Power Transformers - Global Strategic Business Report

Report
761 Pages
March 2024
Region: Global
Global Industry Analysts, Inc
ID: 2498175

The global market for Power Transformers is estimated at US$28.6 Billion in 2023 and is projected to reach US$41.2 Billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

Market Growth: Understand the significant growth trajectory of the Oil Immersed Power Transformers segment, which is expected to reach US$25.8 Billion by 2030 with a CAGR of 5%. The Dry Type Power Transformers segment is also set to grow at 4.1% CAGR over the next 8 years.
Regional Analysis: Gain insights into the U.S. market, estimated at $5.5 Billion in 2023, and China, forecasted to grow at an impressive 5.9% CAGR to reach $9.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

Detailed Market Analysis: Access a thorough analysis of the Global Power Transformers Market, covering all major geographic regions and market segments.
Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Power Transformers Market.
Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

How is the Global Power Transformers Market expected to evolve by 2030?
What are the main drivers and restraints affecting the market?
Which market segments will grow the most over the forecast period?
How will market shares for different regions and segments change by 2030?
Who are the leading players in the market, and what are their prospects?

Report Features:

Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of major players such as ABB Ltd., Bharat Heavy Electricals Ltd., Avnet, Inc., and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 93 Featured):

ABB Ltd.
Bharat Heavy Electricals Ltd.
Avnet, Inc.
Adda Corporation
Daihen Corporation
Bharat Bijlee Ltd.
Bowers Electricals Ltd.
Diamond Power Infrastructure Ltd.
ABB S.p.A
Century Transformers Pvt., Ltd.
Delta Star, Inc.
Astor Transformer AS
BridgePower Corporation
Brush Group
Beckwith Electric Co., Inc.

MarketGlass Platform

Our reports are enhanced by the MarketGlass platform, which brings together industry experts and influencers to provide high-quality, accurate insights. This unique platform allows us to gather comprehensive data and market perspectives, ensuring you receive the most reliable and detailed analysis available.

I. METHODOLOGYII. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Power Transformers: The Power to Manage Power with Greater Reliability, Efficiency, Resilience, and Durability
Market Fortunes Intrinsically Linked to Power T&D Equipment Industry
Worldwide Sales of Power T&D Equipment (in US$ Billion) for Years 2014, 2019, and 2024P
Surge in Energy Consumption and Resulting Expansion in Power Production and T&D Investments
Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
Transformations in Power Transmission Technology over the Years
Steady Growth Projected for Power Transformers
Developing Regions Emerge as Core Markets Amid Rising Power Infrastructure Spending
Estimated Global Power Generation Infrastructure Requirement (US$ Billion) for China, India and Latin America Over the Period 2010-2030
Aging Power Transformer Fleet Underscores Need for Replacement and Upgrades in Developed Regions
COMPETITIVE LANDSCAPE
Power Transformers: A Consolidated Marketplace
ABB Dominates the High Voltage Power Transmission Market
Leading Players in the World High Power Transmission Equipment, Systems and Services Market (2019): Percentage Market Share Breakdown for ABB Ltd., Siemens, TBEA, and Others
Competitive Pressures Continue to Build Up in Power Transformers Business
Intense Competition Necessitates M&A
Power Transformers - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Rising Utility Investments in Power Infrastructure for Transitioning to the Smart Grid Standard Drive Healthy Market Growth
Global Investments in Smart Grids by Category (2019): Percentage Breakdown of Dollar Investments for Advanced Metering Infrastructure (AMI) Distribution Automation, Networks Operations Software, Transmission Modernization, and Others
Power Infrastructure to Experience Considerable Transformation Driven by Modern Technology and Renewables
Wind Power Makes Robust Progress within the Renewables Sector
Global Wind Power Installed Capacity (In GW) for the Years 2015 -2022
Solar Power Emerges as Reliable Renewable Energy Source
Microgrids Ease Network Burden
Utilities Bet on Big Data
Renewable Energy: A Statistical Perspective
Targets for Electricity Production from Renewable Energy Sources in Select Countries
Myriad Benefits and Superior Attributes over Traditional Transformers Drive Strong Demand for Smart Transformers
Smart Transformers for Smarter Power Transmission and Distribution
Traditional Vs. Smart Transformers: A Comparison
Growing Prominence of Smart Cities and Smart Homes of the Future Necessitates Highly Capable Power T&D Networks
Growing Number of Smart Homes Catalyzes the Creation of Smart Cities: Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025
Global Home Automation Revenues in US$ Million by Geographic Region for 2018 and 2024
Technology Improvements and Product Innovations Spearhead Market Expansion
SGB-SMIT's Smart Transformers
ABB Ability™ Power Transformer
Self-Cooling Transformers from ABB
Siemens' Ester Fluid-based Phase Shifting Power Transformer
Hybrid Power Transformers Technology
Energy Efficient and Eco-Friendly Power Transformers
Wireless Power Transmission
Innovative Alternative Fluids
Design Innovation in Large Power Transformers (LPTs)
Dryformers by ABB
Superconductor Based Power Transformers
HTS Transformers: Energy Efficient, Lightweight, and Small Sized
Gas-Insulated Power Transformers
Future for Gas-Insulated Transformers Appears Bright
IEC Standards for Gas-Insulated Transformers
Powerformer: A Superior Replacement for Step-Up Transformer
Innovative On-load Tap Changers (OLTCs) Improves Reliability and Safety
Stabilizing Regulatory Environment Augurs Well
Proposed/Approved Standards for Transformers in Select Countries
Demographic and Socio-Economic Trends Strengthen Market Prospects
Ballooning Global Population
World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
Exponential Increase in Urban Dwellers
World Urban Population in Thousands: 1950-2050P
Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050
Massive Increase in Building and Infrastructure Investments
Global Infrastructure Spending Estimates (Percentage of GDP) by Region
STable Economic Scenario Augurs Well for Power Transformers Market

