Transformers Market Size, Share and Trends Analysis by Technology, Installed Capacity, Generation, Key Players and Forecast to 2030

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Published: March 27, 2025 Report Code: GDPE1103EMR-ST

Report Overview
Key Players
Table of Contents
Table
Figures

GlobalData's latest report "Transformers Market Size, Share and Trends Analysis by Technology, Installed Capacity, Generation, Key Players and Forecast, 2024-2030" offers in-depth analysis of the transformers market at global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, Brazil, China, India, Japan, Germany, the UK, and Saudi Arabia) levels.
The report analyzes the market value ($m) and market capacity (MVA) for the years of 2020-2030; split between the historical period (2020-2024) and forecast period (2025-2030) across all levels. The report covers country level transformers market overview, transmission network line lengths (Ckm) and substations (units), key policies and regulations, market drivers and restraints, and major upcoming substations projects are also presented. Profiles of major transformer manufacturers are also outlined in the report.
The report is built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by GlobalData's team of industry experts.

Scope

The report analyses the transformers market. Its scope includes –

• Analysis of the market growth at global and regional levels of Asia-Pacific, Americas, Europe, and Middle East and Africa.

• The report provides market analysis for the key countries of the US, Brazil, India, China, Japan, Germany, the UK, and Saudi Arabia.

• The report offers market size analysis (value and capacity) for the historical period (2020-2024) and forecast period (2025-2030).

• The report provides key market drivers and restraints, major upcoming substations, key policies as well as regulations at country level

• Profiles of major transformers manufacturers are also discussed.

Reasons to Buy

The report will enhance your decision-making capability in a more rapid and time sensitive manner. It will allow you to –

• Facilitate decision-making by analyzing market data on transformers

• Develop strategies based on developments in the market

• Identify key business-development avenues, based on an understanding of market trends

• Respond to your competitors’ business structure, strategies and prospects.

Hitachi Energy
GE Vernova
SPX Corp
Siemens Energy
Hyundai Electric
Howard Industries
Mitsubishi Electric Corp
WEG SA
Toshiba Corp
ABB Ltd
JSHP Transformer Co Ltd
TBEA Co Ltd
Voltamp Transformers
Schneider Electric SE
Toshiba India Pvt Ltd
CG Power and Industrial Solutions Limited
Bharat Heavy Electricals Ltd
Kirloskar Electric Company Ltd
Fuji Electric Co Ltd
Eaton Corporation
Hyosung Corp
SGB-SMIT Group
Alfanar Group

Table of Contents

About GlobalData

1 Executive Summary

1.1 China, The US, and India are the Leading Markets for Power Transformers

1.2 Global Distribution Transformers Market to Register $53.51 billion by 2030, led by Asia-Pacific

2 Introduction

2.1 Power Transformers

– Classification of Power Transformers

2.2 Distribution Transformers

2.3 Power Transformers, Global, Value-Chain Analysis

2.4 Transformers, GlobalData Report Guidance

3 Transformers, Global

3.1 Global, Market Overview

3.2 Transformers, Global, Market Size Analysis, 2020-2030

– Transformers, Global, Market Capacity, 2020-2030

– Transformers, Global, Market Value, 2020-2030

4 Transformers, Americas

4.1 Americas, Market Overview

4.2 Transformers, Americas, Market Size Analysis, 2020-2030

– Transformers, Americas, Market Capacity, 2020-2030

– Transformers, Americas, Market Value, 2020-2030

5 Transformers, The US

5.1 The US, Market Overview

5.2 The US, Key Policies and Regulations

– Glimpse of 2025 Budget

– Climate Goals in Federal Fiscal Year 2024 Budget

– Interconnection Standards

– Strategic Reserve Program for Large Power Transformers

– Transformer Resilience and Advanced Components (TRAC) Program

– DOE’s Energy Efficiency Standards and Requirements for Distribution Transformers

– FERC’s New Transmission and Cost Allocation Rule, Order No. 1920

5.3 Transformers, The US, Market Drivers and Restrains

– Transformers, The US, Market Drivers

– Transformers, The US, Market Restraints

5.4 Transformers, The US, Market Size Analysis, 2020-2030

– Transformers, The US, Market Capacity, 2020-2030

– Transformers, The US, Market Value, 2020-2030

5.5 Transformers, The US, Major Upcoming Substation Projects

6 Transformers, Brazil

6.1 Brazil, Market Overview

6.2 Brazil, Key Policies and Regulations

– National Energy Plan (NPE)

