Power Transformer Market by Power Rating (Small Power Transformer (Up To 60 MVA), Medium Power Transformer (61- 600 MVA), Large Power Transformer (Above 600 MVA)), Cooling Type (Oil-cooled, Air-cooled), Phase (Single, Three) - Global Forecast to 2029
The global market for Power Transformers is poised for substantial growth, with a projected trajectory reaching USD 37.7 billion by the year 2029. This represents a noteworthy increase from the estimated value of USD 27.9 billion in 2024, reflecting a steady Compound Annual Growth Rate (CAGR) of 6.2% over the period spanning from 2024 to 2029. Several factors are driving robust growth in the power transformer market, notably the increasing global demand for energy, which has significantly boosted electricity consumption in recent years. The industrial sector plays a pivotal role in this surge, fueled by escalating industrialization, manufacturing activities, and infrastructure development across various regions. As industries grow and modernize, there is a corresponding increase in the demand for efficient and reliable electrical power distribution systems, with power transformers being key components. Beyond industrial uses, the demand for power transformers is also rising in the commercial, service, and residential sectors. Commercial enterprises depend heavily on a stable and continuous power supply to sustain operations. Similarly, the service sector, which includes healthcare, education, and hospitality, is consuming more electricity. Furthermore, driven by population growth and urbanization, the residential sector requires dependable power distribution to support homes and communities.
Power transformers are essential for efficiently adjusting power rating and providing effective cooling and cooling type, making them critical to maintaining the reliability and stability of electrical grids. These components ensure a steady flow of electricity across various economic sectors. As the global energy scenario continues to evolve, factors like the integration of renewable energy sources, advancements in smart grid technologies, and a focus on energy efficiency will further drive the demand for power transformers. Moreover, the growing need to modernize and upgrade aging power infrastructure in various regions is contributing to the ongoing expansion of the market.
“Large Power Transformer (Above 600 MVA) segment, by voltage, to be fastest growing market from 2024 to 2029.”
The Large Power Transformer (Above 600 MVA) segment is anticipated to be the fastest-growing market from 2024 to 2029 due to several pivotal factors. Firstly, the global push towards renewable energy and the integration of large-scale renewable projects like wind farms and solar parks require robust transmission infrastructure capable of handling high voltage levels over long distances with minimal losses, making large transformers indispensable. Additionally, regions undergoing rapid industrialization and urbanization are expanding and upgrading their power grids to meet escalating energy demands, which necessitates the deployment of large power transformers. There is also a growing trend towards interconnecting power grids over vast geographical areas to enhance reliability and stability of power supply, further driving demand for high-capacity transformers. Moreover, initiatives to replace aging infrastructure in developed countries with more efficient and reliable systems underscore the need for these large transformers. Collectively, these dynamics are propelling the growth of the Large Power Transformer segment as critical components in modern energy networks.
“Three phased transformer, by phase type, to be the largest market from 2024 to 2029.”
The three-phase transformer segment is projected to be the largest market from 2024 to 2029, primarily due to its extensive application in commercial, industrial, and utility sectors which demand high power capacities for efficient energy transmission and distribution. Three-phase transformers are essential in these settings because they provide a consistent power flow and greater efficiency, especially suitable for high-load applications. As global industrial activities and energy consumption increase, the need for robust infrastructure to handle substantial electrical loads also rises, driving the demand for three-phase transformers. Additionally, these transformers are integral in integrating renewable energy sources into the power grid, facilitating the transition to sustainable energy practices. The widespread adoption across various high-demand sectors, coupled with their capacity to efficiently manage larger loads, makes three-phase transformers a dominant force in the transformer market during this period.
“Asia Pacific to be largest and fastest growing region in power transformer market.”
Asia Pacific is projected to be both the largest and fastest-growing region in the power transformer market, primarily due to the region's rapid economic expansion, significant investments in infrastructure development, and an increasing focus on renewable energy. Countries like China and India are leading this growth with substantial urbanization and industrialization initiatives that require extensive upgrades and expansions of their power distribution and transmission networks. Furthermore, these countries have ambitious renewable energy targets to meet their carbon reduction goals, necessitating the integration of renewable power sources into the grid, which relies heavily on power transformers. Additionally, the region's commitment to improving rural electrification and modernizing aging grid infrastructures to reduce losses and increase efficiency is driving demand for new and advanced power transformers. This surge in demand across multiple fronts makes Asia Pacific the largest and fastest-growing market for power transformers.
Breakdown of Primaries:
Through in-depth interviews with subject-matter experts, C-level executives of leading market players, industry consultants, and other specialists, significant qualitative and quantitative data were obtained and confirmed, along with future market prospects. The primary interviews were distributed as follows:
By Company Type: Tier 1-45%, Tier 2-40%, and Tier 3-15%
By Designation: C-Level-35%, D-Level-25%, and Others-40%
By Region: North America–18%, Europe–15%, Asia Pacific–50%, Middle East & Africa–10%, and South America–7%
Note: “Others” include sales managers, engineers, and regional managers
The tiers of the companies are defined based on their total revenue as of 2022: Tier 1: >USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3:
The market for Power Transformers is primarily controlled by reputable international giants. In the industrial control transformer market, some of the leading companies are Hitachi Energy (Japan), General Electric (US), Siemens (Germany), Schneider Electric (France), Mitsubishi Electric (Japan), Eaton Corporation (Ireland), Hyundai Electric (South Korea), Fuji Electric (Japan), Toshiba corporation (Japan), MGM Transformer Company (California), CG Power and Industrial Solutions (India) and a few more.
Research Coverage:
The report provides an in-depth analysis of the Power Transformers market, complete with thorough definitions, descriptions, and projections based on various parameters. These parameters encompass Phase (Single, Three), Power Rating (Small Power Transformer (Up To 60 MVA), Medium Power Transformer (61- 600 MVA), Large Power Transformer (Above 600 MVA)), Cooling Type (Oil-cooled & Air-cooled), End-User (Industrial, Residential & Commercial, Utilities), and geographic regions (Asia Pacific, North America, Europe, Middle East and Africa, South America). It offers both qualitative and quantitative assessments, focusing on the primary market drivers, constraints, opportunities, and challenges. The report also covers essential elements of the market such as competitive landscape assessment, analysis of market dynamics, value-based estimations, and future trend insights in the Power Transformers market.
Key Benefits of Buying the Report
The report is thoughtfully designed to meet the needs of both seasoned industry leaders and new entrants in the Power Transformers market. It provides dependable revenue projections for both the overall market and its various sub-segments, making it a crucial tool for stakeholders looking to gain a deep understanding of the competitive environment. This information helps stakeholders develop effective market strategies for their businesses. Furthermore, the report serves as a key resource for stakeholders to grasp the current market scenario, offering vital insights into the drivers, constraints, challenges, and opportunities for growth. With these insights, stakeholders can make well-informed decisions and keep up with the rapidly changing dynamics of the Power Transformers industry.
Power transformers are essential for efficiently adjusting power rating and providing effective cooling and cooling type, making them critical to maintaining the reliability and stability of electrical grids. These components ensure a steady flow of electricity across various economic sectors. As the global energy scenario continues to evolve, factors like the integration of renewable energy sources, advancements in smart grid technologies, and a focus on energy efficiency will further drive the demand for power transformers. Moreover, the growing need to modernize and upgrade aging power infrastructure in various regions is contributing to the ongoing expansion of the market.
“Large Power Transformer (Above 600 MVA) segment, by voltage, to be fastest growing market from 2024 to 2029.”
The Large Power Transformer (Above 600 MVA) segment is anticipated to be the fastest-growing market from 2024 to 2029 due to several pivotal factors. Firstly, the global push towards renewable energy and the integration of large-scale renewable projects like wind farms and solar parks require robust transmission infrastructure capable of handling high voltage levels over long distances with minimal losses, making large transformers indispensable. Additionally, regions undergoing rapid industrialization and urbanization are expanding and upgrading their power grids to meet escalating energy demands, which necessitates the deployment of large power transformers. There is also a growing trend towards interconnecting power grids over vast geographical areas to enhance reliability and stability of power supply, further driving demand for high-capacity transformers. Moreover, initiatives to replace aging infrastructure in developed countries with more efficient and reliable systems underscore the need for these large transformers. Collectively, these dynamics are propelling the growth of the Large Power Transformer segment as critical components in modern energy networks.
“Three phased transformer, by phase type, to be the largest market from 2024 to 2029.”
The three-phase transformer segment is projected to be the largest market from 2024 to 2029, primarily due to its extensive application in commercial, industrial, and utility sectors which demand high power capacities for efficient energy transmission and distribution. Three-phase transformers are essential in these settings because they provide a consistent power flow and greater efficiency, especially suitable for high-load applications. As global industrial activities and energy consumption increase, the need for robust infrastructure to handle substantial electrical loads also rises, driving the demand for three-phase transformers. Additionally, these transformers are integral in integrating renewable energy sources into the power grid, facilitating the transition to sustainable energy practices. The widespread adoption across various high-demand sectors, coupled with their capacity to efficiently manage larger loads, makes three-phase transformers a dominant force in the transformer market during this period.
“Asia Pacific to be largest and fastest growing region in power transformer market.”
