Power Transformer Market

2019 Analysis and Review of Power Transformer Market by Type - Core Transformer and Shell Transformer for 2019 - 2029

Core Power Transformers Preferred over Shell Counterparts

In 2019, 6 in 10 power transformers sold will be core power transformers, and this preference is mainly attributed to their easy maintenance and low operational costs. Despite having lower mechanical strength and lesser power output than shell power transformers, core power transformers are commonly used in a wide range of low-voltage applications.

Leading market players are observing an upsurge in uptake of shell power transformers in high-power applications with a restricted range of industrial applications. This is expected to reflect in more lucrative opportunities of sales for core power transformers in many industrial applications in the coming years.

East Asia Holds 1/4th Revenue Share in Global Market

South and East Asia collectively hold more than one-third revenue share of the power transformer market, with East Asia alone contributing to over 27% revenue of the global market. Leading players are eyeing profitable growth opportunities triggered by establishment of manufacturing industries, infrastructure expansion, and improving electrification in East Asian countries. Meanwhile, the power transformer market in developed regions has reached saturation, which is redirecting market leaders towards developing economies

Higher Installation Costs and Price Point to Stunt Sales

Power transformers are usually manufactured using materials such as copper, aluminum, and steel, which are more expensive than other raw materials used in conventional power distribution systems. Along with the fluctuations in raw material supply and costs, high installation costs of power transformers further add to their price, and this make them more expensive than conventional power distribution systems. While this remains a challenge to the growth of power transformers market, reduced manufacturing costs will be the key developmental strategy of manufacturers.

How Growth will Unfold

Increasing concerns about improving energy efficiency in the power industry is leading to the rise in integration of broad-ranging frequency distribution links in the residential and commercial applications of power transformers. Furthermore, governing bodies, especially in developing economies, are investing heavily in electrification programs in order to enhance their ability to service urban as well as rural residential & commercial loads.


Which macro trends will influence the sales of power transformer?

Adoption of smart power transformers has been on the rise due to rapidly changing energy distribution and generation methods. Moreover, demand for these transformers is expected to be a boon to disaster-recovery efforts, redefining electrical grid, and creating distribution systems capable of accommodating a great influx of stored and renewable energy.

What will be the impact of green initiatives in the power transformer market?

Green transformers offer reduced carbon footprint, optimized life-cycle expenses and lowered maintenance, and restricted pollution risks. In addition, implementation of advanced on-line monitoring systems in green transformers can prevent defects & damages and maximize operational management.

Which segment of the power transformer will have the most growth over the forecast period?

In terms of product, sales of wet-type power transformers are projected to reach US$ 19 Bn by 2029. Significant growth opportunities lie in wet-type transformers, owing to their higher efficiency, cost-effective maintenance, and durability attributes.   

Where will power transformers have their greatest success?     

East Asia’s market is expected to boom rapidly and reach a revenue worth US$ 6.5 Bn by the end of 2029. Demand for power transformers is expected to spur in the region, due to growing government spending and efforts in enhancing the power infrastructure & capabilities. MEA will also witness moderate growth in the future.

Which is the key application area of power transformers?

In 2018, power transformers for the residential and commercial sectors held 38% of the total revenue. Demand from these sectors will continue to increase on a robust pace over the forecast period.

What strategies are market players implementing to capitalize on growing need for power transformers?

Market players are focusing on increasing the production outputs and shifting their manufacturing facilities to developing countries in order to reduce operation costs and lead times.


The global power transformer market is segmented into six segments in detail to cover every aspect of the market and present complete market intelligence to the reader


  • Core
  • Shell


  • Dry
  • Wet


  • Single Phase
  • Three Phase

End Use

  • Residential & Commercial
  • Utilities
  • Industrial


  • 100-200kV
  • 200-400 kV
  • Above 400 kV


  • Generation Step-up
  • Transmission


  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA

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Power Transformer Market