電力変圧器市場 – 2030年までの世界予測

Power Transformer Market - Global Forecast To 2030

電力変圧器市場 - 電力定格(小、中、大)、冷却方式(油冷、空冷)、相(単相、三相)、最終用途(公共事業、住宅・商業、工業)、および地域別 - 2030年までの世界予測
Power Transformer Market by Power Rating (Small, Medium, Large), Cooling Type (Oil-cooled, Air-cooled), Phase (Single Phase, Three Phase), End Use (Utilities, Residential & Commercial, Industrial), and Region - Global Forecast to 2030

商品番号 : SMB-56384

出版社MarketsandMarkets
出版年月2025年8月
ページ数302
図表数315
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

本レポートは、電力変圧器市場の包括的な分析を提示し、主要なパラメータの詳細な定義、説明、および将来予測を提供しています。本調査は、相(単相および三相)、電力定格(小(最大60MVA)、中(61~600MVA)、大(600MVA以上)、冷却方式(油冷および空冷)、および最終用途(産業、住宅・商業、公益事業)別にセグメント化されています。また、アジア太平洋、北米、欧州、中東・アフリカ、南米を網羅した地域別内訳も提供しています。本レポートは、定性的および定量的な洞察を提供し、主要な市場牽引要因、制約要因、機会、そして業界を形成する課題を明らかにしています。さらに、市場ダイナミクスの詳細な評価、価値ベースの予測、競合状況分析、そして新たなトレンドを網羅し、世界の電力変圧器市場の現状と将来展望を包括的に示しています。

世界の電力変圧器市場は、2025年の303億8000万米ドルから2030年には416億2000万米ドルに拡大し、予測期間中に年平均成長率(CAGR)6.5%で成長すると予測されています。この上昇傾向は、急速な工業化、製造活動の拡大、先進国および新興国における継続的なインフラ整備を背景とした世界的な電力需要の増加が主な要因です。特に産業部門は、近代的な施設には堅牢で効率的な配電システムが必要であり、電力変圧器が不可欠なため、この需要に大きく貢献しています。産業用途に加えて、市場では商業、サービス、住宅部門からの需要も増加しています。商業施設は生産性を維持するために途切れることのない電力にますます依存しており、医療、教育、ホスピタリティなどのサービス部門では、デジタルインフラとサービス提供を支えるために電力消費が急増しています。一方、人口増加と都市化により、住宅地における信頼性が高く安定した電力供給の必要性が高まっています。これらの傾向は、多様な最終用途分野にわたって安定したエネルギー供給を確保する上で電力変圧器が果たす重要な役割を強調しています。

The global power transformer market is projected to grow from USD 30.38 billion in 2025 to USD 41.62 billion by 2030, at a CAGR of 6.5% during the forecast period. This upward trajectory is primarily driven by the rising global demand for electricity, fueled by rapid industrialization, expanding manufacturing activities, and ongoing infrastructure development across developed and emerging economies. The industrial sector, in particular, is a major contributor to this demand, as modern facilities require robust and efficient power distribution systems, where power transformers are crucial. In addition to industrial applications, the market is experiencing growing demand from the commercial, service, and residential sectors. Commercial operations increasingly rely on uninterrupted power to maintain productivity, while the service sectors, including healthcare, education, and hospitality, are seeing a surge in electricity consumption to support digital infrastructure and service delivery. Meanwhile, population growth and urbanization drive the need for a reliable and consistent power supply in residential areas. Together, these trends underscore the critical role of power transformers in ensuring stable energy distribution across diverse end-use sectors.

電力変圧器市場 - 2030年までの世界予測 - chosareport.com
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“By power rating, large (above 600 MVA) is anticipated to be the fastest-growing segment from 2025 to 2030”

The large (above 600 MVA) segment is expected to exhibit the highest CAGR from 2025 to 2030. The global shift toward renewable energy and the deployment of utility-scale wind and solar projects result in the rising demand for high-capacity transmission systems capable of efficiently handling high voltages over long distances, making large transformers essential. In rapidly industrializing and urbanizing regions, expanding and modernizing power grids to support rising energy consumption further accelerates the need for these high-capacity units. Additionally, the increasing trend of cross-border grid interconnections aimed at improving power supply reliability and stability boosts the demand for large power transformers. In developed economies, efforts to replace aging infrastructure with advanced, energy-efficient systems also contribute to this growth. These developments position large power transformers as critical enablers of resilient, future-ready energy networks, supporting traditional and renewable power systems.

“Based on phase type, the three-phase transformers segment is projected to hold the largest market share in 2030”

The three-phase transformer segment is expected to hold the largest market share in 2030. It is driven by its widespread use across commercial, industrial, and utility sectors that require high-capacity solutions for efficient power transmission and distribution. These transformers are well-suited for high-load applications, offering superior efficiency, stable power flow, and reduced energy losses. These factors make transformers essential in settings with substantial and continuous power demands. As global energy consumption rises alongside expanding industrial operations and infrastructure development, the demand for reliable and high-performance transformers continues to grow. Moreover, three-phase transformers are critical in integrating renewable energy sources into the grid, supporting the global shift toward cleaner and more sustainable energy systems. Their ability to manage larger electrical loads efficiently and their versatility across various high-demand sectors solidify their position as the leading segment in the power transformer market over the forecast period.

“North America is expected to be the second fastest-growing region in the power transformer market during the forecast period”

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 during the forecast period.

Breakdown of Primaries:

Through in-depth interviews with subject-matter experts, C-level executives of leading market players, industry consultants, and other specialists, significant qualitative and quantitative data were obtained and confirmed, along with future market prospects. The primary interviews were distributed as follows:

  • By Company Type: Tier 1 – 45%, Tier 2 – 40%, and Tier 3 – 15%
  • By Designation: C-Level Executives – 35%, Directors– 25%, and Others – 40%
  • By Region: North America – 18%, Europe – 15%, Asia Pacific – 50%, Middle East & Africa – 10%, and South America – 7%

Note: “Others” include sales managers, engineers, and regional managers

The tiers of the companies are defined based on their total revenue as of 2022: Tier 1: >USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3: <USD 500 million.

International giants primarily dominate the power transformer market. Some leading companies operating in the 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).

電力変圧器市場 - 2030年までの世界予測 - ecosystem
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Research Coverage:

This report presents a comprehensive analysis of the power transformer market, offering detailed definitions, descriptions, and forward-looking projections across key parameters. The study is segmented by phase (single-phase and three-phase), power rating [small (up to 60 MVA), medium (61–600 MVA), and large (above 600 MVA)], cooling type (oil-cooled and air-cooled), and end use (industrial, residential & commercial, and utilities). It also provides a regional breakdown covering Asia Pacific, North America, Europe, the Middle East & Africa, and South America. The report delivers qualitative and quantitative insights, highlighting key market drivers, restraints, opportunities, and challenges shaping the industry. In addition, it includes an in-depth assessment of market dynamics, value-based forecasts, competitive landscape analysis, and emerging trends, offering a holistic view of the current state and future outlook of the global power transformer market.

Key Benefits of Buying the Report

The report is thoughtfully designed to meet the needs of seasoned industry leaders and new entrants in the power transformer market. It provides dependable revenue projections for the overall market and its various sub-segments, making it a crucial tool for stakeholders looking to understand the competitive environment deeply. This information helps stakeholders develop effective market strategies for their businesses. Furthermore, the report serves as a key resource for stakeholders to grasp the current market scenario, offering vital insights into the drivers, constraints, challenges, and opportunities for growth. With these insights, stakeholders can make well-informed decisions and keep up with the rapidly changing dynamics of the Power Transformers industry.