– Net Metering for Distributed Generation

– National Energy Transition Policy

– 10 Year Energy Expansion Plan, (PDE) 2034

– Transmission Auctions

6.3 Transformers, Brazil, Market Drivers and Restrains

– Transformers, Brazil, Market Drivers

– Transformers, Brazil, Market Restraints

6.4 Transformers, Brazil, Market Size Analysis, 2020-2030

– Transformers, Brazil, Market Capacity, 2020-2030

– Transformers, Brazil, Market Value, 2020-2030

6.5 Transformers, Brazil, Major Upcoming Substation Projects

7 Transformers, Asia-Pacific

7.1 Asia-Pacific, Market Overview

7.2 Transformers, Asia-Pacific, Market Size Analysis, 2020-2030

– Transformers, Asia-Pacific, Market Capacity, 2020-2030

– Transformers, Asia-Pacific, Market Value, 2020-2030

8 Transformers, China

8.1 China, Market Overview

8.2 China, Key Policies and Regulations

– Electricity Spot Market

– Unified National Power Market Framework

– Transmission and Distribution Tariff Reform

8.3 Transformers, China, Market Drivers and Restrains

– Transformers, China, Market Drivers

– Transformers, China, Market Restraints

8.4 Transformers, China, Market Size Analysis, 2020-2030

– Transformers, China, Market Capacity, 2020-2030

– Transformers, China, Market Value, 2020-2030

8.5 Transformers, China, Major Upcoming Substation Projects

9 Transformers, India

9.1 India, Market Overview

9.2 India, Key Policies and Regulations

– Union Budget Allocation 2023-2024

– Cross Border Power Trade Regulation

– Green Energy Corridor

– Interstate Transmission Network System (ISTS)-Connected Wind-Solar Hybrid Power Projects

– Extension on Waiver of Inter-State Transmission Charges

– National Electricity Plan (NEP, 2024)

9.3 Transformers, India, Market Drivers and Restrains

– Transformers, India, Market Drivers

– Transformers, India, Market Restraints

9.4 Transformers, India, Market Size Analysis, 2020-2030

– Transformers, India, Market Capacity, 2020-2030

– Transformers, India, Market Value, 2020-2030

9.5 Transformers, India, Major Upcoming Substation Projects

10 Transformers, Japan

10.1 Japan, Market Overview

10.2 Japan, Key Policies and Regulations

– Sixth Strategic Energy Plan, 2021

– Basic Energy Plan until 2030

– Grid-Connected Power Receiving Service Charges

10.3 Transformers, Japan, Market Drivers and Restrains

– Transformers, Japan, Market Drivers

– Transformers, Japan, Market Restrains

10.4 Transformers, Japan, Market Size Analysis, 2020-2030

– Transformers, Japan, Market Capacity, 2020-2030

– Transformers, Japan, Market Value, 2020-2030

10.5 Transformers, Japan, Major Upcoming Substation Projects

11 Transformers, EMEA

11.1 EMEA, Market Overview

11.2 Transformers, EMEA, Market Size Analysis, 2020-2030

– Transformers, EMEA, Market Capacity, 2020-2030

– Transformers, EMEA, Market Value, 2020-2030

12 Transformers, The UK

12.1 The UK, Market Overview

12.2 The UK, Key Policies and Regulations

– Review of Electricity Market Arrangements (REMA)

– Pathway to 2030

– Transmission Acceleration Action Plan (TAAP)

– Energy Act 2023

– Connections Action Plan (CAP)

– Competitively Appointed Transmission Owner (CATO)

12.3 Transformers, The UK, Market Drivers and Restrains

– Transformers, The UK, Market Drivers

– Transformers, The UK, Market Restrains

12.4 Transformers, The UK, Market Size Analysis, 2020-2030

– Transformers, UK, Market Capacity, 2020-2030

– Transformers, The UK, Market Value, 2020-2030

12.5 Transformers, The UK, Major Upcoming Substation Projects

13 Transformers, Germany

13.1 Germany, Market Overview

13.2 Germany, Key Policies and Regulations

– Electricity Network Development Plan (Netzentwicklungsplan – NEP) 2023 – 2037/2045

13.3 Transformers, Germany, Market Drivers and Restrains

– Transformers, Germany, Market Drivers

– Transformers, Germany, Market Restrains

13.4 Transformers, Germany, Market Size Analysis, 2020-2030

– Transformers, Germany, Market Capacity, 2020-2030

– Transformers, Germany, Market Value, 2020-2030

13.5 Transformers, Germany, Major Upcoming Substation Projects

14 Transformers, Saudi Arabia

14.1 Saudi Arabia, Market Overview

14.2 Saudi Arabia, Key Policies and Regulations

– Saudi Vision 2030 and National Renewable Energy Program (NREP)

