Summary

Global Transformers Market For Renewable Energy 2024-2028
The transformers market for renewable energy is forecasted to grow by USD 3.44 bn during 2023-2028, accelerating at a CAGR of 4.65% during the forecast period. The report on the transformers market for renewable energy provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by a shift in focus of government bodies toward renewable energy, modernization of existing transformers by smart grid systems, and expansion of renewable power generation capacity.
Technavio's transformers market for renewable energy is segmented as below:
By Application
• Solar PV
• Wind farm
By Indication
• Dry insulation
• Liquid immersed insulation
By Geographical Landscape
• APAC
• Europe
• North America
• South America
• Middle East and Africa
This study identifies the rising number of offshore wind farm installations as one of the prime reasons driving the transformers market for renewable energy growth during the next few years. Also, the rising adoption of solar as a hybrid power system and the digitalization of transformers will lead to sizable demand in the market.
The report on the transformers market for renewable energy covers the following areas:
• Transformers market for renewable energy sizing
• Transformers market for renewable energy forecast
• Transformers market for renewable energy industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading transformers market for renewable energy vendors that include Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., Daihen Corp., Eaton Corp. Plc, ENERCON GmbH, Esennar Transformers Pvt. Ltd., General Electric Co., Hitachi Ltd., LC Magnetics Inc., Marsons Energy Pvt. Ltd., Northern Transformer Corp., Rajasthan Powergen Transformer Pvt. Ltd., S.E.A. Societa Elettromeccanica Arzignanese S.p.A., Schneider Electric SE, Siemens AG, STC Inc., Synergy Transformers Pvt. Ltd., TESLA TRANSFORMERS GLOBAL Pvt. Ltd., Voltamp Transformers Ltd., and Westrafo Srl. Also, the transformers market for renewable energy analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors. For further information on this report, please visit - https://www.technavio.com/report/transformers-market-for-renewable-energy-market-industry-analysis
The publisher presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

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Table of Contents

- 1 Executive Summary
o 1.1 Market overview
o Exhibit 01: Executive Summary - Chart on Market Overview
o Exhibit 02: Executive Summary - Data Table on Market Overview
o Exhibit 03: Executive Summary - Chart on Global Market Characteristics
o Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
o Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
o Exhibit 06: Executive Summary - Chart on Market Segmentation by Indication
o Exhibit 07: Executive Summary - Chart on Incremental Growth
o Exhibit 08: Executive Summary - Data Table on Incremental Growth
o Exhibit 09: Executive Summary - Chart on Vendor Market Positioning
- 2 Market Landscape
o 2.1 Market ecosystem
o Exhibit 10: Parent market
o Exhibit 11: Market Characteristics
- 3 Market Sizing
o 3.1 Market definition
o Exhibit 12: Offerings of vendors included in the market definition
o 3.2 Market segment analysis
o Exhibit 13: Market segments
o 3.3 Market size 2023
o 3.4 Market outlook: Forecast for 2023-2028
o Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
o Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
o Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
o Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)
- 4 Historic Market Size
o 4.1 Global transformers market for renewable energy 2018 - 2022
o Exhibit 18: Historic Market Size - Data Table on global transformers market for renewable energy 2018 - 2022 ($ billion)
o 4.2 Application Segment Analysis 2018 - 2022
o Exhibit 19: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
o 4.3 Indication Segment Analysis 2018 - 2022
o Exhibit 20: Historic Market Size - Indication Segment 2018 - 2022 ($ billion)
o 4.4 Geography Segment Analysis 2018 - 2022
o Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
o 4.5 Country Segment Analysis 2018 - 2022
o Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ billion)
