Global Power Transformer Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Power Transformer Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Power transformer is a kind of static electrical equipment used to convert AC voltage and current to transmit AC power. It is based on the principle of electromagnetic induction to achieve electrical energy transfer. Transformers can be divided into power transformers, test transformers, instrument transformers and special-purpose transformers for their purposes: power transformers are necessary equipment for power transmission and distribution, power users to distribute power; test transformers are subjected to withstand voltage (boost) for electrical equipment. Test equipment; instrument transformers are used for electrical measurement and relay protection of power distribution systems (PT, CT); special-purpose transformers include electric furnace transformers for electric smelting, electric welding transformers, rectifying transformers for electrolysis, and small voltage regulating transformers.

Market Overview:

The latest research study on the global Power Transformer market finds that the global Power Transformer market reached a value of USD 29205.26 million in 2022. It’s expected that the market will achieve USD 41522.1 million by 2028, exhibiting a CAGR of 6.04% during the forecast period.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

The top three companies are ABB, TBEA and Siemens with the revenue market share of 15.03%, 10.07% and 10.04% in 2017.

ABB Ltd manufactures and sells electrification, robotics and motion, industrial automation, and power grid products worldwide. Its Electrification Products segment provides modular substation packages, distribution automation products, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions. This segment serves building, data center, rail, wind and solar, food and beverage, marine, and oil and gas industries. The company’s Robotics and Motion segment offers robotics, motors, generators, drives, wind converters, components and systems for railways and related services.

TBEA Co., Ltd. provides power energy, power transmission, renewable energy, new material, and energy solutions worldwide. The company manufactures and sells transformers, switches, electric wires and cables, cable accessories, integrated substation automation products, smart distribution grids, and charging facilities. It also provides power control systems, photovoltaic products, polycrystalline silicon, flexible equipment for power transmission and distribution, white carbon black, silicon ships, and inverters. In addition, the company offers alloy materials, including alloy rods, aluminum alloy rod products, aluminum alloy ingots, resmelting aluminum ingots, and slab ingot products.

Segmentation Overview:

Among different product types, Low (100 MVA to 500 MVA) segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Utility segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Power Transformer market covered in Chapter 3:

GE
Toshiba
Baoding Tianwei Group
ABB
Hyundai Heavy
Jiangsu Huapeng
Tebian Electric
XD Group
Mitsubishi
Schneider
TBEA
Hitachi
Siemens
Hangzhou Qianjiang Electric Group
Alstom

In Chapter 4 and Chapter 14.2, on the basis of types, the Power Transformer market from 2018 to 2029 is primarily split into:

Low (100 MVA to 500 MVA)
Medium (501 MVA to 800 MVA)
High (801 MVA to 1200 MVA)

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Power Transformer market from 2018 to 2029 covers:

Residential & Commercial
Utility
Industrial
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)