The global power transformer market was valued at about USD 28.92 billion in 2025 and is expected to grow significantly to reach approximately USD 52.16 billion by 2033. Thereby, the estimated compound annual growth rate was found to be a robust 7.65% from 2025-2033. Factors contributing to this surge will be increasing demand for electricity, infrastructural development, and renewable energy projects across the world that are driving the efficiency of the power distribution systems.
The power transformer is an electrical device designed to transfer electrical energy from one or more primary circuits into one or more secondary circuits through the principle of electromagnetic induction. Power transformers are designed primarily to either step up or step down voltages in power transmission networks to efficiently transfer electricity over long distances with minimal loss of energy. They are thus extremely important parts of an electrical grid, electrical substations, power plants, and heavy industry. They contribute to voltage stability, improve power quality, and allow for the safe distribution of electricity to residential, commercial, and industrial consumers. Constructed with high-grade insulation, magnetic cores, and copper or aluminum windings, these power transformers are designed to bear heavy loads and continuously operate in a very reliable manner.
Globally, due to the increase in demand for electricity, expansion of urban infrastructure, and rapid industrialization, power transformers find extensive applications. The integration of renewable energy sources, like wind and solar, has also given a major fillip to the demand for sophisticated transformers that can operate under varying loads and grid fluctuations. Developing regions are investing heavily in grid modernization and rural electrification, thus driving demand even further. Furthermore, the emergence of smart grids and energy-efficient transmission technologies has also considerably strengthened the market dynamics. Power transformers continue to remain indispensable worldwide as countries upgrade their aging power infrastructure and expand their clean-energy capacity.
Headquarters: India
Bharat Heavy Electricals Ltd is an engineering and manufacturing company. It designs, engineers, constructs, tests, commissions and executes projects across industries. The company provides a wide range of products and services across various industries. BHEL also offers renovation, modernization, uprating, residual life assessment, health diagnostics and plants' life extension services. It has interests in various projects under execution phase in various countries. BHEL serves customers in transportation, power generation, oil and gas, energy storage, renewable energy, water business, defense and aerospace in North America, South America, Asia Pacific, the Middle East and Africa. The company has manufacturing, regional marketing centers, repair centers, offices and service centers across India, and offices in overseas.
Headquarters: Japan
Daihen Corporation is a Japanese industrial equipment firm founded in 1919 and based in Kyoto. The company provides power transmission and distribution systems, welding machinery, automation technologies, and industrial robots for manufacturing. Its product portfolio encompasses circuit breakers, switchgear, vacuum equipment, robotic welding systems, and control solutions for the automotive, electrical utilities, construction, and infrastructure sectors. With a strong emphasis on R&D and a worldwide manufacturing network, the company supplies its products in Japan, the Asia-Pacific, European, and North American markets. Its commitment to innovation, quality craftsmanship, and sustainable technology solutions places the company as a valued supplier in industrial automation and power infrastructure markets.
Headquarters: United States of America
General Electric Co. (GE) is an industrial conglomerate. The company provides a range of industrial, infrastructure and financial products and services. It offers a wide range of products and services including aircraft engines and systems, healthcare systems and pharmaceutical diagnostics, power generation, and oil and gas production equipment apart from medical imaging, financing and industrial products. It also offers a comprehensive range of financial services to its customers. The company serves water, oil and gas, power, energy management, aviation, healthcare, digital, transportation, appliances and lighting industries amongst others. It has operations in North America, Europe, Asia, the Middle East, and Africa and other regions; and manufacturing facilities across the world. The company is headquartered in Boston, Massachusetts, the US.
Headquarters: [external URL]
Hitachi Construction Machinery Co Ltd (HCM), a subsidiary of Hitachi Ltd, is a construction equipment and transportation machinery manufacturer. The company provides construction and mining equipment for digging, loading, breaking, grabbing, cutting, crushing, and screening purposes. Its portfolio of services includes excavators, wheel loaders, cranes and foundation machines, demolition equipment, dump trucks, loading shovels, and compaction equipment. The company also provides troubleshooting, technical training, and extended warranty services; and mine management services. HCM serves its products to residential and building construction, plant construction, urban development, infrastructure maintenance and mining resources, demolition, waste recycling, and agricultural markets. The company has manufacturing facilities in Japan and operates in Asia and Oceania, Europe, Africa, the Middle East, and the Americas.
Headquarters: South Korea
Hyosung Corp. engages in diversified business operations as a conglomerate. The main activities of the company include textiles, advanced materials, chemicals, heavy industry, construction, trade, and information and communication. Its main products and services are innovative textile technology, advanced materials, IT infrastructure, power grid systems, eco-friendly construction, and chemical materials technology. The products and services of Hyosung serve industries ranging from home to industry and finance, applied in specific sectors like the manufacture of tires, automotive interior fabric, and the generation of power. The company distributes its products and services through a global trade network and sales representatives. It offers its products and services in the US, Europe, Asia, the Middle East, among other geographic locations.
