The global transformer market is poised for substantial growth, given the ascending global demand for energy and the expanding initiatives for electrification across numerous countries worldwide. This trend is specifically beneficial to businesses planning to invest, expand, or diversify in the transformative sector. Purchasing this comprehensive market research report will equip decision-makers with actionable insights into this dynamic market.
The report provides a systematic breakdown of the transformer industry, which significantly ranges from the sales of low-rated transformers to high-rated transformers. It also furnishes a holistic overview of the market's major segments, including power transformers, distribution transformers, and their respective applications. With governments globally implementing plans to bolster renewable energy infrastructure, and the progressive evolution of self-regulating smart transformers, key data from this report will enable prospective investors and businesses to strategically navigate the transformative trends shaping the future of the transformer market. Regardless of the short-term volatility in raw material costs, long-term development in this market continues to present lucrative opportunities.
The transformers market consists of sales of low-rated transformers and high-rated 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.
A transformer transfers energy from one circuit to another. Transformers increase or decrease voltage and current levels, increase or decrease capacitor value, prevent direct current from passing between two circuits, and isolate circuits.
The main types of transformers market are low-rated transformers and high-rated transformers. The low-rated transformer is transmitted to the receiving end. This low voltage power if transmitted results in greater line current which is causing more line losses. The transformer types are power transformer and distribution transformer. The phases are single-phase and three-phase. The applications are residential and commercial, utility and industrial.
Favorable government policies to increase electrification will contribute to the growth of the transformers market in the forecast period. Countries around the world are implementing several initiatives to increase electrification across countries. For instance, in September 2021, The U.S. Department of Agriculture announced an investment of $ 464 million to build or improve renewable energy infrastructure to support rural communities. Moreover, in April 2021, according to the Ministry of New and Renewable Energy, the government of India, launched the 'National Programme on High-Efficiency Solar PV Modules' Production Linked Incentive Scheme with a budget of Rs. 4,500 crores to support and encourage the production of high-efficiency solar PV module. Therefore, favorable government policies to increase electrification will positively impact the growth of the transformers market.
Instability in the pricing of raw materials is a major restraint in the transformers manufacturing market. The instability is due to the volatility in the raw material prices of steel, copper, and crude oil. Steel and copper are predominantly used in the manufacture of transformers. Increased tariffs on raw materials such as steel and copper, increased the volatility of prices, thereby limiting the growth of the market for medium power transformers. For instance, in October 2021, the United States and the European Union reached an agreement on the lifting of US tariffs of 25 percent on imports of steel from the EU and 10 percent on imports of aluminum from the EU. The increase in prices leads to an increase in operating expenses thereby hampering the growth of the market.
The transformers market is moving towards the evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. For instance, in 2021, the U.S. Department of Energy (DOE) invested a total of $20 million in funding for innovative research and development in artificial intelligence (A.I.) and machine learning. DOE’s Office of Electricity has selected eight projects to receive nearly $7 million in total to explore the use of big data, artificial intelligence, and machine learning technologies for improving existing knowledge and discovering new insights and tools for better grid operation and management. Companies should consider investing in technologies to produce smart transformers for commercial establishments.
In June 2020, Northern Transformer Corp, a Canada-based manufacturer of transformers acquired VRT Power for an undisclosed amount. Through this acquisition, Northern Transformer Corp aims to provide North American clients with unsurpassed local service, quality, and technology in the utility industry. VRT Power is an Israel-based Manufacturer of electrical industrial power transformers.
The regions covered in the transformers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the transformers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The transformers market research report is one of a series of new reports that provides transformers market statistics, including transformers industry global market size, regional shares, competitors with a transformers market share, detailed transformers market segments, market trends, and opportunities, and any further data you may need to thrive in the transformers industry. This 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.
Major players in the transformers market are ABB, General Electric Corporation, Schneider Electric S.A., Mitsubishi Electric Corporation, Schneider Electric, Mitsubishi Electricis, Toshiba Corporation, Siemens, SGB-SMIT, and Hammond Power Solutions.
