Market Forecast By Core (Closed, Shell, Berry), By Product (Power Transformer, Distribution Transformer, Instrument Transformer, Others), By Winding (Two-Winding, Auto-Transformer), By Application (Residential & Commercial, Utility, Industrial), By Cooling (Dry-Type, Oil Immersed), By Phase (Single Phase, 3-Phase),By Rating (10 MVA, 11 MVA To 60 MVA, 61 MVA To 600 MVA, > 600 MVA), by Countries (United States, Canada) And Competitive Landscape
Product Code: ETC059318 | Publication Date: Dec 2023 | Updated Date: Oct 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
According to 6Wresearch internal database and industry insights, the North America Transformer Market was valued at USD 23.5 billion in 2024 and is projected to reach USD 41.2 billion by 2031, indicating a compound annual growth rate (CAGR) of 8% during the forecast period (2025–2031).
Report Name | North America Transformer Market |
Forecast period | 2025–2031 |
CAGR | 8% |
Market Size | USD 41.2 billion by 2031 |
Growing Sector | Smart Grid Infrastructure |
The North America Transformer Market report comprehensively covers the market By Cooling, By Power Ratings, By Applications, and By Key Countries. It provides a detailed and unbiased analysis of the market trends, high-growth areas, opportunities, and drivers that will help stakeholders formulate strategies aligned with evolving market dynamics.
The North America Transformer Market is witnessing massive growth due to various factors, such as the modernization of aging grid infrastructure and the rising expansion of renewable energy generation. Rising industrial automation across the region is another major growth catalyst. Various growth drivers contributing to the market growth are digitalization and real-time monitoring needs. The United States and Canada are two major countries consisting significant deployments across the renewable and utility sectors.
Below are some prominent drivers and their influence on market dynamics:
Driver | Primary Segments Affected | Why it matters (evidence) |
Grid Modernization Initiatives | Oil-Cooled; Smart Grid | The U.S. Department of Energy’s “Grid Modernization Initiative” focuses on upgrading the nation’s transmission network. |
Renewable Energy Integration | Medium & Large Power Transformer; Green Energy | The expansion of solar and wind energy across states is driving demand for transformers match with renewable integration. |
Rising Electric Vehicle (EV) Infrastructure | Smart Transformer; Power Infrastructure | Rapid expansion of EV charging networks requires efficient transformers to handle high-voltage charging demands. |
Industrial Electrification and Automation | Small & Medium Power Transformer; Industrial | Automation across manufacturing and oil & gas sectors in North America is accelerating transformer installations. |
The North America Transformer Market size is projected to grow at a CAGR of 8% from 2025 to 2031. large-scale infrastructure upgrades, renewable power expansion, and advanced grid monitoring systems are estimated to be significant growth catalysts. Additionally, the deployment of advanced and energy-efficient transformers is estimated to increase owing to an increase in the demand for a reliable electricity supply. Rising replacement of aging transmission and distribution networks is another major growth catalyst. The rising expansion of industrialization, the growing urban population, and the growth of data centers are boosting the demand for smart transformers, leading to a surge in the market growth.
Below are some major restraints and their influence on market dynamics:
Restraint | Primary Segments Affected | What this means (evidence) |
High Initial Installation Costs | Large Power Transformer | The high cost of large-scale transformer deployment in grid networks limits adoption among smaller utilities. |
Environmental and Noise Regulations | Oil-Cooled; Urban Installations | Stringent U.S. EPA standards regarding oil leaks and acoustic pollution restrict traditional transformer usage in urban areas. |
Raw Material Price Volatility | All Categories | Copper and steel price fluctuations directly affect manufacturing costs and profit margins. |
Aging Infrastructure Challenges | Public Utilities | Replacement of old transformers involves high capital investment, affecting project completion rates. |
Despite steady growth, the market consists of numerous challenges, such as delays in grid modernization approvals and supply chain disruptions. Shortage of skilled electrical engineers across the region is another major challenge. Additionally, transformer production involves long lead times due to high customization requirements.
There are several notable trends which are currently shaping the market dynamics:
Potential investment opportunities in the North America Transformer Industry include:
Some leading players dominating the North America Transformer Market Share include:
Company Name | General Electric Company (GE Grid Solutions) |
Establishment Year | 1892 |
Headquarter | Boston, Massachusetts, USA |
Official Website | Click here |
GE offers high-voltage and distribution transformers across North America, supporting renewable integration and smart grid development.
Company Name | ABB Ltd. |
Establishment Year | 1988 |
Headquarter | Cary, North Carolina (Regional HQ) |
Official Website | Click here |
ABB’s digital transformer technology enhances grid reliability and supports industrial and renewable applications across the region.
