Report Scope:
This report analyzes different transformer types, capacity ratings, phases, insulation types, mounting locations, end-use industries, and regional market development of transformers. Furthermore, we also segment the market analysis by major countries in this report, such as the U.S., China, Germany, India, and others, where the opportunities for transformers are lucrative.
The report is prepared in a simple, easy-to-understand format; tables and figures are included to illustrate historical, current, and future market scenarios. The report also covers leading companies with information on product types, business footprint, revenue, and more. We have also included a list of other companies in global and regional markets. Also, the report consists of a patent analysis for the transformer market, representing a significant investment area for investors.
The report incorporates the impacts of COVID-19 and the Russia-Ukraine war on the global and regional markets.
In this report, 2021 is used as the market's base year, estimated values are provided for 2022, and the market values are forecast from 2022 to 2027. All market values are provided in millions of dollars, and market shares and CAGRs are provided in percentages.
Report Includes:
- 53 tables and 28 additional tables
- An up-to-date overview and industry analysis of the global markets for electrical transformers
- Analyses of the global market trends, with historic market revenue data (sales figures) for 2021, estimates for 2022, forecasts for 2023, and projections of compound annual growth rates (CAGRs) through 2027
- Estimation of the actual market size and revenue forecast for global transformers market in USD million terms, and corresponding market share analysis by type, capacity rating, phase, insulation type, end-use industry, and region
- In-depth information (facts and figures) concerning the major factors influencing the progress of this market (benefits, and industry-specific challenges) with respect to specific growth trends, upcoming technologies, future prospects, and contributions to the overall market
- Analysis of market opportunities with a holistic study of Porter's Analysis and PESTLE Analysis for relevant geographic regions in the global transformer industry
- Insight into the recent industry structure, competitive aspects of each product segment, increasing investment on R&D activities to develop low-cost advanced transformer technologies, market development strategies, and company value share analysis
- Identification of major stakeholders and analysis of the company competitive landscape based on their recent developments, financial performance, segmental revenues, and operational integration
- Review of key patent grants and significant allotments of recent patents across each major category
- Descriptive company profiles of the market leading players, including ABB Ltd., BHEL, DAIHEN Corp., General Electric Co., Mitsubishi Electric Corp. and Siemens AG
Summary:
The transformer is an electrical device that is used to transfer electrical energy from one alternating-current circuit to another circuit or multiple circuits, through the process of electromagnetic induction.
Transformers are used for a wide range of purposes, such as increasing the voltage from electric generators for longer-distance transmission of electricity and decreasing the voltage of conventional power circuits to run low-voltage devices for residential applications.
Transformers are basically of two types: step-up, and step-down transformers. They are also used for measuring the voltage and current of high-voltage lines with the help of potential transformers such as current transformers and potential transformers.
The transformers are used in rectifiers, voltage regulators, voltage stabilizers, and power supplies for impedance matching, isolating two electric circuits, increasing or decreasing the alternating voltages, and other applications. It is used in the automobile industry, wherein the emergence of "smart transformers" came into existence that can be used for charging multiple electric vehicles at a time. It is also used in a wide range of industries such as metal & mining, oil & gas, chemical, pharmaceutical, FMCG industries, and power generation, among other industries.
The demand for the transformer is highly dependent on growing industrialization, urbanization, and increasing consumers' inclination towards renewable energy generation. Also, the growing population is increasing power consumption and electricity demand, which is further aiding the demand for the new erection of transmission and distribution lines.
The government's support towards harnessing renewable energy in wake of achieving sustainable and clean energy targets is fueling the demand for transformers. Also, increasing investment in smart grid projects and refurbishments in the existing grid infrastructure is augmenting the transformer demand. Thus, such factors are attributed to the demand for the transformers, which drives the market growth over the projected timeframe.
The technological advancements in transformer products are highly acceptable owing to the growing demand for centralized power distribution networks and increasing focus on power distribution infrastructure, which is further elevating the demand for smart transformer solutions. The usage of high-temperature materials and the integration of sensors and monitoring systems are prominent technological developments that are creating a potential opportunity for market growth.
The Asia-Pacific region is dominating the transformer market owing to the rise in electricity demand due to the increase in population. The growth is also attributed to the rapid development of the economy and the growing need for an uninterrupted and reliable power supply from industrial and commercial applications.