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|No. of Pages||175|
|Forecast Period||2023 - 2027|
| Estimated Market Value ( USD ||$ 89.05 billion|
| Forecasted Market Value ( USD ||$ 117.73 billion|
|Compound Annual Growth Rate||7.2%|
Table of Contents1. Executive Summary
2. Transformers Market Characteristics
3. Transformers Market - Macro Economic Scenario
3.1 COVID-19 Impact On Transformers Market
3.2 Ukraine-Russia War Impact On Transformers Market
3.3 Impact Of High Inflation On Transformers Market
4. Transformers Market Size And Growth
4.1. Global Transformers Historic Market, 2017 - 2022, $ Billion
4.1.1. Drivers Of The Market
4.1.2. Restraints On The Market
4.2. Global Transformers Forecast Market, 2022 - 2027F, 2032F, $ Billion
4.2.1. Drivers Of The Market
4.2.2. Restraints On the Market
5. Transformers Market Segmentation
5.1. Global Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
- Low Rated Transformer
- High Rated Transformer
- Power Transformer
- Distribution Transformer
- Single Phase
- Three Phase
- Residential And Commercial
6.1. Global Transformers Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
6.2. Global Transformers Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
7. Asia-Pacific Transformers Market
7.1. Asia-Pacific Transformers Market Overview
7.2. Asia-Pacific Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
8. China Transformers Market
8.1. China Transformers Market Overview
8.2. China Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F,$ Billion
9. India Transformers Market
9.1. India Transformers Market Overview
9.2. India Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
10. Japan Transformers Market
10.1. Japan Transformers Market Overview
10.2. Japan Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
11. Australia Transformers Market
11.1. Australia Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
12. Indonesia Transformers Market
12.1. Indonesia Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
13. South Korea Transformers Market
13.1. South Korea Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
14. Western Europe Transformers Market
14.1. Western Europe Transformers Market Overview
14.2. Western Europe Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
15. UK Transformers Market
15.1. UK Transformers Market Overview
15.2. UK Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
16. Germany Transformers Market
16.1. Germany Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
17. France Transformers Market
17.3. France Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
18. Eastern Europe Transformers Market
18.1. Eastern Europe Transformers Market Overview
18.2. Eastern Europe Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
19. Russia Transformers Market
19.1. Russia Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
20. North America Transformers Market
20.1. North America Transformers Market Overview
20.2. North America Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
21. USA Transformers Market
21.1. USA Transformers Market Overview
21.2. USA Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
22. South America Transformers Market
22.1. South America Transformers Market Overview
22.2. South America Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
23. Brazil Transformers Market
23.1. Brazil Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
24. Middle East Transformers Market
24.1. Middle East Transformers Market Overview
24.2. Middle East Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
25. Africa Transformers Market
25.1. Africa Transformers Market Overview
25.2. Africa Transformers Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
26. Transformers Market Competitive Landscape And Company Profiles
26.1. Transformers Market Competitive Landscape
26.2. Transformers Market Company Profiles
184.108.40.206. Products and Services
220.127.116.11. Financial Performance
26.2.2. General Electric Corporation
18.104.22.168. Products and Services
22.214.171.124. Financial Performance
26.2.3. Schneider Electric S.A.
126.96.36.199. Products and Services
188.8.131.52. Financial Performance
26.2.4. Mitsubishi Electric Corporation
184.108.40.206. Products and Services
220.127.116.11. Financial Performance
26.2.5. Schneider Electric
18.104.22.168. Products and Services
22.214.171.124. Financial Performance
27. Key Mergers And Acquisitions In The Transformers Market
28. Transformers Market Trends And Strategies
29. Transformers Market Future Outlook and Potential Analysis
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer
Executive SummaryTransformers Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on transformers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Markets Covered1) By Type: Low Rated Transformer; High Rated Transformer
2) By Transformer Type: Power Transformer; Distribution Transformer
3) By Phase: Single Phase; Three Phase
4) By Application: Residential And Commercial; Utility; Industrial
Companies Mentioned: ABB; General Electric Corporation; Schneider Electric S.A.; Mitsubishi Electric Corporation; Schneider Electric
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
A selection of companies mentioned in this report includes:
- General Electric Corporation
- Schneider Electric S.A.
- Mitsubishi Electric Corporation
- Schneider Electric
- Mitsubishi Electricis
- Toshiba Corporation
- Hammond Power Solutions
- SPX Transformer Solutions
- Kirloskar Electric Company
- RITZ Instrument Transformers GmbH
- Hammond Power Solutions Inc.
- Jefferson Electric
- SPX Transformer Solutions
- Performance Group
- Fortune Electric Co., Ltd.
- Schaffner Holding AG