Asia Pacific is projected to be both the largest and fastest-growing region in the power transformer market, primarily due to the region's rapid economic expansion, significant investments in infrastructure development, and an increasing focus on renewable energy. Countries like China and India are leading this growth with substantial urbanization and industrialization initiatives that require extensive upgrades and expansions of their power distribution and transmission networks. Furthermore, these countries have ambitious renewable energy targets to meet their carbon reduction goals, necessitating the integration of renewable power sources into the grid, which relies heavily on power transformers. Additionally, the region's commitment to improving rural electrification and modernizing aging grid infrastructures to reduce losses and increase efficiency is driving demand for new and advanced power transformers. This surge in demand across multiple fronts makes Asia Pacific the largest and fastest-growing market for power transformers.
Breakdown of Primaries:
Through in-depth interviews with subject-matter experts, C-level executives of leading market players, industry consultants, and other specialists, significant qualitative and quantitative data were obtained and confirmed, along with future market prospects. The primary interviews were distributed as follows:
By Company Type: Tier 1-45%, Tier 2-40%, and Tier 3-15%
By Designation: C-Level-35%, D-Level-25%, and Others-40%
By Region: North America–18%, Europe–15%, Asia Pacific–50%, Middle East & Africa–10%, and South America–7%
Note: “Others” include sales managers, engineers, and regional managers
The tiers of the companies are defined based on their total revenue as of 2022: Tier 1: >USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3:
The market for Power Transformers is primarily controlled by reputable international giants. In the industrial control transformer market, some of the leading companies are Hitachi Energy (Japan), General Electric (US), Siemens (Germany), Schneider Electric (France), Mitsubishi Electric (Japan), Eaton Corporation (Ireland), Hyundai Electric (South Korea), Fuji Electric (Japan), Toshiba corporation (Japan), MGM Transformer Company (California), CG Power and Industrial Solutions (India) and a few more.
Research Coverage:
The report provides an in-depth analysis of the Power Transformers market, complete with thorough definitions, descriptions, and projections based on various parameters. These parameters encompass Phase (Single, Three), Power Rating (Small Power Transformer (Up To 60 MVA), Medium Power Transformer (61- 600 MVA), Large Power Transformer (Above 600 MVA)), Cooling Type (Oil-cooled & Air-cooled), End-User (Industrial, Residential & Commercial, Utilities), and geographic regions (Asia Pacific, North America, Europe, Middle East and Africa, South America). It offers both qualitative and quantitative assessments, focusing on the primary market drivers, constraints, opportunities, and challenges. The report also covers essential elements of the market such as competitive landscape assessment, analysis of market dynamics, value-based estimations, and future trend insights in the Power Transformers market.
Key Benefits of Buying the Report
The report is thoughtfully designed to meet the needs of both seasoned industry leaders and new entrants in the Power Transformers market. It provides dependable revenue projections for both the overall market and its various sub-segments, making it a crucial tool for stakeholders looking to gain a deep understanding of the competitive environment. This information helps stakeholders develop effective market strategies for their businesses. Furthermore, the report serves as a key resource for stakeholders to grasp the current market scenario, offering vital insights into the drivers, constraints, challenges, and opportunities for growth. With these insights, stakeholders can make well-informed decisions and keep up with the rapidly changing dynamics of the Power Transformers industry.
- Analysis of key drivers (Growing Demand for Electricity, Integration of Renewable Energy Sources and their Impact on the Power Transformer Market), restraints (Cost Pressures and Lead Times Hinders the Power Transformer Growth, Limited Market Penetration in Developing Economies), opportunities (Rise of decentralized generation represents a significant transformation for the power transformer market, Smart Grid Development and the Rise of Advanced Transformers), and challenges (Aging infrastructure and a shortage of skilled workers, Cybersecurity threats pose a significant challenge for the power transformer market as power grids become increasingly digitalized) influencing the growth of the power transformer market.
- Product Development/ Innovation: In the power transformer market, product development and innovation are crucial elements driving the sector's progress. As technology advances, manufacturers are increasingly dedicated to crafting innovative products that enhance performance, efficiency, and safety. These advancements typically incorporate smart technologies, cutting-edge materials, and environmentally friendly insulation options, addressing the changing demands of the power distribution landscape. Additionally, ongoing research and development initiatives are focused on producing transformers that support sustainable and eco-conscious objectives. By embracing advanced technologies and innovative design techniques, companies in the oil-immersed power transformer market strive to not only comply with existing industry standards but also surpass them, offering customers top-of-the-line solutions that boost the efficiency and reliability of power distribution systems. This focus on continual product development and innovation reflects the industry's commitment to adapting to market shifts and enhancing the functionality and capabilities of power transformers.
- Market Development: Market development in the power transformer sector is an ongoing and dynamic process, driven by efforts to explore new geographic territories and application areas. Companies in this industry consistently look for opportunities to extend their market presence and respond to emerging demands. This often includes entering previously unexplored regions or adapting existing products for new applications. Additionally, market development strategies involve leveraging evolving trends, such as the growing integration of renewable energy sources and the upgrading of electrical grids. By actively engaging in these market development activities, companies not only expand their customer base but also tailor their products to meet the diverse and changing needs of different sectors. This strategic approach promotes sustained growth, enhances competitiveness, and equips companies to effectively manage the shifting dynamics of the power transformer market. Through focused efforts, collaborations, and strategic alliances, market development serves as a key pathway for securing long-term viability and prominence in this essential segment of the power distribution industry.
- Market Diversification: Market diversification in the power transformer industry involves expanding product lines and services strategically to reduce risks, tap into new revenue streams, and boost overall business resilience. Companies in this field may diversify by enlarging their selection of transformer types, voltage capacities, or specialized applications. This expansion could include breaking into niche markets, tailoring products for specific applications, or widening their product range to cater to a variety of customer needs. By broadening their portfolio, companies can decrease their dependence on specific products or market segments, enhancing their ability to manage market fluctuations and economic changes. Diversification may also entail geographic expansion into new regions or countries to leverage unique market demands. Effective diversification strategies are rooted in a deep understanding of market trends, consumer behaviors, and technological advancements, equipping companies to adjust and prosper in the constantly changing power transformer market. A well-executed approach to diversification enables companies to navigate market shifts, seize emerging opportunities, and maintain a competitive advantage in this challenging industry.
- Competitive Assessment: An extensive analysis of the market presence, growth plans, and service offerings of major competitors in the power transformer market has been conducted. This research has been applied to notable firms including Hitachi Energy (Japan), Siemens Energy (Germany), Schneider Electric (France), Toshiba Energy System & Solution Corporation (Japan), General Electric (US), and others. The assessment provides in-depth understanding of these big players' competitive positions, illuminating their growth-oriented strategies and range of offerings in the oil-immersed power transformer industry.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 POWER TRANSFORMER MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.3.3 INCLUSIONS AND EXCLUSIONS
1.3.4 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.9 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 POWER TRANSFORMER MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 List of primary interview participants
2.1.2.2 Key industry insights
2.1.2.3 Key data from primary sources
2.1.2.4 Breakdown of primaries
FIGURE 3 KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR POWER TRANSFORMERS
2.2 MARKET SIZE ESTIMATION METHODOLOGY
2.2.1 BOTTOM-UP APPROACH
FIGURE 4 POWER TRANSFORMER MARKET: BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
2.2.1.2 Regional analysis
2.2.1.3 Country-level analysis
2.2.1.3.1 Demand-side assumptions
2.2.1.3.2 Demand-side calculations
2.2.2 TOP-DOWN APPROACH
FIGURE 5 POWER TRANSFORMER MARKET: TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using top-down analysis (supply side)
FIGURE 6 KEY STEPS CONSIDERED TO ASSESS POWER TRANSFORMER SUPPLY
FIGURE 7 POWER TRANSFORMER MARKET: SUPPLY-SIDE ANALYSIS
2.2.2.1.1 Supply-side assumptions
2.2.2.1.2 Supply-side calculations
2.3 FORECAST
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 POWER TRANSFORMER MARKET: DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
2.6 RISK ASSESSMENT
TABLE 1 POWER TRANSFORMER MARKET: RISK ASSESSMENT
2.7 RECESSION IMPACT
2.8 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
TABLE 2 POWER TRANSFORMER MARKET SNAPSHOT
FIGURE 9 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF GLOBAL POWER TRANSFORMER MARKET IN 2023
FIGURE 10 UP TO 60 MVA SEGMENT TO HOLD LARGEST SHARE OF POWER TRANSFORMER MARKET, BY POWER RATING, IN 2024
FIGURE 11 THREE-PHASE SEGMENT TO DOMINATE POWER TRANSFORMER MARKET, BY PHASE, FROM 2024 TO 2029
FIGURE 12 OIL-COOLED SEGMENT TO HOLD LARGER SHARE OF POWER TRANSFORMER MARKET, BY COOLING TYPE, IN 2029
