High Power Transformers Global Market Report 2024

Description

“High Power Transformers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on high power transformers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for high power transformers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The high power transformers market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Phase: Single Phase; Three Phase
2) By Mounting: Pad; Pole; PC/PCB; Other Mountings
3) By Application: Industrial; Commercial; Residential
Companies Mentioned: Schneider Electric; Hyosung Corporation Power & Industrial Performance; Performance Group; Hyundai Heavy Industries Co. Ltd.; TBEA Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

High-power transformers are typically characterized as transformers with power ratings ranging from 801 MVA to 1200 MVA. These transformers play a crucial role in converting voltages, often transforming them from higher to lower levels or adapting them from one stage or phase configuration to another. High-power transformers serve diverse purposes, including electrical insulation, power distribution, control, and instrumentation.

In the high-power transformers market, the primary types include single-phase and three-phase transformers. Single-phase transformers operate using single-phase alternating current and depend on a voltage cycle that operates in a unified time phase. These transformers can be mounted using various techniques, including pad, pole, PC/PCB, and others, and find applications in industrial, commercial, and residential settings.

The high-power transformers market research report is one of a series of new reports from The Business Research Company that provides high-power transformers market statistics, including high-power transformers industry global market size, regional shares, competitors with a high-power transformers market share, detailed high-power transformers market segments, market trends and opportunities, and any further data you may need to thrive in the high-power transformers industry. This high-power 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 high power transformers market size has grown steadily in recent years. It will grow from $12.76 billion in 2023 to $13.26 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth observed in the historical period can be attributed to factors such as increasing electricity demand, substantial infrastructure development, ongoing technological advancements, and growth in the energy sector.

The high power transformers market size is expected to see steady growth in the next few years. It will grow to $15.15 billion in 2028 at a compound annual growth rate (CAGR) of 3.4%. Anticipated growth in the forecast period is driven by several factors, including the integration of renewable energy sources, advancements in grid modernization, the increasing trend of electrification, and a heightened focus on enhancing grid resilience. Moreover, key trends expected in the forecast period encompass further progress in grid modernization efforts, the adoption of smart transformer technologies, the electrification of transportation systems, and the development of digital substations.

The government-led initiatives aimed at universal electricity access are fueling the demand for high-power transformers. Globally, governments are striving to bring electricity to rural and hard-to-reach areas, consequently bolstering the need for rural electrification. A prime example is the Government of India's efforts to enhance the country's electricity production. In July 2022, the Indian government initiated the restructured distribution sector scheme within the power sector. This scheme is designed to reinforce India's commitment to renewable energy objectives and its aspirations for eco-friendly transportation.

The high-power transformer market is experiencing growth driven by surging electricity demand and consumption in the historical period. Electricity demand signifies the overall electrical power required by consumers and industries at any given time. High-power transformers play a critical role in meeting this demand by enabling the efficient transmission and distribution of electrical power. As of June 2023, the Energy Institute (EI) reported a 2.3% global increase in total electricity generation in 2022. Furthermore, primary energy consumption in non-OECD countries soared by 20.5 exajoules from pre-COVID 2019 levels, primarily due to China's substantial growth of 14.6 exajoules, constituting 72% of the overall rise. Consequently, the escalating electricity demand is anticipated to drive the expansion of the high-power transformer market.

The high-power transformer market faces a significant restraint due to the instability in raw material prices. The volatility in steel, copper, and crude oil prices contributes to this instability. Furthermore, prices of power transformers vary among manufacturers, influenced by market conditions and production facility locations. This discrepancy often leads to conflicts between manufacturers and clients. As a result, some key players in the transformer industry have shifted their manufacturing operations to regions like India and China, where production costs are lower and demand is higher. This geographical shift serves as a limiting factor in the global growth of the high-power transformer market.

The transformer manufacturing industry is witnessing a shift towards the development of autonomous and adaptive smart transformers. These transformers are equipped to continually regulate voltage, maintain communication with stakeholders, and offer data and insights on power supply. They deliver precise power levels required and adapt to fluctuations through voltage optimization, significantly reducing both greenhouse gas emissions and power usage. As an example, the US Department of Energy (DOE) committed a $7.5 million investment for advancing smart transformer research to bolster grid resilience. Companies are encouraged to explore technology investments aimed at producing smart transformers tailored for commercial use.

Major players in the high-power transformer market are strategically concentrating on innovating dry type transformers, such as CAREPOLE, to establish a competitive edge. CAREPOLE represents an innovative dry-type single-phase transformer intended for pole applications within power grids, offering a sustainable alternative to oil-filled transformers. Siemens Energy AG, a German-based energy corporation, launched CAREPOLE in April 2022, specifically engineered to meet the technological requirements of the American power grid. This state-of-the-art cast-resin distribution transformer presents a reliable and environmentally conscious substitute for conventional oil-filled transformers. Notably, it's designed as a convenient plug-and-play solution, incorporating a fixing mechanism akin to traditional fluid-immersed transformers.