According to BCC Research's estimates, by the end of 2027, the global value of the transformer market is expected to reach $REDACTED billion. The market is projected to grow at a compound annual growth rate (CAGR) of REDACTED% during the forecast period.
Global Markets for Transformers
Table of Contents
Chapter 1 Introduction
1.1 Overview
1.2 Study Goals and Objectives
1.3 Reasons for Doing This Study
1.4 What's New in This Update?
1.5 Scope of Report
1.6 Information Sources
1.7 Intended Audience
1.8 Research Methodology
1.9 Regional Breakdown
1.10 Analyst's Credentials
1.11 BCC Custom Research
1.12 Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
3.1 Current Market Overview
3.2 Classification of Insulating Materials Used in Transformers
3.3 Necessity of Upgrading Oil Transformers
3.4 Signs That Indicate Transformer Needs Maintenance
3.5 Different Types of Transformer Failure Modes
3.6 Causes of Failures in Transformer by Type
3.7 Transformers Types
3.8 Value Chain Analysis for the Transformers Market
3.9 Porter's Five Forces Model
3.10 PESTLE Analysis
3.11 COVID-19's Impact on the Global Transformer Market
3.12 Russia--Ukraine War Impact on the Global Transformer Market
Chapter 4 Global Market Dynamics
4.1 Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Current Market Trends
4.5 Market Opportunities
Chapter 5 Market Breakdown by Type
5.1 Overview
5.2 Global Market by Type
5.3 North American Market by Type
5.4 European Market by Type
5.5 Asia-Pacific Market by Type
5.6 Rest of the World Market by Type
Chapter 6 Market Breakdown by Capacity Rating
6.1 Overview
6.2 Global Market by Capacity Rating
6.3 North American Market by Capacity Rating
6.4 European Market by Capacity Rating
6.5 Asia-Pacific Market by Capacity Rating
6.6 Rest of the World Market by Capacity Rating
Chapter 7 Market Breakdown by Phase
7.1 Overview
7.2 Global Market by Phase
7.3 North American Market by Phase
7.4 European Market by Phase
7.5 Asia-Pacific Market by Phase
7.6 Rest of the World Market by Phase
Chapter 8 Market Breakdown by Insulation Type
8.1 Overview
8.2 Global Market, by Insulation Type
8.2.1 Solid
8.2.2 Oil
8.2.3 Gas
8.3 North American Market by Insulation Type
8.4 European Market by Insulation Type
8.5 Asia-Pacific Market by Insulation Type
8.6 Rest of the World Market by Insulation Type
Chapter 9 Market Breakdown by Mounting Location
9.1 Overview
9.2 Global Market by Mounting Location
9.2.1 Pad Mounted
9.2.2 Pole Mounted
9.3 North American Market by Mounting Location
9.4 European Market by Mounting Location
9.5 Asia-Pacific Market by Mounting Location
9.6 Rest of the World Market by Mounting Location
Chapter 10 Market Breakdown by End-Use Industry
10.1 Overview
10.2 Global Market by End-Use Industry
10.2.1 Residential and Commercial
10.2.2 Industrial
10.2.3 Power Utilities
10.3 North American Market by End-Use Industry
10.4 European Market by End-Use Industry
10.5 Asia-Pacific by End-Use Industry
10.6 Rest of the World Market by End-Use Industry
Chapter 11 Market Breakdown by Region
11.1 Overview
11.2 North America
11.2.1 North American Transformer Market by Country
11.3 European Market
11.3.1 European Transformer Market by Country
11.4 Asia-Pacific
11.4.1 Asia-Pacific Transformer Market by Country
11.5 Rest of the World Market
11.5.1 Rest of the World Transformer Market by Country
Chapter 12 Patent Analysis
12.1 Overview
12.2 Descriptions of Patents on Transformers
Chapter 13 Competitive Landscape
13.1 Overview
13.2 Market Share Analysis
13.3 Strategic Analysis
13.4 Product Mapping Analysis
13.4.1 Product Mapping Analysis, by Transformer Capacity
13.5 Key Developments
13.6 List of Resources for Transformers
Chapter 14 Company Profiles
14.1 Overview
ABB LTD.