FIGURE 13 UTILITIES TO ACCOUNT FOR LARGEST SHARE OF POWER TRANSFORMER MARKET, BY END USER, IN 2029
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN POWER TRANSFORMER MARKET
FIGURE 14 BURGEONING POWER DEMAND DUE TO RAPID URBANIZATION TO FOSTER MARKET GROWTH
4.2 POWER TRANSFORMER MARKET, BY REGION
FIGURE 15 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN POWER TRANSFORMER MARKET DURING FORECAST PERIOD
4.3 POWER TRANSFORMER MARKET IN ASIA PACIFIC, BY PHASE AND COUNTRY
FIGURE 16 THREE-PHASE AND CHINA ACCOUNTED FOR LARGEST SHARES OF POWER TRANSFORMER MARKET IN ASIA PACIFIC IN 2023
4.4 POWER TRANSFORMER MARKET, BY POWER RATING
FIGURE 17 UP TO 60 MVA SEGMENT TO HOLD LARGEST SHARE OF POWER TRANSFORMER MARKET IN 2029
4.5 POWER TRANSFORMER MARKET, BY PHASE
FIGURE 18 THREE-PHASE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2029
4.6 POWER TRANSFORMER MARKET, BY COOLING TYPE
FIGURE 19 OIL-COOLED ACCOUNTED FOR LARGER MARKET SHARE THAN AIR-COOLED IN 2029
4.7 POWER TRANSFORMER MARKET, BY END USER
FIGURE 20 UTILITIES TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 21 POWER TRANSFORMER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising focus on grid modernization to meet peak power demand
FIGURE 22 ELECTRICITY DEMAND, BY REGION, 2019–2025
5.2.1.2 Increasing emphasis on renewable energy capacity expansion
FIGURE 23 GLOBAL INVESTMENT IN CLEAN ENERGY AND FOSSIL FUELS, 2015–2023
5.2.2 RESTRAINTS
5.2.2.1 Limited budget for grid expansion projects in developing economies
FIGURE 24 ENERGY INVESTMENTS IN EMERGING MARKETS, BY SOURCE TYPE, 2019 AND 2022
5.2.2.2 Shortage of skilled professionals for installing advanced transformers
5.2.3 OPPORTUNITIES
5.2.3.1 Rise of decentralized power generation
5.2.3.2 Shift from traditional to smart grid infrastructure
FIGURE 25 GLOBAL INVESTMENTS IN POWER GRIDS, 2015–2022
5.2.4 CHALLENGES
5.2.4.1 Cybersecurity threats posed by grid digitalization
5.3 PORTER’S FIVE FORCES ANALYSIS
FIGURE 26 PORTER’S FIVE FORCES ANALYSIS
TABLE 3 PORTER’S FIVE FORCES ANALYSIS
5.3.1 THREAT OF SUBSTITUTES
5.3.2 BARGAINING POWER OF SUPPLIERS
5.3.3 BARGAINING POWER OF BUYERS
5.3.4 THREAT OF NEW ENTRANTS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 SUPPLY CHAIN ANALYSIS
FIGURE 27 SUPPLY CHAIN ANALYSIS
5.5 TECHNOLOGY ANALYSIS
5.5.1 KEY TECHNOLOGIES
5.5.1.1 High-temperature superconducting (HTS) transformers
5.5.2 COMPLEMENTARY TECHNOLOGIES
5.5.2.1 Artificial intelligence-based digital fault protection relays
5.6 KEY CONFERENCES AND EVENTS, 2024
TABLE 4 LIST OF KEY CONFERENCES AND EVENTS, 2024
5.7 ECOSYSTEM ANALYSIS
FIGURE 28 POWER TRANSFORMER ECOSYSTEM
TABLE 5 ROLE OF COMPANIES IN POWER TRANSFORMER ECOSYSTEM
5.8 PATENT ANALYSIS
FIGURE 29 PATENTS APPLIED AND GRANTED, 2014–2023
TABLE 6 LIST OF PATENTS, 2021–2024
5.9 CASE STUDY ANALYSIS
5.9.1 ABB IMPLEMENTS ONLINE OIL RECLAMATION SERVICE TO ADDRESS DETERIORATING OIL CONDITION OF TRANSFORMERS AT DEESIDE POWER STATION
5.9.2 SPECIALIZED EQUIPMENT AND ECO-FRIENDLY TECHNIQUES ADDRESS OIL LEAKS AND ENHANCE TRANSFORMER SAFETY AT CENTRAL CITY SUBSTATION
5.9.3 COMPREHENSIVE TESTING AND MAINTENANCE PROGRAMS HELP ADDRESS MINOR LEAKS AND OPERATIONAL HAZARDS OF AGING TRANSFORMERS AT BIG RIVER SUBSTATION
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO (HS CODE 850423 AND HS CODE 850434)
TABLE 7 IMPORT DATA FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, BY COUNTRY, 2021–2023 (USD)
FIGURE 30 IMPORT DATA FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, BY COUNTRY, 2021–2023 (USD)
TABLE 8 IMPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS OF >500 KVA (EXCL. LIQUID DIELECTRIC TRANSFORMERS), BY COUNTRY, 2021–2023 (USD)
FIGURE 31 IMPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS OF >500 KVA (EXCL. LIQUID DIELECTRIC TRANSFORMERS), BY COUNTRY, 2021–2023 (USD)
5.10.2 EXPORT SCENARIO (HS CODE 850423 AND HS CODE 850434)
TABLE 9 EXPORT DATA FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, BY COUNTRY, 2021–2023 (USD)
FIGURE 32 EXPORT DATA FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, BY COUNTRY, 2021–2023 (USD)
TABLE 10 EXPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS OF >500 KVA (EXCL. LIQUID DIELECTRIC TRANSFORMERS), BY COUNTRY, 2021–2023 (USD)
FIGURE 33 EXPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS OF >500 KVA (EXCL. LIQUID DIELECTRIC TRANSFORMERS), BY COUNTRY, 2021–2023 (USD)
5.11 PRICING ANALYSIS
5.11.1 INDICATIVE PRICE TREND, BY POWER RATING
TABLE 11 INDICATIVE PRICE TREND, BY POWER RATING
5.11.2 AVERAGE SELLING PRICE TREND, BY REGION
FIGURE 34 AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023
TABLE 12 AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023 (USD THOUSAND/UNIT)
5.12 INVESTMENT AND FUNDING SCENARIO
FIGURE 35 INVESTMENT AND FUNDING SCENARIO
5.13 TARIFF AND REGULATORY LANDSCAPE
5.13.1 TARIFF ANALYSIS
TABLE 13 MFN TARIFF FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, 2022
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 17 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.13.3 CODES AND REGULATIONS
TABLE 18 CODES AND REGULATIONS
5.14 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 36 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 37 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
TABLE 19 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
5.15.2 BUYING CRITERIA
FIGURE 38 KEY BUYING CRITERIA FOR TOP THREE END USERS
TABLE 20 KEY BUYING CRITERIA FOR TOP THREE END USERS
6 US POWER TRANSFORMER BUSINESS SCENARIO
6.1 CAUSES OF POWER TRANSFORMER SUPPLY SHORTAGE
6.2 INCREASING PRICE OF MATERIALS USED IN POWER TRANSFORMERS
6.3 CORE STEEL SOURCES
6.4 AMORPHOUS STEEL SOURCES
6.5 POLICIES RELATED TO POWER TRANSFORMERS
7 POWER TRANSFORMER MARKET, BY POWER RATING
7.1 INTRODUCTION
FIGURE 39 POWER TRANSFORMER MARKET SHARE, BY POWER RATING, 2023
TABLE 21 POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 22 POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
7.2 UP TO 60 MVA
7.2.1 REQUIREMENT FOR DECENTRALIZED ENERGY GENERATION FOR URBAN POPULATION TO FUEL SEGMENTAL GROWTH
TABLE 23 UP TO 60 MVA: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 24 UP TO 60 MVA: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
7.3 61–600 MVA
7.3.1 RAPID INDUSTRIALIZATION IN DEVELOPING COUNTRIES TO BOOST SEGMENTAL GROWTH
TABLE 25 61–600 MVA: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 26 61–600 MVA: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
7.4 ABOVE 600 MVA
7.4.1 MODERNIZATION AND EXPANSION OF POWER TRANSMISSION INFRASTRUCTURE TO AUGMENT SEGMENTAL GROWTH
TABLE 27 ABOVE 600 MVA: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 28 ABOVE 600 MVA: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
8 POWER TRANSFORMERS MARKET, BY COOLING TYPE
8.1 INTRODUCTION
FIGURE 40 OIL-COOLED SEGMENT HELD LARGER SHARE OF POWER TRANSFORMER MARKET IN 2023
TABLE 29 POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 30 POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
8.2 OIL-COOLED
8.2.1 EXCELLENT THERMAL PROPERTIES AND RELIABILITY TO FOSTER SEGMENTAL GROWTH
TABLE 31 OIL-COOLED: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 32 OIL-COOLED: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
8.3 AIR-COOLED
8.3.1 SIMPLICITY AND LOW-MAINTENANCE REQUIREMENTS TO CONTRIBUTE TO SEGMENTAL GROWTH
TABLE 33 AIR-COOLED: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 34 AIR-COOLED: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
9 POWER TRANSFORMER MARKET, BY PHASE
9.1 INTRODUCTION
FIGURE 41 POWER TRANSFORMER MARKET SHARE, BY PHASE, 2023
TABLE 35 POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 36 POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
9.2 SINGLE-PHASE
9.2.1 LOW MANUFACTURING COSTS AND EASY INSTALLATION TO CONTRIBUTE TO SEGMENTAL GROWTH
TABLE 37 SINGLE-PHASE: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 38 SINGLE-PHASE: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
9.3 THREE-PHASE
9.3.1 BALANCED POWER DISTRIBUTION AND HIGH EFFICIENCY TO ACCELERATE SEGMENTAL GROWTH
TABLE 39 THREE-PHASE: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 40 THREE-PHASE: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
10 POWER TRANSFORMER MARKET, BY END USER
10.1 INTRODUCTION
FIGURE 42 POWER TRANSFORMER MARKET SHARE, BY END USER, 2023
TABLE 41 POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 42 POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
10.2 UTILITIES
10.2.1 INCREASING GOVERNMENT INVESTMENT IN SMART GRID TECHNOLOGIES TO CONTRIBUTE TO SEGMENTAL GROWTH
TABLE 43 UTILITIES: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 44 UTILITIES: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
10.3 RESIDENTIAL & COMMERCIAL
10.3.1 GROWING DEMAND FOR DISTRIBUTION TRANSFORMERS TO ENSURE UNINTERRUPTED POWER SUPPLY TO FOSTER SEGMENTAL GROWTH
TABLE 45 RESIDENTIAL & COMMERCIAL: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 46 RESIDENTIAL & COMMERCIAL: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
10.4 INDUSTRIAL
TABLE 47 INDUSTRIAL: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 48 INDUSTRIAL: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 49 INDUSTRIAL: POWER TRANSFORMER MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)
TABLE 50 INDUSTRIAL: POWER TRANSFORMER MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)
10.4.1 OIL & GAS
10.4.1.1 Increasing need for high-efficiency transformers to facilitate pipeline operations to drive market
10.4.2 METALS & MINING
10.4.2.1 Growing demand for amorphous core transformers for mineral extraction, refining, and processing to foster segmental growth
10.4.3 AUTOMOTIVE
10.4.3.1 Rising development of electric vehicle charging infrastructure to boost segmental growth
10.4.4 FOOD & BEVERAGES
10.4.4.1 Increasing reliance on food refrigeration and freezing units to contribute to segmental growth
10.4.5 POWER GENERATION
10.4.5.1 Rising emphasis on grid modernization and sustainability to augment segmental growth
10.4.6 DATA CENTERS
10.4.6.1 Growing demand for UPS transformers to ensure uninterrupted operation of crucial equipment to fuel segmental growth
10.4.7 OTHER INDUSTRIES
11 POWER TRANSFORMER MARKET, BY REGION
11.1 INTRODUCTION
FIGURE 43 POWER TRANSFORMER MARKET SHARE, BY REGION, 2023
FIGURE 44 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN POWER TRANSFORMER MARKET FROM 2024 TO 2029
TABLE 51 POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 52 POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 53 POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 54 POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (UNITS)
11.2 NORTH AMERICA
11.2.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN NORTH AMERICA
TABLE 55 NORTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 56 NORTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 57 NORTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 58 NORTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 59 NORTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 60 NORTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 61 NORTH AMERICA: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 62 NORTH AMERICA: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 63 NORTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 64 NORTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.2.2 US