Various competitive advantages lie with CG Power & Industrial Solutions Ltd. in the power transformer market, including a diversified product portfolio, state-of-the-art manufacturing capabilities, and presence in global markets. The production portfolio of the company includes EHV, distribution, and specialty power transformers that can be sold to utilities, industries, and infrastructure developers on a global scale. CG Power’s technologically advanced manufacturing facilities are supported by strong quality control and R&D expertise to ensure high efficiency, reliability, and long operational life for its transformers. Its strong presence in India, coupled with partnerships and exports in excess of 80 countries, further extends the market reach of the company. The experience of handling turnkey power projects gives the company an edge in offering a complete solution right from design to commissioning. With a thorough understanding of modernization on the grid, integration of renewables, and power needs of industry, CG Power is well positioned as a trusted supplier in the global transformer industry.
The power transformer is an electrical device designed to transfer electrical energy from one or more primary circuits into one or more secondary circuits through the principle of electromagnetic induction. Power transformers are designed primarily to either step up or step down voltages in power transmission networks to efficiently transfer electricity over long distances with minimal loss of energy. They are thus extremely important parts of an electrical grid, electrical substations, power plants, and heavy industry. They contribute to voltage stability, improve power quality, and allow for the safe distribution of electricity to residential, commercial, and industrial consumers. Constructed with high-grade insulation, magnetic cores, and copper or aluminum windings, these power transformers are designed to bear heavy loads and continuously operate in a very reliable manner.
Globally, due to the increase in demand for electricity, expansion of urban infrastructure, and rapid industrialization, power transformers find extensive applications. The integration of renewable energy sources, like wind and solar, has also given a major fillip to the demand for sophisticated transformers that can operate under varying loads and grid fluctuations. Developing regions are investing heavily in grid modernization and rural electrification, thus driving demand even further. Furthermore, the emergence of smart grids and energy-efficient transmission technologies has also considerably strengthened the market dynamics. Power transformers continue to remain indispensable worldwide as countries upgrade their aging power infrastructure and expand their clean-energy capacity.
Top Manufacturers
Bharat Heavy Electricals Limited
Founded: 1964Headquarters: India
Bharat Heavy Electricals Ltd is an engineering and manufacturing company. It designs, engineers, constructs, tests, commissions and executes projects across industries. The company provides a wide range of products and services across various industries. BHEL also offers renovation, modernization, uprating, residual life assessment, health diagnostics and plants' life extension services. It has interests in various projects under execution phase in various countries. BHEL serves customers in transportation, power generation, oil and gas, energy storage, renewable energy, water business, defense and aerospace in North America, South America, Asia Pacific, the Middle East and Africa. The company has manufacturing, regional marketing centers, repair centers, offices and service centers across India, and offices in overseas.
Daihen Corporation
Founded: 1919Headquarters: Japan
Daihen Corporation is a Japanese industrial equipment firm founded in 1919 and based in Kyoto. The company provides power transmission and distribution systems, welding machinery, automation technologies, and industrial robots for manufacturing. Its product portfolio encompasses circuit breakers, switchgear, vacuum equipment, robotic welding systems, and control solutions for the automotive, electrical utilities, construction, and infrastructure sectors. With a strong emphasis on R&D and a worldwide manufacturing network, the company supplies its products in Japan, the Asia-Pacific, European, and North American markets. Its commitment to innovation, quality craftsmanship, and sustainable technology solutions places the company as a valued supplier in industrial automation and power infrastructure markets.
General Electric
Establishment: 1892Headquarters: United States of America
General Electric Co. (GE) is an industrial conglomerate. The company provides a range of industrial, infrastructure and financial products and services. It offers a wide range of products and services including aircraft engines and systems, healthcare systems and pharmaceutical diagnostics, power generation, and oil and gas production equipment apart from medical imaging, financing and industrial products. It also offers a comprehensive range of financial services to its customers. The company serves water, oil and gas, power, energy management, aviation, healthcare, digital, transportation, appliances and lighting industries amongst others. It has operations in North America, Europe, Asia, the Middle East, and Africa and other regions; and manufacturing facilities across the world. The company is headquartered in Boston, Massachusetts, the US.
Hitachi
Founded: 1970Headquarters: [external URL]
Hitachi Construction Machinery Co Ltd (HCM), a subsidiary of Hitachi Ltd, is a construction equipment and transportation machinery manufacturer. The company provides construction and mining equipment for digging, loading, breaking, grabbing, cutting, crushing, and screening purposes. Its portfolio of services includes excavators, wheel loaders, cranes and foundation machines, demolition equipment, dump trucks, loading shovels, and compaction equipment. The company also provides troubleshooting, technical training, and extended warranty services; and mine management services. HCM serves its products to residential and building construction, plant construction, urban development, infrastructure maintenance and mining resources, demolition, waste recycling, and agricultural markets. The company has manufacturing facilities in Japan and operates in Asia and Oceania, Europe, Africa, the Middle East, and the Americas.
