North America Transformer Market Unlocking Growth Potential: 2025-2033 Analysis and Forecasts

North America Transformer Market by Core (Closed, Shell, Berry), by Product (Distribution transformer, Power transformer, Instrument transformer, Others), by Winding (Two winding, Auto-transformer), by Cooling (Dry type, Oil immersed), by Insulation (Gas, Oil, Solid, Air, Others), by Rating (≤ 10 MVA, > 10 MVA to ≤ 100 MVA, > 100 MVA to ≤ 600 MVA, > 600 MVA), by Mounting (Pad, Pole, Others), by Application (Residential, Commercial & industrial, Utility), by North America (U.S., Canada) Forecast 2025-2033

North America Transformer Market Unlocking Growth Potential: 2025-2033 Analysis and Forecasts

Key Insights

The size of the North America Transformer Market was valued at USD 16.3 Billion in 2023 and is projected to reach USD 28.12 Billion by 2032, with an expected CAGR of 8.1% during the forecast period. A transformer is an electrical device used to transfer electrical energy between two or more circuits through electromagnetic induction. It operates on the principle of Faraday's law of induction and works to either increase or decrease the voltage in an alternating current (AC) electrical circuit. The basic components of a transformer include the primary coil, secondary coil, and a magnetic core. The primary coil receives the input voltage, which creates a magnetic field in the core, and this magnetic field induces a voltage in the secondary coil, thereby transferring electrical energy from one circuit to another. The number of turns in the primary and secondary coils determines the voltage change between them, a relationship known as the transformer’s turns ratio. This growth can be attributed to the rising demand for energy-efficient transformers for both industrial and residential applications. Government initiatives promoting energy conservation, smart grid development, and renewable energy integration have also played a crucial role. Additionally, technological advancements, such as the integration of digital technology and the use of advanced materials, have improved transformer efficiency and reliability, driving market expansion.

North America Transformer Market Concentration & Characteristics

The North America Transformer Market is moderately concentrated with a few key players holding a significant market share. Innovation is a prominent characteristic of the market, with manufacturers continuously investing in research and development to improve transformer performance and enhance efficiency. Regulatory frameworks in place for transformer safety and environmental compliance have a moderate impact on the market. Product substitutes, such as alternative energy sources and solid-state technologies, represent limited competition to traditional transformers. End-user concentration is high in the industrial sector, with a small number of large-scale users accounting for a substantial share of transformer demand. The level of M&A activity in the market has been relatively low in recent years.

North America Transformer Market Trends

1. Increasing Demand for Energy-Efficient Transformers: The growing focus on energy conservation is driving demand for energy-efficient transformers, as they offer significant energy savings over conventional transformers.

2. Smart Grid Development: The advancement of smart grids requires transformers that enable efficient distribution, monitoring, and control of electricity.

3. Integration of Renewable Energy: The integration of renewable energy sources, such as solar and wind, into the grid is increasing the demand for transformers that can handle intermittent power flows.

4. Technological Advancements: Digital technology and advanced materials are being integrated into transformers to improve efficiency, reliability, and longevity.

5. Government Regulations: Governments are implementing regulations to promote energy efficiency and safety in the transformer industry, driving market growth.

North America Transformer Market Growth

Key Region or Country & Segment to Dominate the Market

1. Region: The United States is expected to dominate the North America Transformer Market due to its large industrial base, infrastructure development, and increasing energy consumption.

2. Segments: The distribution transformer segment is projected to hold the largest market share owing to its widespread use in various applications, including industrial, commercial, and residential sectors.

North America Transformer Market Product Insights Report Coverage & Deliverables

Our report provides comprehensive insights into the North America Transformer Market, including:

Market size, shares, and forecasts for various segments
Analysis of market trends, drivers, and restraints
Competitive landscape and profiles of key players
Regional market analysis and growth potential assessment
Key industry developments, news, and announcements

North America Transformer Market Analysis

The North America Transformer Market has witnessed steady growth over the last five years, with a market size of USD 10.3 billion in 2022. The market is expected to continue its upward trajectory, reaching a value of USD 16.3 billion by 2027, exhibiting a robust CAGR of 8.1%.

North America Transformer Market Regional Insights

United States: The U.S. dominates the North America Transformer Market, accounting for over 80% of the revenue share.
Canada: Canada holds a significant share of the market due to its growing infrastructure development and increasing demand for energy-efficient transformers.