11.2.2.1 Rising preference for renewable energy sources to contribute to market growth
TABLE 65 US: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 66 US: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.2.3 CANADA
11.2.3.1 Increasing government initiatives to support grid modernization and increase energy efficiency to drive market
TABLE 67 CANADA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 68 CANADA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.2.4 MEXICO
11.2.4.1 Growing population and industrialization to contribute to market growth
TABLE 69 MEXICO: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 70 MEXICO: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3 EUROPE
11.3.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN EUROPE
FIGURE 45 EUROPE: POWER TRANSFORMER MARKET SNAPSHOT
TABLE 71 EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 72 EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 73 EUROPE: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 74 EUROPE: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 75 EUROPE: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 76 EUROPE: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 77 EUROPE: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 78 EUROPE: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 79 EUROPE: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 80 EUROPE: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.3.2 GERMANY
11.3.2.1 Rising emphasis on transitioning to sustainable energy sources to maintain grid resilience to propel market
TABLE 81 GERMANY: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 82 GERMANY: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.3 UK
11.3.3.1 Increasing focus on achieving net-zero carbon footprint and modernizing grid to fuel market growth
TABLE 83 UK: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 84 UK: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.4 ITALY
11.3.4.1 Mounting government investment in power transmission and distribution networks to boost market growth
TABLE 85 ITALY: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 86 ITALY: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.5 FRANCE
11.3.5.1 Rising concerns about aging infrastructure to contribute to market growth
TABLE 87 FRANCE: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 88 FRANCE: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.6 SPAIN
11.3.6.1 Escalating private investment in smart grid infrastructure to foster market growth
TABLE 89 SPAIN: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 90 SPAIN: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.7 REST OF EUROPE
TABLE 91 REST OF EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 92 REST OF EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4 ASIA PACIFIC
11.4.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN ASIA PACIFIC
FIGURE 46 ASIA PACIFIC: POWER TRANSFORMER MARKET SNAPSHOT
TABLE 93 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 94 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 95 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 96 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 97 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 98 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 99 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 100 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 101 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 102 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.4.2 CHINA
11.4.2.1 Rapid industrialization and infrastructural development to accelerate market growth
TABLE 103 CHINA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 104 CHINA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.3 INDIA
11.4.3.1 Requirement for electric vehicle charging infrastructure to drive market
TABLE 105 INDIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 106 INDIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.4 JAPAN
11.4.4.1 Heightened emphasis on integrating smart grids and renewable energy to fuel market growth
TABLE 107 JAPAN: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 108 JAPAN: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.5 SOUTH KOREA
11.4.5.1 Robust energy infrastructure and grid modernization efforts to foster market growth
TABLE 109 SOUTH KOREA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 110 SOUTH KOREA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.6 AUSTRALIA
11.4.6.1 Shift to renewable energy sources to contribute to market growth
TABLE 111 AUSTRALIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 112 AUSTRALIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.7 REST OF ASIA PACIFIC
TABLE 113 REST OF ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING 2020–2023 (USD MILLION)
TABLE 114 REST OF ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5 MIDDLE EAST & AFRICA
11.5.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN MIDDLE EAST & AFRICA
TABLE 115 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 116 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 117 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 118 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 119 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 120 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 121 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 122 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 123 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 124 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 125 GCC: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 126 GCC: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.5.2 GCC COUNTRIES
11.5.2.1 Saudi Arabia
11.5.2.1.1 Transition from petroleum to balanced mix of natural gas and renewable energy for power generation to drive market
TABLE 127 SAUDI ARABIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 128 SAUDI ARABIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5.2.2 UAE
11.5.2.2.1 Implementation of initiatives to increase access to reliable and sustainable electricity to augment market growth
TABLE 129 UAE: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 130 UAE: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5.2.3 Rest of GCC countries
TABLE 131 REST OF GCC COUNTRIES: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 132 REST OF GCC COUNTRIES: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5.3 SOUTH AFRICA
11.5.3.1 Increasing investment in power infrastructure due to industrialization to fuel market growth
TABLE 133 SOUTH AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 134 SOUTH AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5.4 REST OF MIDDLE EAST & AFRICA
TABLE 135 REST OF MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 136 REST OF MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.6 SOUTH AMERICA
11.6.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN SOUTH AMERICA
TABLE 137 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 138 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 139 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 140 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 141 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 142 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 143 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 144 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 145 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 146 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.6.2 BRAZIL
11.6.2.1 Increasing electricity consumption due to economic development and urbanization to accelerate market growth
TABLE 147 BRAZIL: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 148 BRAZIL: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.6.3 ARGENTINA
11.6.3.1 Rising power generation from renewable sources to fuel market growth
TABLE 149 ARGENTINA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 150 ARGENTINA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.6.4 REST OF SOUTH AMERICA
TABLE 151 REST OF SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 152 REST OF SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
12 COMPETITIVE LANDSCAPE
12.1 INTRODUCTION
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024
TABLE 153 POWER TRANSFORMER MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2024
12.3 MARKET SHARE ANALYSIS, 2023
TABLE 154 POWER TRANSFORMER MARKET: DEGREE OF COMPETITION, 2023
FIGURE 47 POWER TRANSFORMER MARKET SHARE ANALYSIS, 2023
12.4 REVENUE ANALYSIS, 2018–2022
FIGURE 48 REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2018–2022
12.5 COMPANY VALUATION AND FINANCIAL METRICS
FIGURE 49 COMPANY VALUATION
FIGURE 50 FINANCIAL METRICS
12.6 BRAND/PRODUCT COMPARISON
FIGURE 51 BRAND/PRODUCT COMPARISON
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
12.7.1 STARS
12.7.2 EMERGING LEADERS
12.7.3 PERVASIVE PLAYERS
12.7.4 PARTICIPANTS
FIGURE 52 POWER TRANSFORMER MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
12.7.5.1 Company footprint
FIGURE 53 POWER TRANSFORMER MARKET: COMPANY FOOTPRINT
12.7.5.2 End user footprint
TABLE 155 POWER TRANSFORMER MARKET: END USER FOOTPRINT
12.7.5.3 Phase footprint
TABLE 156 POWER TRANSFORMER MARKET: PHASE FOOTPRINT
12.7.5.4 Power rating footprint
TABLE 157 POWER TRANSFORMER MARKET: POWER RATING FOOTPRINT
12.7.5.5 Cooling type footprint
TABLE 158 POWER TRANSFORMER MARKET: COOLING TYPE FOOTPRINT
12.7.5.6 Region footprint
TABLE 159 POWER TRANSFORMER MARKET: REGION FOOTPRINT
12.8 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
12.8.1 PROGRESSIVE COMPANIES
12.8.2 RESPONSIVE COMPANIES
12.8.3 DYNAMIC COMPANIES
12.8.4 STARTING BLOCKS
FIGURE 54 POWER TRANSFORMER MARKET: COMPANY EVALUATION MATRIX (START-UPS/SMES), 2023
12.8.5 COMPETITIVE BENCHMARKING: START-UPS/SMES, 2023
12.8.5.1 Detailed list of key start-ups/SMEs
TABLE 160 POWER TRANSFORMER MARKET: DETAILED LIST OF KEY START-UPS/SMES
12.8.5.2 Competitive benchmarking of key start-ups/SMEs
TABLE 161 POWER TRANSFORMER MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
12.9 COMPETITIVE SCENARIO AND TRENDS
12.9.1 PRODUCT LAUNCHES
TABLE 162 POWER TRANSFORMER MARKET: PRODUCT LAUNCHES, JANUARY 2020–FEBRUARY 2024
12.9.2 DEALS
TABLE 163 POWER TRANSFORMER MARKET: DEALS, JANUARY 2020–FEBRUARY 2024
12.9.3 EXPANSIONS
TABLE 164 POWER TRANSFORMER MARKET: EXPANSIONS, JANUARY 2020–FEBRUARY 2024
12.9.4 OTHERS
TABLE 165 POWER TRANSFORMER MARKET: OTHERS, JANUARY 2020–FEBRUARY 2024
13 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 SIEMENS ENERGY
TABLE 166 SIEMENS ENERGY: COMPANY OVERVIEW
FIGURE 55 SIEMENS ENERGY: COMPANY SNAPSHOT
TABLE 167 SIEMENS ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 168 SIEMENS ENERGY: DEALS
