Two Winding Air Insulated Transformer Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
The Global Two Winding Air Insulated Transformer Market was valued at USD 2.7 billion in 2024 and is projected to grow at a CAGR of 4.9% between 2025 and 2034. This growth is driven by continuous technological advancements that enhance efficiency, reliability, and performance. Innovations in insulation materials, cooling systems, and transformer design techniques have significantly improved energy efficiency while minimizing losses. As countries increasingly transition to renewable energy sources such as solar and wind, the demand for two-winding air-insulated transformers is on the rise, particularly for integrating these energy sources into modern power grids. Additionally, increasing investments in grid modernization and smart grid technologies are fostering the adoption of these transformers. Governments worldwide are focusing on upgrading power infrastructures to enhance energy efficiency and reduce transmission losses, further driving market growth. The growing emphasis on decarbonization, coupled with the increasing adoption of electric vehicles (EVs), is creating additional opportunities for these transformers, as they play a critical role in supporting advanced energy distribution systems.
The market is witnessing a surge in demand due to the continuous upgrades in power grids and the automation of energy distribution systems. With the growing need for reliable energy transmission, especially in high-voltage applications, two-winding air-insulated transformers are becoming increasingly essential. Their compact design is advantageous for applications where space constraints are a concern and where minimizing energy loss is critical. The transition to renewable energy sources is further accelerating the adoption of these transformers in modern grid infrastructures, enabling seamless energy flow and minimizing system inefficiencies.
Segmented by application, the market includes residential, commercial, industrial, and utility sectors. In 2024, the utility sector accounted for 39% of the market share, driven by rising industrialization and the need to modernize aging power grids. The increasing energy demands from urbanization and the expansion of transmission networks are pushing the need for backup systems, particularly in substations and offshore power networks. Industrial applications are also contributing significantly to market growth as the demand for reliable power solutions grows across manufacturing and heavy industries.
In the United States, the two-winding air-insulated transformer market generated USD 292.7 million in 2024. The rising adoption of electric vehicles (EVs) and the accelerating integration of renewable energy technologies are expected to boost demand for these transformers, especially within power grids and EV infrastructure across the country. As energy demands continue to rise, particularly in support of green energy initiatives and EV infrastructure expansion, the U.S. market for two-winding air-insulated transformers is poised for continued growth. The increasing focus on sustainable energy practices and the need for efficient energy transmission systems will further strengthen the demand for these transformers in the U.S. over the forecast period.
The market is witnessing a surge in demand due to the continuous upgrades in power grids and the automation of energy distribution systems. With the growing need for reliable energy transmission, especially in high-voltage applications, two-winding air-insulated transformers are becoming increasingly essential. Their compact design is advantageous for applications where space constraints are a concern and where minimizing energy loss is critical. The transition to renewable energy sources is further accelerating the adoption of these transformers in modern grid infrastructures, enabling seamless energy flow and minimizing system inefficiencies.
Segmented by application, the market includes residential, commercial, industrial, and utility sectors. In 2024, the utility sector accounted for 39% of the market share, driven by rising industrialization and the need to modernize aging power grids. The increasing energy demands from urbanization and the expansion of transmission networks are pushing the need for backup systems, particularly in substations and offshore power networks. Industrial applications are also contributing significantly to market growth as the demand for reliable power solutions grows across manufacturing and heavy industries.
In the United States, the two-winding air-insulated transformer market generated USD 292.7 million in 2024. The rising adoption of electric vehicles (EVs) and the accelerating integration of renewable energy technologies are expected to boost demand for these transformers, especially within power grids and EV infrastructure across the country. As energy demands continue to rise, particularly in support of green energy initiatives and EV infrastructure expansion, the U.S. market for two-winding air-insulated transformers is poised for continued growth. The increasing focus on sustainable energy practices and the need for efficient energy transmission systems will further strengthen the demand for these transformers in the U.S. over the forecast period.
