of Q2 2025, GE Vernova held over 51% market share in the electric equipment segment, reflecting its dominance in power distribution technologies across Europe.
   
• Hitachi Energy has strengthened its market share in Europe by investing $180 million in a new transformer facility in Finland, aimed at supporting renewable and industrial electrification. Its cast resin transformers are preferred for their reliability and environmental safety. These strategic expansions align with Europe’s energy transition goals, positioning Hitachi Energy as a key supplier in the region’s evolving power infrastructure.
   
• Schneider Electric maintains a strong foothold in Europe’s cast resin transformer market by offering sustainable, smart-grid-ready solutions. Its transformers are widely deployed in commercial and industrial sectors due to their low maintenance and high safety standards. As a top market participant, Schneider Electric benefits from rising demand for eco-friendly transformers and digital energy systems across Europe.
   

Europe Cast Resin Transformer Market Companies

• In 2024, Siemens Energy generated USD 40.5 billion in revenue, reflecting its strong global position in the energy sector. The company posted a gross profit of USD 5.3 billion, supported by a diverse business portfolio. With USD 1.4 billion invested in R&D, Siemens Energy reinforced its commitment to innovation, focusing on sustainable power technologies and advancing the energy transition through next-generation solutions in grid and transformer systems.
   
• GE Vernova reported a strong 2024 performance, securing USD 44 billion in new orders and generating USD 35 billion in revenue across its business segments. The company delivered over USD 1 billion in free cash flow and expanded its USD 119 billion backlog, driven by operational efficiency and improved margin quality. These results underscore GE Vernova’s strategic strength in power systems, including cast resin transformers for renewable and industrial applications.
   
• Fuji Electric achieved USD 7.25 billion in net sales for FY 2024, marking a 1.8% year-over-year increase. Operating profit rose 10.9% to USD 759 million, while ordinary profit reached USD 766 million, up 10.1%. Profit attributable to owners surged 22.4% to USD 595 million, driven by improved margins and operational efficiency. These gains reflect Fuji Electric’s growing role in energy-efficient technologies, including cast resin transformers for industrial and infrastructure markets.
   

Major players operating in the Europe cast resin transformer industry are:

• AM Transformers
• Bharat Heavy Electricals
• Bowers Electrical
• CG Power & Industrial Solutions
• Eaton
• Emirates Transformer and Switchgear
• Fuji Electric
• GE Vernova
• Hitachi Energy
• Kirloskar Electric
• LS ELECTRIC
• Raychem RPG
• Schneider Electric
• SGB SMIT
• Siemens Energy
• TMC Transformers
• Toshiba Energy Systems
• URJA Techniques
• WEG
   

Europe Cast Resin Transformer Industry News

• In November 2024, General Electric expanded its Power Transmission Services network by launching new units in Stafford (UK), Dubai, Toluca, Padappai, and Suzhou. These additions complement existing service hubs in Europe, Turkey, and Canada, enhancing support for high-voltage switchgears and transformers. The expansion enables faster, localized access to maintenance, spare parts, and emergency services, optimizing operational uptime and reinforcing GE’s global leadership in transformer servicing and modernization.
   
• In July 2024, Hitachi Energy announced an investment exceeding USD 86 million to expand its transformer facility in Córdoba, Spain, as part of a USD 1.5 billion global initiative. The expansion, scheduled for completion in 2027, will increase the facility’s footprint to over 32,000 square meters, enhance production capabilities, and create up to 75 new jobs. This move supports Europe’s clean energy transition and strengthens Hitachi’s regional manufacturing presence and economic impact.
   
• In July 2024, Siemens Energy partnered with TenneT to reduce the carbon footprint of its transformer production in Nuremberg. The initiative’s first milestone was the use of 100% recycled copper in transformer manufacturing. Siemens committed to supplying TenneT exclusively with green copper-based units, aiming to cut 100 metric tonnes of CO? per transformer and save 6,500 tonnes by 2030, aligning with its broader goal of reducing value chain emissions by 30%.
   

The Europe cast resin transformer market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (‘000 Units) and revenue (USD Million) from 2021 to 2034, for the following segments:

Market, By Winding

• Two winding
• Auto transformer

Market, By Rating

• ≤ 5 MVA
• > 5 MVA to ≤ 30 MVA
• > 30 MVA

Market, By Application

• Industries
• Inner-city substations
• Indoor/underground substations
• Renewable generation
• Others

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

• Germany
• UK
• Italy
• Spain
• Netherlands
• France
• Austria
• Sweden