The global power transformer market is projected to increase from estimated $30.38 B in 2025 to $41.62 B by 2030, growing at a CAGR of 6.5 % during the forecast period from 2025 to 2030, according to a report by MarketsandMarkets.
The growth of the power transformer market is largely driven by the increasing need to reinforce power distribution and transmission infrastructure in response to the rising global demand for electricity. Additionally, the market benefits from the expanding integration of renewable energy sources and significant investments in industrial development, fuelling the demand for efficient and high-capacity power transformers. A notable growth catalyst is the accelerating adoption of HVDC systems, which require advanced transformer solutions for long-distance, high-efficiency power transmission, further propelling the market during the forecast period.
Asia Pacific is projected to be the fastest-growing market for power transformers, driven by a combination of economic, infrastructural, and policy-related factors. Rapid industrialisation and urbanisation in key countries, such as China and India, as well as Southeast Asian countries, have led to a sharp rise in electricity demand, prompting large-scale investments in expanding and modernising power grid infrastructure.
Key market players include Hitachi Energy, General Electric, Siemens, Mitsubishi Electric, Eaton Corporation, Hyundai Electric, Schneider Electric, Fuji Electric, Toshiba Energy System & Solution Corporation, and CG Power, and Industrial Solutions, among others.
Source: Open PR