4. GLOBAL MARKET PERSPECTIVE

Table 1: World Recent Past, Current & Future Analysis for Power Transformers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 2: World Historic Review for Power Transformers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 3: World 16-Year Perspective for Power Transformers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
Table 4: World Recent Past, Current & Future Analysis for Oil Immersed by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 5: World Historic Review for Oil Immersed by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 6: World 16-Year Perspective for Oil Immersed by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 7: World Recent Past, Current & Future Analysis for Dry Type by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 8: World Historic Review for Dry Type by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 9: World 16-Year Perspective for Dry Type by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 10: World Recent Past, Current & Future Analysis for 100 MVA - 500 MVA by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 11: World Historic Review for 100 MVA - 500 MVA by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 12: World 16-Year Perspective for 100 MVA - 500 MVA by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 13: World Recent Past, Current & Future Analysis for 501 MVA - 800 MVA by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 14: World Historic Review for 501 MVA - 800 MVA by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 15: World 16-Year Perspective for 501 MVA - 800 MVA by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 16: World Recent Past, Current & Future Analysis for 801 MVA - 1200 MVA by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 17: World Historic Review for 801 MVA - 1200 MVA by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 18: World 16-Year Perspective for 801 MVA - 1200 MVA by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 19: World Recent Past, Current & Future Analysis for Utility by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 20: World Historic Review for Utility by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 21: World 16-Year Perspective for Utility by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 22: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 23: World Historic Review for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 24: World 16-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 25: World Recent Past, Current & Future Analysis for Residential & Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
Table 26: World Historic Review for Residential & Commercial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2022 and % CAGR
Table 27: World 16-Year Perspective for Residential & Commercial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
Table 28: World Power Transformers Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030

III. MARKET ANALYSIS

UNITED STATES

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
Need to Replace and Upgrade Aging T&D Infrastructure Drive Market Growth
Transmission & Distribution Spending ($ Billion) in the United States: 1990-2009 & 2010-2030P
Major Growth Drivers Summarized
Inadequate and Aging T&D Infrastructure
Failure of Vital Systems during Storms Resulting in Power Outages
Need for Reliable Power Supply
Regulatory Landscape
Demand for Outsourced Providers
Focus on Renewable Energy Generation
Proliferation of Oil & Gas Production
Transition from Coal to Natural Gas Generation
Expanding Smart Grid Infrastructure Boosts Demand for Smart Transformers
Smart Transformers to Enhance Flexibility and Cleanliness of Electrical Grids
Replacement Demand to Drive Spending on Larger Power Transformers (LPTs)
US Transmission & Distribution Spending for the Period 2011-2035: Percentage (%) Breakdown of Spending for New Equipment and Replacements
Burgeoning Electricity Demand Provides the Perfect Platform for Market Adoption
Electricity Demand (Billion KWh) in the United States: 1980-2040
Rapidly Evolving Role of Renewable Energy in Power Sector Supports Growth
US Net Electricity Generation by Energy Source (2000, 2010, 2020, 2030 & 2040): Breakdown of Electricity Generation (Billion Kilowatt-hours) from Coal, Natural Gas, Nuclear, Petroleum, and Renewable Energy
Industrial & Electric Utilities: Dominant End-use Sectors for T&D Equipment
Energy Consumption in the United States (2008, 2016 & 2020P): Breakdown of Electricity Consumption (in Billion Kilowatt Hours) by Key End-Use Industries - Residential, Commercial, and Industrial
Presence of Leading Suppliers in Medium and Large Power Transformers Company Medium Transformers Large Transformers
Electric Utilities to Benefit from Energy-Related Technology Disruptions in Silicon Valley
US T&D Infrastructure: A Macro Perspective
Power T&D Equipment Sales in the US (in US$ Million) for Years 2014, 2019, and 2024P

