Transformer Market Gains Momentum With Expansion of T&D Network as Electricity Grows

The residential and commercial establishments worldwide require a continuous and safe flow of electricity. With the global demand for electricity rising at an exploding rate, the demand for an efficient transmission and distribution (T&D) network is also on a constant rise. The electricity demand is met on the back of strong support of the rapidly expanding T&D network, thereby fuelling the demand for T&D equipment such as transformers. The global transformer market is thus witnessing steadfast progress.

Undergoing a significant transition, the world of power supply is adopting a shift to renewables, as a result of which the investments flowing into the renewable energy sector are outweighing that in the conventional power generation segment. In line with growing integration of renewable energy sources on to the grid, and rising employment of distributed technologies, utilities ought to undergo system upgrades to maintain power quality, maintain real-time supply-demand balance, and ensure sufficient distribution infrastructure capacity.

Transformer Market Becomes a Vital Link Between Electrical Source and Application

If electrical energy at the power plant were just transmitted directly through those large overhead cables that cross the landscape, then as the energy travelled over distance it would be used up in the effort. To avoid line losses, and voltage drop in lines, transmission of electrical power is carried out at the maximum voltage. It makes sense to ship high-voltage electricity from the power station and then transform it to lower voltages when it reaches its various destinations. It is also necessary to maintain terminal voltages at the terminals of the load. Voltage drops on lines should not be greater than a specified limit. According to the standard distribution system, voltage variation to load should not be greater than ±10 of rating of load. Otherwise, load does not work properly and it may further damage load permanently.

Transformers serve to step-up voltage at the generation end and step-down voltage at the user end. Transformers at the generating power plant are used to step up the voltage to the level required to transport electrical energy over long distances. They are found again at substations along the way where the depleted power is given another step-up boost for the next leg of the journey. When the electrical energy finally reaches its destination, transformers are again used, but now to repeatedly step down the voltage until it becomes useable at homes, or workplaces. AC power systems are more practical, and thus, are more preferred over their DV counterparts. All of these factors are expected to boost the global transformer market during the forecast years of 2021 and 2025.

Every Increasing Electricity Demand Creates Excellent Opportunity for Global Transformer Market

The global population of 7.7 billion people is increasing by almost 90 million people per year. The electricity consumption is growing faster, average 2000 to 2019, 68 %, greater than any other form of energy consumption due to an increasing demand by the expanding global population. However, nearly 17% of the global population still does not have an access to electricity. Additionally, digitisation, electromobility, and sector-coupling will increase the electricity demand. The International Energy Agency (IEA) estimates +2.0 % increase in the global annual demand by 2040, to 40,443 billion kWh. As per BP, ExxonMobil, and the US Energy Information and Administration (EIA) forecast, it will be in a range of 34,000 to 42,000 billion kWh per year by 2040.

In 2019, the BRICS region contributed around 78% to the global increase in power consumption between 2010 and 2019. The Asian powerhouse, China remains the top electricity consumer in the world, followed by the US where the electricity usage is reported to have surged 13-fold since 1950. On the other hand, India sits third in the list as the electricity consumption in the country is expected to reach 4 trillion units by 2030, followed by Russia, and Japan. Moreover, the next electricity consumers in the world are South Korea, Canada, Brazil, Germany, France, Mexico, and the United Kingdom. The demand is seen to be particularly strong in developing economies.

The demand in transformers market will continue to increase as generation capacity of both conventional and non-renewable sources (due to increase in per capita consumption of electricity, and new avenues such as digitally connected devices, air conditioning, and electric vehicle charging stations). The demand will also increase owing to growing replacement of old transformers with their energy-efficient counterparts. Government policies, market conditions, and available technologies (low-carbon sources) also significantly contribute to the market expansion. However, overloading of transformers, tampering/bypassing the protection equipment, theft of material/oil further leading to fire and/or transformer failure remain the key challenges facing the industry.

Global Transformer Market: Key Players

ABB, AL FANAR COMPANY, DAIHEN CORPORATION, Eaton Electric Holdings LLC, GE, Hyundai Heavy Industries, Jiangsu Huapeng Transformer, Kraftwerke Ilanz AG, Mitsubishi Electric, NISSIN ELECTRIC CO., LTD. Schneider Electric, Shandong Power Equipment Co., Ltd., Siemens AG, Solar Turbines, Toshiba Corporation, Kirloskar Electric Company, TAKAOKA TOKO CO. LTD., TBEA, and Xi'an XD Transformer Co., Ltd. are some of the prominent players competing in the global transformer market.