BHARAT HEAVY ELECTRICALS LIMITED
CELME S.R.L.
CG POWER AND INDUSTRIAL SOLUTIONS LTD.
DAIHEN CORP.
EATON CORPORATION PLC
GENERAL ELECTRIC CO.
HAMMOND POWER SOLUTIONS
HYOSUNG HEAVY INDUSTRIES
HYUNDAI ELECTRIC & ENERGY SYSTEMS CO., LTD.
JIANGSU HUAPENG TRANSFORMER CO. LTD.
MITSUBISHI ELECTRIC CORP.
SCHNEIDER ELECTRIC
SIEMENS AG
TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION
WEG
Chapter 15 Appendix: Acronyms
List of Tables
Summary Table : Global Market for Transformers, by Region, Through 2027
Table 1 : Classification of Insulating Materials
Table 2 : Characteristics of Transformer Oil
Table 3 : General Overview of the Main Types of Electrical Transformers
Table 4 : Loss-Reduction Techniques for Transformers
Table 5 : Cost of Transformer for a 750 KVA Transformer
Table 6 : Global Market for Transformers, by Type, Through 2027
Table 7 : North American Market for Transformers, by Type, Through 2027
Table 8 : European Market for Transformers, by Type, Through 2027
Table 9 : Asia-Pacific Market for Transformers, by Type, Through 2027
Table 10 : Rest of the World Market for Transformers, by Type, Through 2027
Table 11 : Global Market for Transformers, by Capacity Rating, Through 2027
Table 12 : North American Market for Transformers, by Capacity Rating, Through 2027
Table 13 : European Market for Transformers, by Capacity Rating, Through 2027
Table 14 : Asia-Pacific Market for Transformers, by Capacity Rating, Through 2027
Table 15 : Rest of the World Market for Transformers, by Capacity Rating, Through 2027
Table 16 : Global Market for Transformers, by Phase, Through 2027
Table 17 : North American Market for Transformers, by Phase, Through 2027
Table 18 : European Market for Transformers, by Phase, Through 2027
Table 19 : Asia-Pacific Market for Transformers, by Phase, Through 2027
Table 20 : Rest of the World Market for Transformers, by Phase, Through 2027
Table 21 : Global Market for Transformers, by Insulation Type, Through 2027
Table 22 : North American Market for Transformers, by Insulation Type, Through 2027
Table 23 : European Market for Transformers, by Insulation Type, Through 2027
Table 24 : Asia-Pacific Market for Transformers, by Insulation Type, Through 2027
Table 25 : Rest of the World Market for Transformers, by Insulation Type, Through 2027
Table 26 : Global Market for Transformers, by Mounting Location, Through 2027
Table 27 : North American Market for Transformers, by Mounting Location, Through 2027
Table 28 : European Market for Transformers, by Mounting Location, Through 2027
Table 29 : Asia-Pacific Market for Transformers, by Mounting Location, Through 2027
Table 30 : Rest of the World Market for Transformers, by Mounting Location, Through 2027
Table 31 : Global Market for Transformers, by End-Use Industry, Through 2027
Table 32 : North American Market for Transformers, by End-Use Industry, Through 2027
Table 33 : European Market for Transformers, by End-Use Industry, Through 2027
Table 34 : Asia-Pacific Market for Transformers, by End-Use Industry, Through 2027
Table 35 : Rest of the World Market for Transformers, by End-Use Industry, Through 2027
Table 36 : Global Market for Transformers, by Region, Through 2027
Table 37 : North American Market for Transformers, by Country, Through 2027
Table 38 : European Market for Transformers, by Country, Through 2027
Table 39 : Asia-Pacific Market for Transformers, by Country, Through 2027
Table 40 : Rest of the World Market for Transformers, by Region, Through 2027
Table 41 : Patents Published on Transformer Components, January 2021-December 2022
Table 42 : Number of Patents Published on Transformers, by Top 20 Companies, 2021-2022
Table 43 : Competitive Information for Top Players in the Global Transformer Market, 2021
Table 44 : Product Mapping Analysis, by Capacity Rating for Top Companies