  • Analysis of key drivers (Growing electricity demand, Rising integration of renewable energy sources), restraints (Cost pressures and lead times, Limited market penetration in developing economies), opportunities (Rise of decentralized generation, Smart grid development and rise of advanced transformers), and challenges (Aging infrastructure and shortage of skilled workforce, Cybersecurity threats amid power grid digitalization) influencing the growth of the power transformer market.
  • Product Development/ Innovation: Product development and innovation are pivotal in advancing the power transformer market. With continuous technological progress, manufacturers increasingly focus on creating high-performance, energy-efficient, safe transformer solutions. These innovations often incorporate smart features, advanced materials, and eco-friendly insulation technologies to meet the evolving demands of modern power distribution systems. Research and development efforts also aim to produce transformers that align with global sustainability goals and environmental standards. In the power transformer segment, companies leverage cutting-edge design techniques and technologies to meet but exceed industry requirements, delivering solutions that enhance the efficiency, reliability, and longevity of power networks. This ongoing emphasis on innovation underscores the industry’s commitment to addressing emerging challenges and improving the overall functionality and adaptability of power transformers in a rapidly changing energy landscape.
  • Market Development: Market development in the power transformer market is a continuous and strategic process, driven by the pursuit of new geographic opportunities and diversified application areas. Companies in this sector are actively expanding their footprint by entering untapped regions and adapting their products to cater to evolving customer needs across various industries. This includes aligning offerings with emerging trends, such as integrating renewable energy sources and modernizing aging grid infrastructure. Through these efforts, businesses broaden their customer base and refine their solutions to address the specific requirements of different end-use segments. Market development strategies often involve partnerships, joint ventures, and alliances to strengthen market positioning and enhance global reach. By staying responsive to shifting energy demands and technological advancements, companies ensure sustained growth, improved competitiveness, and long-term relevance in the dynamic and essential power transformer market.
  • Market Diversification: Market diversification in the power transformer market is a strategic approach aimed at reducing dependency on specific products or markets while unlocking new growth opportunities and enhancing overall business resilience. Companies achieve this by expanding their product portfolios—offering a range of transformer types, voltage capacities, and application-specific solutions—to meet the varying needs of diverse customer segments. This can involve targeting niche markets, developing customized solutions for specialized industries, or adapting products to suit emerging technologies, such as renewable energy integration and smart grid infrastructure. Geographic diversification is another key element, allowing companies to enter new regions or countries with distinct energy demands and regulatory landscapes. Successful diversification relies on a deep understanding of industry trends, customer requirements, and technological innovations, enabling businesses to remain agile in a rapidly evolving market. By embracing a well-rounded diversification strategy, companies can better manage economic uncertainties, capture emerging opportunities, and sustain a competitive edge in the dynamic power transformer landscape.
  • Competitive Assessment: An extensive analysis of the market presence, growth plans, and service offerings of major competitors in the power transformer market has been conducted. This research has been applied to notable firms including Hitachi Energy (Japan), Siemens Energy (Germany), Toshiba Energy System & Solution Corporation (Japan), General Electric (US), Hyundai Electric (South Korea), Fuji Electric (Japan), MGM Transformer Company (California), and CG Power and Industrial Solutions (India). The assessment provides an in-depth understanding of these big players’ competitive positions, illuminating their growth-oriented strategies and range of offerings in the power transformer market.

Table of Contents

1               INTRODUCTION              25

1.1           STUDY OBJECTIVES       25

1.2           MARKET DEFINITION   25

1.3           STUDY SCOPE   26

1.3.1        MARKETS COVERED       26

1.3.2        INCLUSIONS AND EXCLUSIONS 27

1.3.3        YEARS CONSIDERED      28

1.4           CURRENCY CONSIDERED            28

1.5           UNITS CONSIDERED      28

1.6           LIMITATIONS    28

1.7           STAKEHOLDERS               29

1.8           SUMMARY OF CHANGES               29

2               RESEARCH METHODOLOGY       30

2.1           RESEARCH DATA              30

2.1.1        SECONDARY DATA          31

2.1.1.1    List of key secondary sources              31

2.1.1.2    Key data from secondary sources       31

2.1.2        PRIMARY DATA 32

2.1.2.1    List of primary interview participants               32

2.1.2.2    Key industry insights           32

2.1.2.3    Key data from primary sources           33

2.1.2.4    Breakdown of primaries      33

2.2           MARKET SIZE ESTIMATION METHODOLOGY     35

2.2.1        BOTTOM-UP APPROACH              35

2.2.1.1    Approach to arrive at market size using bottom-up analysis

(demand side)       35

2.2.1.2    Regional analysis  36

2.2.1.3    Country-level analysis          36

2.2.1.4    Demand-side assumptions 36

2.2.1.5    Demand-side calculations   37

2.2.2        TOP-DOWN APPROACH                37

2.2.2.1    Approach to arrive at market size using top-down analysis (supply side)        38

2.2.2.2    Supply-side assumptions     39

2.2.2.3    Supply-side calculations      39

2.3           MARKET GROWTH FORECAST   40

2.4           MARKET BREAKDOWN AND DATA TRIANGULATION                 40

2.5           RESEARCH ASSUMPTIONS           41

2.6           RISK ASSESSMENT           41

2.7           RESEARCH LIMITATIONS             41

3               EXECUTIVE SUMMARY  42

4               PREMIUM INSIGHTS       46

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN POWER TRANSFORMER MARKET              46

4.2           POWER TRANSFORMER MARKET, BY REGION    47

4.3           POWER TRANSFORMER MARKET IN ASIA PACIFIC, BY PHASE AND COUNTRY  48

4.4           POWER TRANSFORMER MARKET, BY POWER RATING                 48

4.5           POWER TRANSFORMER MARKET, BY PHASE       49

4.6           POWER TRANSFORMER MARKET, BY COOLING TYPE                 49

4.7           POWER TRANSFORMER MARKET, BY END USER                 49

5               MARKET OVERVIEW       50

5.1           INTRODUCTION              50

5.2           MARKET DYNAMICS       51

5.2.1        DRIVERS               51

5.2.1.1    Rising focus on grid modernization to meet peak power demand                 51

5.2.1.2    Increasing emphasis on renewable energy capacity expansion                 52

5.2.2        RESTRAINTS      54

5.2.2.1    Limited budget for grid expansion projects in developing economies              54

5.2.2.2    Shortage of skilled professionals for installing advanced transformers          55

5.2.3        OPPORTUNITIES              56

5.2.3.1    Rise of decentralized power generation             56

5.2.3.2    Shift from traditional to smart grid infrastructure           57

5.2.4        CHALLENGES    58

5.2.4.1    Cybersecurity threats posed by grid digitalization          58

5.3           PORTER’S FIVE FORCES ANALYSIS           59

5.3.1        THREAT OF SUBSTITUTES          60

5.3.2        BARGAINING POWER OF SUPPLIERS       60

5.3.3        BARGAINING POWER OF BUYERS             60

5.3.4        THREAT OF NEW ENTRANTS      61

5.3.5        INTENSITY OF COMPETITIVE RIVALRY 61

5.4           SUPPLY CHAIN ANALYSIS             62

5.5           TECHNOLOGY ANALYSIS             63

5.5.1        KEY TECHNOLOGIES     63

5.5.1.1    High-temperature superconducting (HTS) transformers                 63

5.5.2        COMPLEMENTARY TECHNOLOGIES       64

5.5.2.1    Artificial intelligence-based digital fault protection relays                 64

5.5.3        ADJACENT TECHNOLOGIES       64

5.5.3.1    Digital twin technology       64

5.6           KEY CONFERENCES AND EVENTS, 2024  65

5.7           ECOSYSTEM ANALYSIS  66

5.8           PATENT ANALYSIS          68

5.9           CASE STUDY ANALYSIS 71

5.9.1        ABB IMPLEMENTS ONLINE OIL RECLAMATION SERVICE TO ADDRESS DETERIORATING OIL CONDITION OF TRANSFORMERS AT DEESIDE POWER STATION                 71

