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Transformer Global Market Report 2022 – By Transformer Type (Power Transformer, Distribution Transformer), By Type (Low Rated Transformer, High Rated Transformer), By End User (Utility, Residential & Commercial, Industry) – Market Size, Trends, And Global Forecast 2022-2026

Starting Price : $4000.00 | Pages : 175 | Published : October 2022 | SKU CODE : | Delivery Time: 2-3 business days | Format :


The transformers market consists of sales of transformers and related services which are used in the manufacturing of power, distribution, and specialty transformers. A transformer transfers energy from one circuit to another. Transformers increase or decrease voltage and current level, increase or decrease capacitor value, prevent direct current from passing between two circuits, and isolate circuits.

The main types of transformers are power transformers and distribution transformers. The power transformer is a type of transformer that is used to transfer electrical energy between the generator and the distribution primary circuits. In distribution systems, these transformers are used to connect step-up and step-down voltages. It is available as low rated transformer and a high-rated transformer that is used by utility, residential and commercial, industrial end users.

The transformers market research report is one of a series of new reports from The Business Research Company that provides transformers market statistics, including transformers industry global market size, regional shares, competitors with a transformers market share, detailed transformers market segments, market trends, and opportunities, and any further data you may need to thrive in the transformers industry. This transformers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global transformer market grew from $75.89 billion in 2021 to $89.06 billion in 2022 at a compound annual growth rate (CAGR) of 17.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The transformers market is expected to grow to $159.88 billion in 2026 at a CAGR of 15.8%.

Favorable government policies to increase electrification will contribute to the growth of the transformers market in the forecast period. Countries around the world are implementing several initiatives to increase electrification across countries. For example, in 2019, the Indian government launched the ‘One Nation One Grid’, an initiative aimed at offering affordable power to all the states. These initiatives will increase the market for medium power transformers in the forecast period. The increasing demand for medium, low and high-power transformers supported by favorable government initiatives will positively impact the growth of the transformers market.

Instability in the pricing of raw materials is a major restraint in the transformers manufacturing market. The instability is due to the volatility in the raw material prices of steel, copper, and crude oil. Steel and copper are predominantly used in the manufacture of transformers. Increased tariffs on raw materials such as steel and copper, increased the volatility of prices, thereby limiting the growth of the market for medium power transformers. For instance, in February 2020, the USA administration decided to raise tariffs on derivative steel and aluminum imports by 25% and 10%, respectively.   The increase in prices leads to an increase in operating expenses thereby hampering the growth of the market.

The Transformers market is moving towards the evolution of independent and self-regulating smart transformers. Smart transformers are programmed to constantly regulate voltage and maintain contact with the stakeholders and provide information and feedback on the power supply. They provide the exact amount of power that is needed and respond to fluctuations through a process known as voltage optimization. They significantly reduce greenhouse gas emissions and power consumption as they supply electrical equipment with the ideal amount of power. For instance, in 2021, Hitachi ABB Power Grids collaborated with Nanyang Technological University, Singapore (NTU Singapore) on a government-led smart grid development project. The two organizations will collaborate to advance developments in Solid State Transformer (SST) technology, led by the Energy Research Institute and supported by the National Research Foundation of Singapore. The project is part of Singapore's Energy Grid 2.0 initiative, which aims to shape the next-generation grid system and transform energy management by combining multiple energy sources into a single intelligent network that is more efficient, sustainable, and resilient.  

In June 2019, Hitachi, Ltd., a Japan-based energy solution provider company acquired 80.1% of ABB’s power grid business for $11 billion. The acquisition was aimed to broaden the product portfolio of Hitachi, by combining ABB’s power grids and offering enhanced energy solutions globally. ABB is a Switzerland-based company that specializes in manufacturing power grids products such as power transformers.

Major players in the transformers market are ABB, General Electric Corporation,  Schneider Electric S.A., Mitsubishi Electric Corporation, Schneider Electric, Mitsubishi Electricis,  Toshiba Corporation, Siemens, SGB-SMIT, and Hammond Power Solutions.

Asia Pacific was the largest region in the transformers market in 2021. Western Europe was the second-largest region in the transformers market. The regions covered in the transformers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the transformers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The global transformer market is segmented -

1) By Transformer Type: Power Transformer, Distribution Transformer

2) By Type: Low Rated Transformer, High Rated Transformer  

3) By End User: Utility, Residential & Commercial, Industry.