Table 45 : New Product Launches for Key Players, January 2020 to December 2022
Table 46 : Acquisitions and Collaborations, by Key Players, January 2020 to December 2022
Table 47 : Expansions, by Key Players, January 2020 to March 2023
Table 48 : Contracts/Partnership/Agreements/Joint Ventures, by Key Players, January 2021 to March 2023
Table 49 : List of Resources Used for Transformers
Table 50 : ABB Ltd.: Product Offering
Table 51 : ABB Ltd.: Financial Overview, 2019-2021
Table 52 : BHEL: Product Portfolio
Table 53 : BHEL: Financial Overview, 2019-2021
Table 54 : Celme S.R.L.: Product Portfolio
Table 55 : CG Power and Industrial Solutions Ltd.: Product Portfolio
Table 56 : CG Power and Industrial Solutions Ltd.: Financial Overview, 2019-2021
Table 57 : DAIHEN Corp.: Product Portfolio
Table 58 : DAIHEN Corp.: Financial Overview, 2019-2021
Table 59 : EATON Corporation PLC: Product Portfolio
Table 60 : EATON Corporation PLC: Financial Overview, 2019-2021
Table 61 : General Electric Co.: Product Portfolio
Table 62 : General Electric Co.: Financial Overview, 2020-2022
Table 63 : Hammond Power Solutions: Product Portfolio
Table 64 : Hammond Power Solutions: Financial Overview, 2019-2021
Table 65 : Hyosung Heavy Industries: Product Portfolio
Table 66 : Hyosung Heavy Industries: Financial Overview, 2019-2021
Table 67 : Hyundai Electric & Energy Systems Co. Ltd.: Product Portfolio
Table 68 : Hyundai Electric & Energy Systems Co. Ltd.: Financial Overview, 2019-2021
Table 69 : JiangSu HuaPeng Transformer Co. Ltd.: Product Portfolio
Table 70 : Mitsubishi Electric Corp.: Product Portfolio
Table 71 : Mitsubishi Electric Corp.: Financial Overview, 2019-2021
Table 72 : Schneider Electric: Product Portfolio
Table 73 : Schneider Electric: Financial Overview, 2019-2021
Table 74 : Siemens AG: Product Portfolio
Table 75 : Siemens AG: Financial Overview, 2019-2021
Table 76 : Toshiba Energy Systems & Solutions Corporation Product Portfolio
Table 77 : Toshiba Energy Systems & Solutions Corporation: Financial Overview, 2019-2021
Table 78 : WEG: Product Portfolio
Table 79 : WEG: Financial Overview, 2019-2021
Table 80 : Acronyms and Abbreviations Used in This Report
List of Figures
Summary Figure : Global Market Shares of Transformers, by Region, 2021
Figure 1 : Properties of Insulating Materials
Figure 2 : Insulating Materials Used in Transformer
Figure 3 : Usage of Kraft Paper in the Transformers
Figure 4 : Forms of Pressboards and Usage in Transformers
Figure 5 : Signs Indicating Transformer Needs Inspection
Figure 6 : Causes of Failures in Transformer, by Type
Figure 7 : Causes of Failures in Transformer, by Bushings
Figure 8 : Value Chain Analysis for the Transformer Market
Figure 9 : Porter's Five Forces Model for the Transformer Market
Figure 10 : PESTLE Analysis for Transformer Market
Figure 11 : Global Market Dynamics
Figure 12 : Investments in Digital Infrastructure in Transmission and Distribution Electricity Grids, 2017-2021
Figure 13 : Capacity Addition of Renewable Energy, 2019-2027
Figure 14 : Increasing Electricity Consumption, by Region, 2020 and 2021
Figure 15 : Restraints on the Global Market
Figure 16 : Current Trends in the Global Market
Figure 17 : Growing Investment in Electricity Grid, 2017-2021
Figure 18 : Opportunities in the Global Transformer Market
Figure 19 : Growing Investment in Greenfield FDI Projects, 2017-2021
Figure 20 : Global Market Shares of Transformers, by Type, 2021
Figure 21 : North American Market Shares of Transformers, by Type, 2021
Figure 22 : European Market Shares of Transformers, by Type, 2021
Figure 23 : Asia-Pacific Market Shares of Transformers, by Type, 2021
Figure 24 : Rest of the World Market Shares of Transformers, by Type, 2021
Figure 25 : Global Market Shares of Transformers, by Capacity Rating, 2021
Figure 26 : North American Market Shares of Transformers, by Capacity Rating, 2021
