Power Transformer Market Size Projected to Grow $41.62 billion by 2030 | MarketsandMarkets™
Delray Beach, FL, Sept. 28, 2025 (GLOBE NEWSWIRE) -- The global Power Transformer Market size is expected to grow from USD 30.38 billion in 2025 to USD 41.62 billion by 2030, at a CAGR of 6.5% according to a new report by MarketsandMarkets™. The power transformer market is experiencing rapid growth, driven by the increasing global demand for reliable, efficient, and sustainable power infrastructure. With the rise in energy consumption especially in rapidly urbanizing and industrializing regions like Asia-Pacific utilities and industries are investing heavily in high-capacity transmission systems to ensure grid stability, minimize energy losses, and improve operational performance. Power transformers play a crucial role in high-voltage transmission networks, enabling efficient long-distance electricity transfer by stepping up or stepping down voltage levels as needed. The accelerating integration of renewable energy sources such as wind and solar into national grids has further boosted demand for advanced power transformers capable of managing variable power loads and ensuring seamless connectivity between conventional and renewable systems.
The power transformer market growth is largely driven by the increasing need to reinforce power distribution and transmission infrastructure in response to the rising global demand for electricity. Additionally, the market benefits from the expanding integration of renewable energy sources and significant investments in industrial development, fueling the demand for efficient and high-capacity power transformers. A notable growth catalyst is the accelerating adoption of high-voltage direct current (HVDC) systems, which require advanced transformer solutions for long-distance, high-efficiency power transmission, further propelling the market.
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Nuclear Power Market Scope:
| Report Coverage | Details |
| Market Size | USD 41.62 billion by 2030 |
| Growth Rate | 6.5% of CAGR |
| Largest Market | Asia Pacific |
| Market Dynamics | Drivers, Restraints, Opportunities & Challenges |
| Forecast Period | 2025-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Power Transformer Market by power rating, phase, cooling type, and end use, and region. |
| Geographies Covered | Asia Pacific, North America, Europe, the Middle East and Africa, and South America. |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Shift toward smart grid infrastructure |
| Key Market Drivers | Rising need to upgrade transmission infrastructure due to high power demand |
The global power transformer market is poised for sustained growth, which can be attributed to the rising electricity demand, the expanding infrastructure, and the global shift toward renewable energy. Utilities continue to lead the market, supported by large-scale grid modernization initiatives, especially in key regions, such as the US, where federal policies and efficiency standards are accelerating the adoption of advanced transformer technologies. The dominance of three-phase transformers reflects their superior performance and compatibility with modern grid systems, while technological advancements in insulation, digital monitoring, and energy efficiency create new revenue streams for manufacturers. As smart grids and clean energy integration become central to the energy transition, the power transformer market is expected to be pivotal in building a more resilient, efficient, and sustainable global power infrastructure.
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Power Transformer Market Dynamics:
Drivers:
- Rising focus on grid modernization to meet peak power demand
- Increasing emphasis on renewable energy capacity expansion
Restraints:
- Limited budget for grid expansion projects in developing economies
- Shortage of skilled professionals for installing advanced transformers
Opportunities:
- Rise of decentralized power generation
- Shift from traditional to smart grid infrastructure
Challenges:
- Cybersecurity threats posed by grid digitalization
North America is expected to be the second fastest-growing region in the power transformer market
North America is projected to be the second fastest-growing region in the power transformer market during the forecast period due to a strong focus on upgrading aging grid infrastructure, integrating renewable energy sources, and meeting increasing electricity demand driven by data centers, electric vehicles, and industrial automation. The proactive approach to modernizing transmission and distribution networks and government initiatives supporting clean energy transitions significantly boosts the demand for high-efficiency power transformers. In addition, the presence of major industry players, technological advancements, and regulatory policies emphasizing energy reliability and grid resilience further contribute to the robust growth in the power transformer market.
Key Market Players:
Some of the major players in the global Power Transformer Market include Hitachi Energy (Japan), General Electric (US), Siemens (Germany), Mitsubishi Electric (Japan), Eaton Corporation (Ireland), Hyundai Electric (South Korea), Schneider Electric (France), Fuji Electric (Japan), Toshiba Energy System & Solution Corporation (Japan), and CG Power and Industrial Solutions (India).
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