5.9.2        SPECIALIZED EQUIPMENT AND ECO-FRIENDLY TECHNIQUES ADDRESS OIL LEAKS AND ENHANCE TRANSFORMER SAFETY AT CENTRAL CITY SUBSTATION                 71

5.9.3        COMPREHENSIVE TESTING AND MAINTENANCE PROGRAMS HELP ADDRESS MINOR LEAKS AND OPERATIONAL HAZARDS OF AGING TRANSFORMERS AT BIG RIVER SUBSTATION     72

5.10         TRADE ANALYSIS             73

5.10.1      IMPORT SCENARIO (HS CODE 850423 AND HS CODE 850434)  73

5.10.2      EXPORT SCENARIO (HS CODE 850423 AND HS CODE 850434)  76

5.11         PRICING ANALYSIS          78

5.11.1      INDICATIVE PRICING ANALYSIS, BY POWER RATING                 78

5.11.2      AVERAGE SELLING PRICE TREND, BY REGION   79

5.12         INVESTMENT AND FUNDING SCENARIO               80

5.13         TARIFF AND REGULATORY LANDSCAPE               80

5.13.1      TARIFF ANALYSIS             80

5.13.2      REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             81

5.13.3      CODES AND REGULATIONS        85

5.14         TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            87

5.15         KEY STAKEHOLDERS AND BUYING CRITERIA     88

5.15.1      KEY STAKEHOLDERS IN BUYING PROCESS           88

5.15.2      BUYING CRITERIA           89

5.16         IMPACT OF GEN AI/AI IN POWER TRANSFORMER MARKET               90

5.16.1      ADOPTION OF GEN AI/AI IN POWER TRANSFORMER MARKET               90

5.16.2      IMPACT OF GEN AI/AI ON POWER TRANSFORMER MARKET, BY REGION     91

5.17         IMPACT OF 2025 US TARIFF ON POWER TRANSFORMER MARKET               92

5.17.1      INTRODUCTION              92

5.17.2      KEY TARIFF RATES          92

5.17.3      PRICE IMPACT ANALYSIS             93

5.17.4      IMPACT ON COUNTRIES/REGIONS         94

5.17.4.1  US           94

5.17.4.2  Europe   95

5.17.4.3  Asia Pacific            95

5.17.5      IMPACT ON END USERS                96

6               POWER TRANSFORMER MARKET, BY POWER RATING                 98

6.1           INTRODUCTION              99

6.2           UP TO 60 MVA   100

6.2.1        UTILITY SUBSTATION EXPANSION AND RURAL ELECTRIFICATION TO FUEL DEMAND  100

6.3           61–600 MVA         101

6.3.1        RAPID INDUSTRIALIZATION AND GRID INTERCONNECTION PROJECTS TO ACCELERATE SEGMENTAL GROWTH             101

6.4           ABOVE 600 MVA                102

6.4.1        BULK POWER TRANSMISSION AND CROSS-BORDER INTERCONNECTORS TO DRIVE DEMAND            102

7               POWER TRANSFORMERS MARKET, BY COOLING TYPE                 104

7.1           INTRODUCTION              105

7.2           OIL-COOLED     106

7.2.1        EXCELLENT THERMAL PROPERTIES AND RELIABILITY TO FOSTER SEGMENTAL GROWTH         106

7.3           AIR-COOLED     107

7.3.1        SIMPLICITY AND LOW-MAINTENANCE REQUIREMENTS TO SUPPORT MARKET GROWTH              107

8               POWER TRANSFORMER MARKET, BY PHASE       109

8.1           INTRODUCTION              110

8.2           SINGLE-PHASE 111

8.2.1        LOW MANUFACTURING COSTS AND EASY INSTALLATION TO CONTRIBUTE TO SEGMENTAL GROWTH                 111

8.3           THREE-PHASE   112

8.3.1        BALANCED POWER DISTRIBUTION AND HIGH EFFICIENCY TO DRIVE MARKET                112

9               POWER TRANSFORMER MARKET, BY END USER                 114

9.1           INTRODUCTION              115

9.2           UTILITIES            116

9.2.1        INCREASING GOVERNMENT INVESTMENT IN SMART GRID TECHNOLOGIES TO DRIVE MARKET           116

9.3           RESIDENTIAL & COMMERCIAL  118

9.3.1        GROWING DEMAND FOR DISTRIBUTION TRANSFORMERS TO ENSURE UNINTERRUPTED POWER SUPPLY TO FOSTER SEGMENTAL GROWTH         118

9.4           INDUSTRIAL      119

9.4.1        OIL & GAS            121

9.4.1.1    Increasing need for high-efficiency transformers to facilitate pipeline operations to drive market   121

9.4.2        METALS & MINING          122

9.4.2.1    Growing demand for amorphous core transformers for mineral extraction, refining, and processing to foster segmental growth   122

9.4.3        AUTOMOTIVE   123

9.4.3.1    Expansion of electric vehicle charging infrastructure to boost segmental growth 123

9.4.4        FOOD & BEVERAGES      123

9.4.4.1    Increasing reliance on food refrigeration and freezing units to contribute to market growth               123

9.4.5        POWER GENERATION   124

9.4.5.1    Rising emphasis on grid modernization and sustainability to fuel demand  124

9.4.6        DATA CENTERS                 124

9.4.6.1    Growing demand for UPS transformers to ensure uninterrupted operation to fuel segmental growth   124

9.4.7        OTHER INDUSTRIES       125

10            POWER TRANSFORMER MARKET, BY REGION    126

10.1         INTRODUCTION              127

10.2         NORTH AMERICA             129

10.2.1      US           132

10.2.1.1  Rising preference for renewable energy sources to contribute to market growth       132

10.2.2      CANADA               134

10.2.2.1  Increasing government initiatives to support grid modernization and increase energy efficiency to drive market                134

10.2.3      MEXICO                135

10.2.3.1  Growing population and industrialization to contribute to market growth    135

10.3         EUROPE               136

10.3.1      GERMANY           140

10.3.1.1  Rising emphasis on transitioning to sustainable energy sources to maintain grid resilience to propel market         140

10.3.2      UK          142

10.3.2.1  Increasing focus on achieving net-zero carbon footprint and modernizing grid to fuel market growth           142

10.3.3      ITALY    143

10.3.3.1  Mounting government investment in power transmission and distribution networks to drive market               143

10.3.4      FRANCE                144

10.3.4.1  Rising concerns about aging infrastructure to contribute to market growth       144

10.3.5      SPAIN    145

10.3.5.1  Escalating private investment in smart grid infrastructure to foster market growth            145

10.3.6      REST OF EUROPE             146

10.4         ASIA PACIFIC     148

10.4.1      CHINA  152

10.4.1.1  Rapid industrialization and infrastructural development to accelerate market growth    152

10.4.2      INDIA    154

10.4.2.1  Growth of electric vehicle charging infrastructure to drive market                 154

10.4.3      JAPAN   155

10.4.3.1  Heightened emphasis on integrating smart grids and renewable energy to fuel market growth              155

10.4.4      SOUTH KOREA  156

10.4.4.1  Robust energy infrastructure and grid modernization efforts to drive demand        156

10.4.5      AUSTRALIA         157

10.4.5.1  Shift to renewable energy sources to contribute to market growth                 157

10.4.6      REST OF ASIA PACIFIC   159

10.5         MIDDLE EAST & AFRICA                160

10.5.1      GCC COUNTRIES              163

10.5.1.1  Saudi Arabia          165

10.5.1.1.1                Transition from petroleum to balanced mix of natural gas and renewable energy for power generation to drive market  165

