Global Transformer Market Size Analysis, 2019-2028

REPORT ID: BKR1016Domain: Power and EnergyPublished Date: February 2019
Pages: 250+Format: PDF

Global Transformer Market Size is estimated to be valued over USD 48.1 billion in 2019 and will register a CAGR of 4.7% during the forecast period 2019-2028. Transformer transfers electrical energy from one circuit to another by electromagnetic induction. The industry demand is increasing as a result of capacity addition and higher product replacement rate. As of 2018, the industry is substantially consolidated with top six players accounting for over 51% market share. ABB accounted for the largest transformer market share in 2018. These companies are emphasizing on product innovation and long term engagement with government bodies in order to stay agile. Merger and acquisition has also become critical to go-to-market strategy.

Global Transformer Market Value is expected to grow by 1.4X to generate high revenue opportunity for industry players. ABB is the market leader in transformer market. It has strong presence worldwide. In fact, over half of the market share is captured by top six players.

Transformer Industry Outlook

Another trend witnessed is system digitization to improve output efficiency. One such initiative was noticed in 2018 wherein ABB launched the world’s first digitally integrated power transformer in Germany. Also, a series of merger acquisition took place in last few years, showcasing aggressive marketing approach to generate higher ROI during the forecast period. In 2018, ABB acquired GE Industrial Solutions. This will help ABB to distribute dry type transformers in U.S. In 2017, Enel announced the acquisition of Celg Distribuição S.A. – a power distribution company that operates in Brazil. Acquisition will help Enel to capture growing market in Brazil.

Overall, the transformers are manufactured by leading players having production unit located in specified areas. They export to various regions either through own distribution networks or third party suppliers. Each transformer has its own specifications and varies according to the project demand. As such, costs incurred increases over time. Various geopolitical agreement and macroeconomic factors is also expected to create favorable demand. For instance, cross border power system installation will create significant demand for power transformers.

Global Transformer Market Outlook: Demand Supply Analysis

Demand for transformer is expected to rise due to higher influx of renewable energy and installation of upgraded equipment. The demand will continue to increase however, at relatively slower speed. Currently, many companies are running at 75%-80% capacity, which is lower than industry standard of 85%-90%. Delay in infrastructure projects has mostly impacted the installation. This will increase in period of time, with speedy infra-energy projects. At the same time, it will create high revenue opportunity to industry players.

Global Transformer Market Size and Forecast: By Product Type

In 2018, power transformers dominated the global transformer market share. Over 21 thousand power transformers were installed in 2018. This segment is substantially consolidated with limited number of players. Asia Pacific is the most lucrative region driving the overall demand for power transformers. Rising population and economic growth has created favorable business environment for players. On the other hand, distribution transformer is slightly fragmented. Low entry barriers in the distribution transformer market have led to entry of many unorganized players that compete on price.

Global Transformer Market Size and Forecast: By End-use

In 2018, majority of transformer were installed across residential and commercial places followed by industrial sector. Together, these end-use is estimated to account for 73.3% market share in 2019. Real estate is registering impressive growth post economic recession. Various government are taking concrete steps to boost construction. Smart city is one such concept, making all-rounds worldwide. Recently, the government of India proposed 100 new smart cities at a cost of US$ 2 Trillion. Advancement in the project will bring new revenue opportunity for allied industries including transformer manufacturers.

Global Transformer Market Size and Forecast: By Rating

Transformers with 61 to 600 MVA accounted for over 48% share in 2018. These are primarily used for industrial purpose and are integrated with large scale transmission lines. Rapid urbanization across developed economies accompanied by mass migration across urban areas positively influence the product penetration.

Global Transformer Market Size and Forecast: By Insulation

Oil insulated transformer is estimated to hold largest share in 2019. Oil insulated transformer are highly durable and reliable for large transformer. These are primarily deployed for 138 to 765 kV transformer.

Global Transformer Market Size and Forecast: By Mounting

Pad mounting based transformer is estimated to account for over 42% market share in 2019. These are oil filled units and are primarily used in outdoor installation. It is ideal for medium sized transformers of upto 40kV.  Rapid industrialization and urbanization are key factors driving the overall sales of pad mounted transformers.

Global Transformer Market Size and Forecast: Regional Analysis

Asia Pacific is estimated to account for over 37.3% share in 2019. Moreover, it will gain over 420 basis points to create substantially higher revenue opportunity for industry players. China, India and Japan collectively accounted for 84% regional share in 2018. However, ASEAN is also registering impressive growth. While some markets in Southeast Asia are experiencing slow growth, rising urbanization in Vietnam, Indonesia and Myanmar are keeping the transformer market afloat. Overall, China will dominate the transformer installation in Asia Pacific. China has dedicated special plans to enhance the inter-connected grid capacity in 11th and 12th five year plan. Regional players have substantially good market position in the country.

Global Transformer Market Size and Forecast: Competition Landscape

Some key Transformer players are:

  • ABB
  • GE
  • Eaton
  • Siemens
  • Hyundai Electric
  • Toshiba Corporation
  • BHEL
  • Daihen Corporation
  • Schneider Electric
  • Crompton Greaves
  • Mitsubishi Electric
  • Kirloskar Electric

Industry Segmentation

By Type:

  • Distribution Transformer
  • Power Transformer
  • Instrument Transformer
  • Others

By End-use:

  • Residential and Commercial
  • Utility
  • Industrial
  • Others

By Rating:

  • <10 MVA
  • 11-60 MVA
  • 61-600 MVA
  • >600 MVA

By Insulation:

  • Gas
  • Oil
  • Solid
  • Air
  • Others

By Mounting:

  • Pole
  • Pad
  • PCB
  • Others

By Phase:

  • Single Phase
  • Three Phase

By Winding:

  • Auto Transformer
  • Two Winding

By Installation:

  • Indoor
  • Outdoor

By Cooling:

  • Dry
  • Oil Immersed

What Will You Discover in the Report?

  • An in-depth analysis of the Transformer market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
  • How the Transformer market sales is expected to grow throughout the forecast period.
  • How geopolitical policies and technological changes will affect the Transformer market in near future
  • Where the stakeholders should invest to generate higher profit margins
  • How consumers (end-users) will reflect to the Transformer industry during the forecast period
  • Who are the Transformer industry leaders and what are the key initiatives taken by them for long term growth

Who will benefit from the Report?

  • Transformer Industry Suppliers
  • Transformer Industry Manufacturers
  • Consultants and Analysts
  • Researchers
  • Industry Specialists

Analyst access with Bekryl Market Analysts

Purchasing of Transformer market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions

Transformer Market Size TOC

  1. Report Structure
  2. Research Methodology
    • Market Engineering Factors Weightage
    • Market Share Methodology
  3. Executive Summary
    • Key Findings
    • Market Engineering Factors
    • Industry Expert Perspectives
  4. Market Definitions
  5. The Global Transformer Market Value
    • Overall Market Forecast
    • Transformer Growth Outlook, By Segments
    • Transformer Growth Scenario, by Region
  6. The Transformer Industry Ecosystem
    • Parent Market Overview
    • Industry Value Chain and Distribution Analysis
    • Growth Factor Analysis
    • Key Industry Players By Region
  7. The Transformer Industry Dynamics
    • Drivers
    • Challenges
    • Opportunities
    • Mega Trends
    • Geographical Trends
    • Industry Experts Views
    • Merger Acquisition
    • Regulatory Compliances, By Selected Countries
    • Key Industry Developments
  8. The Transformer Market Pricing Analysis
    • Transformer Product Pricing Forecast
    • Pricing Analysis By Region
    • Pricing Trends
  9. Global Transformer Industry Value and Volume Forecast
    • Introduction
    • Industry Initiatives
    • Industry Predictive Analysis
    • Transformer Industry Segment Comparative Ranking Analysis
    • Key Companies Involved and Initiatives
    • Global Industry Opportunity Proposition Analysis
    • Market Share Analysis, (%)
    • Global Transformer Market Size and Forecast, (2017-2028)
      • Market Value Forecast (US$ Million)
      • Market Volume
      • Growth Analysis (Y-o-Y) and Forecast
  1. Global Transformer Industry Size and Forecast, By Segments

By Type:

  • Distribution Transformer
  • Power Transformer
  • Instrument Transformer
  • Others

By End-use:

  • Residential and Commercial
  • Utility
  • Industrial
  • Others

By Rating:

  • <10 MVA
  • 11-60 MVA
  • 61-600 MVA
  • >600 MVA

By Insulation:

  • Gas
  • Oil
  • Solid
  • Air
  • Others

By Mounting:

  • Pole
  • Pad
  • PCB
  • Others

By Phase:

  • Single Phase
  • Three Phase

By Winding:

  • Auto Transformer
  • Two Winding

By Installation:

  • Indoor
  • Outdoor

By Cooling:

  • Dry
  • Oil Immersed
  1. North America Industry Value and Volume Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis
    • North America Transformer Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • North America Transformer Market, By Segments (As mentioned in section 10 of TOC)
    • US Transformer Market Size and Forecast, By Segments
    • Canada Transformer Market Size and Forecast, By Segments
  2. Latin America Transformer Industry Value and Volume Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Latin America (South America) Transformer Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • Latin America Transformer Market, By Segments (As mentioned in section 10 of TOC)
    • Brazil Transformer Market Size and Forecast, By Segments
    • Argentina
    • Mexico
    • Rest of Latin America

(Transformer industry analysis covered across Latin America countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Western Europe Transformer Industry Value and Volume Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Western Europe Transformer Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Western Europe Transformer Market, By Segments (As mentioned in section 10 of TOC)
    • Germany Transformer Market Size and Forecast, By Segments
    • UK
    • France
    • Spain
    • Italy
    • NORDIC
    • Switzerland
    • Rest of Western Europe