CANADA

JAPAN

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
Recent Energy Sector Transformation and Focus on Renewable Energy Sustain Market Growth
Japan’s Power Generation by Energy Source (2005, 2015, and 2030): Percentage Breakdown for Coal-fired Thermal Power, Gas-fired Thermal Power, Nuclear Power, Oil-fired Thermal Power, and Renewable Energy

CHINA

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
Government Efforts to Address the Country’s Power Requirements Drive Strong Market Growth
The Northwest and Southeast China to Bolster the Demand for Electric T&D Equipment
Industry Moves towards High-Voltage Transformers
Issues Persist in the Chinese Transformer Industry
Chinese Transformers Industry: Highly Competitive at the Lower End
Chinese Vendors Eye Overseas Markets
Transformers - Regulatory Scenario

EUROPE

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
Europe: A Mature yet Growing Market
Smart Grids to Drive Next Wave of Growth
EU Proposes New Ecodesign Energy Efficiency Standard for Transformers
PowerGrid Program to Redefine Future of Power Transmission

FRANCE

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)

GERMANY

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)

ITALY

UNITED KINGDOM

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)

SPAINRUSSIAREST OF EUROPE

ASIA-PACIFIC

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
Asia-Pacific: The Largest and the Fastest Growing Regional Market
Percentage (%) Share of Asia-Pacific in the World Power Transformers Sales (2019 & 2025P)
China and India Instigate Large-Scale Opportunities
Rural Electrification in Asian Countries Promotes Market Expansion
Railway Electrification & High-Speed Railway Projects Augment Addressable Market

AUSTRALIA

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)

INDIA

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
India - A Market Laden with Opportunities
Government’s Power-for-All Initiatives to Drive Demand
CEA’s National Electricity Plan (NEP) Indicates Robust Requirement
The Indian Electrical Equipment Industry: A Macro Perspective
Competitive Landscape
Indian Transformers Market: A Peek into Market Tiers
India Growing Into a Major Global Export Hub for Transformers
Opportunities Galore for Indian Transformer Manufacturers
Overseas Players Keenly Eye Indian Shores, Market Headed for Consolidation
Vendors Seek Higher Government Involvement in R&D and Testing & Evaluation

SOUTH KOREAREST OF ASIA-PACIFIC

LATIN AMERICA

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)

ARGENTINA

BRAZIL

Increased Investments in Power T&D Infrastructure Augurs Well
Growing Concerns over Grid Network Congestion

MEXICO

Mexico: A Niche Regional Market

REST OF LATIN AMERICA

MIDDLE EAST

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
Energy Infrastructure Needs in the Middle East Drive Market Growth
Upgrade of Electric Power and Distribution Infrastructure Drive Demand in Saudi Arabia
Saudi Arabia’s Ambitious Solar Energy Plans to Boost Smart Grids
Energy Challenges Open Avenues for Huge Investment Opportunities in Africa
Urgent Need to Provide Proper Access to Electricity: Primary Demand Driver
Growing Investments in Large-Scale Power Infrastructure Projects Bodes Well

IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST

AFRICA

Power Transformers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)

IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

ABB Ltd.
Bharat Heavy Electricals Ltd.
Avnet, Inc.
Adda Corporation
Daihen Corporation
Bharat Bijlee Ltd.
Bowers Electricals Ltd.
Diamond Power Infrastructure Ltd.
ABB S.p.A
Century Transformers Pvt., Ltd.
Delta Star, Inc.
Astor Transformer AS
BridgePower Corporation
Brush Group
Beckwith Electric Co., Inc.

Table Information

Report Attribute	Details
No. of Pages	761
Published	March 2024
Forecast Period	2023 - 2030
Estimated Market Value ( USD ) in 2023	$ 28.6 Billion
Forecasted Market Value ( USD ) by 2030	$ 41.2 Billion
Compound Annual Growth Rate	5.4%
Regions Covered	Global

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Key Insights:

Why You Should Buy This Report:

Key Questions Answered:

Report Features:

Select Competitors (Total 93 Featured):

MarketGlass Platform

Table of Contents

Companies Mentioned (Partial List)

Table Information

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