Company Name | Schneider Electric SE |
Establishment Year | 1836 |
Headquarter | Boston, Massachusetts, USA (North America HQ) |
Official Website | Click here |
Schneider Electric provides eco-designed transformers integrated with IoT and energy management platforms for utilities and smart cities.
Company Name | Siemens Energy AG |
Establishment Year | 2020 |
Headquarter | Orlando, Florida, USA (Regional HQ) |
Official Website | Click here |
Siemens Energy delivers advanced transformer solutions for industrial, renewable, and grid modernization projects.
Company Name | Howard Industries |
Establishment Year | 1969 |
Headquarter | Laurel, Mississippi, USA |
Official Website | Click here |
Howard Industries is a major U.S.-based manufacturer of distribution and power transformers serving utility and industrial clients.
The North America Transformer Market is governed by strict energy efficiency and safety regulations aimed at improving performance. In the United States, the Department of Energy (DOE) has introduced updated efficiency standards for distribution and power transformers, which encourage the use of advanced materials and designs that improve grid reliability. Similarly, in Canada, certain authorities such as Natural Resources Canada (NRCan) and the Canadian Standards Association (CSA) mandate adherence to national energy efficiency norms for both dry-type and liquid-immersed transformers.
The North America Transformer Market future seems optimistic owing to several factors, such as growing investments in clean energy, EV infrastructure, and digital grid technologies. Additionally, upgradation in existing & aging substations and cross-border energy cooperation among certain countries, such as U.S., Canada, and Mexico, will further boost the growth of the market. In addition, the region’s transition toward eco-friendly and smart transformer solutions will remain a key growth catalyst over the coming decade.
The report offers a comprehensive study of the following market segments and their leading categories:
According to Mansi Singh, Senior Research Analyst, 6Wresearch, the Oil-Cooled transformer category dominates the North American market due to its superior heat dissipation and high efficiency in heavy-duty industrial and utility applications. These transformers are integral in transmission networks and renewable integration projects requiring consistent performance under varying load conditions.
The Large Power Transformer segment holds the leading market share, primarily driven by its critical role in inter-state transmission, grid upgrades, and renewable power integration projects. Investments in HVDC transmission infrastructure across the U.S. and Canada are further driving segment growth.
The Power Infrastructure segment dominates the market as utilities prioritize grid expansion, reliability, and modernization. The increasing incorporation of smart monitoring systems and digital control centers enhances the role of transformers in sustainable power distribution.
The United States holds the largest share in the North America Transformer Market due to major investments in renewable energy, modernization of aging grid assets, and expansion of high-voltage transmission systems. The country’s emphasis on decarbonization and electrification further fuels demand for efficient transformer solutions.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 North America Transformer Market Overview |
3.1 North America Regional Macro Economic Indicators |
3.2 North America Transformer Market Revenues & Volume, 2021 & 2031F |
3.3 North America Transformer Market - Industry Life Cycle |
3.4 North America Transformer Market - Porter's Five Forces |
3.5 North America Transformer Market Revenues & Volume Share, By Countries, 2021 & 2031F |
3.6 North America Transformer Market Revenues & Volume Share, By Core, 2021 & 2031F |
3.7 North America Transformer Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.8 North America Transformer Market Revenues & Volume Share, By Winding, 2021 & 2031F |
3.9 North America Transformer Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.10 North America Transformer Market Revenues & Volume Share, By Cooling, 2021 & 2031F |
3.11 North America Transformer Market Revenues & Volume Share, By Phase, 2021 & 2031F |
3.12 North America Transformer Market Revenues & Volume Share, By Phase, 2021 & 2031F |
4 North America Transformer Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 North America Transformer Market Trends |
6 North America Transformer Market, 2021 - 2031F |
6.1 North America Transformer Market, Revenues & Volume, By Core, 2021 - 2031F |
6.2 North America Transformer Market, Revenues & Volume, By Product, 2021 - 2031F |
6.3 North America Transformer Market, Revenues & Volume, By Winding, 2021 - 2031F |
6.4 North America Transformer Market, Revenues & Volume, By Application, 2021 - 2031F |
6.5 North America Transformer Market, Revenues & Volume, By Cooling, 2021 - 2031F |
6.6 North America Transformer Market, Revenues & Volume, By Phase, 2021 - 2031F |
