The global transformers market size was USD 59 billion in 2023, calculated at USD 63.13 billion in 2024 and is expected to reach around USD 124.19 billion by 2034, expanding at a CAGR of 7% from 2024 to 2034.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Transformers Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Transformers Market, by Type, 2024-2034
8.1.1. Distribution Transformer
8.1.1.1. Market Revenue and Forecast (2021-2034)
8.1.2. Power Transformer
8.1.2.1. Market Revenue and Forecast (2021-2034)
8.1.3. Others
8.1.3.1. Market Revenue and Forecast (2021-2034)
9.1. Transformers Market, by Power Rating, 2024-2034
9.1.1. Small
9.1.1.1. Market Revenue and Forecast (2021-2034)
9.1.2. Medium
9.1.2.1. Market Revenue and Forecast (2021-2034)
9.1.3. Large
9.1.3.1. Market Revenue and Forecast (2021-2034)
10.1. Transformers Market, by Cooling Type, 2024-2034
10.1.1. Air Cooled
10.1.1.1. Market Revenue and Forecast (2021-2034)
10.1.2. Oil Cooled
10.1.2.1. Market Revenue and Forecast (2021-2034)
11.1. Transformers Market, by Insulation, 2024-2034
11.1.1. Dry
11.1.1.1. Market Revenue and Forecast (2021-2034)
11.1.2. Liquid Immersed
11.1.2.1. Market Revenue and Forecast (2021-2034)
12.1. Transformers Market, by Phase, 2024-2034
12.1.1. Three Phase
12.1.1.1. Market Revenue and Forecast (2021-2034)
12.1.2. Single Phase
12.1.2.1. Market Revenue and Forecast (2021-2034)
13.1. Transformers Market, by Application, 2024-2034
13.1.1. Utility
13.1.1.1. Market Revenue and Forecast (2021-2034)
13.1.2. Industrial
13.1.2.1. Market Revenue and Forecast (2021-2034)
13.1.3. Commercial and Residential
13.1.3.1. Market Revenue and Forecast (2021-2034)
14.1. North America
14.1.1. Market Revenue and Forecast, by Type (2021-2034)
14.1.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.1.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.1.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.1.5. Market Revenue and Forecast, by Phase (2021-2034)
14.1.6. Market Revenue and Forecast, by Application (2021-2034)
14.1.7. U.S.
14.1.7.1. Market Revenue and Forecast, by Type (2021-2034)
14.1.7.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.1.7.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.1.7.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.1.8. Market Revenue and Forecast, by Phase (2021-2034)
14.1.8.1. Market Revenue and Forecast, by Application (2021-2034)
14.1.9. Rest of North America
14.1.9.1. Market Revenue and Forecast, by Type (2021-2034)
14.1.9.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.1.9.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.1.9.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.1.10. Market Revenue and Forecast, by Phase (2021-2034)
14.1.11. Market Revenue and Forecast, by Application (2021-2034)
14.1.11.1.
14.2. Europe
14.2.1. Market Revenue and Forecast, by Type (2021-2034)
14.2.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.2.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.2.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.2.5. Market Revenue and Forecast, by Phase (2021-2034)
14.2.6. Market Revenue and Forecast, by Application (2021-2034)
14.2.7.
14.2.8. UK
14.2.8.1. Market Revenue and Forecast, by Type (2021-2034)
14.2.8.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.2.8.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.2.9. Market Revenue and Forecast, by Insulation (2021-2034)
14.2.10. Market Revenue and Forecast, by Phase (2021-2034)
14.2.10.1. Market Revenue and Forecast, by Application (2021-2034)
14.2.11. Germany
14.2.11.1. Market Revenue and Forecast, by Type (2021-2034)
14.2.11.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.2.11.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.2.12. Market Revenue and Forecast, by Insulation (2021-2034)
14.2.13. Market Revenue and Forecast, by Phase (2021-2034)
14.2.14. Market Revenue and Forecast, by Application (2021-2034)
14.2.14.1.