Hyosung Heavy Industries Corporation
Founded: 1962Headquarters: South Korea
Hyosung Corp. engages in diversified business operations as a conglomerate. The main activities of the company include textiles, advanced materials, chemicals, heavy industry, construction, trade, and information and communication. Its main products and services are innovative textile technology, advanced materials, IT infrastructure, power grid systems, eco-friendly construction, and chemical materials technology. The products and services of Hyosung serve industries ranging from home to industry and finance, applied in specific sectors like the manufacture of tires, automotive interior fabric, and the generation of power. The company distributes its products and services through a global trade network and sales representatives. It offers its products and services in the US, Europe, Asia, the Middle East, among other geographic locations.
Product Launches in Power Transformer Market
Hyundai Electric & Energy Systems Co. Ltd.
Jan 2022, Hyundai Electric & Energy Systems Co., an affiliate of Hyundai Heavy Industries Group, said it has exported ultrahigh-voltage power transformers to Oman's state utility provider in a deal valued at US$8.5 million. The supply deal with the Oman Electricity Transmission Co., included the sales of three 400-kilovolt/500-megavolt ampere power transformers, which will be installed in a new substation north of Oman, Hyundai Electric said.Schneider Electric Se
October 2024, Schneider Electric, the leader in the digital transformation of energy management and automation, is launching MasterPacT MTZ Active - a game-changing new circuit breaker designed to set new benchmarks in safety, efficiency, and sustainability while assuring continuity of business operations. In an increasingly electric and digital world, MasterPacT MTZ Active will enable customers to address some of the complex daily challenges that they face: the need for 24/7 uptime, spiraling energy costs, and urgent calls for more sustainable practices.SWOT Analysis of the Company
CG Power & Industrial Solutions Ltd.
Strengths: Diverse product portfolio, sophisticated manufacturing facilities, and presence in global markets.Various competitive advantages lie with CG Power & Industrial Solutions Ltd. in the power transformer market, including a diversified product portfolio, state-of-the-art manufacturing capabilities, and presence in global markets. The production portfolio of the company includes EHV, distribution, and specialty power transformers that can be sold to utilities, industries, and infrastructure developers on a global scale. CG Power’s technologically advanced manufacturing facilities are supported by strong quality control and R&D expertise to ensure high efficiency, reliability, and long operational life for its transformers. Its strong presence in India, coupled with partnerships and exports in excess of 80 countries, further extends the market reach of the company. The experience of handling turnkey power projects gives the company an edge in offering a complete solution right from design to commissioning. With a thorough understanding of modernization on the grid, integration of renewables, and power needs of industry, CG Power is well positioned as a trusted supplier in the global transformer industry.
Fuji Electric Co., Ltd.
Strengths include state-of-the-art technological innovation, high-quality engineering, and strong presence in advanced power systems.
Fuji Electric Co., Ltd. shows strong strength in the power transformer market due to its advanced technological innovation, high-quality engineering capability, and strong presence in advanced power systems. As a major transformer manufacturer, Fuji Electric is well regarded for highly efficient, compact, and environmentally friendly transformers comprising cast-resin, oil-immersed, and eco-friendly units. With its broad experiences in the field of power electronics, Fuji is capable of embedding smart monitoring systems, advanced insulation, and low-loss core technologies into the design of its transformers. With strong R&D capabilities, continuous innovation aligned with global trends in smart grids and renewable energy integration supports competitive advantage. Fuji Electric maintains a number of operations globally, spanning Asia, Europe, and North America, building a reliable network of supply and service. A commitment to quality, adherence to international standards, and proven track records of involvement within important energy-intensive industrial sectors - manufacturing, utilities, and transport - strengthen its leading position. Efficiency, sustainability, and reliability continue to make Fuji Electric a strategic partner to meet modern power infrastructure demands.Recent Development in the Power Transformer Market
Kirloskar Electric Co. Ltd.
March 2022, Kirloskar Oil Engines Limited has launched its high-efficiency low voltage electric motors powering machines in all applications across industries. These motors are manufactured with high-grade copper wires, BIS-approved, and in NABL-accredited test lab to ensure top-class performance and efficiency.Siemens Energy AG
September 2025, Siemens lays the cornerstone for the new Siemens Technology Campus in Erlangen, Germany. A lighthouse project of the initiative Made for Germany, the Technology Campus will further strengthen the economic viability of Germany and the region primarily in the area of power electronics. In this initiative, leading companies and investors have teamed up across sectors to foster a strong, successful and sustainable economy in Germany.Sustainability Goal
ABB Ltd.