Figure 27 : European Market Shares of Transformers, by Capacity Rating, 2021
Figure 28 : Asia-Pacific Market Shares of Transformers, by Capacity Rating, 2021
Figure 29 : Rest of the World Market Shares of Transformers, by Capacity Rating, 2021
Figure 30 : Global Market Shares of Transformers, by Phase, 2021
Figure 31 : North American Market Shares of Transformers, by Phase, 2021
Figure 32 : European Market Shares of Transformers, by Phase, 2021
Figure 33 : Asia-Pacific Market Shares of Transformers, by Phase, 2021
Figure 34 : Rest of the World Market Shares of Transformers, by Phase, 2021
Figure 35 : Global Market Shares of Transformers, by Insulation Type, 2021
Figure 36 : North American Market Shares of Transformers, by Insulation Type, 2021
Figure 37 : European Market Shares of Transformers, by Insulation Type, 2021
Figure 38 : Asia-Pacific Market Shares of Transformers, by Insulation Type, 2021
Figure 39 : Rest of the World Market Shares of Transformers, by Insulation Type, 2021
Figure 40 : Global Market Shares of Transformers, by Mounting Location, 2021
Figure 41 : North American Market Shares of Transformers, by Mounting Location, 2021
Figure 42 : European Market Shares of Transformers, by Mounting Location, 2021
Figure 43 : Asia-Pacific Market Shares of Transformers, by Mounting Location, 2021
Figure 44 : Rest of the World Market Shares of Transformers, by Mounting Location, 2021
Figure 45 : Global Market Shares of Transformers, by End-Use Industry, 2021
Figure 46 : North American Market Shares of Transformers, by End-Use Industry, 2021
Figure 47 : European Market Shares of Transformers, by End-Use Industry, 2021
Figure 48 : Asia-Pacific Market Shares of Transformers, by End-Use Industry, 2021
Figure 49 : Rest of the World Market Shares of Transformers, by End-Use Industry, 2021
Figure 50 : Global Market Shares of Transformers, by Region, 2021
Figure 51 : North American Market Shares of Transformers, by Country, 2021
Figure 52 : European Market Shares of Transformers, by Country, 2021
Figure 53 : Asia-Pacific Market Shares of Transformers, by Country, 2021
Figure 54 : Rest of the World Market Shares of Transformers, by Region, 2021
Figure 55 : Shares of Patents Published on Transformers, by Assignee Country, 2021
Figure 56 : Shares of Patents Published on Transformers, by Assignee Country, 2022*
Figure 57 : Global Transformers Top Players Shares, Strategic Analysis
Figure 58 : ABB Ltd.: Revenue Share, by Business Segment, 2021
Figure 59 : ABB Ltd.: Revenue Share, by Region, 2021
Figure 60 : ABB Ltd.: SWOT Analysis
Figure 61 : BHEL: Revenue Share, by Business Segment, 2021
Figure 62 : BHEL: Revenue Share, by Region, 2021
Figure 63 : BHEL: SWOT Analysis
Figure 64 : Celme S.R.L.: SWOT Analysis
Figure 65 : CG Power and Industrial Solutions Ltd.: Revenue Share, by Business Segment, 2021
Figure 66 : CG Power and Industrial Solutions Ltd.: Revenue Share, by Region, 2021
Figure 67 : CG Power and Industrial Solutions Ltd.: SWOT Analysis
Figure 68 : DAIHEN Corp.: Revenue Share, by Business Segment, 2021
Figure 69 : DAIHEN Corp.: Revenue Share, by Region/Country, 2021
Figure 70 : DAIHEN Corp.: SWOT Analysis
Figure 71 : EATON Corporation PLC: Revenue Share, by Business Segment, 2021
Figure 72 : EATON Corporation PLC: Revenue Share, by Region/Country, 2021
Figure 73 : EATON Corporation PLC: SWOT Analysis
Figure 74 : General Electric Co.: Revenue Share, by Business Segment, 2022
Figure 75 : General Electric Co.: Revenue Share, by Region/Country, 2022
Figure 76 : General Electric Co.: SWOT Analysis
Figure 77 : Hammond Power Solutions: Revenue Share, by Country, 2021
Figure 78 : Hammond Power Solutions: SWOT Analysis
Figure 79 : Hyosung Heavy Industries: Revenue Share, by Region/Country, 2021
Figure 80 : Hyosung Heavy Industries: SWOT Analysis
Figure 81 : Hyundai Electric & Energy Systems Co. Ltd.: Revenue Share, by Region/Country, 2021