Driving Forces: What's Propelling the North America Transformer Market

Increasing demand for energy-efficient transformers
Smart grid development
Integration of renewable energy
Technological advancements
Government regulations

Challenges and Restraints in North America Transformer Market

High manufacturing costs
Competition from alternative technologies
Regulatory compliance challenges
Skilled workforce shortage

Emerging Trends in North America Transformer Market

Digitalization of transformers
Advanced materials integration
Smart transformer monitoring
Predictive maintenance
Cybersecurity

North America Transformer Industry News

March 2023: General Electric announces a USD 450 million investment in its U.S. manufacturing facilities to enhance transformer production efficiency.
April 2023: Hyosung Heavy Industries expands its high-voltage transformer production facility in Memphis, Tennessee, marking its entry into the U.S. market.

Leading Players in the North America Transformer Market

North America Transformer Market Segmentation

1. Core
- 1.1. Closed
- 1.2. Shell
- 1.3. Berry
2. Product
- 2.1. Distribution transformer
- 2.2. Power transformer
- 2.3. Instrument transformer
- 2.4. Others
3. Winding
- 3.1. Two winding
- 3.2. Auto-transformer
4. Cooling
- 4.1. Dry type
  - 4.1.1. Self-air
  - 4.1.2. Air blast
- 4.2. Oil immersed
  - 4.2.1. Self-cooled
  - 4.2.2. Water cooled
  - 4.2.3. Forced oil
  - 4.2.4. Others
5. Insulation
- 5.1. Gas
- 5.2. Oil
- 5.3. Solid
- 5.4. Air
- 5.5. Others
6. Rating
- 6.1. ≤ 10 MVA
- 6.2. > 10 MVA to ≤ 100 MVA
- 6.3. > 100 MVA to ≤ 600 MVA
- 6.4. > 600 MVA
7. Mounting
- 7.1. Pad
- 7.2. Pole
- 7.3. Others
8. Application
- 8.1. Residential
- 8.2. Commercial & industrial
- 8.3. Utility

North America Transformer Market Segmentation By Geography

1. North America
- 1.1. U.S.
- 1.2. Canada

North America Transformer Market Regional Share

North America Transformer Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2019-2033
Base Year	2024
Estimated Year	2025
Forecast Period	2025-2033
Historical Period	2019-2024
Growth Rate	CAGR of 8.1% from 2019-2033
Segmentation	By Core Closed Shell Berry By Product Distribution transformer Power transformer Instrument transformer Others By Winding Two winding Auto-transformer By Cooling Dry type Self-air Air blast Oil immersed Self-cooled Water cooled Forced oil Others By Insulation Gas Oil Solid Air Others By Rating ≤ 10 MVA > 10 MVA to ≤ 100 MVA > 100 MVA to ≤ 600 MVA > 600 MVA By Mounting Pad Pole Others By Application Residential Commercial & industrial Utility By Geography North America U.S. Canada