Regional Classification of the Global Transformer Market is Listed Below:

North America

U.S.
Canada

Europe

Germany
France
Spain
U.K.
Italy
Russia
Rest of Europe

Asia Pacific

China
Japan
India
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East and Africa

GCC
South Africa
Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Transformer Market

Transformer Market by Product/Technology/Grade, Application/End-user, and Region
Executive Summary (Opportunity Analysis and Key Trends)
Historical Market Size and Estimates, Value and Volume, 2018 - 2022
Volume Consumption at Regional and Country Level, 2023 - 2030
Market Dynamics and Economic Overview
Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
Regional and Product/Grade/Application/End-user Price Trends Analysis
Production Output Analysis (Major Producing Regions)
Value Chain and Five Force’s Analysis
Regional/Sub-region/Country Market Size and Trend Analysis
Company Market Share Analysis and Key Player Profiles

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1. Executive Summary
1.1. Global Transformer Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations

2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver A
2.2.1.2. Driver B
2.2.1.3. Driver C
  2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
  2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
  2.5.1. Pre-covid and Post-covid Scenario
  2.5.2. Supply Impact
  2.5.3. Demand Impact
2.6. Government Regulations
2.7. Technology Landscape
2.8. Economic Analysis
2.9. PESTLE

3. Global Transformer Market Outlook, 2018 - 2030
3.1. Global Transformer Market Outlook, by Purpose, Volume (Units) and Value (US$ Mn), 2018 - 2030
  3.1.1. Key Highlights
3.1.1.1. Distribution Transformer
3.1.1.2. Power Transformer
3.1.1.3. Instrument Transformer
3.1.1.4. Isolation Transformer
3.1.1.5. Misc.
3.2. Global Transformer Market Outlook, by Cooling Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
  3.2.1. Key Highlights
3.2.1.1. Air-cooled
3.2.1.2. Oil-cooled
3.3. Global Transformer Market Outlook, by Insulation, Volume (Units) and Value (US$ Mn), 2018 - 2030
  3.3.1. Key Highlights
3.3.1.1. Gas
3.3.1.2. Oil
3.3.1.3. Solid
3.3.1.4. Air
3.3.1.5. Misc.
3.4. Global Transformer Market Outlook, by Windings, Volume (Units) and Value (US$ Mn), 2018 - 2030
  3.4.1. Key Highlights
3.4.1.1. Two Winding
3.4.1.2. Autotransformer
3.5. Global Transformer Market Outlook, by Phase, Volume (Units) and Value (US$ Mn), 2018 - 2030
  3.5.1. Key Highlights
3.5.1.1. Single-phase
3.5.1.2. Three-phase
3.6. Global Transformer Market Outlook, by End-user, Volume (Units) and Value (US$ Mn), 2018 - 2030
  3.6.1. Key Highlights
3.6.1.1. Residential & Commercial
3.6.1.2. Industrial
3.6.1.3. Utility
3.7. Global Transformer Market Outlook, by Region, Volume (Units) and Value (US$ Mn), 2018 - 2030
  3.7.1. Key Highlights
3.7.1.1. North America
3.7.1.2. Europe
3.7.1.3. Asia Pacific
3.7.1.4. Latin America
3.7.1.5. Middle East & Africa
  3.7.2. BPS Analysis/Market Attractiveness Analysis

