Global Transformer Market Growth 2023-2029

Global Transformer Market Growth 2023-2029

A transformer is a passive component that transfers electrical energy from one electrical circuit to another circuit, or multiple circuits. A varying current in any coil of the transformer produces a varying magnetic flux in the transformer's core, which induces a varying electromotive force across any other coils wound around the same core. Electrical energy can be transferred between separate coils without a metallic (conductive) connection between the two circuits.

LPI (LP Information)' newest research report, the “Transformer Industry Forecast” looks at past sales and reviews total world Transformer sales in 2022, providing a comprehensive analysis by region and market sector of projected Transformer sales for 2023 through 2029. With Transformer sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Transformer industry.

This Insight Report provides a comprehensive analysis of the global Transformer landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Transformer portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Transformer market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Transformer and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Transformer.

The global Transformer market size is projected to grow from US$ 22090 million in 2022 to US$ 29160 million in 2029; it is expected to grow at a CAGR of 29160 from 2023 to 2029.

Asia-Pacific is the largest transformers market with about 49% market share. Europe is follower, accounting for about 21% market share.

The key players are Tbea, China XD Electric, Hitachi Energy (ABB) etc. Top 3 companies occupied about 22% market share.

This report presents a comprehensive overview, market shares, and growth opportunities of Transformer market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Oil Immersed Transformer

Dry-type Transformer

Others

Segmentation by application

Power Industry

Metallurgical Industry

Rail

Municipal Construction

Petrochemical Industry

New Energy (Photovoltaic, Wind Power, etc.)

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Tbea

China XD Electric

Hitachi Energy (ABB)

Huapeng Transformer

Siemens

SDEE

Shandong Dachi Electric

Toshiba

Jinpan Technology

Sanbian Sci-Tech

Hangzhou Qiantang Riever Electric Group

Sunten Electrical Equipment

BTW

Jiangxi Transformer Science

State Grid Yingda

Creative Distribution Automation

Sojo

Guangzhou Baiyun Electric

Jiangsu Yangdong Electric

Wolong

Shenda Electric

Schneider

Wujiang Transformer

Eaglerise Electric & Electronic

Beijing Hezong Science

Key Questions Addressed in this Report

What is the 10-year outlook for the global Transformer market?

What factors are driving Transformer market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Transformer market opportunities vary by end market size?

How does Transformer break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.