Global Power Transformer Market Projected to Reach USD 34.6 Billion by 2024

Power Transformer Market propelled by construction of latest power generating plants

With the rising electricity consumption all over the world, the need for the installation of transformers is propelling. Moreover continues technological advancement is witnessed in the manufacturing of transformers. Global power transformer market is witnessed to be propelling on the back of new power generation and transmission facilities being developed across the world. Global Electric transmission & distribution market is anticipated to reach a market size of USD 312 billion by 2024. According to Goldstein Research, global power transformer market size is expected to reach USD 34.6 billion by 2024, growing at a compound annual growth rate of 5.7% during the forecast period 2016-2024. Global power transformer market segmentation has been carried out on the basis of power rating, insulation type, application, end user, and geography. Based on insulation type, liquid type segment alone accounted for 70.0% market share in 2016.

In the current market scenario, the global smart grid market is fuelling up, whereas the transformers that play a key role in the collection & distribution of energy, are not accordingly smart enough. Thus the transformers manufacturers are considering the situation and focusing on manufacturing of new generation transformers for successful smart energy transmission. Further, Global power transformer industry is estimated to be dominated by the Asia Pacific with a market share of 26.0% in 2016 owing to increase investments in the energy sector & urbanization across the region.

Market Segmentation

On the basis of our in-depth analysis, Global Power Transformer Market can be segmented as follows:

  • By Power Rating
    • Small Power Transformers (5-40 MVA)
    • Medium Power Transformers (40-250 MVA)
    • Large Power Transformers (Above 250 MVA)
  • By Insulation Type
    • Dry-Type
    • Liquid-Type
  • By Application
    • Power Generation
    • Power Transmission
  • By End User
    • Energy and Utility Sector
    • Industrial Sector
    • Infrastructure 
  • By Region
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}


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“Global Power Transformer Market Outlook 2024” contains a detailed overview of the global power transformer market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by power rating, insulation type, application and end user.

Further, for the in-depth analysis, Global Power Transformer Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as ABB, Alstom, Siemens, General Electric (GE), Schneider Electric, ASEA Brown Boveri Group, Crompton Greaves Ltd., Hyundai Heavy Industries Co. Ltd., Mitsubishi Electric Corporation, Tebian Electric Apparatus, Bharat Heavy Electricals Limited, Toshiba Corporation, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global power transformer industry trends along with a market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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