TABLE 169 SIEMENS ENERGY: EXPANSIONS
13.2 HITACHI ENERGY LTD.
TABLE 170 HITACHI ENERGY LTD.: COMPANY OVERVIEW
FIGURE 56 HITACHI ENERGY LTD.: COMPANY SNAPSHOT
TABLE 171 HITACHI ENERGY LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 172 HITACHI ENERGY LTD.: DEALS
TABLE 173 HITACHI ENERGY LTD.: EXPANSIONS
TABLE 174 HITACHI ENERGY LTD.: OTHERS
13.3 SCHNEIDER ELECTRIC
TABLE 175 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
FIGURE 57 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
TABLE 176 SCHNEIDER ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 177 SCHNEIDER ELECTRIC: DEALS
13.4 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION
TABLE 178 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: COMPANY OVERVIEW
FIGURE 58 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: COMPANY SNAPSHOT
TABLE 179 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 180 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: OTHERS
13.5 HD HYUNDAI ELECTRIC CO., LTD
TABLE 181 HD HYUNDAI ELECTRIC CO., LTD: COMPANY OVERVIEW
FIGURE 59 HD HYUNDAI ELECTRIC CO., LTD: COMPANY SNAPSHOT
TABLE 182 HD HYUNDAI ELECTRIC CO., LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 183 HD HYUNDAI ELECTRIC CO., LTD: OTHERS
13.6 GENERAL ELECTRIC COMPANY
TABLE 184 GENERAL ELECTRIC COMPANY: COMPANY OVERVIEW
FIGURE 60 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT
TABLE 185 GENERAL ELECTRIC COMPANY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 186 GENERAL ELECTRIC COMPANY: DEALS
TABLE 187 GENERAL ELECTRIC COMPANY: OTHERS
13.7 CG POWER AND INDUSTRIAL SOLUTIONS LTD.
TABLE 188 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW
FIGURE 61 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY SNAPSHOT
TABLE 189 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 190 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: EXPANSIONS
13.8 MITSUBISHI ELECTRIC CORPORATION
TABLE 191 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 62 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
13.8.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 192 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 193 MITSUBISHI ELECTRIC CORPORATION: DEALS
TABLE 194 MITSUBISHI ELECTRIC CORPORATION: OTHERS
13.9 HYOSUNG HEAVY INDUSTRIES
TABLE 195 HYUSONG HEAVY INDUSTRIES: COMPANY OVERVIEW
FIGURE 63 HYOSUNG HEAVY INDUSTRIES: COMPANY SNAPSHOT
TABLE 196 HYOSUNG HEAVY INDUSTRIES: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.10 BHARAT HEAVY ELECTRICALS LIMITED
TABLE 197 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW
FIGURE 64 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT
TABLE 198 BHARAT HEAVY ELECTRICALS LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 199 BHARAT HEAVY ELECTRICALS LIMITED: OTHERS
13.11 FUJI ELECTRIC CO., LTD.
TABLE 200 FUJI ELECTRIC CO LTD: COMPANY OVERVIEW
FIGURE 65 FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT
TABLE 201 FUJI ELECTRIC CO LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.12 SGB SMIT
TABLE 202 SBG SMIT: COMPANY OVERVIEW
TABLE 203 SBG SMIT: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 204 SGB SMIT: DEALS
TABLE 205 SGB SMIT: OTHERS
13.13 WEG
TABLE 206 WEG: COMPANY OVERVIEW
FIGURE 66 WEG: COMPANY SNAPSHOT
TABLE 207 WEG: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 208 WEG: DEALS
TABLE 209 WEG: EXPANSIONS
13.14 TRANSFORMER AND RECTIFIER INDIA LTD
TABLE 210 TRANSFORMER AND RECTIFIER INDIA LTD: COMPANY OVERVIEW
FIGURE 67 TRANSFORMER AND RECTIFIER INDIA LTD: COMPANY SNAPSHOT
TABLE 211 TRANSFORMER AND RECTIFIER INDIA LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.15 NIAGARA POWER TRANSFORMER CORP.
TABLE 212 NIAGARA POWER TRANSFORMER CORP.: COMPANY OVERVIEW
TABLE 213 NIAGARA POWER TRANSFORMER CORP.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.16 LS ELECTRIC CO., LTD.
TABLE 214 LS ELECTRIC CO., LTD.: COMPANY OVERVIEW
FIGURE 68 LS ELECTRIC CO., LTD.: COMPANY SNAPSHOT
TABLE 215 LS ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 216 LS ELECTRIC CO., LTD.: DEALS
TABLE 217 LS ELECTRIC CO., LTD.: OTHERS
13.17 HAMMOND POWER SOLUTIONS
TABLE 218 HAMMOND POWER SOLUTIONS: COMPANY OVERVIEW
FIGURE 69 HAMMOND POWER SOLUTIONS: COMPANY SNAPSHOT
TABLE 219 HAMMOND POWER SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.18 EFACEC
TABLE 220 EFACEC: COMPANY OVERVIEW
FIGURE 70 EFACEC: COMPANY SNAPSHOT
TABLE 221 EFACEC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 222 EFACEC: OTHERS
13.19 NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD.
TABLE 223 NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD: COMPANY OVERVIEW
TABLE 224 NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 225 NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD: PRODUCT LAUNCHES
13.20 MGM TRANSFORMER COMPANY
TABLE 226 MGM TRANSFORMER COMPANY: COMPANY OVERVIEW
TABLE 227 MGM TRANSFORMER COMPANY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.21 WILSON POWER SOLUTIONS
TABLE 228 WILSON POWER SOLUTIONS: COMPANY OVERVIEW
TABLE 229 WILSON POWER SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 230 WILSON POWER SOLUTIONS: OTHERS
13.22 OTHER PLAYERS
13.22.1 A B C TRANSFORMERS (P) LTD
13.22.2 VIJAY POWER
13.22.3 JSHP TRANSFORMER
13.22.4 CHINT GROUP
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 APPENDIX
14.1 INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATION OPTIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 POWER TRANSFORMER MARKET SEGMENTATION
1.3.2 REGIONAL SCOPE
1.3.3 INCLUSIONS AND EXCLUSIONS
1.3.4 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.9 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 POWER TRANSFORMER MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 List of primary interview participants
2.1.2.2 Key industry insights
2.1.2.3 Key data from primary sources
2.1.2.4 Breakdown of primaries
FIGURE 3 KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR POWER TRANSFORMERS
2.2 MARKET SIZE ESTIMATION METHODOLOGY
2.2.1 BOTTOM-UP APPROACH
FIGURE 4 POWER TRANSFORMER MARKET: BOTTOM-UP APPROACH
2.2.1.1 Approach to arrive at market size using bottom-up analysis (demand side)
2.2.1.2 Regional analysis
2.2.1.3 Country-level analysis
2.2.1.3.1 Demand-side assumptions
2.2.1.3.2 Demand-side calculations
2.2.2 TOP-DOWN APPROACH
FIGURE 5 POWER TRANSFORMER MARKET: TOP-DOWN APPROACH
2.2.2.1 Approach to arrive at market size using top-down analysis (supply side)
FIGURE 6 KEY STEPS CONSIDERED TO ASSESS POWER TRANSFORMER SUPPLY
FIGURE 7 POWER TRANSFORMER MARKET: SUPPLY-SIDE ANALYSIS
2.2.2.1.1 Supply-side assumptions
2.2.2.1.2 Supply-side calculations
2.3 FORECAST
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 8 POWER TRANSFORMER MARKET: DATA TRIANGULATION
2.5 RESEARCH ASSUMPTIONS
2.6 RISK ASSESSMENT
TABLE 1 POWER TRANSFORMER MARKET: RISK ASSESSMENT
2.7 RECESSION IMPACT
2.8 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
TABLE 2 POWER TRANSFORMER MARKET SNAPSHOT
FIGURE 9 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF GLOBAL POWER TRANSFORMER MARKET IN 2023
FIGURE 10 UP TO 60 MVA SEGMENT TO HOLD LARGEST SHARE OF POWER TRANSFORMER MARKET, BY POWER RATING, IN 2024
FIGURE 11 THREE-PHASE SEGMENT TO DOMINATE POWER TRANSFORMER MARKET, BY PHASE, FROM 2024 TO 2029
FIGURE 12 OIL-COOLED SEGMENT TO HOLD LARGER SHARE OF POWER TRANSFORMER MARKET, BY COOLING TYPE, IN 2029
FIGURE 13 UTILITIES TO ACCOUNT FOR LARGEST SHARE OF POWER TRANSFORMER MARKET, BY END USER, IN 2029
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN POWER TRANSFORMER MARKET
FIGURE 14 BURGEONING POWER DEMAND DUE TO RAPID URBANIZATION TO FOSTER MARKET GROWTH
4.2 POWER TRANSFORMER MARKET, BY REGION
FIGURE 15 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN POWER TRANSFORMER MARKET DURING FORECAST PERIOD
4.3 POWER TRANSFORMER MARKET IN ASIA PACIFIC, BY PHASE AND COUNTRY
FIGURE 16 THREE-PHASE AND CHINA ACCOUNTED FOR LARGEST SHARES OF POWER TRANSFORMER MARKET IN ASIA PACIFIC IN 2023
4.4 POWER TRANSFORMER MARKET, BY POWER RATING
FIGURE 17 UP TO 60 MVA SEGMENT TO HOLD LARGEST SHARE OF POWER TRANSFORMER MARKET IN 2029
4.5 POWER TRANSFORMER MARKET, BY PHASE
FIGURE 18 THREE-PHASE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2029
4.6 POWER TRANSFORMER MARKET, BY COOLING TYPE
FIGURE 19 OIL-COOLED ACCOUNTED FOR LARGER MARKET SHARE THAN AIR-COOLED IN 2029
4.7 POWER TRANSFORMER MARKET, BY END USER
FIGURE 20 UTILITIES TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 21 POWER TRANSFORMER MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising focus on grid modernization to meet peak power demand
FIGURE 22 ELECTRICITY DEMAND, BY REGION, 2019–2025
5.2.1.2 Increasing emphasis on renewable energy capacity expansion
FIGURE 23 GLOBAL INVESTMENT IN CLEAN ENERGY AND FOSSIL FUELS, 2015–2023
5.2.2 RESTRAINTS
5.2.2.1 Limited budget for grid expansion projects in developing economies
FIGURE 24 ENERGY INVESTMENTS IN EMERGING MARKETS, BY SOURCE TYPE, 2019 AND 2022
