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 analyses 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.
The global transformers market is on a strong growth trajectory, projected to reach $89.34bn in 2030, driven by rising electricity demand, renewable integration, and grid modernisation. The Asia-Pacific (APAC) region is set to lead the charge with robust investments, while the Europe, Middle East, and Africa (EMEA) region is poised to grow fastest, fuelled by infrastructure upgrades and power sector reforms across developing economies in the Middle East and Africa.
The global market for power transformers is projected to reach $35.83bn, while the distribution transformers market is anticipated to attain $53.51bn in 2030. The APAC power transformers market is set to grow from $12.35bn in 2024 to $18.96bn in 2030. The region’s economic growth has driven commercial activity and spurred numerous nations to invest in large-scale development programs.
National electrification programs, expanding renewable energy portfolios, market reforms, and the substantial industrial bases in China and India are poised to contribute to the new infrastructure development, thereby bolstering the regional market. With the demand for power set to increase in the Middle East and Africa, the EMEA is estimated to be the fastest growing region, with a CAGR of 7.7%, over the forecast period.
Regarding the distribution transformers market, the APAC region is projected to be the largest, with an anticipated value of $32.51bn in 2030. The diverse market conditions within the EMEA region suggest that more established European markets, such as Germany and the UK, will prioritise the replacement of aging infrastructure to ensure continued reliability.
Conversely, countries in Africa and the Middle East are expected to demonstrate significant demand for distribution transformers, spurred by the ongoing power sector reforms. The growth in the EMEA is likely to be at a CAGR of 9.1% over the forecast period and the Americas market is estimated to grow at a CAGR of 6.9%. The global power transformers market is poised for growth, driven by the expansion of generation capacities, the realignment of power generation sources towards sustainability, and the burgeoning economies with underdeveloped power infrastructure.
The rise of distributed technologies further amplifies the demand for distribution transformers. To capitalise on these trends, manufacturers and stakeholders must focus on developing and deploying transformers that meet the evolving needs of the global power grid.