4. North America Transformer Market Outlook, 2018 - 2030
4.1. North America Transformer Market Outlook, by Purpose, Volume (Units) and Value (US$ Mn), 2018 - 2030
  4.1.1. Key Highlights
4.1.1.1. Distribution Transformer
4.1.1.2. Power Transformer
4.1.1.3. Instrument Transformer
4.1.1.4. Isolation Transformer
4.1.1.5. Misc.
4.2. North America Transformer Market Outlook, by Cooling Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
  4.2.1. Key Highlights
4.2.1.1. Air-cooled
4.2.1.2. Oil-cooled
4.3. North America Transformer Market Outlook, by Insulation, Volume (Units) and Value (US$ Mn), 2018 - 2030
  4.3.1. Key Highlights
4.3.1.1. Gas
4.3.1.2. Oil
4.3.1.3. Solid
4.3.1.4. Air
4.3.1.5. Misc.
4.4. North America Transformer Market Outlook, by Windings, Volume (Units) and Value (US$ Mn), 2018 - 2030
  4.4.1. Key Highlights
4.4.1.1. Two Winding
4.4.1.2. Autotransformer
4.5. North America Transformer Market Outlook, by Phase, Volume (Units) and Value (US$ Mn), 2018 - 2030
  4.5.1. Key Highlights
4.5.1.1. Single-phase
4.5.1.2. Three-phase
4.6. North America Transformer Market Outlook, by End-user, Volume (Units) and Value (US$ Mn), 2018 - 2030
  4.6.1. Key Highlights
4.6.1.1. Residential & Commercial
4.6.1.2. Industrial
4.6.1.3. Utility
4.7. North America Transformer Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
  4.7.1. Key Highlights
4.7.1.1. U.S.
4.7.1.2. Canada
  4.7.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Transformer Market Outlook, 2018 - 2030
5.1. Europe Transformer Market Outlook, by Purpose, Volume (Units) and Value (US$ Mn), 2018 - 2030
  5.1.1. Key Highlights
5.1.1.1. Distribution Transformer
5.1.1.2. Power Transformer
5.1.1.3. Instrument Transformer
5.1.1.4. Isolation Transformer
5.1.1.5. Misc.
5.2. Europe Transformer Market Outlook, by Cooling Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
  5.2.1. Key Highlights
5.2.1.1. Air-cooled
5.2.1.2. Oil-cooled
5.3. Europe Transformer Market Outlook, by Insulation, Volume (Units) and Value (US$ Mn), 2018 - 2030
  5.3.1. Key Highlights
5.3.1.1. Gas
5.3.1.2. Oil
5.3.1.3. Solid
5.3.1.4. Air
5.3.1.5. Misc.
5.4. Europe Transformer Market Outlook, by Windings, Volume (Units) and Value (US$ Mn), 2018 - 2030
  5.4.1. Key Highlights
5.4.1.1. Two Winding
5.4.1.2. Autotransformer
5.5. Europe Transformer Market Outlook, by Phase, Volume (Units) and Value (US$ Mn), 2018 - 2030
  5.5.1. Key Highlights
5.5.1.1. Single-phase
5.5.1.2. Three-phase
5.6. Europe Transformer Market Outlook, by End-user, Volume (Units) and Value (US$ Mn), 2018 - 2030
  5.6.1. Key Highlights
5.6.1.1. Residential & Commercial
5.6.1.2. Industrial
5.6.1.3. Utility
5.7. Europe Transformer Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
  5.7.1. Key Highlights
5.7.1.1. Germany
5.7.1.2. France
5.7.1.3. U.K.
5.7.1.4. Italy
5.7.1.5. Spain
5.7.1.6. Russia
5.7.1.7. Rest of Europe
  5.7.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Transformer Market Outlook, 2018 - 2030
6.1. Asia Pacific Transformer Market Outlook, by Purpose, Volume (Units) and Value (US$ Mn), 2018 - 2030
  6.1.1. Key Highlights
6.1.1.1. Distribution Transformer
6.1.1.2. Power Transformer
6.1.1.3. Instrument Transformer
6.1.1.4. Isolation Transformer
6.1.1.5. Misc.
6.2. Asia Pacific Transformer Market Outlook, by Cooling Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
  6.2.1. Key Highlights
6.2.1.1. Air-cooled
6.2.1.2. Oil-cooled
6.3. Asia Pacific Transformer Market Outlook, by Insulation, Volume (Units) and Value (US$ Mn), 2018 - 2030
  6.3.1. Key Highlights
6.3.1.1. Gas
6.3.1.2. Oil
6.3.1.3. Solid
6.3.1.4. Air
6.3.1.5. Misc.
6.4. Asia Pacific Transformer Market Outlook, by Windings, Volume (Units) and Value (US$ Mn), 2018 - 2030
  6.4.1. Key Highlights
6.4.1.1. Two Winding
6.4.1.2. Autotransformer
6.5. Asia Pacific Transformer Market Outlook, by Phase, Volume (Units) and Value (US$ Mn), 2018 - 2030
  6.5.1. Key Highlights
6.5.1.1. Single-phase
6.5.1.2. Three-phase
6.6. Asia Pacific Transformer Market Outlook, by End-user, Volume (Units) and Value (US$ Mn), 2018 - 2030
  6.6.1. Key Highlights
6.6.1.1. Residential & Commercial
6.6.1.2. Industrial
6.6.1.3. Utility