    Table Of Contents

    1. Executive Summary

    2. Transformers Market Characteristics

    3. Transformers Market Trends And Strategies

    4. Transformers Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Transformers Market

    4.2 Ukraine-Russia War Impact On Transformers Market

    4.3 Impact Of High Inflation On Transformers Market

    5. Transformers Market Size And Growth

    5.1. Global Transformers Historic Market, 2016-2021, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Transformers Forecast Market, 2021-2026F, 2031F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Transformers Market Segmentation

    6.1. Global Transformers Market, Segmentation By Transformer Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Power Transformer

    Distribution Transformer

    6.2. Global Transformers Market, Segmentation   By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

     Low rated transformer 

    High rated transformer  

    6.3. Global Transformers Market, Segmentation  By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    Utility

    Residential & Commercial

    Industry.

    7. Transformers Market Regional And Country Analysis

    7.1. Global Transformers Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    7.2. Global Transformers Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    8. Asia-Pacific Transformers Market  

    8.1. Asia-Pacific Transformers Market Overview  

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    9. China Transformers Market  

    9.1. China Transformers Market Overview  

    9.2. China Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion

    10. India Transformers Market  

    10.1. India Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    11. Japan Transformers Market  

    11.1. Japan Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    12. Australia Transformers Market  

    12.1. Australia Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    13. Indonesia Transformers Market  

    13.1. Indonesia Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    14. South Korea Transformers Market  

    14.1. South Korea Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    15. Western Europe Transformers Market  

    15.1. Western Europe Transformers Market Overview

    15.2. Western Europe Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    16. UK Transformers Market  

    16.1. UK Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    17. Germany Transformers Market  

    17.1. Germany Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    18. France Transformers Market  

    18.3. France Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    19. Eastern Europe Transformers Market  

    19.1. Eastern Europe Transformers Market Overview

    19.2. Eastern Europe Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    20. Russia Transformers Market  

    20.1. Russia Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    21. North America Transformers Market  

    21.1. North America Transformers Market Overview

    21.2. North America Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    22. USA Transformers Market  

    22.1. USA Transformers Market Overview

    22.2. USA Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    23. South America Transformers Market  

    23.1. South America Transformers Market Overview

    23.2. South America Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    24. Brazil Transformers Market  

    24.1. Brazil Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    25. Middle East Transformers Market  

    25.1. Middle East Transformers Market Overview

    25.2. Middle East Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    26. Africa Transformers Market  

    26.1. Africa Transformers Market Overview

    26.2. Africa Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

    27. Transformers Market Competitive Landscape And Company Profiles

    27.1. Transformers Market Competitive Landscape

    27.2. Transformers Market Company Profiles

    27.2.1. ABB

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. General Electric Corporation

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3.  Schneider Electric S.A.

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. Mitsubishi Electric Corporation

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Schneider Electric

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    29. Key Mergers And Acquisitions In The Transformers Market

    29. Transformers Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Table 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Table 3: Global Transformers Market, Segmentation By Transformer Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 4: Global Transformers Market, Segmentation   By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 5: Global Transformers Market, Segmentation  By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 6: Global Transformers Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 7: Global Transformers Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 8: Asia-Pacific, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 9: China, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 10: India, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 11: Japan, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 12: Australia, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 13: Indonesia, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 14: South Korea, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 15: Western Europe, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 16: UK, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 17: Germany, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 18: France, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 19: Eastern Europe, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 20: Russia, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 21: North America, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 22: USA, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 23: South America, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 24: Brazil, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 25: Middle East, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 26: Africa, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Table 27: ABB Financial Performance
  • Table 28: General Electric Corporation Financial Performance
  • Table 29:  Schneider Electric S.A. Financial Performance
  • Table 30: Mitsubishi Electric Corporation Financial Performance
  • Table 31: Schneider Electric Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2016-2021, $ Billion
  • Figure 2: Global Forecast Market Growth, 2021-2026F, 2031F, $ Billion
  • Figure 3: Global Transformers Market, Segmentation By Transformer Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 4: Global Transformers Market, Segmentation   By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 5: Global Transformers Market, Segmentation  By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 6: Global Transformers Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 7: Global Transformers Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 8: Asia-Pacific, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 9: China, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 10: India, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 11: Japan, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 12: Australia, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 13: Indonesia, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 14: South Korea, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 15: Western Europe, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 16: UK, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 17: Germany, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 18: France, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 19: Eastern Europe, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 20: Russia, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 21: North America, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 22: USA, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 23: South America, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 24: Brazil, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 25: Middle East, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 26: Africa, Transformers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Figure 27: ABB Financial Performance
  • Figure 28: General Electric Corporation Financial Performance
  • Figure 29:  Schneider Electric S.A. Financial Performance
  • Figure 30: Mitsubishi Electric Corporation Financial Performance
  • Figure 31: Schneider Electric Financial Performance
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