5.2.2.2 Shortage of skilled professionals for installing advanced transformers
5.2.3 OPPORTUNITIES
5.2.3.1 Rise of decentralized power generation
5.2.3.2 Shift from traditional to smart grid infrastructure
FIGURE 25 GLOBAL INVESTMENTS IN POWER GRIDS, 2015–2022
5.2.4 CHALLENGES
5.2.4.1 Cybersecurity threats posed by grid digitalization
5.3 PORTER’S FIVE FORCES ANALYSIS
FIGURE 26 PORTER’S FIVE FORCES ANALYSIS
TABLE 3 PORTER’S FIVE FORCES ANALYSIS
5.3.1 THREAT OF SUBSTITUTES
5.3.2 BARGAINING POWER OF SUPPLIERS
5.3.3 BARGAINING POWER OF BUYERS
5.3.4 THREAT OF NEW ENTRANTS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 SUPPLY CHAIN ANALYSIS
FIGURE 27 SUPPLY CHAIN ANALYSIS
5.5 TECHNOLOGY ANALYSIS
5.5.1 KEY TECHNOLOGIES
5.5.1.1 High-temperature superconducting (HTS) transformers
5.5.2 COMPLEMENTARY TECHNOLOGIES
5.5.2.1 Artificial intelligence-based digital fault protection relays
5.6 KEY CONFERENCES AND EVENTS, 2024
TABLE 4 LIST OF KEY CONFERENCES AND EVENTS, 2024
5.7 ECOSYSTEM ANALYSIS
FIGURE 28 POWER TRANSFORMER ECOSYSTEM
TABLE 5 ROLE OF COMPANIES IN POWER TRANSFORMER ECOSYSTEM
5.8 PATENT ANALYSIS
FIGURE 29 PATENTS APPLIED AND GRANTED, 2014–2023
TABLE 6 LIST OF PATENTS, 2021–2024
5.9 CASE STUDY ANALYSIS
5.9.1 ABB IMPLEMENTS ONLINE OIL RECLAMATION SERVICE TO ADDRESS DETERIORATING OIL CONDITION OF TRANSFORMERS AT DEESIDE POWER STATION
5.9.2 SPECIALIZED EQUIPMENT AND ECO-FRIENDLY TECHNIQUES ADDRESS OIL LEAKS AND ENHANCE TRANSFORMER SAFETY AT CENTRAL CITY SUBSTATION
5.9.3 COMPREHENSIVE TESTING AND MAINTENANCE PROGRAMS HELP ADDRESS MINOR LEAKS AND OPERATIONAL HAZARDS OF AGING TRANSFORMERS AT BIG RIVER SUBSTATION
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO (HS CODE 850423 AND HS CODE 850434)
TABLE 7 IMPORT DATA FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, BY COUNTRY, 2021–2023 (USD)
FIGURE 30 IMPORT DATA FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, BY COUNTRY, 2021–2023 (USD)
TABLE 8 IMPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS OF >500 KVA (EXCL. LIQUID DIELECTRIC TRANSFORMERS), BY COUNTRY, 2021–2023 (USD)
FIGURE 31 IMPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS OF >500 KVA (EXCL. LIQUID DIELECTRIC TRANSFORMERS), BY COUNTRY, 2021–2023 (USD)
5.10.2 EXPORT SCENARIO (HS CODE 850423 AND HS CODE 850434)
TABLE 9 EXPORT DATA FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, BY COUNTRY, 2021–2023 (USD)
FIGURE 32 EXPORT DATA FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, BY COUNTRY, 2021–2023 (USD)
TABLE 10 EXPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS OF >500 KVA (EXCL. LIQUID DIELECTRIC TRANSFORMERS), BY COUNTRY, 2021–2023 (USD)
FIGURE 33 EXPORT DATA FOR HS CODE 850434-COMPLIANT TRANSFORMERS OF >500 KVA (EXCL. LIQUID DIELECTRIC TRANSFORMERS), BY COUNTRY, 2021–2023 (USD)
5.11 PRICING ANALYSIS
5.11.1 INDICATIVE PRICE TREND, BY POWER RATING
TABLE 11 INDICATIVE PRICE TREND, BY POWER RATING
5.11.2 AVERAGE SELLING PRICE TREND, BY REGION
FIGURE 34 AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023
TABLE 12 AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023 (USD THOUSAND/UNIT)
5.12 INVESTMENT AND FUNDING SCENARIO
FIGURE 35 INVESTMENT AND FUNDING SCENARIO
5.13 TARIFF AND REGULATORY LANDSCAPE
5.13.1 TARIFF ANALYSIS
TABLE 13 MFN TARIFF FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10.000 KVA, 2022
5.13.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 14 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 15 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 16 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
TABLE 17 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.13.3 CODES AND REGULATIONS
TABLE 18 CODES AND REGULATIONS
5.14 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
FIGURE 36 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.15 KEY STAKEHOLDERS AND BUYING CRITERIA
5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
FIGURE 37 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
TABLE 19 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END USERS
5.15.2 BUYING CRITERIA
FIGURE 38 KEY BUYING CRITERIA FOR TOP THREE END USERS
TABLE 20 KEY BUYING CRITERIA FOR TOP THREE END USERS
6 US POWER TRANSFORMER BUSINESS SCENARIO
6.1 CAUSES OF POWER TRANSFORMER SUPPLY SHORTAGE
6.2 INCREASING PRICE OF MATERIALS USED IN POWER TRANSFORMERS
6.3 CORE STEEL SOURCES
6.4 AMORPHOUS STEEL SOURCES
6.5 POLICIES RELATED TO POWER TRANSFORMERS
7 POWER TRANSFORMER MARKET, BY POWER RATING
7.1 INTRODUCTION
FIGURE 39 POWER TRANSFORMER MARKET SHARE, BY POWER RATING, 2023
TABLE 21 POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 22 POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
7.2 UP TO 60 MVA
7.2.1 REQUIREMENT FOR DECENTRALIZED ENERGY GENERATION FOR URBAN POPULATION TO FUEL SEGMENTAL GROWTH
TABLE 23 UP TO 60 MVA: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 24 UP TO 60 MVA: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
7.3 61–600 MVA
7.3.1 RAPID INDUSTRIALIZATION IN DEVELOPING COUNTRIES TO BOOST SEGMENTAL GROWTH
TABLE 25 61–600 MVA: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 26 61–600 MVA: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
7.4 ABOVE 600 MVA
7.4.1 MODERNIZATION AND EXPANSION OF POWER TRANSMISSION INFRASTRUCTURE TO AUGMENT SEGMENTAL GROWTH
TABLE 27 ABOVE 600 MVA: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 28 ABOVE 600 MVA: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
8 POWER TRANSFORMERS MARKET, BY COOLING TYPE
8.1 INTRODUCTION
FIGURE 40 OIL-COOLED SEGMENT HELD LARGER SHARE OF POWER TRANSFORMER MARKET IN 2023
TABLE 29 POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 30 POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
8.2 OIL-COOLED
8.2.1 EXCELLENT THERMAL PROPERTIES AND RELIABILITY TO FOSTER SEGMENTAL GROWTH
TABLE 31 OIL-COOLED: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 32 OIL-COOLED: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
8.3 AIR-COOLED
8.3.1 SIMPLICITY AND LOW-MAINTENANCE REQUIREMENTS TO CONTRIBUTE TO SEGMENTAL GROWTH
TABLE 33 AIR-COOLED: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 34 AIR-COOLED: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
9 POWER TRANSFORMER MARKET, BY PHASE
9.1 INTRODUCTION
FIGURE 41 POWER TRANSFORMER MARKET SHARE, BY PHASE, 2023
TABLE 35 POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 36 POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
9.2 SINGLE-PHASE
9.2.1 LOW MANUFACTURING COSTS AND EASY INSTALLATION TO CONTRIBUTE TO SEGMENTAL GROWTH
TABLE 37 SINGLE-PHASE: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 38 SINGLE-PHASE: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
9.3 THREE-PHASE
9.3.1 BALANCED POWER DISTRIBUTION AND HIGH EFFICIENCY TO ACCELERATE SEGMENTAL GROWTH
TABLE 39 THREE-PHASE: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 40 THREE-PHASE: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
10 POWER TRANSFORMER MARKET, BY END USER
10.1 INTRODUCTION
FIGURE 42 POWER TRANSFORMER MARKET SHARE, BY END USER, 2023
TABLE 41 POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 42 POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
10.2 UTILITIES
10.2.1 INCREASING GOVERNMENT INVESTMENT IN SMART GRID TECHNOLOGIES TO CONTRIBUTE TO SEGMENTAL GROWTH
TABLE 43 UTILITIES: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 44 UTILITIES: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
10.3 RESIDENTIAL & COMMERCIAL
10.3.1 GROWING DEMAND FOR DISTRIBUTION TRANSFORMERS TO ENSURE UNINTERRUPTED POWER SUPPLY TO FOSTER SEGMENTAL GROWTH
TABLE 45 RESIDENTIAL & COMMERCIAL: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 46 RESIDENTIAL & COMMERCIAL: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
10.4 INDUSTRIAL
TABLE 47 INDUSTRIAL: POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 48 INDUSTRIAL: POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 49 INDUSTRIAL: POWER TRANSFORMER MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)
TABLE 50 INDUSTRIAL: POWER TRANSFORMER MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)
10.4.1 OIL & GAS
10.4.1.1 Increasing need for high-efficiency transformers to facilitate pipeline operations to drive market
10.4.2 METALS & MINING
10.4.2.1 Growing demand for amorphous core transformers for mineral extraction, refining, and processing to foster segmental growth
10.4.3 AUTOMOTIVE
10.4.3.1 Rising development of electric vehicle charging infrastructure to boost segmental growth
10.4.4 FOOD & BEVERAGES
10.4.4.1 Increasing reliance on food refrigeration and freezing units to contribute to segmental growth
10.4.5 POWER GENERATION
10.4.5.1 Rising emphasis on grid modernization and sustainability to augment segmental growth
10.4.6 DATA CENTERS
10.4.6.1 Growing demand for UPS transformers to ensure uninterrupted operation of crucial equipment to fuel segmental growth
10.4.7 OTHER INDUSTRIES