14.3 Transformers, Saudi Arabia, Market Drivers and Restrains

– Transformers, Saudi Arabia, Market Drivers

– Transformers, Saudi Arabia, Market Restrains

14.4 Transformers, Saudi Arabia, Market Size Analysis, 2020-2030

– Transformers, Saudi Arabia, Market Capacity, 2020-2030

– Transformers, Saudi Arabia, Market Value, 2020-2030

14.5 Transformers, Saudi Arabia, Major Upcoming Substation Projects

15 Transformers, Major Company Profiles

15.1 Siemens Energy AG

15.2 Hitachi Energy Ltd

15.3 Schneider Electric SE

15.4 GE Vernova Inc

15.5 Eaton Corporation Plc

15.6 Mitsubishi Electric Corp

15.7 CG Power and Industrial Solutions Ltd

15.8 Toshiba Energy Systems and Solutions Corp

15.9 HD Hyundai Electric Co Ltd

15.10 TBEA Co Ltd

16 Appendix

16.1 Abbreviations

16.2 Bibliography

16.3 Research Methodology

– Power Transformers

– Distribution Transformers

16.4 Data Aggregation

– Primary Research

– Secondary Research

– Data Analysis and Findings

Table

Table 1: Power Transformers, Global, Market Capacity (GVA), 2020-2030

Table 2: Distribution Transformers, Global, Market Capacity (GVA), 2020-2030

Table 3: Power Transformers, Global, Market Value ($bn), 2020-2030

Table 4: Distribution Transformers, Global, Market Value ($bn), 2020-2030

Table 5: Power Transformers, Americas, Market Capacity (GVA), 2020-2030

Table 6: Distribution Transformers, Americas, Market Capacity (GVA), 2020-2030

Table 7: Power Transformers, Americas, Market Value ($bn), 2020-2030

Table 8: Distribution Transformers, Americas, Market Value ($bn), 2020-2030

Table 9: Transmission System Overview, The US, 2020-2030

Table 10: Distribution System Overview, The US, 2020-2030

Table 11: The US, TRAC Program Focus Areas, Technologies, and Objectives

Table 12: The US, Energy Standards for Distribution Transformers

Table 13: Power Transformers, The US, Market Capacity (MVA), 2020-2030

Table 14: Distribution Transformers, The US, Market Capacity (MVA), 2020-2030

Table 15: Power Transformers, The US, Market Value ($m), 2020-2030

Table 16: Distribution Transformers, The US, Market Value ($m), 2020-2030

Table 17: Transformers, The US, Major Upcoming Substation Projects

Table 18: Transmission System Overview, Brazil, 2020-2030

Table 19: Distribution System Overview, Brazil, 2020-2030

Table 20: Power Transformers, Brazil, Market Capacity (MVA), 2020-2030

Table 21: Distribution Transformers, Brazil, Market Capacity (MVA), 2020-2030

Table 22: Power Transformers, Brazil, Market Value ($m), 2020-2030

Table 23: Distribution Transformers, Brazil, Market Value ($m), 2020-2030

Table 24: Transformers, Brazil, Major Upcoming Substation Projects

Table 25: Power Transformers, Asia-Pacific, Market Capacity (GVA), 2020-2030

Table 26: Distribution Transformers, Asia-Pacific, Market Capacity (GVA), 2020-2030

Table 27: Power Transformers, Asia-Pacific, Market Value ($bn), 2020-2030

Table 28: Distribution Transformers, Asia-Pacific, Market Value ($bn), 2020-2030

Table 29: Transmission System Overview, China, 2020-2030

Table 30: Distribution System Overview, China, 2020-2030

Table 31: China, Pricing Cycles of Provincial Power Transmission and Distribution Tariffs

