Press release
Power Transformer Market Projected to Surpass US$ 52.74 Billion by 2034, Witnessing 6.6% CAGR Growth
𝐓𝐡𝐞 𝐩𝐨𝐰𝐞𝐫 𝐭𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐞𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 27.95 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 2024. 𝐈𝐭 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐠𝐫𝐨𝐰 𝐭𝐨 𝐔𝐒𝐃 52.74 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 2034, 𝐞𝐱𝐡𝐢𝐛𝐢𝐭𝐢𝐧𝐠 𝐚 𝐜𝐨𝐦𝐩𝐨𝐮𝐧𝐝 𝐚𝐧𝐧𝐮𝐚𝐥 𝐠𝐫𝐨𝐰𝐭𝐡 𝐫𝐚𝐭𝐞 (𝐂𝐀𝐆𝐑) 𝐨𝐟 6.6% 𝐟𝐫𝐨𝐦 2025 𝐭𝐨 2034.
𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧:
The power transformer is a specific type of transformer mainly utilized to acquire electricity from low-voltage generators and distribute it through power grid networks. It plays an essential role in the power system, facilitating the transfer of power between different networks while maintaining a consistent frequency. Generating electricity at low voltage is affordable. However, it results in increased line current. Increased flow of electricity causes greater energy loss in transmission lines.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/power-transformer-market/request-for-sample
𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:
• The increase in population, urbanization, and industrialization in developing countries is significantly raising the need for electricity, which is driving the growth of the market in the projected timeframe.
• Governments globally are investing in upgrading outdated power grids to advanced smart grids to improve grid reliability, decrease transmission losses, and aid in the integration of renewable energy sources. Anticipated technological change is forecasted to stimulate substantial expansion in the power transformer industry.
𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
Because there are so many companies in the market, it is expected to be both competitive and fragmented. Here is the list of the leading companies operating in the power transformer market:
• Hitachi Energy
• General Electric
• Siemens
• Schneider Electric
• Mitsubishi Electric
• Eaton Corporation
• Hyundai Electric
• Fuji Electric
• Toshiba corporation
• MGM Transformer Company
• CG Power and Industrial Solutions
• Ningbo Ironcube Works International Co., Ltd.
• Chint Group
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/power-transformer-market/request-for-discount-pricing
𝐏𝐨𝐰𝐞𝐫 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:
• Small Power Transformer (up to 60MVA) segment dominated the market in 2023, due to the expansion of distributed generation systems and growing renewable energy sources.
• Three Phase segment dominated the market in 2024, owing to its rising use in power transmission and handling larger power loads.
• Utilities segment led the market with the largest revenue share in 2024, due to its crucial role in the generation, and transmission.
• Asia Pacific held the dominant position in 2024, owing to rapid urbanization, and industrialization.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The power transformer market is mainly segmented based on power rating, phase, cooling type, end user, and region. Based on the power rating analysis, in 2024, the small power transformer (up to 60MVA) segment led the global market. The growth of distributed generation systems and renewable energy sources is mainly responsible for the increasing demand for continuous electricity supply, which is driving the growth of this segment.
Moreover, according to the phase analysis, in 2024, the three-phase segment held the fastest revenue share in the market because of the growing use of three-phase transformers in power transmission and expanding distribution networks. Their excellent dependability in handling substantial power loads and effective operation make them a favored selection, additionally driving the segment's growth.
• By Power Rating Outlook
o Small Power Transformer (up to 60MVA)
o Medium Power Transformer (61-600MVA)
o Large Power Transformer (Above 600MVA)
• By Phase Outlook
o Single
o Three
• By Cooling Type Outlook
o Oil-cooled
o Air-Cooled
• By End User Outlook
o Utilities
o Residential & Commercial
o Industrial
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/power-transformer-market
𝐆𝐞𝐨𝐠𝐫𝐚𝐩𝐡𝐢𝐜𝐚𝐥 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Hydrogen Storage Tanks and Transportation Market:
https://www.polarismarketresearch.com/industry-analysis/hydrogen-storage-tanks-and-transportation-market
Europe Pipeline Pigging Market:
https://www.polarismarketresearch.com/industry-analysis/europe-pipeline-pigging-market
North America Pipeline Pigging Services Market:
https://www.polarismarketresearch.com/industry-analysis/north-america-pipeline-pigging-services-market
APAC Pipeline Pigging Market:
https://www.polarismarketresearch.com/industry-analysis/apac-pipeline-pigging-market
𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
𝐋𝐢𝐤𝐡𝐢𝐥 𝐆
8 The Green Ste 19824,
Dover, DE 19901,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
𝐀𝐛𝐨𝐮𝐭 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 & 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐢𝐧𝐠, 𝐈𝐧𝐜:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧:
The power transformer is a specific type of transformer mainly utilized to acquire electricity from low-voltage generators and distribute it through power grid networks. It plays an essential role in the power system, facilitating the transfer of power between different networks while maintaining a consistent frequency. Generating electricity at low voltage is affordable. However, it results in increased line current. Increased flow of electricity causes greater energy loss in transmission lines.
𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.polarismarketresearch.com/industry-analysis/power-transformer-market/request-for-sample
𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬:
• The increase in population, urbanization, and industrialization in developing countries is significantly raising the need for electricity, which is driving the growth of the market in the projected timeframe.
• Governments globally are investing in upgrading outdated power grids to advanced smart grids to improve grid reliability, decrease transmission losses, and aid in the integration of renewable energy sources. Anticipated technological change is forecasted to stimulate substantial expansion in the power transformer industry.
𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
Because there are so many companies in the market, it is expected to be both competitive and fragmented. Here is the list of the leading companies operating in the power transformer market:
• Hitachi Energy
• General Electric
• Siemens
• Schneider Electric
• Mitsubishi Electric
• Eaton Corporation
• Hyundai Electric
• Fuji Electric
• Toshiba corporation
• MGM Transformer Company
• CG Power and Industrial Solutions
• Ningbo Ironcube Works International Co., Ltd.
• Chint Group
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐁𝐞𝐟𝐨𝐫𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞:
https://www.polarismarketresearch.com/industry-analysis/power-transformer-market/request-for-discount-pricing
𝐏𝐨𝐰𝐞𝐫 𝐓𝐫𝐚𝐧𝐬𝐟𝐨𝐫𝐦𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:
• Small Power Transformer (up to 60MVA) segment dominated the market in 2023, due to the expansion of distributed generation systems and growing renewable energy sources.
• Three Phase segment dominated the market in 2024, owing to its rising use in power transmission and handling larger power loads.
• Utilities segment led the market with the largest revenue share in 2024, due to its crucial role in the generation, and transmission.
• Asia Pacific held the dominant position in 2024, owing to rapid urbanization, and industrialization.
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:
The power transformer market is mainly segmented based on power rating, phase, cooling type, end user, and region. Based on the power rating analysis, in 2024, the small power transformer (up to 60MVA) segment led the global market. The growth of distributed generation systems and renewable energy sources is mainly responsible for the increasing demand for continuous electricity supply, which is driving the growth of this segment.
Moreover, according to the phase analysis, in 2024, the three-phase segment held the fastest revenue share in the market because of the growing use of three-phase transformers in power transmission and expanding distribution networks. Their excellent dependability in handling substantial power loads and effective operation make them a favored selection, additionally driving the segment's growth.
• By Power Rating Outlook
o Small Power Transformer (up to 60MVA)
o Medium Power Transformer (61-600MVA)
o Large Power Transformer (Above 600MVA)
• By Phase Outlook
o Single
o Three
• By Cooling Type Outlook
o Oil-cooled
o Air-Cooled
• By End User Outlook
o Utilities
o Residential & Commercial
o Industrial
𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐓𝐡𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞:
https://www.polarismarketresearch.com/industry-analysis/power-transformer-market
𝐆𝐞𝐨𝐠𝐫𝐚𝐩𝐡𝐢𝐜𝐚𝐥 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
Hydrogen Storage Tanks and Transportation Market:
https://www.polarismarketresearch.com/industry-analysis/hydrogen-storage-tanks-and-transportation-market
Europe Pipeline Pigging Market:
https://www.polarismarketresearch.com/industry-analysis/europe-pipeline-pigging-market
North America Pipeline Pigging Services Market:
https://www.polarismarketresearch.com/industry-analysis/north-america-pipeline-pigging-services-market
APAC Pipeline Pigging Market:
https://www.polarismarketresearch.com/industry-analysis/apac-pipeline-pigging-market
𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
𝐋𝐢𝐤𝐡𝐢𝐥 𝐆
8 The Green Ste 19824,
Dover, DE 19901,
United States
Phone: +1-929 297-9727
Email: sales@polarismarketresearch.com
Web: https://www.polarismarketresearch.com
Follow Us: LinkedIn | Twitter
𝐀𝐛𝐨𝐮𝐭 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 & 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐢𝐧𝐠, 𝐈𝐧𝐜:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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