Table Of Content

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1 Refurbishment demand for existing grid infrastructure
    - 3.2.2 Rising infrastructural spending
    - 3.2.3 Increasing demand for electricity
- - 3.3. Market Restrains
  - - 3.3.1. High initial cost
- - 3.4. Market Trends
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. North America Transformer Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Core
  - 5.1.1. Closed
  - 5.1.2. Shell
  - 5.1.3. Berry
- 5.2. Market Analysis, Insights and Forecast - by Product
  - 5.2.1. Distribution transformer
  - 5.2.2. Power transformer
  - 5.2.3. Instrument transformer
  - 5.2.4. Others
- 5.3. Market Analysis, Insights and Forecast - by Winding
  - 5.3.1. Two winding
  - 5.3.2. Auto-transformer
- 5.4. Market Analysis, Insights and Forecast - by Cooling
  - 5.4.1. Dry type
    - 5.4.1.1. Self-air
    - 5.4.1.2. Air blast
  - 5.4.2. Oil immersed
    - 5.4.2.1. Self-cooled
    - 5.4.2.2. Water cooled
    - 5.4.2.3. Forced oil
    - 5.4.2.4. Others
- 5.5. Market Analysis, Insights and Forecast - by Insulation
  - 5.5.1. Gas
  - 5.5.2. Oil
  - 5.5.3. Solid
  - 5.5.4. Air
  - 5.5.5. Others
- 5.6. Market Analysis, Insights and Forecast - by Rating
  - 5.6.1. ≤ 10 MVA
  - 5.6.2. > 10 MVA to ≤ 100 MVA
  - 5.6.3. > 100 MVA to ≤ 600 MVA
  - 5.6.4. > 600 MVA
- 5.7. Market Analysis, Insights and Forecast - by Mounting
  - 5.7.1. Pad
  - 5.7.2. Pole
  - 5.7.3. Others
- 5.8. Market Analysis, Insights and Forecast - by Application
  - 5.8.1. Residential
  - 5.8.2. Commercial & industrial
  - 5.8.3. Utility
- 5.9. Market Analysis, Insights and Forecast - by Region
  - 5.9.1. North America
6. Competitive Analysis
- 6.1. Market Share Analysis 2024
- - 6.2. Company Profiles
  - - 6.2.1 ARTECHE
      6.2.1.1. Overview
      6.2.1.2. Products
      6.2.1.3. SWOT Analysis
      6.2.1.4. Recent Developments
      6.2.1.5. Financials (Based on Availability)
    - 6.2.2 Amran Inc
      6.2.2.1. Overview
      6.2.2.2. Products
      6.2.2.3. SWOT Analysis
      6.2.2.4. Recent Developments
      6.2.2.5. Financials (Based on Availability)
    - 6.2.3 ABB
      6.2.3.1. Overview
      6.2.3.2. Products
      6.2.3.3. SWOT Analysis
      6.2.3.4. Recent Developments
      6.2.3.5. Financials (Based on Availability)
    - 6.2.4 Continental Electric
      6.2.4.1. Overview
      6.2.4.2. Products
      6.2.4.3. SWOT Analysis
      6.2.4.4. Recent Developments
      6.2.4.5. Financials (Based on Availability)
    - 6.2.5 CG Power & Industrial Solutions Ltd.
      6.2.5.1. Overview
      6.2.5.2. Products
      6.2.5.3. SWOT Analysis
      6.2.5.4. Recent Developments
      6.2.5.5. Financials (Based on Availability)
    - 6.2.6 Celme S.r.l.
      6.2.6.1. Overview
      6.2.6.2. Products
      6.2.6.3. SWOT Analysis
      6.2.6.4. Recent Developments
      6.2.6.5. Financials (Based on Availability)
    - 6.2.7 Elsewedy Electric
      6.2.7.1. Overview
      6.2.7.2. Products
      6.2.7.3. SWOT Analysis
      6.2.7.4. Recent Developments
      6.2.7.5. Financials (Based on Availability)
    - 6.2.8 Eaton
      6.2.8.1. Overview
      6.2.8.2. Products
      6.2.8.3. SWOT Analysis
      6.2.8.4. Recent Developments
      6.2.8.5. Financials (Based on Availability)
    - 6.2.9 General Electric
      6.2.9.1. Overview
      6.2.9.2. Products
      6.2.9.3. SWOT Analysis
      6.2.9.4. Recent Developments
      6.2.9.5. Financials (Based on Availability)
    - 6.2.10 Hitachi Energy Ltd.
      6.2.10.1. Overview
      6.2.10.2. Products
      6.2.10.3. SWOT Analysis
      6.2.10.4. Recent Developments
      6.2.10.5. Financials (Based on Availability)
    - 6.2.11 Hyosung Heavy Industries
      6.2.11.1. Overview
      6.2.11.2. Products
      6.2.11.3. SWOT Analysis
      6.2.11.4. Recent Developments
      6.2.11.5. Financials (Based on Availability)
    - 6.2.12 Kirloskar Electric Company
      6.2.12.1. Overview
      6.2.12.2. Products
      6.2.12.3. SWOT Analysis
      6.2.12.4. Recent Developments
      6.2.12.5. Financials (Based on Availability)
    - 6.2.13 Mitsubishi Electric Corporation
      6.2.13.1. Overview
      6.2.13.2. Products
      6.2.13.3. SWOT Analysis
      6.2.13.4. Recent Developments
      6.2.13.5. Financials (Based on Availability)
    - 6.2.14 Ormazabal
      6.2.14.1. Overview
      6.2.14.2. Products
      6.2.14.3. SWOT Analysis
      6.2.14.4. Recent Developments
      6.2.14.5. Financials (Based on Availability)
    - 6.2.15 Prolec GE
      6.2.15.1. Overview
      6.2.15.2. Products
      6.2.15.3. SWOT Analysis
      6.2.15.4. Recent Developments
      6.2.15.5. Financials (Based on Availability)
    - 6.2.16 Pfiffner Group
      6.2.16.1. Overview
      6.2.16.2. Products
      6.2.16.3. SWOT Analysis
      6.2.16.4. Recent Developments
      6.2.16.5. Financials (Based on Availability)
    - 6.2.17 Siemens Energy
      6.2.17.1. Overview
      6.2.17.2. Products
      6.2.17.3. SWOT Analysis
      6.2.17.4. Recent Developments
      6.2.17.5. Financials (Based on Availability)
    - 6.2.18 Schneider Electric
      6.2.18.1. Overview
      6.2.18.2. Products
      6.2.18.3. SWOT Analysis
      6.2.18.4. Recent Developments
      6.2.18.5. Financials (Based on Availability)
    - 6.2.19 Toshiba International Corporation
      6.2.19.1. Overview
      6.2.19.2. Products
      6.2.19.3. SWOT Analysis
      6.2.19.4. Recent Developments
      6.2.19.5. Financials (Based on Availability)
    - 6.2.20 Trench Group
      6.2.20.1. Overview
      6.2.20.2. Products
      6.2.20.3. SWOT Analysis
      6.2.20.4. Recent Developments
      6.2.20.5. Financials (Based on Availability)
    - 6.2.21 Xignux
      6.2.21.1. Overview
      6.2.21.2. Products
      6.2.21.3. SWOT Analysis
      6.2.21.4. Recent Developments
      6.2.21.5. Financials (Based on Availability)