Table 32: Power Transformers, China, Market Capacity (MVA), 2020-2030

Table 33: Distribution Transformers, China, Market Capacity (MVA), 2020-2030

Table 34: Power Transformers, China, Market Value ($m), 2020-2030

Table 35: Distribution Transformers, China, Market Value ($m), 2020-2030

Table 36: Transformers, China, Major Upcoming Substation Projects

Table 37: Transmission System Overview, India, 2020-2030

Table 38: Distribution System Overview, India, 2020-2030

Table 39: Power Transformers, India, Market Capacity (MVA), 2020-2030

Table 40: Distribution Transformers, India, Market Capacity (MVA), 2020-2030

Table 41: Power Transformers, India, Market Value ($m), 2020-2030

Table 42: Distribution Transformers, India, Market Value ($m), 2020-2030

Table 43: Transformers, India, Major Upcoming Substation Projects

Table 44: Transmission System Overview, Japan, 2020-2030

Table 45: Distribution System Overview, Japan, 2020-2030

Table 46: Power Transformers, Japan, Market Capacity (MVA), 2020-2030

Table 47: Distribution Transformers, Japan, Market Capacity (MVA), 2020-2030

Table 48: Power Transformers, Japan, Market Value ($m), 2020-2030

Table 49: Distribution Transformers, Japan, Market Value ($m), 2020-2030

Table 50: Transformers, Japan, Major Upcoming Substation Projects

Table 51: Power Transformers, EMEA, Market Capacity (GVA), 2020-2030

Table 52: Distribution Transformers, EMEA, Market Capacity (GVA), 2020-2030

Table 53: Power Transformers, EMEA, Market Value ($bn), 2020-2030

Table 54: Distribution Transformers, EMEA, Market Value ($bn), 2020-2030

Table 55: Transmission System Overview, The UK, 2020-2030

Table 56: Distribution System Overview, The UK, 2020-2030

Table 57: Power Transformers, The UK, Market Capacity (MVA), 2020-2030

Table 58: Distribution Transformers, The UK, Market Capacity (MVA), 2020-2030

Table 59: Power Transformers, The UK, Market Value ($m), 2020-2030

Table 60: Distribution Transformers, The UK, Market Value ($m), 2020-2030

Table 61: Transformers, The UK, Major Upcoming Substation Projects

Table 62: Transmission System Overview, Germany, 2020-2030

Table 63: Distribution System Overview, Germany, 2020-2030

Table 64: Power Transformers, Germany, Market Capacity (MVA), 2020-2030

Table 65: Distribution Transformers, Germany, Market Capacity (MVA), 2020-2030

Table 66: Power Transformers, Germany, Market Value ($m), 2020-2030

Table 67: Distribution Transformers, Germany, Market Value ($m), 2020-2030

Table 68: Transformers, Germany, Major Upcoming Substation Projects

Table 69: Transmission System Overview, Saudi Arabia, 2020-2030

Table 70: Distribution System Overview, Saudi Arabia, 2020-2030

Table 71: Power Transformers, Saudi Arabia, Market Capacity (MVA), 2020-2030

Table 72: Distribution Transformers, Saudi Arabia, Market Capacity (MVA), 2020-2030

Table 73: Power Transformers, Saudi Arabia, Market Value ($m), 2020-2030

Table 74: Distribution Transformers, Saudi Arabia, Market Value ($m), 2020-2030

Table 75: Transformers, Saudi Arabia, Major Upcoming Substation Projects

Table 76: Siemens Energy AG

Table 77: Hitachi Energy Ltd

Table 78: Transformers, Schneider Electric SE

Table 79: General Electric Co

Table 80: Eaton Corporation Plc

Table 81: Mitsubishi Electric Corp

Table 82: CG Power and Industrial Solutions Ltd

Table 83: Toshiba Energy Systems and Solutions Corp

Table 84: HD Hyundai Electric Co Ltd

Table 85: TBEA Co Ltd

Table 86: Abbreviations

Table 87: Power Transformers, Conversion Factor

Figures

Figure 1: Power Transformers, Top Countries, Market Value ($m), 2024, 2030

Figure 2: Distribution Transformers, Global and Regional, Market Value ($bn), 2024 and 2030