10.5.1.2  UAE        166

10.5.1.2.1                Implementation of initiatives to increase access to reliable and sustainable electricity to augment market growth     166

10.5.1.3  Rest of GCC countries         168

10.5.2      SOUTH AFRICA 169

10.5.2.1  Increasing investment in power infrastructure due to industrialization to fuel market growth             169

10.5.3      REST OF MIDDLE EAST & AFRICA             170

10.6         SOUTH AMERICA             172

10.6.1      BRAZIL 175

10.6.1.1  Increasing electricity consumption due to economic development and urbanization to accelerate market growth 175

10.6.2      ARGENTINA       176

10.6.2.1  Rising power generation from renewable sources to fuel market growth    176

10.6.3      REST OF SOUTH AMERICA           177

11            COMPETITIVE LANDSCAPE         179

11.1         INTRODUCTION              179

11.2         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2022–2025                 179

11.3         MARKET SHARE ANALYSIS, 2024                 182

11.4         REVENUE ANALYSIS, 2020–2024  186

11.5         COMPANY VALUATION AND FINANCIAL METRICS                 187

11.6         BRAND/PRODUCT COMPARISON             188

11.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 189

11.7.1      STARS   189

11.7.2      EMERGING LEADERS     189

11.7.3      PERVASIVE PLAYERS      189

11.7.4      PARTICIPANTS 189

11.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2024         191

11.7.5.1  Company footprint               191

11.7.5.2  Region footprint   192

11.7.5.3  Phase footprint     193

11.7.5.4  Power rating footprint         194

11.7.5.5  Cooling type footprint          195

11.7.5.6  End user footprint                 196

11.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        197

11.8.1      PROGRESSIVE COMPANIES         197

11.8.2      RESPONSIVE COMPANIES            197

11.8.3      DYNAMIC COMPANIES  197

11.8.4      STARTING BLOCKS         197

11.8.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024                 199