- 5 Five Forces Analysis
o 5.1 Five forces summary
o Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
o 5.2 Bargaining power of buyers
o Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
o 5.3 Bargaining power of suppliers
o Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
o 5.4 Threat of new entrants
o Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
o 5.5 Threat of substitutes
o Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
o 5.6 Threat of rivalry
o Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
o 5.7 Market condition
o Exhibit 29: Chart on Market condition - Five forces 2023 and 2028
- 6 Market Segmentation by Application
o 6.1 Market segments
o Exhibit 30: Chart on Application - Market share 2023-2028 (%)
o Exhibit 31: Data Table on Application - Market share 2023-2028 (%)
o 6.2 Comparison by Application
o Exhibit 32: Chart on Comparison by Application
o Exhibit 33: Data Table on Comparison by Application
o 6.3 Solar PV - Market size and forecast 2023-2028
o Exhibit 34: Chart on Solar PV - Market size and forecast 2023-2028 ($ billion)
o Exhibit 35: Data Table on Solar PV - Market size and forecast 2023-2028 ($ billion)
o Exhibit 36: Chart on Solar PV - Year-over-year growth 2023-2028 (%)
o Exhibit 37: Data Table on Solar PV - Year-over-year growth 2023-2028 (%)
o 6.4 Wind farm - Market size and forecast 2023-2028
o Exhibit 38: Chart on Wind farm - Market size and forecast 2023-2028 ($ billion)
o Exhibit 39: Data Table on Wind farm - Market size and forecast 2023-2028 ($ billion)
o Exhibit 40: Chart on Wind farm - Year-over-year growth 2023-2028 (%)
o Exhibit 41: Data Table on Wind farm - Year-over-year growth 2023-2028 (%)
o 6.5 Market opportunity by Application
o Exhibit 42: Market opportunity by Application ($ billion)
o Exhibit 43: Data Table on Market opportunity by Application ($ billion)
- 7 Market Segmentation by Indication
o 7.1 Market segments
o Exhibit 44: Chart on Indication - Market share 2023-2028 (%)
o Exhibit 45: Data Table on Indication - Market share 2023-2028 (%)
o 7.2 Comparison by Indication
o Exhibit 46: Chart on Comparison by Indication
o Exhibit 47: Data Table on Comparison by Indication
o 7.3 Dry insulation - Market size and forecast 2023-2028
o Exhibit 48: Chart on Dry insulation - Market size and forecast 2023-2028 ($ billion)
o Exhibit 49: Data Table on Dry insulation - Market size and forecast 2023-2028 ($ billion)
o Exhibit 50: Chart on Dry insulation - Year-over-year growth 2023-2028 (%)
o Exhibit 51: Data Table on Dry insulation - Year-over-year growth 2023-2028 (%)
o 7.4 Liquid immersed insulation - Market size and forecast 2023-2028
o Exhibit 52: Chart on Liquid immersed insulation - Market size and forecast 2023-2028 ($ billion)
o Exhibit 53: Data Table on Liquid immersed insulation - Market size and forecast 2023-2028 ($ billion)
o Exhibit 54: Chart on Liquid immersed insulation - Year-over-year growth 2023-2028 (%)
o Exhibit 55: Data Table on Liquid immersed insulation - Year-over-year growth 2023-2028 (%)
o 7.5 Market opportunity by Indication
o Exhibit 56: Market opportunity by Indication ($ billion)
o Exhibit 57: Data Table on Market opportunity by Indication ($ billion)
- 8 Customer Landscape
o 8.1 Customer landscape overview
o Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
- 9 Geographic Landscape
o 9.1 Geographic segmentation
o Exhibit 59: Chart on Market share By Geographical Landscape 2023-2028 (%)
o Exhibit 60: Data Table on Market share By Geographical Landscape 2023-2028 (%)
o 9.2 Geographic comparison
o Exhibit 61: Chart on Geographic comparison
o Exhibit 62: Data Table on Geographic comparison
o 9.3 APAC - Market size and forecast 2023-2028
o Exhibit 63: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
o Exhibit 64: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
o Exhibit 65: Chart on APAC - Year-over-year growth 2023-2028 (%)
o Exhibit 66: Data Table on APAC - Year-over-year growth 2023-2028 (%)
o 9.4 Europe - Market size and forecast 2023-2028
o Exhibit 67: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
o Exhibit 68: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
o Exhibit 69: Chart on Europe - Year-over-year growth 2023-2028 (%)