(Transformer industry analysis covered across Western Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Central and Eastern Europe (CEE) Transformer Industry Value and Volume Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Central and Eastern Europe Transformer Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Central and Eastern Europe Transformer Market, By Segments (As mentioned in section 10 of Transformer Market TOC)
    • Russia Transformer Market Size and Forecast, By Segments
    • Poland
    • Ukraine
    • Rest of CEE

(Transformer industry analysis is covered across Central and Eastern Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Asia Pacific Transformer Industry Value and Volume Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Asia Pacific Countries
    • Asia Pacific Transformer Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Asia Pacific Transformer Market, By Segments (As mentioned in section 10 of TOC)
    • Japan Transformer Market Size and Forecast, By Segments
    • China
    • India
    • South Korea
    • Australia
    • ASEAN
    • Rest of Asia Pacific

(Transformer industry analysis is covered across Asia Pacific countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Middle East Transformer Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Middle East Countries
    • Middle East Transformer Market Analysis
      • Industry Size and Forecast, (2017-2028)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Middle East Transformer Market, By Segments (As mentioned in section 10 of TOC)
    • GCC Transformer Market Size and Forecast, By Segments
    • Israel
    • Rest of Middle East

(Transformer industry analysis is covered across Middle East countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Africa Transformer Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Africa Countries
    • Market Share Analysis, (%)
    • Africa Transformer Industry Size and Forecast, (2017-2028)
    • Africa Transformer Industry Share (%)
    • Africa Transformer Industry Growth Forecast (%)
    • South Africa Transformer Market Size and Forecast, By Segments
    • Algeria
    • Nigeria

(Transformer industry analysis is covered across Africa countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Transformer Market Competitive Landscape
    • Competition Dashboard
    • Funding and Investment
    • Company Market Positioning
    • Marketing Mix Strategies
    • Product Level Strategies
    • Go-to-Market Strategies
    • SWOT Analysis
    • Key Developments, By Companies
    • Company Profiles*
    • ABB
    • GE
    • Eaton
    • Siemens
    • Hyundai Electric
    • Toshiba Corporation
    • BHEL
    • Daihen Corporation
    • Schneider Electric
    • Crompton Greaves
    • Mitsubishi Electric
    • Kirloskar Electric
  2. Analyst Opinion
  3. Summary and Conclusion
  4. For more Information, Bekryl can help

*(SWOT, Key Developments, and Strategies are based on individual companies)

To access the detailed Transformer industry TOC and sample research pages, download sample.

Transformer Market Research Methodology

Bekryl Market Analysts has earned reputation within the market research and consulting industry for its ability to not only collect and reprint data but also its ability to build upon its extensive models and databases to provide meaningful forecasting and strategic planning services to clients.

Our research analyst and industry experts thoroughly investigates the industry by extensively interviewing the industry leaders and analyzing information from various secondary sources. The information collected is analyzed with the help of analytical tools to offer real time forecast solutions.

Transformer Market Growth Forecasting Methodology

In order to prepare historical data and analyze Transformer market forecast, Bekryl prepare data for product supply and actual demand from end-use consumers. Through this, we get to know actual demand for Transformer market globally. The data collection is done through secondary and primary market research and then a constructive model is developed.

  • Secondary market research involves data collection through various paid publications and government agencies. Various journals and pre-encrypt transcripts is decoded to get the real time data solutions
  • The data collected through secondary research is then validated with the industry experts to minimize the anomaly and reflect key stakeholders opinion in the report.

With the model constructed, the cluttered data collected through different sources is structured with the help of proprietary analytical tools – making us understand the variation happened in the current year compared to historical years. To forecast Transformer industry revenue, Bekryl Market Analysts takes in consideration the demand growth of the segments. Demand for the product is dependent on end-user spending which is a function of many factors: amongst them macroeconomic strength, price variation and other base factors.

The forecast methodology requires extensive data analysis across countries. Among all the factors, GVA and GDP output is considered as the first set of approximation. Bekryl Market Analysts has developed a demand driven model based on GDP across targeted countries.  Under this, co-relation is analyzed between product and GDP – resulting in a constant GDP-Product coefficient. Higher the coefficient- greater will be the growth rate. For instance, GDP-Product segment coefficient matrix of 3 denotes Transformer industry growth is nearly 3.5X to 5.5X higher than the relative GDP.

Besides GDP-Product Coefficient, Bekryl establishes following relation variation for higher predictive analysis.

  • Base Factors Growth Analysis
  • Price Variation Analysis
  • Potential Consumer Mapping

Transformer Industry Players: Competition Landscape Methodology

Bekryl maps key market players across regions. Financial ratios is taken in consideration along with regional presence and their value chain to understand the company market strength. Thereafter, investment proposition for each company is proposed which gives coefficient matrix value for the company. Industry experts is also reflected in company landscape.

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