11.8.5.1  Detailed list of key startups/SMEs    199

11.8.5.2  Competitive benchmarking of key startups/SMEs          199

11.9         COMPETITIVE SCENARIO             200

11.9.1      PRODUCT LAUNCHES   200

11.9.2      DEALS  202

11.9.3      EXPANSIONS     205

11.9.4      OTHER DEVELOPMENTS              207

12            COMPANY PROFILES      213

12.1         KEY PLAYERS     213

12.1.1      SIEMENS ENERGY            213

12.1.1.1  Business overview 213

12.1.1.2  Products/Services/Solutions offered 214

12.1.1.3  Recent developments           215

12.1.1.3.1                Product launches  215

12.1.1.3.2                Deals      215

12.1.1.3.3                Expansions             216

12.1.1.3.4                Other developments             216

12.1.1.4  MnM view              216

12.1.1.4.1                Key strengths        216

12.1.1.4.2                Strategic choices   217

12.1.1.4.3                Weaknesses and competitive threats 217

12.1.2      HITACHI ENERGY LTD. 218

12.1.2.1  Business overview 218

12.1.2.2  Products/Services/Solutions offered 219

12.1.2.3  Recent developments           220

12.1.2.3.1                Product launches  220

12.1.2.3.2                Deals      221

12.1.2.3.3                Expansions             222

12.1.2.3.4                Other developments             223

12.1.2.4  MnM view              225

12.1.2.4.1                Key strengths        225

12.1.2.4.2                Strategic choices   225

12.1.2.4.3                Weaknesses and competitive threats 225

12.1.3      TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION 226

12.1.3.1  Business overview 226

12.1.3.2  Products/Services/Solutions offered 227

12.1.3.3  Recent developments           228

12.1.3.3.1                Other developments             228

12.1.3.4  MnM view              229

12.1.3.4.1                Key strengths        229

12.1.3.4.2                Strategic choices   229

12.1.3.4.3                Weaknesses and competitive threats 229

12.1.4      HD HYUNDAI ELECTRIC CO., LTD.           230

12.1.4.1  Business overview 230

12.1.4.2  Products/Services/Solutions offered 231

12.1.4.3  Recent developments           232

12.1.4.3.1                Other developments             232

12.1.4.4  MnM view              233

12.1.4.4.1                Key strengths        233

12.1.4.4.2                Strategic choices   234

12.1.4.4.3                Weaknesses and competitive threats 234

12.1.5      GE VERNOVA     235

12.1.5.1  Business overview 235

12.1.5.2  Products/Services/Solutions offered 236

12.1.5.3  Recent developments           237

12.1.5.3.1                Product launches  237

12.1.5.3.2                Deals      238

12.1.5.3.3                Expansions             239

12.1.5.3.4                Other developments             239

12.1.5.4  MnM view              241

12.1.5.4.1                Key strengths        241

12.1.5.4.2                Strategic choices   241

12.1.5.4.3                Weaknesses and competitive threats 241

12.1.6      SCHNEIDER ELECTRIC  242

12.1.6.1  Business overview 242

12.1.6.2  Products/Services/Solutions offered 243

12.1.6.3  Recent developments           244

12.1.6.3.1                Product launches  244

12.1.6.3.2                Deals      244

12.1.6.3.3                Expansions             245

12.1.6.3.4                Other developments             246

12.1.7      CG POWER AND INDUSTRIAL SOLUTIONS LTD.                 248

12.1.7.1  Business Overview                248

12.1.7.2  Products/Services/Solutions offered 249

12.1.7.3  Recent developments           250

12.1.7.3.1                Deals      250

12.1.7.3.2                Expansions             251

12.1.7.3.3                Other developments             252

12.1.8      MITSUBISHI ELECTRIC CORPORATION 253

12.1.8.1  Business overview 253

12.1.8.2  Products/Services/Solutions offered 254

12.1.8.3  Recent developments           255

12.1.8.3.1                Deals      255

12.1.8.3.2                Other developments             255

12.1.9      HYOSUNG HEAVY INDUSTRIES 256

12.1.9.1  Business overview 256

12.1.9.2  Products/Services/Solutions offered 257

12.1.9.3  Recent developments           258

12.1.9.3.1                Expansions             258

12.1.9.3.2                Other developments             259

12.1.10   BHARAT HEAVY ELECTRICALS LIMITED               260

12.1.10.1                 Business overview 260

12.1.10.2                 Products/Services/Solutions offered 261

12.1.10.3                 Recent developments           262

12.1.10.3.1             Product launches  262

12.1.10.3.2             Expansions             262

12.1.10.3.3             Other developments             263

12.1.11   FUJI ELECTRIC CO., LTD.              264

12.1.11.1                 Business overview 264

12.1.11.2                 Products/Services/Solutions offered 265

12.1.11.3                 Recent developments           266

12.1.11.3.1             Other developments             266

12.1.12   SGB SMIT             267

12.1.12.1                 Business overview 267

12.1.12.2                 Products/Services/Solutions offered 267

12.1.12.3                 Recent developments           268

12.1.12.3.1             Deals      268

12.1.13   WEG      269

12.1.13.1                 Business overview 269

12.1.13.2                 Products/Services/Solutions offered 270

12.1.13.3                 Recent developments           271

12.1.13.3.1             Deals      271

12.1.13.3.2             Expansions             271

12.1.13.3.3             Other developments             273

12.1.14   TRANSFORMERS AND RECTIFIERS (INDIA) LIMITED                 274

12.1.14.1                 Business overview 274

12.1.14.2                 Products/Services/Solutions offered 275

12.1.15   NIAGARA POWER TRANSFORMER LLC   276

12.1.15.1                 Business overview 276

12.1.15.2                 Products/Services/Solutions offered 277

12.1.16   LS ELECTRIC CO., LTD. 278

12.1.16.1                 Business overview 278

12.1.16.2                 Products/Services/Solutions offered 279

12.1.16.3                 Recent developments           280

12.1.16.3.1             Deals      280

12.1.16.3.2             Expansions             280

12.1.16.3.3             Other development               281

12.1.17   HAMMOND POWER SOLUTIONS               282

12.1.17.1                 Business overview 282

12.1.17.2                 Products/Services/Solutions offered 283

12.1.18   DAELIM TRANSFORMER                284

12.1.18.1                 Business overview 284

12.1.18.2                 Products/Services/Solutions offered 284

12.1.19   BEST TRANSFORMER     286

12.1.19.1                 Business overview 286

12.1.19.2                 Products/Solutions/Services offered 286

12.1.20   WILSON POWER SOLUTIONS LTD.           288

12.1.20.1                 Business overview 288

12.1.20.2                 Products/Services/Solutions offered 288

12.1.20.3                 Recent developments           289

12.1.20.3.1             Other developments             289

12.2         OTHER PLAYERS              290

12.2.1      ORMAZABAL      290

12.2.2      ABC TRANSFORMERS (P) LTD.   291

12.2.3      VIJAY POWER     292

12.2.4      JSHP TRANSFORMER      292

12.2.5      CHINT GROUP  293

13            APPENDIX           294

13.1         INSIGHTS FROM INDUSTRY EXPERTS     294

13.2         DISCUSSION GUIDE        295

13.3         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                298

13.4         CUSTOMIZATION OPTIONS        300

13.5         RELATED REPORTS         300

13.6         AUTHOR DETAILS           301

LIST OF TABLES

TABLE 1                POWER TRANSFORMER MARKET: RISK ASSESSMENT     41

TABLE 2                POWER TRANSFORMER MARKET SNAPSHOT                 42

TABLE 3                POWER TRANSFORMER MARKET: IMPACT OF PORTER’S FIVE FORCES 59

TABLE 4                LIST OF KEY CONFERENCES AND EVENTS, 2024                 65

TABLE 5                POWER TRANSFORMER MARKET: ROLE OF COMPANIES IN ECOSYSTEM       66

TABLE 6                LIST OF PATENTS, 2021–2025       69

TABLE 7                IMPORT DATA FOR HS CODE 850423-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      73

TABLE 8                IMPORT DATA FOR HS CODE 850434-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      74

TABLE 9                EXPORT DATA FOR HS CODE 850423-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      76

TABLE 10              EXPORT DATA FOR HS CODE 850434-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      77

TABLE 11              INDICATIVE PRICING ANALYSIS, BY POWER RATING                78

TABLE 12              AVERAGE SELLING PRICE TREND, BY REGION, 2020–2024 (USD THOUSAND/UNIT)         79

TABLE 13              MFN TARIFF FOR HS CODE 850423-COMPLIANT LIQUID DIELECTRIC TRANSFORMERS OF >10,000 KVA, 2024                 80

TABLE 14              NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             81

TABLE 15              EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 82

TABLE 16              ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 83

TABLE 17              ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 84

TABLE 18              CODES AND REGULATIONS        85

TABLE 19              INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS

FOR TOP THREE END USERS      89

TABLE 20              KEY BUYING CRITERIA FOR TOP THREE END USERS   89

TABLE 21              US-ADJUSTED RECIPROCAL TARIFF RATES                 92

TABLE 22              EXPECTED CHANGE IN PRICES AND LIKELY IMPACT ON END-USE APPLICATIONS DUE TO TARIFF   94

TABLE 23              POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2024 (USD MILLION)          99

TABLE 24              POWER TRANSFORMER MARKET, BY POWER RATING, 2025–2030 (USD MILLION)          100

TABLE 25             UP TO 60 MVA: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            100

TABLE 26             UP TO 60 MVA: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            101

TABLE 27              61–600 MVA: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            102

TABLE 28              61–600 MVA: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            102

TABLE 29              ABOVE 600 MVA: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            103

TABLE 30              ABOVE 600 MVA: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            103

TABLE 31              POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2024 (USD MILLION)                106

TABLE 32              POWER TRANSFORMER MARKET, BY COOLING TYPE, 2025–2030 (USD MILLION)                106

TABLE 33              OIL-COOLED: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            107

TABLE 34              OIL-COOLED: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            107

TABLE 35              AIR-COOLED: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            108

TABLE 36              AIR-COOLED: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            108

TABLE 37              POWER TRANSFORMER MARKET, BY PHASE, 2020–2024 (USD MILLION)            110

TABLE 38              POWER TRANSFORMER MARKET, BY PHASE, 2025–2030 (USD MILLION)            111

TABLE 39              SINGLE-PHASE: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            112

TABLE 40              SINGLE-PHASE: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            112

TABLE 41              THREE-PHASE: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            113

TABLE 42              THREE-PHASE: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            113

TABLE 43              POWER TRANSFORMER MARKET, BY END USER, 2020–2024 (USD MILLION)            116

TABLE 44              POWER TRANSFORMER MARKET, BY END USER, 2025–2030 (USD MILLION)            116

TABLE 45              UTILITIES: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            117

TABLE 46              UTILITIES: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            117

TABLE 47              RESIDENTIAL & COMMERCIAL: POWER TRANSFORMER MARKET, BY REGION, 2020–2024 (USD MILLION)                 119

TABLE 48              RESIDENTIAL & COMMERCIAL: POWER TRANSFORMER MARKET, BY REGION, 2025–2030 (USD MILLION)                 119

TABLE 49              INDUSTRIAL: POWER TRANSFORMER MARKET, BY REGION,

2020–2024 (USD MILLION)            120

TABLE 50              INDUSTRIAL: POWER TRANSFORMER MARKET, BY REGION,

2025–2030 (USD MILLION)            120

TABLE 51              INDUSTRIAL: POWER TRANSFORMER MARKET, BY INDUSTRY,

2020–2024 (USD MILLION)            121

TABLE 52              INDUSTRIAL: POWER TRANSFORMER MARKET, BY INDUSTRY,

2025–2030 (USD MILLION)            121

TABLE 53              POWER TRANSFORMER MARKET, BY REGION, 2020–2024 (USD MILLION)            128

TABLE 54              POWER TRANSFORMER MARKET, BY REGION, 2025–2030 (USD MILLION)            128

TABLE 55              POWER TRANSFORMER MARKET, BY REGION, 2020–2024 (UNITS)            129

TABLE 56              POWER TRANSFORMER MARKET, BY REGION, 2025–2030 (UNITS)            129

TABLE 57              NORTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            130

TABLE 58              NORTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            130

TABLE 59              NORTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE,

2020–2024 (USD MILLION)            130

TABLE 60              NORTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE,

2025–2030 (USD MILLION)            131

TABLE 61              NORTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE,

2020–2024 (USD MILLION)            131

TABLE 62              NORTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE,

