PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1568775
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1568775
North America Transformer Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The North America Transformer Market size will expand at an 8.1% CAGR from 2024 to 2032, driven by surging electricity demand and expanding manufacturing operations across various companies. The International Energy Agency (IEA) recently reported a 2.5% rise in U.S. power demand through 2026. Transformers are being upgraded across the region to manage higher capacities and enhance efficiency within power distribution networks. These enhancements along with the incorporation of advanced materials and technologies, aim for superior performance and extended service life. Such innovations bolster reliability, curtail losses, and facilitate the integration of renewable energy sources, further complimenting the industry growth.
The market is segregated into core, product, winding, cooling, insulation, rating, mounting, application, and country.
In terms of core, the closed segment in the North America transformer industry is set to experience growth at a commendable rate through 2032. This surge is attributed to the increasing adoption of closed cores, which minimize magnetic flux leakage. The closed core design not only enhances energy transfer but also curtails losses when compared with traditional core setups. Current advancements are fine-tuning materials and engineering methods to elevate the reliability and operational prowess of closed core transformers.
By product, the North America transformer market share from the instrument transformer segment is projected to rise from 2024 to 2032. This growth is fueled by the escalating demand for precise measurement and control in electrical systems, particularly in stepping down high voltages or currents for safe monitoring and analysis. Recent innovations are aligning with the dynamic requirements of power management and monitoring systems, ensuring instrument transformers deliver heightened performance and reliability in the present intricate electrical networks.
Canada transformer industry size is projected to depict a robust CAGR between 2024 and 2032 largely due to stringent government regulations and standards. Recent adjustments are helping in integrating advanced technologies and materials, ensuring alignment with these dynamic standards. These continuous advancements not only guarantee compliance with current regulations but also position transformers to meet future standards, bolstering the reliable and sustainable operation of the power distribution systems in the nation.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market definitions
- 1.2 Base estimates and calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
Chapter 2 Industry Insights
- 2.1 Industry ecosystem analysis
- 2.2 Regulatory landscape
- 2.3 Industry impact forces
- 2.3.1 Growth drivers
- 2.3.2 Industry pitfalls and challenges
- 2.4 Growth potential analysis
- 2.5 Porter's analysis
- 2.5.1 Bargaining power of suppliers
- 2.5.2 Bargaining power of buyers
- 2.5.3 Threat of new entrants
- 2.5.4 Threat of substitutes
- 2.6 PESTEL analysis
Chapter 3 Competitive landscape, 2023
- 3.1 Strategic dashboard
- 3.2 Innovation and technology landscape
Chapter 4 Market Size and Forecast, By Core, 2021 - 2032 ('000 Units and USD Million)
- 4.1 Key trends
- 4.2 Closed
- 4.3 Shell
- 4.4 Berry
Chapter 5 Market Size and Forecast, By Product, 2021 - 2032 ('000 Units and USD Million)
- 5.1 Key trends
- 5.2 Distribution transformer
- 5.3 Power transformer
- 5.4 Instrument transformer
- 5.5 Others
Chapter 6 Market Size and Forecast, By Winding, 2021 - 2032 ('000 Units and USD Million)
- 6.1 Key trends
- 6.2 Two winding
- 6.3 Auto-transformer
Chapter 7 Market Size and Forecast, By Cooling, 2021 - 2032 ('000 Units and USD Million)
- 7.1 Key trends
- 7.2 Dry type
- 7.2.1 Self-air
- 7.2.2 Air blast
- 7.3 Oil immersed
- 7.3.1 Self-cooled
- 7.3.2 Water cooled
- 7.3.3 Forced oil
- 7.3.4 Others
Chapter 8 Market Size and Forecast, By Insulation, 2021 - 2032 ('000 Units and USD Million)
- 8.1 Key trends
- 8.2 Gas
- 8.3 Oil
- 8.4 Solid
- 8.5 Air
- 8.6 Others
Chapter 9 Market Size and Forecast, By Rating, 2021 - 2032 ('000 Units and USD Million)
- 9.1 Key trends
- 9.2 <= 10 MVA
- 9.3 > 10 MVA to <= 100 MVA
- 9.4 > 100 MVA to <= 600 MVA
- 9.5 > 600 MVA
Chapter 10 Market Size and Forecast, By Mounting, 2021 - 2032 ('000 Units and USD Million)
- 10.1 Key trends
- 10.2 Pad
- 10.3 Pole
- 10.4 Others
Chapter 11 Market Size and Forecast, By Application, 2021 - 2032 ('000 Units and USD Million)
- 11.1 Key trends
- 11.2 Residential
- 11.3 Commercial and industrial
- 11.4 Utility
Chapter 12 Market Size and Forecast, By Country, 2021 - 2032 ('000 Units and USD Million)
- 12.1 Key trends
- 12.2 U.S.
- 12.3 Canada
- 12.4 Mexico
Chapter 13 Company Profiles
- 13.1 ARTECHE
- 13.2 Amran Inc
- 13.3 ABB
- 13.4 Continental Electric
- 13.5 CG Power and Industrial Solutions Ltd.
- 13.6 Celme S.r.l.
- 13.7 Elsewedy Electric
- 13.8 Eaton
- 13.9 General Electric
- 13.10 Hitachi Energy Ltd.
- 13.11 Hyosung Heavy Industries
- 13.12 Kirloskar Electric Company
- 13.13 Mitsubishi Electric Corporation
- 13.14 Ormazabal
- 13.15 Prolec GE
- 13.16 Pfiffner Group
- 13.17 Siemens Energy
- 13.18 Schneider Electric
- 13.19 Toshiba International Corporation
- 13.20 Trench Group
- 13.21 Xignux
