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Global Transformers Industry Report: Country Overview; Recent Events; Value Chain Analysis; Trade Analysis; Cost Structure; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis; Market Analysis; Industry Best Practices: Sourcing Strategy, Procurement Model, Negotiation Levers, Pricing Model, Key Factors Influencing the Quotation; Key Supplier Analysis, 2022-2027

Transformers Industry Report by Regional Category Spend, Price Analysis, Key Demand, Price Indicators, and Best Buying Practices


The global transformers market reached a value of about USD 31.1 billion. The industry is projected to grow at a CAGR of around 3.9% in the forecast period of 2022-2027 to reach a value of USD 38.9 billion by 2027.

The transformers industry report comprehensively analyses the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The market is primarily propelled by the increasing demand for power and the rise in the population, and the worldwide disposition toward renewable-based power production and related alterations in the transmission structure. The key demand indicator in the industry report is the highest category spender by region — Asia Pacific.

Industry Definition and Segmentation

Transformers are electrical equipment that transmits electricity with different voltage levels from one circuit to another. As an increase in current leads to a rise in voltage levels, transformers are intended to deliver the desired voltage level by adjusting or stepping the voltages as required. The global warehousing services industry report comprises segments based on type (power and distribution), application (power, oil and gas, mining, metallurgy, and manufacturing) and regions (Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa).

The Asia Pacific Region is Driving the Growth of the Industry

The Asia-Pacific region holds the largest share in the industry due to rising electricity consumption in rural and semi-urban areas. Recently, many Asian countries have seen a steady growth of power distribution networks to access power-deprived populations and enhance existing power infrastructure in semi-urban areas. China and India have the most significant electricity demand. Due to the increased use of HVDC transmission projects decreases, transmission loss during long-distance transmission.

The market is primarily driven by the large-scale integration of renewable energy sources and increased electrification plans, notably in emerging nations. Furthermore, Government regulations that encourage the rehabilitation of existing grid infrastructure and growing consumer interest in smart monitoring devices and sustainable electrical networks will boost the market growth. Moreover, Due to the Increased regulatory attention to integrating energy-efficient electrical supply systems, the industry is set to witness growth in tandem with the fast deployment of innovative grid technologies.

However, factors such as volatility in raw material prices and lack of skilled personnel hamper the market's expansion.

Best Procurement Practices

The global transformers industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by transformers utilising regions across the globe, such as contract terms, engagement models, and buyer and supplier negotiation levers.

Category Management Studies

A transformer is a passive electrical device that uses electromagnetic induction to transmit electrical energy from one circuit to another. It's typically used to step up or down voltage levels between circuits. Electrical power can be exchanged between circuits via mutual induction between two or more windings (also known as coils).

The Rise in the Development of Micro Grid and Power Generation and Transmission Technologies are Further Drive the Procurement of Transformers

The industry is being aided by the surge in adoption and demand for more flexible electrical transformers due to the development of microgrids and energy utilities. Many applications in the electronics industry use 5V, 6V, 9V, 12V, 24V, and 48V in step-down transformers. Step-down transformers are also used extensively in the electrical industry. As microgrids and power systems develop in the electrical sector, so does the need for step-down transformers. Step-down transformers are used in extremely high voltage electrical distribution networks to ensure minimal loss and provide a cost-effective solution for long-distance power transmission. As a result, the industry is augmenting.

The key zones in the industry are Europe, North America, Latin America, the Asia Pacific, the Middle East and Africa.

Key Industry Players Mentioned in the Transformers Industry Report

  • Siemens Energy
  • Hyundai Electric & Energy Systems Co., Ltd.
  • Toshiba
  • General Electric
  • TBEA

Market Landscape

The power transformer industry is expected to increase at a rapid rate. A robust business environment has emerged due to rising infrastructure expenditure and advantageous standards related to the renovation and growth of long-distance T&D networks. The growing use of high-rated power transformers in extensive solar and wind power facilities is expected to boost product demand and further market growth.

Key Initiatives by Companies

  • In April 2021, French power distribution company Enedis awarded Imefy, a European pioneer in transformer production, a contract to provide Cast Resin Distribution Transformers. The deal was signed for the next three years, possibly extending it for another two years.
  • In July 2021, GE Renewable Energy's grid solutions division received numerous orders from Power Grid Corporation of India Limited (PGCIL), India's biggest state-owned transmission company, to deliver 765 kV transformers and reactors. During the anticipated period, the contract will be in effect.

1.    Executive Summary
2.    Transformers Industry Snapshot

    2.1.    Transformers Market Outlook
    2.2.    Transformers Industry Analysis by Type
        2.2.1.    Power Transformer
        2.2.2.    Distribution Transformer
    2.3.    Transformers Industry Analysis by Application
        2.3.1.    Power
        2.3.2.    Oil & Gas
        2.3.3.    Mining
        2.3.4.    Metallurgy
        2.3.5.    Manufacturing
    2.4.    Regional Overview
        2.4.1.    North America
        2.4.2.    Europe
        2.4.3.    Asia Pacific 
        2.4.4.    Latin America
        2.4.5.    Middle East & Africa
3.    Impact of Recent Events 
4.    Transformers Value Chain Analysis 
5.    Transformers Production Process
6.    Trade Analysis 
7.    Major Risk Factors in Sourcing
8.    Transformers Cost Structure
9.    Transformers Price Analysis 
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Transformers Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    SWOT Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Industry Best Practices
    13.1.    Sourcing Strategy
    13.2.    Procurement Model
    13.3.    Contract Structure
    13.4.    Negotiation Levers
    13.5.    Pricing Model
    13.6.    Key Factors Influencing the Quotation 
14.    Key Supplier Analysis
    14.1.    Siemens Energy AG
    14.2.    Toshiba Corporation
    14.3.    Hyundai Electric & Energy Systems Co., Ltd
    14.4.    General Electric Company
    14.5.    Tbea Co. Ltd.

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Key Questions Answered in the Report

In 2021, the global attained a volume of around USD 31.1 billion in 2021.

In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 3.9%.

The primary market driver is the large-scale integration of renewable energy sources and increased electrification plans, notably in emerging nations.

The significant regions in the industry are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Some of the leading players in the industry are Siemens Energy, Toshiba, General Electric, Hyundai Electric & Energy Systems Co., Ltd., and TBEA.

Analyst Review

The global transformers market reached a value of about USD 31.1 billion and is projected to grow at a CAGR of around 3.9% in the forecast period of 2022-2027 to reach a value of USD 38.9 billion by 2027. The market is primarily driven by the large-scale integration of renewable energy sources and increased electrification plans, notably in emerging nations. Factors like Government regulations encouraging the rehabilitation of existing grid infrastructure and growing consumer interest in smart monitoring devices and sustainable electrical networks boost the market growth. Also, with the surge in adoption and demand for more flexible electrical transformers due to the development of microgrids and energy utilities, the industry is expanding. Some of the leading players in the industry are Siemens Energy, Hyundai Electric & Energy Systems Co., Ltd., Toshiba, General Electric, and TBEA.

Procurement Resources' detailed research approach explores the industry's deep, encompassing the industry's macro and micro aspects. Its team of experts uses a combination of cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

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