2025–2030 (USD MILLION)            131

TABLE 63              NORTH AMERICA: POWER TRANSFORMER MARKET, BY END USER,

2020–2024 (USD MILLION)            131

TABLE 64              NORTH AMERICA: POWER TRANSFORMER MARKET, BY END USER,

2025–2030 (USD MILLION)            132

TABLE 65              NORTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            132

TABLE 66              NORTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            132

TABLE 67              US: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            133

TABLE 68              US: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            133

TABLE 69              CANADA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)          135

TABLE 70              CANADA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            135

TABLE 71              MEXICO: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            136

TABLE 72              MEXICO: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            136

TABLE 73              EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            138

TABLE 74              EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            138

TABLE 75              EUROPE: POWER TRANSFORMER MARKET, BY PHASE, 2020–2024 (USD MILLION)             138

TABLE 76              EUROPE: POWER TRANSFORMER MARKET, BY PHASE, 2025–2030 (USD MILLION)             138

TABLE 77              EUROPE: POWER TRANSFORMER MARKET, BY COOLING TYPE,

2020–2024 (USD MILLION)            139

TABLE 78              EUROPE: POWER TRANSFORMER MARKET, BY COOLING TYPE,

2025–2030 (USD MILLION)            139

TABLE 79              EUROPE: POWER TRANSFORMER MARKET, BY END USER,

2020–2024 (USD MILLION)            139

TABLE 80              EUROPE: POWER TRANSFORMER MARKET, BY END USER,

2025–2030 (USD MILLION)            139

TABLE 81              EUROPE: POWER TRANSFORMER MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            140

TABLE 82              EUROPE: POWER TRANSFORMER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            140

TABLE 83              GERMANY: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            141

TABLE 84              GERMANY: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            141

TABLE 85              UK: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            142

TABLE 86              UK: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            143

TABLE 87              ITALY: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            144

TABLE 88              ITALY: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            144

TABLE 89              FRANCE: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            145

TABLE 90              FRANCE: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            145

TABLE 91              SPAIN: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            146

TABLE 92              SPAIN: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            146

TABLE 93              REST OF EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            147

TABLE 94              REST OF EUROPE: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            148

TABLE 95              ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            149

TABLE 96              ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            150

TABLE 97              ASIA PACIFIC: POWER TRANSFORMER MARKET, BY PHASE,

2020–2024 (USD MILLION)            150

TABLE 98              ASIA PACIFIC: POWER TRANSFORMER MARKET, BY PHASE,

2025–2030 (USD MILLION)            150

TABLE 99              ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COOLING TYPE,

2020–2024 (USD MILLION)            150

TABLE 100            ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COOLING TYPE,

2025–2030 (USD MILLION)            151

TABLE 101            ASIA PACIFIC: POWER TRANSFORMER MARKET, BY END USER,

2020–2024 (USD MILLION)            151

TABLE 102            ASIA PACIFIC: POWER TRANSFORMER MARKET, BY END USER,

2025–2030 (USD MILLION)            151

TABLE 103            ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            152

TABLE 104            ASIA PACIFIC: POWER TRANSFORMER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            152

TABLE 105            CHINA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            153

TABLE 106            CHINA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            153

TABLE 107            INDIA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            155

TABLE 108            INDIA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            155

TABLE 109            JAPAN: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            156

TABLE 110            JAPAN: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)          156

TABLE 111            SOUTH KOREA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            157

TABLE 112            SOUTH KOREA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            157

TABLE 113            AUSTRALIA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            158

TABLE 114            AUSTRALIA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            158

TABLE 115            REST OF ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING 2020–2024 (USD MILLION)                 159

TABLE 116            REST OF ASIA PACIFIC: POWER TRANSFORMER MARKET, BY POWER RATING, 2025–2030 (USD MILLION)                 160

TABLE 117            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2024 (USD MILLION)            161

TABLE 118            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2025–2030 (USD MILLION)            161

TABLE 119            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY PHASE,

2020–2024 (USD MILLION)            161

TABLE 120            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY PHASE,

2025–2030 (USD MILLION)          161

TABLE 121            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2020–2024 (USD MILLION)            162

TABLE 122            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COOLING TYPE, 2025–2030 (USD MILLION)            162

TABLE 123            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY END USER,

2020–2024 (USD MILLION)            162

TABLE 124            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY END USER,

2025–2030 (USD MILLION)            162

TABLE 125            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            163

TABLE 126            MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            163

TABLE 127            GCC: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            164

TABLE 128            GCC: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            164

TABLE 129            GCC: POWER TRANSFORMER MARKET, BY COUNTRY, 2020–2024 (USD MILLION)     164

TABLE 130            GCC: POWER TRANSFORMER MARKET, BY COUNTRY, 2025–2030 (USD MILLION)     165

TABLE 131            SAUDI ARABIA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            166

TABLE 132            SAUDI ARABIA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            166

TABLE 133            UAE: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            167

TABLE 134            UAE: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            167

TABLE 135            REST OF GCC COUNTRIES: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2024 (USD MILLION)            168

TABLE 136            REST OF GCC COUNTRIES: POWER TRANSFORMER MARKET, BY POWER RATING, 2025–2030 (USD MILLION)            169

TABLE 137            SOUTH AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            170

TABLE 138            SOUTH AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            170

TABLE 139            REST OF MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2024 (USD MILLION)            171

TABLE 140            REST OF MIDDLE EAST & AFRICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2025–2030 (USD MILLION)            171

TABLE 141            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            172

TABLE 142            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            173

TABLE 143            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE,

2020–2024 (USD MILLION)            173

TABLE 144            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY PHASE,

2025–2030 (USD MILLION)            173

TABLE 145            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE,

2020–2024 (USD MILLION)            173

TABLE 146            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COOLING TYPE,

2025–2030 (USD MILLION)            174

TABLE 147            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY END USER,

2020–2024 (USD MILLION)            174

TABLE 148            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY END USER,

2025–2030 (USD MILLION)            174

TABLE 149            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY,

2020–2024 (USD MILLION)            174

TABLE 150            SOUTH AMERICA: POWER TRANSFORMER MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            175

TABLE 151            BRAZIL: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            176

TABLE 152            BRAZIL: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            176

TABLE 153            ARGENTINA: POWER TRANSFORMER MARKET, BY POWER RATING,

2020–2024 (USD MILLION)            177

TABLE 154            ARGENTINA: POWER TRANSFORMER MARKET, BY POWER RATING,

2025–2030 (USD MILLION)            177

TABLE 155            REST OF SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2020–2024 (USD MILLION)            178

TABLE 156            REST OF SOUTH AMERICA: POWER TRANSFORMER MARKET, BY POWER RATING, 2025–2030 (USD MILLION)            178

TABLE 157            POWER TRANSFORMER MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS, JANUARY 2022– JULY 2025        179

