Low Power Transformers Global Market Report 2024

The low power transformers market size has grown strongly in recent years. It will grow from $43.56 billion in 2023 to $47.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed in the historical period can be attributed to several key factors, including advancements in electrical distribution, substantial infrastructure development, technological progress, and adherence to regulatory compliance.

The low power transformers market size is expected to see strong growth in the next few years. It will grow to $61.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. Anticipated growth in the forecast period can be attributed to the integration of renewable energy sources, the growing trend towards electrification, the increasing use of digital technologies, and the expansion of electric vehicle charging infrastructure. Significant trends expected in the forecast period encompass the development of smart grids, the adoption of eco-friendly materials, the integration of smart home technology, and a focus on education and training within the industry.

The growth of the low-power transformers market was primarily influenced by the rapid expansion in emerging markets. This growth was supported by factors such as increasing disposable income, a stable political climate, and growing foreign investments in these regions. For example, the Organization for Economic Co-operation and Development (OECD) projected a 3.0% global economic growth in 2023, contributing to a surge in demand for electrical products and subsequently driving the low-power transformers market.

The product types are prevalent such as split-core and solid-core transformers. Split-core current transformers are designed for application in semi-permanent systems. They feature a transformer with one of its cores that can be extended or repositioned around the conductor and subsequently secured using a latch or another type of flange. Cooling methods for these transformers include both oil cooling and air cooling. These versatile transformers find various applications across power plants, factories, and other industrial settings.

The low power transformers market research report is one of a series of new reports that provides low power transformers market statistics, including low power transformers industry global market size, regional shares, competitors with a low power transformers market share, detailed low power transformers market segments, market trends and opportunities, and any further data you may need to thrive in the low power transformers industry. This low power transformers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing demand for electric vehicles is anticipated to be a key driver for the growth of the low-power transformers market in the future. Low-power transformers play a crucial role in converting the AC power from charging stations into the required DC power for electric vehicle battery charging. Sales of electric vehicles nearly doubled in 2021 to 6.6 million, leading to a total of 16.5 million electric vehicles on the roads. This escalating demand for electric vehicles directly contributes to the growth of the low-power transformers market.

A notable trend in the low-power transformer market is the progression towards self-regulating smart transformers. These smart transformers are designed to regulate voltage consistently, maintaining communication with stakeholders and providing valuable information and feedback on power supply. They optimize voltage and supply the precise amount of power required, thereby reducing greenhouse gas emissions and power consumption. The US Department of Energy allocated $7.5 million for the research and development of smart transformers to enhance grid resiliency, indicating a growing investment in smart transformer technologies for commercial use.

Major companies within the low-power transformer market are directing their efforts towards introducing compact transformers, seeking a competitive advantage in the industry. Specifically, Pulse Electronics Corporation, a US-based electronic component manufacturer, unveiled the PH9385 series of 4KVrms isolation power transformers in February 2021. These transformers utilize a specialized Sidecar package, designed to separate the coil from the high isolation pins, resulting in an extended creepage distance. This innovative design allows for a reduction in package size while preserving the necessary creepage distance. With a power rating of up to 2.5W, these transformers are suitable for various low-power applications like medical devices, industrial control systems, and telecommunications equipment.

Major companies operating in the low power transformers market include Osram GmbH, Schneider Electric SE, Rockwell Automation Inc., Dechang Electronics Co. Ltd., Leviton Manufacturing Co. Inc., Plitron Manufacturing Inc., Hobut Holdings Limited, TDK Corporation, Murata Manufacturing Co. Ltd., API Technologies Corp., TE Connectivity Ltd., Phoenix Contact GmbH & Co. KG, ABB Ltd., Littelfuse Inc., Zelisko Limited, GE Grid Solutions LLC, Qualitrol Company LLC, Horstmann GmbH, Weidmüller Interface GmbH & Co. KG, TT Electronics PLC, Vishay Intertechnology Inc., Dachi Electric Co. Ltd., State Grid Luneng Group Co. Ltd., Tianwei Baobian Electric Co. Ltd., Hyosung Corporation, Crompton Greaves Limited, Bharat Heavy Electricals Limited, SPX Transformer Solutions Inc., Jiangsu Huapeng Transformer Co. Ltd., Hammond Power Solutions Inc., SolaHD, Acme Electric Corp., Jefferson Electric Inc., Marcus Transformer Ltd.

Asia-Pacific was the largest region in the low power transformers market in 2023. Western Europe is the second-largest region in the low power transformers market. The regions covered in the low power transformers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the low power transformers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The low power transformers market consists of sales of solid-core low power transformers, split-core low power transformers, and other low power transformers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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