11 POWER TRANSFORMER MARKET, BY REGION
11.1 INTRODUCTION
FIGURE 43 POWER TRANSFORMER MARKET SHARE, BY REGION, 2023
FIGURE 44 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN POWER TRANSFORMER MARKET FROM 2024 TO 2029
TABLE 51 POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (USD MILLION)
TABLE 52 POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (USD MILLION)
TABLE 53 POWER TRANSFORMER MARKET, BY REGION, 2020–2023 (UNITS)
TABLE 54 POWER TRANSFORMER MARKET, BY REGION, 2024–2029 (UNITS)
11.2 NORTH AMERICA
11.2.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN NORTH AMERICA
TABLE 55 NORTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 56 NORTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 57 NORTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 58 NORTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 59 NORTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 60 NORTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 61 NORTH AMERICA: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 62 NORTH AMERICA: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 63 NORTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 64 NORTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.2.2 US
11.2.2.1 Rising preference for renewable energy sources to contribute to market growth
TABLE 65 US: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 66 US: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.2.3 CANADA
11.2.3.1 Increasing government initiatives to support grid modernization and increase energy efficiency to drive market
TABLE 67 CANADA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 68 CANADA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.2.4 MEXICO
11.2.4.1 Growing population and industrialization to contribute to market growth
TABLE 69 MEXICO: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 70 MEXICO: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3 EUROPE
11.3.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN EUROPE
FIGURE 45 EUROPE: POWER TRANSFORMER MARKET SNAPSHOT
TABLE 71 EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 72 EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 73 EUROPE: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 74 EUROPE: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 75 EUROPE: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 76 EUROPE: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 77 EUROPE: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 78 EUROPE: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 79 EUROPE: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 80 EUROPE: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.3.2 GERMANY
11.3.2.1 Rising emphasis on transitioning to sustainable energy sources to maintain grid resilience to propel market
TABLE 81 GERMANY: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 82 GERMANY: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.3 UK
11.3.3.1 Increasing focus on achieving net-zero carbon footprint and modernizing grid to fuel market growth
TABLE 83 UK: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 84 UK: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.4 ITALY
11.3.4.1 Mounting government investment in power transmission and distribution networks to boost market growth
TABLE 85 ITALY: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 86 ITALY: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.5 FRANCE
11.3.5.1 Rising concerns about aging infrastructure to contribute to market growth
TABLE 87 FRANCE: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 88 FRANCE: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.6 SPAIN
11.3.6.1 Escalating private investment in smart grid infrastructure to foster market growth
TABLE 89 SPAIN: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 90 SPAIN: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.3.7 REST OF EUROPE
TABLE 91 REST OF EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 92 REST OF EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4 ASIA PACIFIC
11.4.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN ASIA PACIFIC
FIGURE 46 ASIA PACIFIC: POWER TRANSFORMER MARKET SNAPSHOT
TABLE 93 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 94 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 95 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 96 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 97 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 98 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 99 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 100 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 101 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 102 ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.4.2 CHINA
11.4.2.1 Rapid industrialization and infrastructural development to accelerate market growth
TABLE 103 CHINA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 104 CHINA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.3 INDIA
11.4.3.1 Requirement for electric vehicle charging infrastructure to drive market
TABLE 105 INDIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 106 INDIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.4 JAPAN
11.4.4.1 Heightened emphasis on integrating smart grids and renewable energy to fuel market growth
TABLE 107 JAPAN: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 108 JAPAN: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.5 SOUTH KOREA
11.4.5.1 Robust energy infrastructure and grid modernization efforts to foster market growth
TABLE 109 SOUTH KOREA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 110 SOUTH KOREA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.6 AUSTRALIA
11.4.6.1 Shift to renewable energy sources to contribute to market growth
TABLE 111 AUSTRALIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 112 AUSTRALIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.4.7 REST OF ASIA PACIFIC
TABLE 113 REST OF ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING 2020–2023 (USD MILLION)
TABLE 114 REST OF ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5 MIDDLE EAST & AFRICA
11.5.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN MIDDLE EAST & AFRICA
TABLE 115 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 116 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 117 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 118 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 119 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 120 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 121 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 122 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 123 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 124 MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
TABLE 125 GCC: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 126 GCC: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.5.2 GCC COUNTRIES
11.5.2.1 Saudi Arabia
11.5.2.1.1 Transition from petroleum to balanced mix of natural gas and renewable energy for power generation to drive market
TABLE 127 SAUDI ARABIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 128 SAUDI ARABIA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5.2.2 UAE
11.5.2.2.1 Implementation of initiatives to increase access to reliable and sustainable electricity to augment market growth
TABLE 129 UAE: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 130 UAE: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5.2.3 Rest of GCC countries
TABLE 131 REST OF GCC COUNTRIES: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 132 REST OF GCC COUNTRIES: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5.3 SOUTH AFRICA
11.5.3.1 Increasing investment in power infrastructure due to industrialization to fuel market growth
TABLE 133 SOUTH AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 134 SOUTH AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.5.4 REST OF MIDDLE EAST & AFRICA
TABLE 135 REST OF MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 136 REST OF MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.6 SOUTH AMERICA
11.6.1 RECESSION IMPACT ON POWER TRANSFORMER MARKET IN SOUTH AMERICA
TABLE 137 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 138 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
TABLE 139 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE, 2020–2023 (USD MILLION)
TABLE 140 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE, 2024–2029 (USD MILLION)
TABLE 141 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2023 (USD MILLION)
TABLE 142 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2024–2029 (USD MILLION)
TABLE 143 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY END USER, 2020–2023 (USD MILLION)