TABLE 158            POWER TRANSFORMER MARKET: DEGREE OF COMPETITION, 2024       182

TABLE 159            POWER TRANSFORMER MARKET: REGION FOOTPRINT       192

TABLE 160            POWER TRANSFORMER MARKET: PHASE FOOTPRINT       193

TABLE 161            POWER TRANSFORMER MARKET: POWER RATING FOOTPRINT      194

TABLE 162            POWER TRANSFORMER MARKET: COOLING TYPE FOOTPRINT            195

TABLE 163            POWER TRANSFORMER MARKET: END USER FOOTPRINT       196

TABLE 164            POWER TRANSFORMER MARKET: DETAILED LIST OF KEY STARTUPS/SMES   199

TABLE 165            POWER TRANSFORMER MARKET: COMPETITIVE BENCHMARKING OF

KEY STARTUPS/SMES    199

TABLE 166            POWER TRANSFORMER MARKET: PRODUCT LAUNCHES,

JANUARY 2022–JULY 2025               200

TABLE 167            POWER TRANSFORMER MARKET: DEALS, JANUARY 2022–JULY 2025               202

TABLE 168            POWER TRANSFORMER MARKET: EXPANSIONS, JANUARY 2022–JULY 2025               205

TABLE 169            POWER TRANSFORMER MARKET: OTHER DEVELOPMENTS,

JANUARY 2022–JULY 2025               207

TABLE 170            SIEMENS ENERGY: COMPANY OVERVIEW                 213

TABLE 171            SIEMENS ENERGY: PRODUCTS/SERVICES/SOLUTIONS OFFERED    214

TABLE 172            SIEMENS ENERGY: PRODUCT LAUNCHES                 215

TABLE 173            SIEMENS ENERGY: DEALS             215

TABLE 174            SIEMENS ENERGY: EXPANSIONS                216

TABLE 175            SIEMENS ENERGY: OTHER DEVELOPMENTS                 216

TABLE 176            HITACHI ENERGY LTD.: COMPANY OVERVIEW                 218

TABLE 177            HITACHI ENERGY LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    219

TABLE 178            HITACHI ENERGY LTD.: PRODUCT LAUNCHES                 220

TABLE 179            HITACHI ENERGY LTD.: DEALS 221

TABLE 180            HITACHI ENERGY LTD.: EXPANSIONS    222

TABLE 181            HITACHI ENERGY LTD.: OTHER DEVELOPMENTS              223

TABLE 182            TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: COMPANY OVERVIEW 226

TABLE 183            TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED                 227

TABLE 184            TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: OTHER DEVELOPMENTS            228

TABLE 185            HD HYUNDAI ELECTRIC CO., LTD.: COMPANY OVERVIEW          230

TABLE 186            HD HYUNDAI ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    231

TABLE 187            HD HYUNDAI ELECTRIC CO., LTD.: OTHER DEVELOPMENTS              232

TABLE 188            GE VERNOVA: COMPANY OVERVIEW      235

TABLE 189            GE VERNOVA: PRODUCTS/SERVICES/SOLUTIONS OFFERED    236

TABLE 190            GE VERNOVA: PRODUCT LAUNCHES      237

TABLE 191            GE VERNOVA: DEALS     238

TABLE 192            GE VERNOVA: EXPANSIONS        239

TABLE 193            GE VERNOVA: OTHER DEVELOPMENTS                 239

TABLE 194            SCHNEIDER ELECTRIC: COMPANY OVERVIEW                 242

TABLE 195            CHNEIDER ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED    243

TABLE 196            SCHNEIDER ELECTRIC: PRODUCT LAUNCHES                 244

TABLE 197            SCHNEIDER ELECTRIC: DEALS  244

TABLE 198            SCHNEIDER ELECTRIC: EXPANSIONS     245

TABLE 199            SCHNEIDER ELECTRIC: OTHER DEVELOPMENTS              246

TABLE 200            CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW   248

TABLE 201            CG POWER AND INDUSTRIAL SOLUTIONS LTD.:

PRODUCTS/SERVICES/SOLUTIONS OFFERED    249

TABLE 202            CG POWER & INDUSTRIAL SOLUTIONS LTD.: DEALS  250

TABLE 203            CG POWER & INDUSTRIAL SOLUTIONS LTD.: EXPANSIONS     251

TABLE 204            CG POWER & INDUSTRIAL SOLUTIONS LTD.: OTHER DEVELOPMENTS              252

TABLE 205            MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW   253

TABLE 206            MITSUBISHI ELECTRIC CORPORATION:

PRODUCTS/SERVICES/SOLUTIONS OFFERED    254

TABLE 207            MITSUBISHI ELECTRIC CORPORATION: DEALS                 255

TABLE 208            MITSUBISHI ELECTRIC CORPORATION: OTHER DEVELOPMENTS              255

TABLE 209            HYUSONG HEAVY INDUSTRIES: COMPANY OVERVIEW          256

TABLE 210            HYOSUNG HEAVY INDUSTRIES: PRODUCTS/SERVICES/SOLUTIONS OFFERED    257

TABLE 211            HYUSONG HEAVY INDUSTRIES: EXPANSIONS                 258

TABLE 212            HYOSUNG HEAVY INDUSTRIES: OTHER DEVELOPMENTS              259

TABLE 213            BHARAT HEAVY ELECTRICALS LIMITED: COMPANY OVERVIEW   260

TABLE 214            BHARAT HEAVY ELECTRICALS LIMITED:

PRODUCTS/SERVICES/SOLUTIONS OFFERED    261

TABLE 215            BHARAT HEAVY ELECTRICALS LIMITED: PRODUCT LAUNCHES   262

TABLE 216            BHARAT HEAVY ELECTRICALS LIMITED: EXPANSIONS     262

TABLE 217            BHARAT HEAVY ELECTRICALS LIMITED: OTHER DEVELOPMENTS              263

TABLE 218            FUJI ELECTRIC CO., LTD.: COMPANY OVERVIEW                 264

TABLE 219            FUJI ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    265

TABLE 220            FUJI ELECTRIC CO., LTD.: OTHER DEVELOPMENTS              266

TABLE 221            SBG SMIT: COMPANY OVERVIEW              267

TABLE 222            SBG SMIT: PRODUCTS/SERVICES/SOLUTIONS OFFERED             267

TABLE 223            SGB SMIT: DEALS             268

TABLE 224            WEG: COMPANY OVERVIEW       269

TABLE 225            WEG: PRODUCTS/SERVICES/SOLUTIONS OFFERED             270

TABLE 226            WEG: DEALS       271

TABLE 227            WEG: EXPANSIONS          271

TABLE 228            WEG: OTHER DEVELOPMENTS 273

TABLE 229            TRANSFORMERS AND RECTIFIERS (INDIA) LIMITED: COMPANY OVERVIEW               274

TABLE 230            TRANSFORMERS AND RECTIFIERS (INDIA) LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED                 275

TABLE 231            NIAGARA POWER TRANSFORMER LLC: COMPANY OVERVIEW   276

TABLE 232            NIAGARA POWER TRANSFORMER LLC:

PRODUCTS/SERVICES/SOLUTIONS OFFERED    277

TABLE 233            LS ELECTRIC CO., LTD.: COMPANY OVERVIEW                 278

TABLE 234            LS ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    279

TABLE 235            LS ELECTRIC CO., LTD.: DEALS 280

TABLE 236            LS ELECTRIC CO., LTD.: EXPANSIONS    280

TABLE 237            LS ELECTRIC CO., LTD.: OTHER DEVELOPMENTS              281

TABLE 238            HAMMOND POWER SOLUTIONS: COMPANY OVERVIEW          282

TABLE 239            HAMMOND POWER SOLUTIONS: PRODUCTS/SERVICES/SOLUTIONS OFFERED    283

TABLE 240            DAELIM TRANSFORMER: COMPANY OVERVIEW                 284

TABLE 241            DAELIM TRANSFORMER: PRODUCTS/SERVICES/SOLUTIONS OFFERED    284

TABLE 242            BEST TRANSFORMER: COMPANY OVERVIEW                 286

TABLE 243            BEST TRANSFORMER: PRODUCTS/SOLUTIONS/SERVICES OFFERED    286

TABLE 244            WILSON POWER SOLUTIONS LTD.: COMPANY OVERVIEW          288

TABLE 245            WILSON POWER SOLUTIONS LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED    288

TABLE 246            WILSON POWER SOLUTIONS LTD.: OTHER DEVELOPMENTS              289

LIST OF FIGURES

FIGURE 1              POWER TRANSFORMER MARKET SEGMENTATION              26

FIGURE 2              POWER TRANSFORMER MARKET: RESEARCH DESIGN                30

FIGURE 3              KEY METRICS CONSIDERED TO ANALYZE DEMAND FOR POWER TRANSFORMERS 34

FIGURE 4              POWER TRANSFORMER MARKET: BOTTOM-UP APPROACH         35

FIGURE 5              POWER TRANSFORMER MARKET: TOP-DOWN APPROACH         37

FIGURE 6              KEY STEPS CONSIDERED TO ASSESS POWER TRANSFORMER SUPPLY                38

FIGURE 7              POWER TRANSFORMER MARKET: SUPPLY-SIDE ANALYSIS            39

FIGURE 8              POWER TRANSFORMER MARKET: DATA TRIANGULATION             40

FIGURE 9              ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE OF GLOBAL POWER TRANSFORMER MARKET IN 2024                 43

FIGURE 10            61–600 MVA SEGMENT TO ACCOUNT FOR LARGEST SHARE OF POWER TRANSFORMER MARKET IN 2025                 44

FIGURE 11            THREE-PHASE SEGMENT TO DOMINATE POWER TRANSFORMER

MARKET FROM 2025 TO 2030       44

FIGURE 12            OIL-COOLED SEGMENT TO ACCOUNT FOR LARGER SHARE OF POWER TRANSFORMER MARKET IN 2030                 45

FIGURE 13            UTILITIES TO BE LARGEST END USER OF POWER TRANSFORMER DURING FORECAST PERIOD      45

FIGURE 14            INCREASING POWER DEMAND DUE TO RAPID URBANIZATION FUELING MARKET GROWTH     46

FIGURE 15            ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN POWER TRANSFORMER MARKET DURING FORECAST PERIOD                 47

FIGURE 16            CHINA ACCOUNTED FOR LARGEST SHARE OF POWER TRANSFORMER MARKET IN ASIA PACIFIC            48

FIGURE 17            61–600 MVA SEGMENT TO ACCOUNT FOR LARGEST SHARE OF POWER TRANSFORMER MARKET IN 2030                 48

FIGURE 18            THREE-PHASE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2030               49

FIGURE 19            OIL-COOLED SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD   49

FIGURE 20            UTILITIES TO ACCOUNT FOR LARGEST MARKET SHARE IN 2030 49

FIGURE 21            POWER TRANSFORMER MARKET: DRIVERS, RESTRAINTS,

OPPORTUNITIES, AND CHALLENGES     51

FIGURE 22            ELECTRICITY DEMAND, BY REGION, 2019–2025                 52

FIGURE 23            GLOBAL INVESTMENT IN CLEAN ENERGY AND FOSSIL FUELS, 2015–2025               53

FIGURE 24            GLOBAL INVESTMENTS IN GRIDS & STORAGE, 2015–2025              57

FIGURE 25            POWER TRANSFORMER MARKET: PORTER’S FIVE FORCES ANALYSIS 59

FIGURE 26            SUPPLY CHAIN ANALYSIS             62

FIGURE 27            POWER TRANSFORMER MARKET: ECOSYSTEM ANALYSIS            66

FIGURE 28            POWER TRANSFORMER MARKET: PATENTS GRANTED AND APPLIED, 2014–2024         68

FIGURE 29            IMPORT SCENARIO FOR HS CODE 850423-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      74

FIGURE 30            IMPORT SCENARIO FOR HS CODE 850434-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      75

FIGURE 31            EXPORT SCENARIO FOR HS CODE 850423-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      77

FIGURE 32            EXPORT SCENARIO FOR HS CODE 850434-COMPLIANT PRODUCTS, BY COUNTRY, 2022–2024 (USD THOUSAND)      78

FIGURE 33            AVERAGE SELLING PRICE TREND, BY REGION, 2020–2024              79

FIGURE 34            INVESTMENT AND FUNDING SCENARIO                 80

FIGURE 35            TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS   88

FIGURE 36            INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS

FOR TOP THREE END USERS      88

FIGURE 37            KEY BUYING CRITERIA FOR TOP THREE END USERS   89

FIGURE 38            IMPACT OF GEN AI/AI ON POWER TRANSFORMER MARKET, BY REGION    91

FIGURE 39            POWER TRANSFORMER MARKET SHARE, BY POWER RATING, 2024     99

FIGURE 40            OIL-COOLED SEGMENT ACCOUNTED FOR LARGER SHARE OF POWER TRANSFORMER MARKET IN 2024                 105

FIGURE 41            POWER TRANSFORMER MARKET SHARE, BY PHASE, 2024        110

FIGURE 42            POWER TRANSFORMER MARKET SHARE, BY END USER, 2024 115

FIGURE 43            POWER TRANSFORMER MARKET SHARE, BY REGION, 2024     127

FIGURE 44            ASIA PACIFIC TO REGISTER HIGHEST CAGR IN POWER TRANSFORMER MARKET FROM 2025 TO 2030      128

FIGURE 45            EUROPE: POWER TRANSFORMER MARKET SNAPSHOT          137

FIGURE 46            ASIA PACIFIC: POWER TRANSFORMER MARKET SNAPSHOT          149

FIGURE 47            POWER TRANSFORMER MARKET SHARE ANALYSIS, 2024  183

FIGURE 48            REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2020–2024              186

FIGURE 49            COMPANY VALUATION 187

FIGURE 50            FINANCIAL METRICS      187

FIGURE 51            BRAND/PRODUCT COMPARISON             188

FIGURE 52            POWER TRANSFORMER MARKET:

COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024  190

FIGURE 53            POWER TRANSFORMER MARKET: COMPANY FOOTPRINT       191

FIGURE 54            POWER TRANSFORMER MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024 198

FIGURE 55            SIEMENS ENERGY: COMPANY SNAPSHOT                 214

FIGURE 56            HITACHI ENERGY LTD.: COMPANY SNAPSHOT                 219

FIGURE 57            TOSHIBA ENERGY SYSTEMS & SOLUTIONS CORPORATION: COMPANY SNAPSHOT 227

FIGURE 58            HD HYUNDAI ELECTRIC CO., LTD.: COMPANY SNAPSHOT          231

FIGURE 59            GE VERNOVA: COMPANY SNAPSHOT     236

FIGURE 60            SCHNEIDER ELECTRIC: COMPANY SNAPSHOT                 243

FIGURE 61            CG POWER AND INDUSTRIAL SOLUTIONS LTD.: COMPANY SNAPSHOT   249

FIGURE 62            MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT   254

FIGURE 63            HYOSUNG HEAVY INDUSTRIES: COMPANY SNAPSHOT          257

FIGURE 64            BHARAT HEAVY ELECTRICALS LIMITED: COMPANY SNAPSHOT   261

FIGURE 65            FUJI ELECTRIC CO., LTD.: COMPANY SNAPSHOT                 265

FIGURE 66            WEG: COMPANY SNAPSHOT       270

FIGURE 67            TRANSFORMERS AND RECTIFIERS (INDIA) LIMITED: COMPANY SNAPSHOT               275

FIGURE 68            LS ELECTRIC CO., LTD.: COMPANY SNAPSHOT                 279

FIGURE 69            HAMMOND POWER SOLUTIONS: COMPANY SNAPSHOT          282