6.7. Asia Pacific Transformer Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
  6.7.1. Key Highlights
6.7.1.1. China
6.7.1.2. Japan
6.7.1.3. South Korea
6.7.1.4. India
6.7.1.5. Southeast Asia
6.7.1.6. Rest of Asia Pacific
  6.7.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Transformer Market Outlook, 2018 - 2030
7.1. Latin America Transformer Market Outlook, by Purpose, Volume (Units) and Value (US$ Mn), 2018 - 2030
  7.1.1. Key Highlights
7.1.1.1. Distribution Transformer
7.1.1.2. Power Transformer
7.1.1.3. Instrument Transformer
7.1.1.4. Isolation Transformer
7.1.1.5. Misc.
7.2. Latin America Transformer Market Outlook, by Cooling Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
  7.2.1. Key Highlights
7.2.1.1. Air-cooled
7.2.1.2. Oil-cooled
7.3. Latin America Transformer Market Outlook, by Insulation, Volume (Units) and Value (US$ Mn), 2018 - 2030
  7.3.1. Key Highlights
7.3.1.1. Gas
7.3.1.2. Oil
7.3.1.3. Solid
7.3.1.4. Air
7.3.1.5. Misc.
7.4. Latin America Transformer Market Outlook, by Windings, Volume (Units) and Value (US$ Mn), 2018 - 2030
  7.4.1. Key Highlights
7.4.1.1. Two Winding
7.4.1.2. Autotransformer
7.5. Latin America Transformer Market Outlook, by Phase, Volume (Units) and Value (US$ Mn), 2018 - 2030
  7.5.1. Key Highlights
7.5.1.1. Single-phase
7.5.1.2. Three-phase
7.6. Latin America Transformer Market Outlook, by End-user, Volume (Units) and Value (US$ Mn), 2018 - 2030
  7.6.1. Key Highlights
7.6.1.1. Residential & Commercial
7.6.1.2. Industrial
7.6.1.3. Utility
7.7. Latin America Transformer Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
  7.7.1. Key Highlights
7.7.1.1. Brazil
7.7.1.2. Mexico
7.7.1.3. Rest of Latin America
  7.7.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Transformer Market Outlook, 2018 - 2030
8.1. Middle East & Africa Transformer Market Outlook, by Purpose, Volume (Units) and Value (US$ Mn), 2018 - 2030
  8.1.1. Key Highlights
8.1.1.1. Distribution Transformer
8.1.1.2. Power Transformer
8.1.1.3. Instrument Transformer
8.1.1.4. Isolation Transformer
8.1.1.5. Misc.
8.2. Middle East & Africa Transformer Market Outlook, by Cooling Type, Volume (Units) and Value (US$ Mn), 2018 - 2030
  8.2.1. Key Highlights
8.2.1.1. Air-cooled
8.2.1.2. Oil-cooled
8.3. Middle East & Africa Transformer Market Outlook, by Insulation, Volume (Units) and Value (US$ Mn), 2018 - 2030
  8.3.1. Key Highlights
8.3.1.1. Gas
8.3.1.2. Oil
8.3.1.3. Solid
8.3.1.4. Air
8.3.1.5. Misc.
8.4. Middle East & Africa Transformer Market Outlook, by Windings, Volume (Units) and Value (US$ Mn), 2018 - 2030
  8.4.1. Key Highlights
8.4.1.1. Two Winding
8.4.1.2. Autotransformer
8.5. Middle East & Africa Transformer Market Outlook, by Phase, Volume (Units) and Value (US$ Mn), 2018 - 2030
  8.5.1. Key Highlights
8.5.1.1. Single-phase
8.5.1.2. Three-phase
8.6. Middle East & Africa Transformer Market Outlook, by End-user, Volume (Units) and Value (US$ Mn), 2018 - 2030
  8.6.1. Key Highlights
8.6.1.1. Residential & Commercial
8.6.1.2. Industrial
8.6.1.3. Utility
8.7. Middle East & Africa Transformer Market Outlook, by Country, Volume (Units) and Value (US$ Mn), 2018 - 2030
  8.7.1. Key Highlights
8.7.1.1. GCC
8.7.1.2. South Africa
8.7.1.3. Rest of Middle East & Africa
  8.7.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape
9.1. Company Market Share Analysis, 2022
9.2. Competitive Dashboard
9.3. Company Profiles
  9.3.1. ABB Ltd.
9.3.1.1. Company Overview
9.3.1.2. Product Portfolio
9.3.1.3. Financial Overview
9.3.1.4. Business Strategies and Development
(*Note: Above details would be available for below list of companies based on availability)
  9.3.2. General Electric
  9.3.3. Siemens Energy
  9.3.4. TBEA Co., Ltd.
  9.3.5. Schneider Electric
  9.3.6. Mitsubishi Electric Corporation
  9.3.7. Toshiba International Corporation
  9.3.8. Baoding Tianwei Baobian Electric Co., Ltd.
  9.3.9. Hyundai Heavy Industries
  9.3.10. IMEFY
  9.3.11. Kirloskar Electric Company
  9.3.12. China Xidian Electric Co., Ltd.
  9.3.13. Jiangsu Huapeng Transformer Co. Ltd.

10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Transformer Market

Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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