o Exhibit 70: Data Table on Europe - Year-over-year growth 2023-2028 (%)
o 9.5 North America - Market size and forecast 2023-2028
o Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ billion)
o Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
o Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
o Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
o 9.6 South America - Market size and forecast 2023-2028
o Exhibit 75: Chart on South America - Market size and forecast 2023-2028 ($ billion)
o Exhibit 76: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
o Exhibit 77: Chart on South America - Year-over-year growth 2023-2028 (%)
o Exhibit 78: Data Table on South America - Year-over-year growth 2023-2028 (%)
o 9.7 Middle East and Africa - Market size and forecast 2023-2028
o Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
o Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
o Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
o Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
o 9.8 China - Market size and forecast 2023-2028
o Exhibit 83: Chart on China - Market size and forecast 2023-2028 ($ billion)
o Exhibit 84: Data Table on China - Market size and forecast 2023-2028 ($ billion)
o Exhibit 85: Chart on China - Year-over-year growth 2023-2028 (%)
o Exhibit 86: Data Table on China - Year-over-year growth 2023-2028 (%)
o 9.9 US - Market size and forecast 2023-2028
o Exhibit 87: Chart on US - Market size and forecast 2023-2028 ($ billion)
o Exhibit 88: Data Table on US - Market size and forecast 2023-2028 ($ billion)
o Exhibit 89: Chart on US - Year-over-year growth 2023-2028 (%)
o Exhibit 90: Data Table on US - Year-over-year growth 2023-2028 (%)
o 9.10 India - Market size and forecast 2023-2028
o Exhibit 91: Chart on India - Market size and forecast 2023-2028 ($ billion)
o Exhibit 92: Data Table on India - Market size and forecast 2023-2028 ($ billion)
o Exhibit 93: Chart on India - Year-over-year growth 2023-2028 (%)
o Exhibit 94: Data Table on India - Year-over-year growth 2023-2028 (%)
o 9.11 Japan - Market size and forecast 2023-2028
o Exhibit 95: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
o Exhibit 96: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
o Exhibit 97: Chart on Japan - Year-over-year growth 2023-2028 (%)
o Exhibit 98: Data Table on Japan - Year-over-year growth 2023-2028 (%)
o 9.12 Germany - Market size and forecast 2023-2028
o Exhibit 99: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
o Exhibit 100: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
o Exhibit 101: Chart on Germany - Year-over-year growth 2023-2028 (%)
o Exhibit 102: Data Table on Germany - Year-over-year growth 2023-2028 (%)
o 9.13 Market opportunity By Geographical Landscape
o Exhibit 103: Market opportunity By Geographical Landscape ($ billion)
o Exhibit 104: Data Tables on Market opportunity By Geographical Landscape ($ billion)
- 10 Drivers, Challenges, and Trends
o 10.1 Market drivers
o 10.2 Market challenges
o 10.3 Impact of drivers and challenges
o Exhibit 105: Impact of drivers and challenges in 2023 and 2028
o 10.4 Market trends
- 11 Vendor Landscape
o 11.1 Overview
o 11.2 Vendor landscape
o Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
o 11.3 Landscape disruption
o Exhibit 107: Overview on factors of disruption
o 11.4 Industry risks
o Exhibit 108: Impact of key risks on business
- 12 Vendor Analysis
o 12.1 Vendors covered
o Exhibit 109: Vendors covered
o 12.2 Market positioning of vendors
o Exhibit 110: Matrix on vendor position and classification
o 12.3 Bharat Heavy Electricals Ltd.
o Exhibit 111: Bharat Heavy Electricals Ltd. - Overview
o Exhibit 112: Bharat Heavy Electricals Ltd. - Business segments
o Exhibit 113: Bharat Heavy Electricals Ltd. - Key news
o Exhibit 114: Bharat Heavy Electricals Ltd. - Key offerings
o Exhibit 115: Bharat Heavy Electricals Ltd. - Segment focus
o 12.4 CG Power and Industrial Solutions Ltd.
o Exhibit 116: CG Power and Industrial Solutions Ltd. - Overview
o Exhibit 117: CG Power and Industrial Solutions Ltd. - Business segments
o Exhibit 118: CG Power and Industrial Solutions Ltd. - Key offerings
o Exhibit 119: CG Power and Industrial Solutions Ltd. - Segment focus
o 12.5 Daihen Corp.
