Global Transformer
Market Report
2024
Global Transformer market size was $59.96 Billion in 2022 and it is forecasted to reach $93.96 Billion by 2030. Transformer Industry's Compound Annual Growth Rate will be 5.8% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Global Transformer market size was $59.96 Billion in 2022 and it is forecasted to reach $93.96 Billion by 2030. Transformer Industry's Compound Annual Growth Rate will be 5.8% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Transformer Market Sales Revenue 2022 | $ 59.96 Billion |
Global Transformer Market Sales Revenue 2030 | $ 93.96 Billion |
Global Transformer Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 5.8% |
Market Split by Type |
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Market Split by Application |
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Market Split by Power Rating |
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Market Split by Cooling Type |
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Market Split by Insulation |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Transformer Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Transformer is a type of device, which is used to electrical energy covert from one alternating current to another circuit using the electromagnetic induction principle. These are voltage control devices used in the distribution and transmission of alternating current electricity. The transformer is termed the most vital and critical part of the power distribution ecosystem transformers are exclusively capable of maintaining the constant minimizing the fluctuations and power distribution frequency across the circuit.
Increasing demand for transformers for the power supply and rising incorporation of sustainable resources deliver power is the major factor expected to drive the growth of the market. In addition, increasing modernization, urbanization, and the introduction of new technologies are likely to drive the growth of the global transformers market.
The transformer’s requirement has increased due to reducing the cost of infinite energy sources for power generation is projected to create growth opportunities for the transformers market in the coming years.
Risk related to high DC voltages and raw material price fluctuations is the key factor anticipated to hamper the growth of the global market.
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In June 2021: Mitsubishi Electric and Siemens Energy signed to venture into the collaboration to develop high-voltage and clean power transmission. These companies have signed a Memorandum of Understanding (MoU) to develop modern high-voltage switching solutions using Siemens Energy’s Blue Portfolio solutions.
Top Companies Market Share in Transformer Industry: (In no particular order of Rank)
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Asia-Pacific has the largest revenue share in the transformers market. This is due to increasing urbanization and industrialization in the region and the growing demand for electricity from the utility and renewable energy solutions adoption is anticipated to drive the global market in the region.
The current report Scope analyzes Transformer Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Transformer Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Transformer Industry growth. Transformer market has been segmented with the help of its Type, Application Power Rating, and others. Transformer market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on type, the distribution transformer segment dominated the transformers market. This is due to the increasing demand for power in urban and rural areas. Furthermore, distribution transformers are very helpful to distribute power from small transformers to large transformers with a loss minimum amount of power is likely to boost the growth of the target market.
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Based on application, the utility segment has dominated the transformers market. This is owing to the increasing use of several power rating transformers for various purposes in the utility sector and this sector middleman of power consumers and producers in the different sectors. This is probable to fuel the growth of this segment in the target market.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Based on the power rating, the small segment dominated the transformers market. This is owing to the increasing various installations of renewable energy in the residential sector and small transformers are vastly effective in the distribution of power.
Based on cooling type, air-cooled is the leading segment in the transformers market. This is attributed to air-cooled transformers performing well in power services and improving energy security. Air-cooled transformers cooling down easily and quickly is vital for an extensive transformer life this factor affects the growth of the global market.
Based on insulation, the dry segment has dominated the transformers market. This is due to dry transforms being eco-friendly and the safest transformers and installation of dry transforms are easy and installed in outdoor and indoor locations driving the global market in this segment.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Transformer Market is witnessing significant growth in the near future.
In 2023, the Power Transformer segment accounted for noticeable share of global Transformer Market and is projected to experience significant growth in the near future.
The Commercial and Residential segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Mitsubishi Electric Corporation, Toshiba Corporation and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Power Transformer, Distribution Transformer, Others |
Application | Commercial and Residential, Utility, Industrial |
Power Rating | Large, Small, Medium |
Cooling Type | Oil Cooled, Air Cooled |
Insulation | Liquid Immersed, Dry |
List of Competitors | Mitsubishi Electric Corporation, Daihen Corporation, Toshiba Corporation, Schneider Electric, General Electric, Eaton Corporation, ABB Ltd., Elsewedy Electric, CG Power and Industrial Solutions, Kirloskar Electric, Raychem RPG, IMEFY Group, Siemens AG, Hyosung Power & Industrial Systems, TRENCH Group, KOTSONS Pvt. Ltd., Banmore Electricals Pvt Ltd. |
This chapter will help you gain GLOBAL Market Analysis of Transformer. Further deep in this chapter, you will be able to review Global Transformer Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Power Rating Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by Cooling Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 14 Market Split by Insulation Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Transformer market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Power Transformer have a significant impact on Transformer market? |
What are the key factors affecting the Power Transformer and Distribution Transformer of Transformer Market? |
What is the CAGR/Growth Rate of Commercial and Residential during the forecast period? |
By type, which segment accounted for largest share of the global Transformer Market? |
Which region is expected to dominate the global Transformer Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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