In a significant move in June 2021, GE-Prolec Transformers, Inc., a subsidiary formed through a 50/50 partnership between General Electric (GE) and Xignux, a private company based in Mexico, acquired the SPX Transformer Solutions business for $645 million. This acquisition is anticipated to expand Prolec GE's influence as a key distributor and power transformer player, broadening the array of products and offering a more robust, next-generation portfolio to clients. SPX Transformer Solutions, a US-based high-power transformer manufacturer, was the entity acquired in this substantial deal.

Major companies operating in the high power transformers market include Schneider Electric, Hyosung Corporation Power & Industrial Performance, Performance Group, Hyundai Heavy Industries Co. Ltd., TBEA Co. Ltd., Mitsubishi Electric Corporation, Hammond Power Solutions Inc., SPX Transformer Solutions Inc., Jinpan International Limited, Hitachi Ltd., SGB-SMIT Group, Jefferson Electric Inc., CG Power Systems Canada Inc., Toshiba Corporation, KOTSONS Pvt. Ltd., Layer Electronics Co. Ltd., LS ELECTRIC Co. Ltd., Kirloskar Electric Company Limited, Mace Industries Limited, ALTRAFO Transformers South Africa (Pty) Ltd., DuPont de Nemours Inc., ELANTAS Beck India Limited, Eremu S.A., Fuji Electric Co. Ltd., WEG S.A., Jiangsu Huapeng Transformer Co. Ltd., ABB Asea Brown Boveri Ltd., Bharat Heavy Electricals Limited, Crompton Greaves Limited, Siemens Aktiengesellschaft, Alstom SA

Asia-Pacific was the largest region in the high power transformers market in 2023. Western Europe is the second-largest region in the high power transformers market. The regions covered in the high power transformers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the high power transformers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The high-power transformers market consists of sales of single-phase high-power transformers, three phases high power transformers, and other high-power transformers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9139

1. Executive Summary

2. High Power Transformers Market Characteristics

3. High Power Transformers Market Trends And Strategies

4. High Power Transformers Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global High Power Transformers Market Size and Growth

5.1. Global High Power Transformers Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global High Power Transformers Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global High Power Transformers Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. High Power Transformers Market Segmentation

6.1. Global High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Single Phase
Three Phase
6.2. Global High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Pad
Pole
PC/PCB
Other Mountings
6.3. Global High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Industrial
Commercial
Residential

7. High Power Transformers Market Regional And Country Analysis

7.1. Global High Power Transformers Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global High Power Transformers Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific High Power Transformers Market

8.1. Asia-Pacific High Power 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 High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China High Power Transformers Market

9.1. China High Power Transformers Market Overview
9.2. China High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India High Power Transformers Market

10.1. India High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan High Power Transformers Market

11.1. Japan High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia High Power Transformers Market

12.1. Australia High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia High Power Transformers Market

13.1. Indonesia High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea High Power Transformers Market

14.1. South Korea High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe High Power Transformers Market

15.1. Western Europe High Power Transformers Market Overview
15.2. Western Europe High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK High Power Transformers Market

16.1. UK High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany High Power Transformers Market

17.1. Germany High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France High Power Transformers Market

18.5. France High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy High Power Transformers Market

19.9. Italy High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain High Power Transformers Market

20.13. Spain High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe High Power Transformers Market

21.1. Eastern Europe High Power Transformers Market Overview
21.2. Eastern Europe High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia High Power Transformers Market

22.1. Russia High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America High Power Transformers Market

23.1. North America High Power Transformers Market Overview
23.2. North America High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA High Power Transformers Market

24.1. USA High Power Transformers Market Overview
24.2. USA High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada High Power Transformers Market

25.1. Canada High Power Transformers Market Overview
25.2. Canada High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America High Power Transformers Market

26.1. South America High Power Transformers Market Overview
26.2. South America High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil High Power Transformers Market

27.1. Brazil High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East High Power Transformers Market

28.1. Middle East High Power Transformers Market Overview
28.2. Middle East High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa High Power Transformers Market

29.1. Africa High Power Transformers Market Overview
29.2. Africa High Power Transformers Market, Segmentation By Phase, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa High Power Transformers Market, Segmentation By Mounting, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa High Power Transformers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. High Power Transformers Market Competitive Landscape And Company Profiles

30.1. High Power Transformers Market Competitive Landscape
30.2. High Power Transformers Market Company Profiles
- 30.2.1. Schneider Electric
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Hyosung Corporation Power & Industrial Performance
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Performance Group
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Hyundai Heavy Industries Co. Ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. TBEA Co. Ltd.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global High Power Transformers Market Competitive Benchmarking

32. Global High Power Transformers Market Competitive Dashboard

33. Key Mergers And Acquisitions In The High Power Transformers Market

34. High Power Transformers Market Future Outlook and Potential Analysis

34.1 High Power Transformers Market In 2028 - Countries Offering Most New Opportunities
34.2 High Power Transformers Market In 2028 - Segments Offering Most New Opportunities
34.3 High Power Transformers Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer