Summary

The North American power transformer market is a crucial component of the worldwide energy sector. The industry is seeing substantial expansion and transition because to the increased demand for power across numerous industries and the growing requirement for the integration of renewable energy sources. North America share more than 20% market share to the global transformer market. The majority of the electricity in North America is produced by fossil fuels. Along with this, nuclear energy and renewable energy sources supply a growing portion of the country's electricity. In order to carry electricity over long distances with the least amount of resistance and power loss, transformers are required because power generating often takes place far from demand centers. Transformers are required at both ends of the transmission network (i.e., transformers to step up to high-voltage at the start of the network and transformers to step down to low-voltage at the end of the network) in order to minimize power loss, which necessitates transmitting electricity at the highest voltage possible for long-distance transmission. To meet the unique electrical and environmental needs of commercial, industrial, and residential users, many different types of transformers are available. These transformers are distinguished by the voltage they help transport across the system. Due to the transition to sustainable energy, the replacement of outdated infrastructure, and the high demand for power, the transformer business, already worth several billion dollars, is anticipated to expand quickly.

According to the research report, “North America Transformers Market Outlook, 2028” published by Bonafide Research, the market was valued at more than USD 12.25 Billion market size in 2022. In North America the transformers demand drivers includes the extreme weather, natural disasters, and growing national security concerns have resulted in an increasing emphasis on transformers manufacturing with high durability, while customers express decreasing tolerance for outages, Increasing focus on the nation’s aging infrastructure, grid resiliency, and climate impact have inspired sweeping legislation and significant investment that are expected to drive both near- and long-term spending. As energy consumption rises, the demand for transformers naturally follows suit. Ongoing infrastructure development projects, including the expansion of urban areas and the construction of new industrial facilities, necessitate the installation of transformers to support electrical infrastructure growth. The increased need for transformers is a result of these developments. Technology for transformers is advancing quickly in order to increase efficiency and decrease energy losses. Utilities and businesses wishing to modernize their infrastructure and boost energy efficiency are drawn to these developments. This in turn increases the market's need for contemporary transformers in North America. Due to the pandemic, broken supply chains, and geopolitical unrest, both the public and commercial sectors are concentrating on reshoring domestic production; this is anticipated to result in higher energy demand and higher transformer investment.

On the basis of geography, the market is segmented into United States, Canada, and Mexico. United States being the leader, dominates the market with more than USD 10.21 Billion market size in 2022. Following it the Canada, the Canadian electricity industry plays a significant role in the country's energy landscape, and the generation of approximately 0.54 trillion kilowatt-hours (KWh) of electricity in 2022, as reported by the Canadian Electricity Association (CEA), reflects the nation's growing demand for electrical power. This increase in electricity generation naturally leads to a heightened reliance on transformers. The transformers market in Canada is experiencing significant expansion and growth and is anticipated to grow with more than 7.35% from 2023-2028. As Mexico continues to advance its energy sector, incorporating a diverse mix of energy sources, including fossil fuels; renewables, and natural gas, transformers have become even more indispensable. Many different transformer types exist to serve the specific power and environmental requirements of commercial, industrial, and residential users and are characterized by the voltage they help transmit throughout the grid. Additionally, efforts to modernize the electrical grid and enhance its reliability have created opportunities for advanced transformer technologies.

On the basis of Product type, the market is segmented into Distribution transformers, Power transformer, Instrument transformers and others (Isolation Transformers, Pulse Transformers, Traction Transformer, etc.) Distribution transformers dominate the market in 2022 as its applications in the residential, commercials, and industrial sectors. Following it, the power transformers, which are used in the power plants, generation’s stations, and receiving end substations, etc. They are designed for maximum efficiency at the full load as they operate all the time 24/7/365. Instrument transformers are widely used in electric utility systems to measure the voltage and current levels accurately. Current transformers (CTs) are used to step down high current levels to values that can be safely measured by meters and other instruments, while potential transformers (PTs) reduce high voltage levels for metering purposes. These measurements are essential for billing customers accurately and monitoring power quality. Instrument transformers are utilized in power quality monitoring systems to analyze and record voltage and current waveforms. This information helps diagnose and resolve power quality issues such as voltage sags, swells, harmonics, and transients.

The market is segmented on the basis of core of the transformers, which includes the closed type, shell type, and the berry type. The shell type transformers are preferred for low voltage and low power applications. Shell-type transformers are commonly used in power distribution networks, where their compact design and efficient cooling properties make them suitable for urban and residential areas. In renewable energy projects like wind farms and solar installations, shell-type transformers are used to connect the generated power to the grid. Their versatility and reliability are essential for efficient energy distribution. Thus it holds the largest marker share. However the Berry type transformers find their primary application in high-voltage testing laboratories, research institutions, and specialized industries that demand the generation of extremely high voltages. These transformers are essential tools for engineers, scientists, and researchers involved in electrical and materials testing, as well as in fundamental physics experiments. High-voltage laboratories rely on Berry type transformers to produce controlled and calibrated high-voltage impulses and continuous AC or DC voltages. They are indispensable for a wide range of applications, including insulation testing of electrical equipment, dielectric strength testing of materials, breakdown voltage testing, and electromagnetic compatibility testing. The ability of Berry type transformers to provide precise voltage levels, often reaching hundreds of kilovolts or even megavolts, ensures the accuracy and reliability of these critical tests and experiments, contributing to advancements in technology and scientific discoveries.

By winding, the transformers market is segmented into Two Wingdings and Auto Transformers. The Auto transformers are used in electrical testing and calibration laboratories to provide a wide range of voltage levels for various testing purposes, including equipment calibration and testing of electrical components. Auto transformers offer advantages such as compactness, reduced energy losses, and cost-effectiveness, making them suitable for a wide range of applications across different sectors and industries. Their versatility in voltage transformation and regulation makes them a valuable component in modern electrical systems. The Two-winding transformer are employed for step-up and step-down the voltage for transmission and distribution purpose. According to the data, the Two Windings transformers dominate the market in 2022. Its uses are in Industrial Applications, Commercial Buildings, Residential Applications, Utilities and Substations, Mining and Heavy Industry, and etc. In railway systems, two-winding transformers are used to adjust voltage levels for traction purposes, providing efficient and reliable power for trains in urban and long-distance rail networks. The market for two-winding transformers is substantial and continues to grow due to their indispensable applications.

On the basis of Cooling Type, the market is segmented into Air cooled and Oil cooled transformers. Oil-cooled transformers are often preferred for high-power applications, especially in industries, power generation, and distribution networks. The oil provides effective cooling and insulation for these transformers, allowing them to handle higher loads and voltages. Oil-cooled transformers tend to have a longer operational lifespan and are known for their robustness and durability, making them suitable for critical and continuous operations. The oil acts as an efficient cooling medium, helping dissipate heat generated during operation, which is crucial for transformers handling heavy loads. Air-cooled transformers are more compact and lightweight compared to oil-cooled counterparts, making them suitable for applications where space is limited or weight is a critical factor. Air-cooled transformers are often used in smaller distribution systems, renewable energy installations, and some industrial settings where the transformer size and cooling requirements are less demanding.

The market is segmented on the basis of Phases of transformers which are categorized into single phase and three phase transformers. Three-phase transformers indeed dominate various sectors and applications due to their efficiency and widespread use in industries, power generation, and distribution networks. They are crucial for applications requiring high power and are commonly found in manufacturing, utilities, commercial buildings, and large-scale power transmission. Three-phase transformers are essential for balancing loads, achieving better power factor correction, and ensuring reliable power distribution in systems with heavy electrical demands. Single-phase transformers, on the other hand, are not typically the dominant choice in terms of market share when it comes to high-power industrial applications. Instead, they are primarily used in residential and small commercial settings where the power requirements are lower. Single-phase transformers are commonly used for voltage conversion in homes, offices, and smaller electrical devices.

Based on the Insulation of transformers, the market is segmented into Liquid Immersed, Dry, Gas, and Solid. Liquid-immersed transformers hold a prominent position in the transformer market of electrical power distribution and transmission. These transformers are predominantly used in various critical applications and sectors due to their efficiency, reliability, and proven performance over many decades. The key advantages of liquid-immersed transformers is their excellent cooling properties, facilitated by the dielectric fluid, typically mineral oil or synthetic fluids like silicone oil, which efficiently dissipates heat generated during operation. This makes them especially suitable for high-capacity and continuous-duty applications in power generation, transmission, and distribution networks.

Based on the voltage ranges, the market is segmented into different voltage ranges like Up to 500 VA, 501 VA to 1 kVA, 2 kVA to 5000 kVA, 5001 kVA to 1000 MVA, Above 1000 MVA. Among these, the 2 kVA to 5000 kVA dominated the transformers market due to their vast applications. Transformers in the range of 501 VA (volt-amps) to 1 kVA (kilovolt-amps) are relatively small and are typically used in low-power applications where voltage transformation is required. Transformers in this range are often used in household appliances to convert voltage levels, ensuring that the appliance receives the appropriate voltage for safe and efficient operation. For example, they can adapt the voltage for lighting systems, kitchen appliances, and electronic devices. Transformers in the range of 5001 kVA (5 MVA) to 1000 MVA (1 GVA) are high-capacity transformers designed to handle extremely large electrical loads. They find applications in specialized and demanding sectors where the transmission and distribution of very high electrical power levels are necessary. Mega-projects, such as airports, stadiums, and industrial complexes, often require transformers of this size to ensure sufficient power supply to support various operations.

The market is segmented on the basis of mounting of transformers, which includes Pad and Pole. A pad mount or pad-mounted transformer is a ground-mounted electric power distribution transformer in a locked steel cabinet mounted on a concrete pad. Since all energized connection points are securely enclosed in a grounded metal housing, a pad mount transformer can be installed in places that do not have room for a fenced enclosure. Whereas Pole-mounted transformers are electric utility distribution transformers fixed on a wooden or concrete electrical service pole at the level of the overhead wires. According to the report, the pad mounting of transformers dominates the market in 2022. This accessibility enhances safety and reduces the risk associated with maintenance tasks. Installing pad-mounted transformers is relatively straightforward and cost-effective, as it doesn't require extensive excavation or complex infrastructure. Pad-mounted transformers are used in a variety of settings, including residential neighborhoods, commercial areas, industrial facilities, and distribution substations. They are capable of handling a wide range of voltage levels to suit different applications.

On the basis of transformers applications, they are used in Utility, Industries, and Residential and Commercial sectors. Transformers are indeed a cornerstone of power plants and form an integral part of the electrical infrastructure in these facilities. Power plants, whether they are thermal, hydroelectric, nuclear, or renewable energy-based, rely heavily on transformers for several critical functions. One of the primary roles of transformers in power plants is to step up the voltage generated by the power source. This step-up process is essential for efficient long-distance transmission of electricity. Higher voltage reduces energy losses during transmission, ensuring that electrical power can be efficiently transported over the grid to meet the demands of distant cities and regions, thus in utility sectors the market of transformers leads. Based on the residential and commercial applications, they are used in homes to adapt voltage levels for lighting appliances and HVAC (Heating, ventilation, and air conditioning) systems. Along with this they are used in commercial buildings, offices, retail spaces, hospitals, data centers, transportation (electric trains), aerospace and defense, telecommunications and many others.

Companies Covered in this report:

Major companies profiled in the report are Siemens AG, ABB Ltd., General Electric Company, Schneider Electric SE, Eaton Corporation plc, Mitsubishi Electric Corporation, Toshiba Corporation, CG Power and Industrial Solutions Limited, Hyosung Corporation ,Hitachi, Ltd., DAIHEN Corporation, ,The SGB-SMIT Group, Arteche Group, Fuji Electric Co., Ltd., The PFIFFNER Group, Virginia Transformer Corp, Elsewedy Electric Co S.A.E.

Considered in this report:

• Geography: North America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• North America Transformers market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:

• Distribution Transformer
• Power Transformer
• Instrument Transformer
• Others (Isolation Transformers, Pulse Transformers, Traction Transformer, etc.)

By Core:

• Closed
• Shell
• Berry

By Winding:

• Two Winding
• Auto Transformer

By Cooling Type:

• Air Cooled
• Oil Cooled

By Phase:

• Three Phase
• Single Phase

By Insulation:

• Liquid Immersed
• Dry
• Gas
• Solid

By Mounting:

• Pad
• Pole

By Voltage Range:

• Up to 500 VA
• 501 VA to 1 kVA
• 2 kVA to 5000 kVA
• 5001 kVA to 1000 MVA
• Above 1000 MVA

By Application:

• Utility
• Industrial
• Residential and Commercial

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Transformers industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.

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