Figure 3: Power Transformers, Global, Value-Chain Analysis

Figure 4: Power Transformers, Global, Market Capacity (GVA), 2020-2030

Figure 5: Distribution Transformers, Global, Market Capacity (GVA), 2020-2030

Figure 6: Power Transformers, Global, Market Value ($bn), 2020-2030

Figure 7: Distribution Transformers, Global, Market Value ($bn), 2020-2030

Figure 8: Power Transformers, Americas, Market Capacity (GVA), 2020-2030

Figure 9: Distribution Transformers, Americas, Market Capacity (GVA), 2020-2030

Figure 10: Power Transformers, Americas, Market Value ($bn), 2020-2030

Figure 11: Distribution Transformers, Americas, Market Value ($bn), 2020-2030

Figure 12: Transmission System Overview, The US, 2020-2030

Figure 13: Distribution System Overview, The US, 2020-2030

Figure 14: Power Transformers, The US, Market Capacity (MVA), 2020-2030

Figure 15: Distribution Transformers, The US, Market Capacity (MVA), 2020-2030

Figure 16: Power Transformers, The US, Market Value ($m), 2020-2030

Figure 17: Distribution Transformers, The US, Market Value ($m), 2020-2030

Figure 18: Transmission System Overview, Brazil, 2020-2030

Figure 19: Distribution System Overview, Brazil, 2020-2030

Figure 20: Power Transformers, Brazil, Market Capacity (MVA), 2020-2030

Figure 21: Distribution Transformers, Brazil, Market Capacity (MVA), 2020-2030

Figure 22: Power Transformers, Brazil, Market Value ($m), 2020-2030

Figure 23: Distribution Transformers, Brazil, Market Value ($m), 2020-2030

Figure 24: Power Transformers, Asia-Pacific, Market Capacity (GVA), 2020-2030

Figure 25: Distribution Transformers, Asia-Pacific, Market Capacity (GVA), 2020-2030

Figure 26: Power Transformers, Asia-Pacific, Market Value ($bn), 2020-2030

Figure 27: Distribution Transformers, Asia-Pacific, Market Value ($bn), 2020-2030

Figure 28: Transmission System Overview, China, 2020-2030

Figure 29: Distribution System Overview, China, 2020-2030

Figure 30: Power Transformers, China, Market Capacity (MVA), 2020-2030

Figure 31: Distribution Transformers, China, Market Capacity (MVA), 2020-2030

Figure 32: Power Transformers, China, Market Value ($m), 2020-2030

Figure 33: Distribution Transformers, China, Market Value ($m), 2020-2030

Figure 34: Transmission System Overview, India, 2020-2030

Figure 35: Distribution System Overview, India, 2020-2030

Figure 36: Power Transformers, India, Market Capacity (MVA), 2020-2030

Figure 37: Distribution Transformers, India, Market Capacity (MVA), 2020-2030

Figure 38: Power Transformers, India, Market Value ($m), 2020-2030

Figure 39: Distribution Transformers, India, Market Value ($m), 2020-2030

Figure 40: Transmission System Overview, Japan, 2020-2030

Figure 41: Distribution System Overview, Japan, 2020-2030

Figure 42: Power Transformers, Japan, Market Capacity (MVA), 2020-2030

Figure 43: Distribution Transformers, Japan, Market Capacity (MVA), 2020-2030

Figure 44: Power Transformers, Japan, Market Value ($m), 2020-2030

Figure 45: Distribution Transformers, Japan, Market Value ($m), 2020-2030

Figure 46: Power Transformers, EMEA, Market Capacity (GVA), 2020-2030

Figure 47: Distribution Transformers, EMEA, Market Capacity (GVA), 2020-2030

Figure 48: Power Transformers, EMEA, Market Value ($bn), 2020-2030

Figure 49: Distribution Transformers, EMEA, Market Value ($bn), 2020-2030

Figure 50: Transmission System Overview, The UK, 2020-2030

Figure 51: Distribution System Overview, The UK, 2020-2030

Figure 52: Power Transformers, The UK, Market Capacity (MVA), 2020-2030

Figure 53: Distribution Transformers, The UK, Market Capacity (MVA), 2020-2030

Figure 54: Power Transformers, The UK, Market Value ($m), 2020-2030

Figure 55: Distribution Transformers, The UK, Market Value ($m), 2020-2030

Figure 56: Transmission System Overview, Germany, 2020-2030

Figure 57: Distribution System Overview, Germany, 2020-2030

Figure 58: Power Transformers, Germany, Market Capacity (MVA), 2020-2030

Figure 59: Distribution Transformers, Germany, Market Capacity (MVA), 2020-2030

Figure 60: Power Transformers, Germany, Market Value ($m), 2020-2030

Figure 61: Distribution Transformers, Germany, Market Value ($m), 2020-2030

Figure 62: Transmission System Overview, Saudi Arabia, 2020-2030

Figure 63: Distribution System Overview, Saudi Arabia, 2020-2030

Figure 64: Power Transformers, Saudi Arabia, Market Capacity (MVA), 2020-2030

Figure 65: Distribution Transformers, Saudi Arabia, Market Capacity (MVA), 2020-2030

Figure 66: Power Transformers, Saudi Arabia, Market Value ($m), 2020-2030

Figure 67: Distribution Transformers, Saudi Arabia, Market Value ($m), 2020-2030

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