PUBLISHER: The Business Research Company | PRODUCT CODE: 1713302
PUBLISHER: The Business Research Company | PRODUCT CODE: 1713302
High-power transformers are typically characterized as transformers with power ratings ranging from 801 MVA to 1200 MVA. These transformers play a crucial role in converting voltages, often transforming them from higher to lower levels or adapting them from one stage or phase configuration to another. High-power transformers serve diverse purposes, including electrical insulation, power distribution, control, and instrumentation.
In the high-power transformers market, the primary types include single-phase and three-phase transformers. Single-phase transformers operate using single-phase alternating current and depend on a voltage cycle that operates in a unified time phase. These transformers can be mounted using various techniques, including pad, pole, PC/PCB, and others, and find applications in industrial, commercial, and residential settings.
The high-power transformers market research report is one of a series of new reports from The Business Research Company that provides high-power transformers market statistics, including high-power transformers industry global market size, regional shares, competitors with a high-power transformers market share, detailed high-power transformers market segments, market trends and opportunities, and any further data you may need to thrive in the high-power transformers industry. This high-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 high power transformers market size has grown steadily in recent years. It will grow from $10.51 billion in 2024 to $10.94 billion in 2025 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to electricity demand, infrastructure development, technological advancements, energy sector growth.
The high power transformers market size is expected to see steady growth in the next few years. It will grow to $12.49 billion in 2029 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to renewable energy integration, grid modernization, electrification trends, grid resilience. Major trends in the forecast period include grid modernization, smart transformers, electrification of transportation, digital substations.
The government-led initiatives aimed at universal electricity access are fueling the demand for high-power transformers. Globally, governments are striving to bring electricity to rural and hard-to-reach areas, consequently bolstering the need for rural electrification. A prime example is the Government of India's efforts to enhance the country's electricity production. In July 2022, the Indian government initiated the restructured distribution sector scheme within the power sector. This scheme is designed to reinforce India's commitment to renewable energy objectives and its aspirations for eco-friendly transportation.
The high-power transformer market is experiencing growth driven by surging electricity demand and consumption in the historical period. Electricity demand signifies the overall electrical power required by consumers and industries at any given time. High-power transformers play a critical role in meeting this demand by enabling the efficient transmission and distribution of electrical power. As of June 2023, the Energy Institute (EI) reported a 2.3% global increase in total electricity generation in 2022. Furthermore, primary energy consumption in non-OECD countries soared by 20.5 exajoules from pre-COVID 2019 levels, primarily due to China's substantial growth of 14.6 exajoules, constituting 72% of the overall rise. Consequently, the escalating electricity demand is anticipated to drive the expansion of the high-power transformer market.
The transformer manufacturing industry is witnessing a shift towards the development of autonomous and adaptive smart transformers. These transformers are equipped to continually regulate voltage, maintain communication with stakeholders, and offer data and insights on power supply. They deliver precise power levels required and adapt to fluctuations through voltage optimization, significantly reducing both greenhouse gas emissions and power usage. As an example, the US Department of Energy (DOE) committed a $7.5 million investment for advancing smart transformer research to bolster grid resilience. Companies are encouraged to explore technology investments aimed at producing smart transformers tailored for commercial use.
Major players in the high-power transformer market are strategically concentrating on innovating dry type transformers, such as CAREPOLE, to establish a competitive edge. CAREPOLE represents an innovative dry-type single-phase transformer intended for pole applications within power grids, offering a sustainable alternative to oil-filled transformers. Siemens Energy AG, a German-based energy corporation, launched CAREPOLE in April 2022, specifically engineered to meet the technological requirements of the American power grid. This state-of-the-art cast-resin distribution transformer presents a reliable and environmentally conscious substitute for conventional oil-filled transformers. Notably, it's designed as a convenient plug-and-play solution, incorporating a fixing mechanism akin to traditional fluid-immersed transformers.
In August 2024, Mitie Group PLC, a UK-based facility management company, acquired ESM Power Ltd. for an undisclosed amount. Through this acquisition, Mitie Group PLC aims to enhance its integrated facilities management services, focusing on improving efficiency and sustainability. ESM Power Ltd. is a UK-based company that specializes in manufacturing electrical and power distribution products.
Major companies operating in the high power transformers market include Schneider Electric, Hyosung Corporation Power & Industrial Performance, Performance Group, Hyundai Heavy Industries Co. Ltd., TBEA Co. Ltd., Mitsubishi Electric Corporation, Hammond Power Solutions Inc., SPX Transformer Solutions Inc., Jinpan International Limited, Hitachi Ltd., SGB-SMIT Group, Jefferson Electric Inc., CG Power Systems Canada Inc., Toshiba Corporation, KOTSONS Pvt. Ltd., Layer Electronics Co. Ltd., LS ELECTRIC Co. Ltd., Kirloskar Electric Company Limited, Mace Industries Limited, ALTRAFO Transformers South Africa (Pty) Ltd., DuPont de Nemours Inc., ELANTAS Beck India Limited, Eremu S.A., Fuji Electric Co. Ltd., WEG S.A., Jiangsu Huapeng Transformer Co. Ltd., ABB Asea Brown Boveri Ltd., Bharat Heavy Electricals Limited, Crompton Greaves Limited, Siemens Aktiengesellschaft, Alstom SA
Asia-Pacific was the largest region in the high power transformers market in 2024. Western Europe is the second-largest region in the high power transformers market. The regions covered in the high power transformers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the high power transformers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The high-power transformers market consists of sales of single-phase high-power transformers, three phases high power transformers, and other high-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.
High Power Transformers Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on high power 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.
Where is the largest and fastest growing market for high power transformers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The high power transformers market global report from the Business Research Company answers all these questions and many more.
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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.