ABB Ltd.'s business involves power transformers that are built on the foundation of sustainability, with an unstinting focus on energy efficiency, carbon footprint reduction, and other 'green' technologies. The company aspires to lead the transition to low-loss, eco-efficient transformers that assist global decarbonization and the modernization of smart grids. ABB develops transformers with biodegradable insulating fluids, reduced core losses, and sophisticated digital monitoring systems that allow for better energy efficiency and extend product life. The company is committed to carbon neutrality in all its operations by 2030 through the adoption of renewable energy, minimization of waste, and optimization of manufacturing processes. ABB supports the key principles of a circular economy with enhanced recyclability of transformer materials and the minimization of resource consumption throughout its production. ABB accelerates clean electricity integration into the power networks through collaboration with utilities, industries, and renewable energy projects. This is a proven example of sustainability-driven innovation wherein power transformers contribute to resilient, low-carbon electrical infrastructure, and will be future-ready across the globe.TBEA Co, Ltd.
TBEA Co., Ltd. advances sustainability in the power transformer market through green manufacturing, high-efficiency transformer technology, and renewable energy integration. The company focuses on designing transformers with reduced energy losses, environmentally safe insulating materials, and extended service life to reduce environmental impact. It works actively to support global clean energy efforts by supplying transformers for solar, wind, and ultra-high-voltage transmission projects that raise energy efficiency and cut emissions. Sustainable production practices include energy-efficient facilities, water-saving processes, and strict pollution control at the heart of its operational strategy. TBEA invests in recycling and sourcing raw materials that are compliant with international environmental standards. TBEA's commitment to digitalization and smart transformer solutions enables real-time monitoring, improved grid stability, and optimization of energy distribution. With innovation paired with environmental responsibility, TBEA aims at the advancement of sustainable, reliable, and modern infrastructure in developing and developed markets.Market Segmentation
Power Transformer Market
- Historical Trends
- Forecast Analysis
Market Share Analysis - Power Transformer Market
Bharat Heavy Electricals Limited
Overview
- Company History and Mission
- Business Model and Operations
Workforce
Key Persons
- Executive Leadership
- Operational Management
- Division Leaders
- Board Composition
Recent Development & Strategies
- Mergers & Acquisitions
- Partnerships
- Investments
Sustainability Analysis
- Renewable Energy Adoption
- Energy-Efficient Infrastructure
- Use of Sustainable Packaging Materials
- Water Usage and Conservation Strategies
- Waste Management and Circular Economy Initiatives
Product Analysis
- Product Profile
- Quality Standards
- Product Pipeline
- Product Benchmarking
Strategic Assessment: SWOT Analysis
- Strengths
- Weaknesses
- Opportunities
- Threats
Revenue Analysis
The above information will be available for all the following companies:
- Bharat Heavy Electricals Limited
- Daihen Corporation
- General Electric Company
- Hitachi Ltd.
- Hyosung Heavy Industries Corporation
- Hyundai Electric & Energy Systems Co. Ltd.
- Kirloskar Electric Co. Ltd.
- Mitsubishi Electric Power Products Inc. (Mitsubishi Electric Corporation)
- Schneider Electric Se
- Siemens Energy AG
- ABB Ltd.
- TBEA Co., Ltd.
- CG Power & Industrial Solutions Ltd.
- Fuji Electric Co., Ltd.
- Toshiba Energy Systems & Solutions Corporation
- WEG SA
- SGB SMIT GmbH
- Alstom Grid (formerly part of AREVA)
- JSHP Transformer Co., Ltd.
- China XD Group
Table of Contents
1. Power Transformer Market
3. Bharat Heavy Electricals Limited
The above information will be provided for all the following companies:
Companies Mentioned
- Bharat Heavy Electricals Limited
- Daihen Corporation
- General Electric Company
- Hitachi Ltd.
- Hyosung Heavy Industries Corporation
- Hyundai Electric & Energy Systems Co. Ltd.
- Kirloskar Electric Co. Ltd.
- Mitsubishi Electric Power Products Inc. (Mitsubishi Electric Corporation)
- Schneider Electric Se
- Siemens Energy AG
- ABB Ltd.
- TBEA Co., Ltd.
- CG Power & Industrial Solutions Ltd.
- Fuji Electric Co., Ltd.
- Toshiba Energy Systems & Solutions Corporation
- WEG SA
- SGB SMIT GmbH
- Alstom Grid (formerly part of AREVA)
- JSHP Transformer Co., Ltd.
- China XD Group
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | December 2025 |
| Forecast Period | 2025 - 2033 |
| Estimated Market Value ( USD | $ 28.92 Billion |
| Forecasted Market Value ( USD | $ 52.16 Billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 20 |