List of Figures

Figure 1: North America Transformer Market Revenue Breakdown (Billion, %) by Product 2024 & 2032
Figure 2: North America Transformer Market Share (%) by Company 2024

List of Tables

Table 1: North America Transformer Market Revenue Billion Forecast, by Region 2019 & 2032
Table 2: North America Transformer Market Revenue Billion Forecast, by Core 2019 & 2032
Table 3: North America Transformer Market Revenue Billion Forecast, by Product 2019 & 2032
Table 4: North America Transformer Market Revenue Billion Forecast, by Winding 2019 & 2032
Table 5: North America Transformer Market Revenue Billion Forecast, by Cooling 2019 & 2032
Table 6: North America Transformer Market Revenue Billion Forecast, by Insulation 2019 & 2032
Table 7: North America Transformer Market Revenue Billion Forecast, by Rating 2019 & 2032
Table 8: North America Transformer Market Revenue Billion Forecast, by Mounting 2019 & 2032
Table 9: North America Transformer Market Revenue Billion Forecast, by Application 2019 & 2032
Table 10: North America Transformer Market Revenue Billion Forecast, by Region 2019 & 2032
Table 11: North America Transformer Market Revenue Billion Forecast, by Core 2019 & 2032
Table 12: North America Transformer Market Revenue Billion Forecast, by Product 2019 & 2032
Table 13: North America Transformer Market Revenue Billion Forecast, by Winding 2019 & 2032
Table 14: North America Transformer Market Revenue Billion Forecast, by Cooling 2019 & 2032
Table 15: North America Transformer Market Revenue Billion Forecast, by Insulation 2019 & 2032
Table 16: North America Transformer Market Revenue Billion Forecast, by Rating 2019 & 2032
Table 17: North America Transformer Market Revenue Billion Forecast, by Mounting 2019 & 2032
Table 18: North America Transformer Market Revenue Billion Forecast, by Application 2019 & 2032
Table 19: North America Transformer Market Revenue Billion Forecast, by Country 2019 & 2032
Table 20: U.S. North America Transformer Market Revenue (Billion) Forecast, by Application 2019 & 2032
Table 21: Canada North America Transformer Market Revenue (Billion) Forecast, by Application 2019 & 2032

STEP 1 - Identification of Relevant Samples Size from Population Database

STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.

Note* : In applicable scenarios

STEP 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

STEP 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.

Frequently Asked Questions

Get a Free Sample

This FREE sample includes data points, ranging from trend analyses to estimates and forecasts. See for yourself.

Pricing

Looking for a Custom Report?

We offer personalized report customization at no extra cost, including the option to purchase individual sections or country-specific reports. Plus, we provide special discounts for startups and universities. Get in touch with us today!

Tailored for you

In-depth Analysis Tailored to Specified Regions or Segments
Company Profiles Customized to User Preferences
Comprehensive Insights Focused on Specific Segments or Regions
Customized Evaluation of Competitive Landscape to Meet Your Needs
Tailored Customization to Address Other Specific Requirements

Director of Business Development

Sarah L

The insights provided in this report were spot-on and exactly what we needed to guide our strategic planning. The level of detail on industry trends and forecasts is unmatched. It saved us countless hours and gave us a significant advantage!"

North America Transformer Market Unlocking Growth Potential: 2025-2033 Analysis and Forecasts