The Market Reports

Synopsis
The global market for Heavy Electrical Equipment Transformer was estimated to be worth US$ 23060 million in 2024 and is forecast to a readjusted size of US$ 36480 million by 2031 with a CAGR of 7.0% during the forecast period 2025-2031.
Heavy Electrical Equipment Transformer are devices used to change voltage and are widely used in power transmission and distribution systems, especially in high-voltage, high-power power systems. They are usually used to convert high-voltage electrical energy into a low voltage suitable for users, or vice versa, to ensure that electricity can be transmitted over long distances with minimal losses while providing the appropriate voltage as needed. Heavy transformers generally handle large amounts of power, usually hundreds of kilovolt-amperes (kVA) to millions of kilovolt-amperes (MVA), and are used to provide power to large areas or industrial facilities.
In terms of product type and technology, oil-immersed transformers dominate, accounting for more than 60% of the market share; dry-type transformers have a faster growth rate, mainly due to the growth in demand in new energy, rail transit and other fields.
From the perspective of product application, power transmission and distribution transformers are the most important markets, accounting for more than 47% of the market share. In the next few years, transformers for new energy power generation and rail transit will maintain rapid growth. The electrification upgrade of industries such as steel and chemical (such as electric arc furnaces replacing blast furnaces) has driven the demand for large-capacity transformers above 63 MVA.
The major manufacturers in the global market include Hitachi Energy (ABB), Siemens, GE Vernova, Mitsuibishi Electric, Tbea, HD Hyundai Electric, Toshiba, Schneider and China XD Electric, etc., especially in the high-end field, which is mainly dominated by a few companies; there are many companies in the mid- and low-end markets, which are mainly dominated by Chinese brands. In 2024, the top five manufacturers in the global market accounted for about 37% of the market share. It is expected that in the next few years, large enterprises will focus mainly on the high-end market, have strong competitiveness, and will maintain stronger competitiveness. Due to the weak R&D investment, innovation and technological capabilities, and risk resistance capabilities of small and medium-sized enterprises, the market concentration will further increase in the next few years.
Thanks to the deepening of smart grid construction, the demand for smart transformers is gradually increasing. The research and development and production of smart transformers will become one of the development trends of the transformer industry. In the future, smart transformers will continue to be optimized and upgraded, from single-function transformers to multi-functional combined transformers; from traditional coil transformers to smart universal transformers using power electronics technology.
This report aims to provide a comprehensive presentation of the global market for Heavy Electrical Equipment Transformer, focusing on the total sales volume, sales revenue, price, key companies market share and ranking, together with an analysis of Heavy Electrical Equipment Transformer by region & country, by Type, and by Application.
The Heavy Electrical Equipment Transformer market size, estimations, and forecasts are provided in terms of sales volume (Units) and sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Heavy Electrical Equipment Transformer.
Market Segmentation
By Company
Hitachi Energy (ABB)
Siemens
GE
Mitsuibishi Electric
Tbea
HD Hyundai Electric
Toshiba
Schneider
China XD Electric
Shandong Electrical Engineering & Equipment Group
Huapeng Transformer
Hangzhou Qiantang Riever Electric Group
SGB-SMIT
Baoding Tianwei Baobian Electric
Shihlin Electric&Engineering
WEG
Sanbian Sci-Tech
Hyosung
Eaglerise Electric & Electronic
Sojo
Shandong Dachi Electric
Segment by Type
Oil-immersed Transformer
Dry-type Transformer
Other
Segment by Application
Power Industry
Metallurgical Industry
Railway
New Energy
Others
By Region
North America
United States
Canada
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia-Pacific
Europe
Germany
France
U.K.
Italy
Netherlands
Nordic Countries
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size (value, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Heavy Electrical Equipment Transformer manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Sales, revenue of Heavy Electrical Equipment Transformer in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Sales, revenue of Heavy Electrical Equipment Transformer in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.

Index