TABLE 144 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY END USER, 2024–2029 (USD MILLION)
TABLE 145 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
TABLE 146 SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
11.6.2 BRAZIL
11.6.2.1 Increasing electricity consumption due to economic development and urbanization to accelerate market growth
TABLE 147 BRAZIL: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 148 BRAZIL: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.6.3 ARGENTINA
11.6.3.1 Rising power generation from renewable sources to fuel market growth
TABLE 149 ARGENTINA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 150 ARGENTINA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
11.6.4 REST OF SOUTH AMERICA
TABLE 151 REST OF SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2023 (USD MILLION)
TABLE 152 REST OF SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2024–2029 (USD MILLION)
12 COMPETITIVE LANDSCAPE
12.1 INTRODUCTION
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024
TABLE 153 POWER TRANSFORMER MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2024
12.3 MARKET SHARE ANALYSIS, 2023
TABLE 154 POWER TRANSFORMER MARKET: DEGREE OF COMPETITION, 2023
FIGURE 47 POWER TRANSFORMER MARKET SHARE ANALYSIS, 2023
12.4 REVENUE ANALYSIS, 2018–2022
FIGURE 48 REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2018–2022
12.5 COMPANY VALUATION AND FINANCIAL METRICS
FIGURE 49 COMPANY VALUATION
FIGURE 50 FINANCIAL METRICS
12.6 BRAND/PRODUCT COMPARISON
FIGURE 51 BRAND/PRODUCT COMPARISON
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
12.7.1 STARS
12.7.2 EMERGING LEADERS
12.7.3 PERVASIVE PLAYERS
12.7.4 PARTICIPANTS
FIGURE 52 POWER TRANSFORMER MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
12.7.5.1 Company footprint
FIGURE 53 POWER TRANSFORMER MARKET: COMPANY FOOTPRINT
12.7.5.2 End user footprint
TABLE 155 POWER TRANSFORMER MARKET: END USER FOOTPRINT
12.7.5.3 Phase footprint
TABLE 156 POWER TRANSFORMER MARKET: PHASE FOOTPRINT
12.7.5.4 Power rating footprint
TABLE 157 POWER TRANSFORMER MARKET: POWER RATING FOOTPRINT
12.7.5.5 Cooling type footprint
TABLE 158 POWER TRANSFORMER MARKET: COOLING TYPE FOOTPRINT
12.7.5.6 Region footprint
TABLE 159 POWER TRANSFORMER MARKET: REGION FOOTPRINT
12.8 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
12.8.1 PROGRESSIVE COMPANIES
12.8.2 RESPONSIVE COMPANIES
12.8.3 DYNAMIC COMPANIES
12.8.4 STARTING BLOCKS
FIGURE 54 POWER TRANSFORMER MARKET: COMPANY EVALUATION MATRIX (START-UPS/SMES), 2023
12.8.5 COMPETITIVE BENCHMARKING: START-UPS/SMES, 2023
12.8.5.1 Detailed list of key start-ups/SMEs
TABLE 160 POWER TRANSFORMER MARKET: DETAILED LIST OF KEY START-UPS/SMES
12.8.5.2 Competitive benchmarking of key start-ups/SMEs
TABLE 161 POWER TRANSFORMER MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
12.9 COMPETITIVE SCENARIO AND TRENDS
12.9.1 PRODUCT LAUNCHES
TABLE 162 POWER TRANSFORMER MARKET: PRODUCT LAUNCHES, JANUARY 2020–FEBRUARY 2024
12.9.2 DEALS
TABLE 163 POWER TRANSFORMER MARKET: DEALS, JANUARY 2020–FEBRUARY 2024
12.9.3 EXPANSIONS
TABLE 164 POWER TRANSFORMER MARKET: EXPANSIONS, JANUARY 2020–FEBRUARY 2024
12.9.4 OTHERS
TABLE 165 POWER TRANSFORMER MARKET: OTHERS, JANUARY 2020–FEBRUARY 2024
13 COMPANY PROFILES
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1 SIEMENS ENERGY
TABLE 166 SIEMENS ENERGY: COMPANY OVERVIEW
FIGURE 55 SIEMENS ENERGY: COMPANY SNAPSHOT
TABLE 167 SIEMENS ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 168 SIEMENS ENERGY: DEALS
TABLE 169 SIEMENS ENERGY: EXPANSIONS
13.2 HITACHI ENERGY LTD.
TABLE 170 HITACHI ENERGY LTD.: COMPANY OVERVIEW
FIGURE 56 HITACHI ENERGY LTD.: COMPANY SNAPSHOT
TABLE 171 HITACHI ENERGY LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 172 HITACHI ENERGY LTD.: DEALS
TABLE 173 HITACHI ENERGY LTD.: EXPANSIONS
TABLE 174 HITACHI ENERGY LTD.: OTHERS
13.3 SCHNEIDER ELECTRIC
TABLE 175 SCHNEIDER ELECTRIC: COMPANY OVERVIEW
FIGURE 57 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
TABLE 176 SCHNEIDER ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 177 SCHNEIDER ELECTRIC: DEALS
13.4 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION
TABLE 178 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: COMPANY OVERVIEW
FIGURE 58 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: COMPANY SNAPSHOT
TABLE 179 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 180 TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: OTHERS
13.5 HD HYUNDAI ELECTRIC CO., LTD
TABLE 181 HD HYUNDAI ELECTRIC CO., LTD: COMPANY OVERVIEW
FIGURE 59 HD HYUNDAI ELECTRIC CO., LTD: COMPANY SNAPSHOT
TABLE 182 HD HYUNDAI ELECTRIC CO., LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 183 HD HYUNDAI ELECTRIC CO., LTD: OTHERS
13.6 GENERAL ELECTRIC COMPANY
TABLE 184 GENERAL ELECTRIC COMPANY: COMPANY OVERVIEW
FIGURE 60 GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT
TABLE 185 GENERAL ELECTRIC COMPANY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 186 GENERAL ELECTRIC COMPANY: DEALS
TABLE 187 GENERAL ELECTRIC COMPANY: OTHERS
13.7 CG POWER AND INDUSTRIAL SOLUTIONS LTD.
TABLE 188 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW
FIGURE 61 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY SNAPSHOT
TABLE 189 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 190 CG POWER AND INDUSTRIAL SOLUTIONS LTD.: EXPANSIONS
13.8 MITSUBISHI ELECTRIC CORPORATION
TABLE 191 MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW
FIGURE 62 MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT
13.8.2 PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 192 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 193 MITSUBISHI ELECTRIC CORPORATION: DEALS
TABLE 194 MITSUBISHI ELECTRIC CORPORATION: OTHERS
13.9 HYOSUNG HEAVY INDUSTRIES
TABLE 195 HYUSONG HEAVY INDUSTRIES: COMPANY OVERVIEW
FIGURE 63 HYOSUNG HEAVY INDUSTRIES: COMPANY SNAPSHOT
TABLE 196 HYOSUNG HEAVY INDUSTRIES: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.10 BHARAT HEAVY ELECTRICALS LIMITED
TABLE 197 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW
FIGURE 64 BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT
TABLE 198 BHARAT HEAVY ELECTRICALS LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 199 BHARAT HEAVY ELECTRICALS LIMITED: OTHERS
13.11 FUJI ELECTRIC CO., LTD.
TABLE 200 FUJI ELECTRIC CO LTD: COMPANY OVERVIEW
FIGURE 65 FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT
TABLE 201 FUJI ELECTRIC CO LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.12 SGB SMIT
TABLE 202 SBG SMIT: COMPANY OVERVIEW
TABLE 203 SBG SMIT: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 204 SGB SMIT: DEALS
TABLE 205 SGB SMIT: OTHERS
13.13 WEG
TABLE 206 WEG: COMPANY OVERVIEW
FIGURE 66 WEG: COMPANY SNAPSHOT
TABLE 207 WEG: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 208 WEG: DEALS
TABLE 209 WEG: EXPANSIONS
13.14 TRANSFORMER AND RECTIFIER INDIA LTD
TABLE 210 TRANSFORMER AND RECTIFIER INDIA LTD: COMPANY OVERVIEW
FIGURE 67 TRANSFORMER AND RECTIFIER INDIA LTD: COMPANY SNAPSHOT
TABLE 211 TRANSFORMER AND RECTIFIER INDIA LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.15 NIAGARA POWER TRANSFORMER CORP.
TABLE 212 NIAGARA POWER TRANSFORMER CORP.: COMPANY OVERVIEW
TABLE 213 NIAGARA POWER TRANSFORMER CORP.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.16 LS ELECTRIC CO., LTD.
TABLE 214 LS ELECTRIC CO., LTD.: COMPANY OVERVIEW
FIGURE 68 LS ELECTRIC CO., LTD.: COMPANY SNAPSHOT
TABLE 215 LS ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 216 LS ELECTRIC CO., LTD.: DEALS
TABLE 217 LS ELECTRIC CO., LTD.: OTHERS
13.17 HAMMOND POWER SOLUTIONS
TABLE 218 HAMMOND POWER SOLUTIONS: COMPANY OVERVIEW
FIGURE 69 HAMMOND POWER SOLUTIONS: COMPANY SNAPSHOT
TABLE 219 HAMMOND POWER SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.18 EFACEC
TABLE 220 EFACEC: COMPANY OVERVIEW
FIGURE 70 EFACEC: COMPANY SNAPSHOT
TABLE 221 EFACEC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 222 EFACEC: OTHERS
13.19 NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD.
TABLE 223 NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD: COMPANY OVERVIEW
TABLE 224 NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 225 NINGBO IRONCUBE WORKS INTERNATIONAL CO., LTD: PRODUCT LAUNCHES
13.20 MGM TRANSFORMER COMPANY
TABLE 226 MGM TRANSFORMER COMPANY: COMPANY OVERVIEW
TABLE 227 MGM TRANSFORMER COMPANY: PRODUCTS/SERVICES/SOLUTIONS OFFERED
13.21 WILSON POWER SOLUTIONS
TABLE 228 WILSON POWER SOLUTIONS: COMPANY OVERVIEW
TABLE 229 WILSON POWER SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
TABLE 230 WILSON POWER SOLUTIONS: OTHERS
13.22 OTHER PLAYERS
13.22.1 A B C TRANSFORMERS (P) LTD
13.22.2 VIJAY POWER
13.22.3 JSHP TRANSFORMER
13.22.4 CHINT GROUP
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14 APPENDIX
14.1 INSIGHTS FROM INDUSTRY EXPERTS
14.2 DISCUSSION GUIDE
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.4 CUSTOMIZATION OPTIONS
14.5 RELATED REPORTS
14.6 AUTHOR DETAILS