CHAPTER 1 METHODOLOGY & SCOPE
1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry synopsis, 2021 – 2034
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 Porter's analysis
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of new entrants
3.5.4 Threat of substitutes
3.6 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2024
4.1 Introduction
4.2 Strategic dashboard
4.3 Innovation & sustainability landscape
CHAPTER 5 MARKET SIZE AND FORECAST, BY RATING, 2021 - 2034 (USD MILLION, UNITS)
5.1 Key trends
5.2 ? 10 MVA
5.3 > 10 MVA to ? 100 MVA
5.4 > 100 MVA to ? 600 MVA
5.5 > 600 MVA
CHAPTER 6 MARKET SIZE AND FORECAST, BY APPLICATION, 2021 - 2034 (USD MILLION, UNITS)
6.1 Key trends
6.2 Residential
6.3 Commercial & industrial
6.4 Utility
CHAPTER 7 MARKET SIZE AND FORECAST, BY REGION, 2021 - 2034 (USD MILLION, UNITS)
7.1 Key trends
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 UK
7.3.2 France
7.3.3 Germany
7.3.4 Italy
7.3.5 Russia
7.3.6 Spain
7.4 Asia Pacific
7.4.1 China
7.4.2 Australia
7.4.3 India
7.4.4 Japan
7.4.5 South Korea
7.5 Middle East & Africa
7.5.1 Saudi Arabia
7.5.2 UAE
7.5.3 South Africa
7.6 Latin America
7.6.1 Brazil
7.6.2 Argentina
CHAPTER 8 COMPANY PROFILES
8.1 ARTECHE
8.2 Celme
8.3 CG Power & Industrial Solutions
8.4 DAIHEN Corporation
8.5 Eaton
8.6 Elsewedy Electric
8.7 General Electric
8.8 Hitachi Energy
8.9 Hyosung Heavy Industries
8.10 IMEFY GROUP
8.11 Kirloskar Electric Company
8.12 Mitsubishi Electric Corporation
8.13 Ormazabal
8.14 Pfiffner Group
8.15 Schneider Electric
8.16 Siemens Energy
8.17 Toshiba International Corporation
8.18 Trench Group
1.1 Market definitions
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
CHAPTER 2 EXECUTIVE SUMMARY
2.1 Industry synopsis, 2021 – 2034
CHAPTER 3 INDUSTRY INSIGHTS
3.1 Industry ecosystem
3.2 Regulatory landscape
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.5 Porter's analysis
3.5.1 Bargaining power of suppliers
3.5.2 Bargaining power of buyers
3.5.3 Threat of new entrants
3.5.4 Threat of substitutes
3.6 PESTEL analysis
CHAPTER 4 COMPETITIVE LANDSCAPE, 2024
4.1 Introduction
4.2 Strategic dashboard
4.3 Innovation & sustainability landscape
CHAPTER 5 MARKET SIZE AND FORECAST, BY RATING, 2021 - 2034 (USD MILLION, UNITS)
5.1 Key trends
5.2 ? 10 MVA
5.3 > 10 MVA to ? 100 MVA
5.4 > 100 MVA to ? 600 MVA
5.5 > 600 MVA
CHAPTER 6 MARKET SIZE AND FORECAST, BY APPLICATION, 2021 - 2034 (USD MILLION, UNITS)
6.1 Key trends
6.2 Residential
6.3 Commercial & industrial
6.4 Utility
CHAPTER 7 MARKET SIZE AND FORECAST, BY REGION, 2021 - 2034 (USD MILLION, UNITS)
7.1 Key trends
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 UK
7.3.2 France
7.3.3 Germany
7.3.4 Italy
7.3.5 Russia
7.3.6 Spain
7.4 Asia Pacific
7.4.1 China
7.4.2 Australia
7.4.3 India
7.4.4 Japan
7.4.5 South Korea
7.5 Middle East & Africa
7.5.1 Saudi Arabia
7.5.2 UAE
7.5.3 South Africa
7.6 Latin America
7.6.1 Brazil
7.6.2 Argentina
CHAPTER 8 COMPANY PROFILES
8.1 ARTECHE
8.2 Celme
8.3 CG Power & Industrial Solutions
8.4 DAIHEN Corporation
8.5 Eaton
8.6 Elsewedy Electric
8.7 General Electric
8.8 Hitachi Energy
8.9 Hyosung Heavy Industries
8.10 IMEFY GROUP
8.11 Kirloskar Electric Company
8.12 Mitsubishi Electric Corporation
8.13 Ormazabal
8.14 Pfiffner Group
8.15 Schneider Electric
8.16 Siemens Energy
8.17 Toshiba International Corporation
8.18 Trench Group