Figure 82 : Hyundai Electric & Energy Systems Co. Ltd.: SWOT Analysis
Figure 83 : JiangSu HuaPeng Transformer Co. Ltd.: SWOT Analysis
Figure 84 : Mitsubishi Electric Corp.: Revenue Share, by Business Segment, 2021
Figure 85 : Mitsubishi Electric Corp.: Revenue Share, by Region/Country, 2021
Figure 86 : Mitsubishi Electric Corp.: SWOT Analysis
Figure 87 : Schneider Electric: Revenue Share, by Business Segment, 2021
Figure 88 : Schneider Electric: Revenue Share, by Region, 2021
Figure 89 : Schneider Electric: SWOT Analysis
Figure 90 : Siemens AG: Revenue Share, by Business Segment, 2021
Figure 91 : Siemens AG: Revenue Share, by Region, 2021
Figure 92 : Siemens AG: SWOT Analysis
Figure 93 : Toshiba Energy Systems & Solutions Corporation: Revenue Share, by Business Segment, 2021
Figure 94 : Toshiba Energy Systems & Solutions Corporation: Revenue Share, by Region/Country, 2021
Figure 95 : Toshiba Energy Systems & Solutions Corporation: SWOT Analysis
Figure 96 : WEG: SWOT Analysis
Global Transformer Monitoring Market Research Report 2024
Published: 10-Jan-2024 Price: US 2900 Onwards Pages: 81
A transformer is an electrical equipment that helps in varying The voltage of The electric current. This stepping up and stepping down of The voltage is especially important when a safe amount of electric current is required to be supplied to The end users. In order to ensure continuous and safe transmission of electricity from The power generation plant to The end users, The transformers utilized for this purpose have to be monitored continuously in real time. This is achieved by installing a t......
Global Transformer Monitoring System Market Research Report 2024
Published: 08-Jan-2024 Price: US 2900 Onwards Pages: 104
A transformer is an electrical equipment that helps in varying The voltage of The electric current. This stepping up and stepping down of The voltage is especially important when a safe amount of electric current is required to be supplied to The end users. In order to ensure continuous and safe transmission of electricity from The power generation plant to The end users, The transformers utilized for this purpose have to be monitored continuously in real time. This is achieved by installing a t......
Global Phase Shifting Transformers Market Growth 2024-2030
Published: 04-Jan-2024 Price: US 3660 Onwards Pages: 89
According to our LPI (LP Information) latest study, the global Phase Shifting Transformers market size was valued at US$ 94 million in 2023. With growing demand in downstream market, the Phase Shifting Transformers is forecast to a readjusted size of US$ 149.3 million by 2030 with a CAGR of 6.8% during review period.
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Published: 04-Jan-2024 Price: US 3660 Onwards Pages: 93
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Published: 04-Jan-2024 Price: US 3660 Onwards Pages: 108
According to our LPI (LP Information) latest study, the global Transformer Monitoring System market size was valued at US$ 2191.7 million in 2023. With growing demand in downstream market, the Transformer Monitoring System is forecast to a readjusted size of US$ 2872.9 million by 2030 with a CAGR of 3.9% during review period.
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Published: 04-Jan-2024 Price: US 3660 Onwards Pages: 151
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Published: 04-Jan-2024 Price: US 3660 Onwards Pages: 157
According to our LPI (LP Information) latest study, the global Switch Mode Power Supply Transformers market size was valued at US$ 1739.3 million in 2023. With growing demand in downstream market, the Switch Mode Power Supply Transformers is forecast to a readjusted size of US$ 1547 million by 2030 with a CAGR of -1.7% during review period.
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