6.7 North America Transformer Market, Revenues & Volume, By Rating, 2021 - 2031F |
7 United States Transformer Market, 2021 - 2031F |
7.1 United States Transformer Market, Revenues & Volume, By Core, 2021 - 2031F |
7.2 United States Transformer Market, Revenues & Volume, By Product, 2021 - 2031F |
7.3 United States Transformer Market, Revenues & Volume, By Winding, 2021 - 2031F |
7.4 United States Transformer Market, Revenues & Volume, By Application, 2021 - 2031F |
7.5 United States Transformer Market, Revenues & Volume, By Cooling, 2021 - 2031F |
7.6 United States Transformer Market, Revenues & Volume, By Phase, 2021 - 2031F |
7.7 United States Transformer Market, Revenues & Volume, By Rating, 2021 - 2031F |
8 Canada Transformer Market, 2021 - 2031F |
8.1 Canada Transformer Market, Revenues & Volume, By Core, 2021 - 2031F |
8.2 Canada Transformer Market, Revenues & Volume, By Product, 2021 - 2031F |
8.3 Canada Transformer Market, Revenues & Volume, By Winding, 2021 - 2031F |
8.4 Canada Transformer Market, Revenues & Volume, By Appliation, 2021 - 2031F |
8.5 Canada Transformer Market, Revenues & Volume, By Cooling, 2021 - 2031F |
8.6 Canada Transformer Market, Revenues & Volume, By Phase, 2021 - 2031F |
8.7 Canada Transformer Market, Revenues & Volume, By Rating, 2021 - 2031F |
9 North America Transformer Market Key Performance Indicators |
10 North America Transformer Market - Opportunity Assessment |
10.1 North America Transformer Market Opportunity Assessment, By Countries, 2021 & 2031F |
10.2 North America Transformer Market Opportunity Assessment, By Core, 2021 & 2031F |
10.3 North America Transformer Market Opportunity Assessment, By Product, 2021 & 2031F |
10.4 North America Transformer Market Opportunity Assessment, By Winding, 2021 & 2031F |
10.5 North America Transformer Market Opportunity Assessment, By Application, 2021 & 2031F |
10.6 North America Transformer Market Opportunity Assessment, By Cooling, 2021 & 2031F |
10.7 North America Transformer Market Opportunity Assessment, By Phase, 2021 & 2031F |
10.8 North America Transformer Market Opportunity Assessment, By Rating, 2021 & 2031F |
11 North America Transformer Market - Competitive Landscape |
11.1 North America Transformer Market Revenue Share, By Companies, 2024 |
Market Forecast By Core (Closed, Shell, Berry), By Product (Power Transformer, Distribution Transformer, Instrument Transformer, Others), By Winding (Two-Winding, Auto-Transformer), By Application (Residential & Commercial, Utility, Industrial), By Cooling (Dry-Type, Oil Immersed), By Phase (Single Phase, 3-Phase), By Rating (10 MVA, 11 MVA To 60 MVA, 61 MVA To 600 MVA, > 600 MVA), by Countries (United States, Canada) And Competitive Landscape
Product Code: ETC059318 | Publication Date: May 2021 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
North America Transformer Market is projected to grow over the coming years. North America Transformer Market is a part of our various regional publications globally. 6W tracks Transformer Market for over 60 countries with individual country-wise market opportunity assessment and publishes the report titled Global Transformer Market outlook report annually.
North America Transformer Market report thoroughly covers market by Core, Product, Winding, Application, Cooling, Phase, Rating and Countries. The market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
North America Transformer Market Synopsis
North America Transformer Market is anticipated to register substantial growth on account of rising penetration towards development of renewable sources of energy. Increasing industrialization backed by rising norms for the refurbishment of existing infrastructure with latest technology beholds the North America Transformer Market Growth. Additionally, the government stringent norms in order to prevent the power theft is also adding to the North America Transformer Market Share.
According to 6Wresearch, North America Transformer Market size is projected to register growth during 2021-2027. The rising adoption of electric vehicle is further expected to energize the growth of the market. Moreover, the upsurging demand of electricity in mining, petrochemical and manufacturing industries drives the North America Transformer Market Revenue. The outburst of the coronavirus pandemic has led to the decline in the growth of market owing to the disruption in supply chain. Additionally, the unplanned lockdown by the government hampered the on-going projects further declined the growth of Transformer Market in North America.
Market Analysis by Installation
On the basis of installation, the outdoor segment is expected to grow substantially owing to the rising spending on infrastructure coupled with increasing demand for captive power generation.
Other Related Reports:
Asia Pacific Transformer Market | Latin America Transformer Market |
Middle East Transformer Market | Europe Transformer Market |
Global Transformer Market | Africa Transformer Market |
Key Attractiveness of the Report
Key Highlights of the Report:
Market Scope and Segmentation
The report provides a detailed analysis of the following Market segments: