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 billion in 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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