14.2.15. France
14.2.15.1. Market Revenue and Forecast, by Type (2021-2034)
14.2.15.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.2.15.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.2.15.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.2.16. Market Revenue and Forecast, by Phase (2021-2034)
14.2.16.1. Market Revenue and Forecast, by Application (2021-2034)
14.2.17. Rest of Europe
14.2.17.1. Market Revenue and Forecast, by Type (2021-2034)
14.2.17.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.2.17.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.2.17.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.2.18. Market Revenue and Forecast, by Phase (2021-2034)
14.2.18.1. Market Revenue and Forecast, by Application (2021-2034)
14.3. APAC
14.3.1. Market Revenue and Forecast, by Type (2021-2034)
14.3.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.3.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.3.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.3.5. Market Revenue and Forecast, by Phase (2021-2034)
14.3.6. Market Revenue and Forecast, by Application (2021-2034)
14.3.7. India
14.3.7.1. Market Revenue and Forecast, by Type (2021-2034)
14.3.7.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.3.7.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.3.7.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.3.8. Market Revenue and Forecast, by Phase (2021-2034)
14.3.9. Market Revenue and Forecast, by Application (2021-2034)
14.3.10. China
14.3.10.1. Market Revenue and Forecast, by Type (2021-2034)
14.3.10.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.3.10.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.3.10.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.3.11. Market Revenue and Forecast, by Phase (2021-2034)
14.3.11.1. Market Revenue and Forecast, by Application (2021-2034)
14.3.12. Japan
14.3.12.1. Market Revenue and Forecast, by Type (2021-2034)
14.3.12.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.3.12.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.3.12.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.3.12.5. Market Revenue and Forecast, by Phase (2021-2034)
14.3.12.6. Market Revenue and Forecast, by Application (2021-2034)
14.3.13. Rest of APAC
14.3.13.1. Market Revenue and Forecast, by Type (2021-2034)
14.3.13.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.3.13.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.3.13.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.3.13.5. Market Revenue and Forecast, by Phase (2021-2034)
14.3.13.6. Market Revenue and Forecast, by Application (2021-2034)
14.4. MEA
14.4.1. Market Revenue and Forecast, by Type (2021-2034)
14.4.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.4.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.4.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.4.5. Market Revenue and Forecast, by Phase (2021-2034)
14.4.6. Market Revenue and Forecast, by Application (2021-2034)
14.4.7. GCC
14.4.7.1. Market Revenue and Forecast, by Type (2021-2034)
14.4.7.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.4.7.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.4.7.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.4.8. Market Revenue and Forecast, by Phase (2021-2034)
14.4.9. Market Revenue and Forecast, by Application (2021-2034)
14.4.10. North Africa
14.4.10.1. Market Revenue and Forecast, by Type (2021-2034)
14.4.10.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.4.10.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.4.10.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.4.11. Market Revenue and Forecast, by Phase (2021-2034)
14.4.12. Market Revenue and Forecast, by Application (2021-2034)
14.4.13. South Africa
14.4.13.1. Market Revenue and Forecast, by Type (2021-2034)
14.4.13.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.4.13.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.4.13.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.4.13.5. Market Revenue and Forecast, by Phase (2021-2034)
14.4.13.6. Market Revenue and Forecast, by Application (2021-2034)
14.4.14. Rest of MEA
14.4.14.1. Market Revenue and Forecast, by Type (2021-2034)
14.4.14.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.4.14.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.4.14.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.4.14.5. Market Revenue and Forecast, by Phase (2021-2034)
14.4.14.6. Market Revenue and Forecast, by Application (2021-2034)
14.5. Latin America
14.5.1. Market Revenue and Forecast, by Type (2021-2034)
14.5.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.5.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.5.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.5.5. Market Revenue and Forecast, by Phase (2021-2034)
14.5.6. Market Revenue and Forecast, by Application (2021-2034)
14.5.7. Brazil
14.5.7.1. Market Revenue and Forecast, by Type (2021-2034)
14.5.7.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.5.7.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.5.7.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.5.8. Market Revenue and Forecast, by Phase (2021-2034)
14.5.8.1. Market Revenue and Forecast, by Application (2021-2034)
14.5.9. Rest of LATAM
14.5.9.1. Market Revenue and Forecast, by Type (2021-2034)
14.5.9.2. Market Revenue and Forecast, by Power Rating (2021-2034)
14.5.9.3. Market Revenue and Forecast, by Cooling Type (2021-2034)
14.5.9.4. Market Revenue and Forecast, by Insulation (2021-2034)
14.5.9.5. Market Revenue and Forecast, by Phase (2021-2034)
14.5.9.6. Market Revenue and Forecast, by Application (2021-2034)
15.1. Siemens Energy
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. Toshiba Corp.
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. Hyosung Power & Industrial Systems Performance Group
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. Crompton Greaves Ltd.
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. GE Co.
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. Hyundai Heavy Industries Co. Ltd.
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. ABB Ltd.
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. Mitsubishi Electric Corporation
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. Alstom SA
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. Bharat Heavy Electricals Limited
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
17.1. About Us
17.2. Glossary of Terms
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