o Exhibit 120: Daihen Corp. - Overview
o Exhibit 121: Daihen Corp. - Business segments
o Exhibit 122: Daihen Corp. - Key offerings
o Exhibit 123: Daihen Corp. - Segment focus
o 12.6 Eaton Corp. Plc
o Exhibit 124: Eaton Corp. Plc - Overview
o Exhibit 125: Eaton Corp. Plc - Business segments
o Exhibit 126: Eaton Corp. Plc - Key offerings
o Exhibit 127: Eaton Corp. Plc - Segment focus
o 12.7 ENERCON GmbH
o Exhibit 128: ENERCON GmbH - Overview
o Exhibit 129: ENERCON GmbH - Product / Service
o Exhibit 130: ENERCON GmbH - Key offerings
o 12.8 Esennar Transformers Pvt. Ltd.
o Exhibit 131: Esennar Transformers Pvt. Ltd. - Overview
o Exhibit 132: Esennar Transformers Pvt. Ltd. - Product / Service
o Exhibit 133: Esennar Transformers Pvt. Ltd. - Key offerings
o 12.9 General Electric Co.
o Exhibit 134: General Electric Co. - Overview
o Exhibit 135: General Electric Co. - Business segments
o Exhibit 136: General Electric Co. - Key news
o Exhibit 137: General Electric Co. - Key offerings
o Exhibit 138: General Electric Co. - Segment focus
o 12.10 Hitachi Ltd.
o Exhibit 139: Hitachi Ltd. - Overview
o Exhibit 140: Hitachi Ltd. - Business segments
o Exhibit 141: Hitachi Ltd. - Key news
o Exhibit 142: Hitachi Ltd. - Key offerings
o Exhibit 143: Hitachi Ltd. - Segment focus
o 12.11 Marsons Energy Pvt. Ltd.
o Exhibit 144: Marsons Energy Pvt. Ltd. - Overview
o Exhibit 145: Marsons Energy Pvt. Ltd. - Product / Service
o Exhibit 146: Marsons Energy Pvt. Ltd. - Key offerings
o 12.12 Northern Transformer Corp.
o Exhibit 147: Northern Transformer Corp. - Overview
o Exhibit 148: Northern Transformer Corp. - Product / Service
o Exhibit 149: Northern Transformer Corp. - Key offerings
o 12.13 S.E.A. Societa Elettromeccanica Arzignanese S.p.A.
o Exhibit 150: S.E.A. Societa Elettromeccanica Arzignanese S.p.A. - Overview
o Exhibit 151: S.E.A. Societa Elettromeccanica Arzignanese S.p.A. - Product / Service
o Exhibit 152: S.E.A. Societa Elettromeccanica Arzignanese S.p.A. - Key offerings
o 12.14 Schneider Electric SE
o Exhibit 153: Schneider Electric SE - Overview
o Exhibit 154: Schneider Electric SE - Business segments
o Exhibit 155: Schneider Electric SE - Key offerings
o Exhibit 156: Schneider Electric SE - Segment focus
o 12.15 Siemens AG
o Exhibit 157: Siemens AG - Overview
o Exhibit 158: Siemens AG - Business segments
o Exhibit 159: Siemens AG - Key news
o Exhibit 160: Siemens AG - Key offerings
o Exhibit 161: Siemens AG - Segment focus
o 12.16 STC Inc.
o Exhibit 162: STC Inc. - Overview
o Exhibit 163: STC Inc. - Product / Service
o Exhibit 164: STC Inc. - Key offerings
o 12.17 Synergy Transformers Pvt. Ltd.
o Exhibit 165: Synergy Transformers Pvt. Ltd. - Overview
o Exhibit 166: Synergy Transformers Pvt. Ltd. - Product / Service
o Exhibit 167: Synergy Transformers Pvt. Ltd. - Key offerings
- 13 Appendix
o 13.1 Scope of the report
o 13.2 Inclusions and exclusions checklist
o Exhibit 168: Inclusions checklist
o Exhibit 169: Exclusions checklist
o 13.3 Currency conversion rates for US$
o Exhibit 170: Currency conversion rates for US$
o 13.4 Research methodology
o Exhibit 171: Research methodology
o Exhibit 172: Validation techniques employed for market sizing
o Exhibit 173: Information sources
o 13.5 List of abbreviations
o Exhibit 174: List of abbreviations