HYDERABAD, India, Dec. 17, 2025 /PRNewswire/ -- According to the latest report of Mordor Intelligence, the global power transformer market is set to grow from about USD 24.8 billionin 2025 to nearly USD 33.5 billion by 2030, reflecting a steady 6.22% CAGR. Demand is accelerating as industries electrify, utilities expand renewable connections, and regulators tighten grid-reliability requirements. With manufacturing backlogs stretching beyond two years, buyers now prioritize delivery as much as technical performance. Major utilities, IPPs, and cloud data-center operators are increasingly signing multi-year supply agreements that secure production slots in advance.
Emerging Trends and Developments:
Rising Influence of Renewable-Based Power Systems
Growing reliance on wind and solar is reshaping transformer requirements, pushing the need for units that can stabilize rapid voltage changes and manage two-way energy flow. As utilities adopt newer architectures-from solid-state designs to compact modular units-manufacturers are responding with flexible builds that can be assembled on-site and adjusted across multiple voltage classes. Digital design tools now allow operators to model performance before installation, helping reduce operational risk.
Grid Modernization and Refurbishment Needs
A significant share of existing transmission equipment is reaching the end of its useful life, driving a wave of replacements and overhauls. Utilities are leaning on advanced condition-monitoring tools to prioritize repairs, yet many assets still show aging-related wear that necessitates complete renewal. Refurbishment teams increasingly perform on-site upgrades to cut delays, though long-deferred maintenance continues to fuel strong demand for new transformer installations.
Strengthening Network Resilience and HVDC Expansion
Growing exposure to extreme weather and cyber threats is prompting tougher reliability standards across power networks. At the same time, the expansion of long-distance HVDC links-particularly for offshore and cross-regional energy transfer-is elevating the need for transformers built to withstand demanding electrical stresses. Producers with advanced testing capabilities and specialized insulation technologies are becoming preferred partners as grid operators plan phased high-voltage upgrades.
Regional Outlook
In North America, the market is stable but often limited by manufacturing capacity. Policy support encourages domestic output, and major transmission projects are prompting collaboration between local plants and global suppliers. Canada is upgrading hydro-linked networks, and Mexico's growing industrial base is increasing substation requirements.
Asia-Pacific region stands out as both the largest and fastest-growing market. The regional dominance reflects rising electricity demand, ongoing grid expansion, and strong investment in renewable integration across emerging and developed economies.
Power Transformer Market Segmentation:
By Power Rating (MVA)
- Large (Above 100 MVA)
- Medium (10 to 100 MVA)
- Small (Up to 10 MVA)
By Cooling Type
- Air-cooled
- Oil-cooled
By Phase
- Single-phase
- Three-phase
By End-User
- Power utilities (renewables, non-renewables, and T&D)
- Industrial
- Commercial
- Residential
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- ASEAN countries
- Australia & New Zealand
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Egypt
- Rest of Middle East & Africa
For a full breakdown of power transformer market size, segmentation data, and competitive intelligence, access all details of the Mordor Intelligence report at: https://www.mordorintelligence.com/industry-reports/power-transformers-market?utm_source=prnewswire
Power Transformers Industry Players
- Hitachi Energy (ABB)
- Siemens Energy AG
- GE Vernova
- Toshiba Energy Systems & Solutions
- Hyundai Electric & Energy Systems
- Mitsubishi Electric Corporation
- Hyosung Heavy Industries
- Bharat Heavy Electricals Limited
- CG Power & Industrial Solutions
- SPX Transformer Solutions
- TBEA Co. Ltd.
- JiangSu HuaPeng Transformer
- Shandong Taikai Transformer
- Schneider Electric
- Eaton Corporation
- Fuji Electric
- LS Electric
- WEG SA
- Wilson Transformer Company
- Saudi Transformers Co.
- Elsewedy Electric
- Hammond Power Solutions
- TriDelta Meidensha
Explore Energy and Power Industry Research Reports: https://www.mordorintelligence.com/market-analysis/energy-power?utm_source=prnewswire
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