US Transformer Market (2024-2030) | Industry, Forecast, Growth, Outlook, Trends, Analysis, Value, Size, Revenue, Share & Companies

Topics Covered in US Transformer Market Report

US Transformer Market report thoroughly covers market by Core, Product, Winding, application, Cooling, Rating and Phase. 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.

US Transformer Market Synopsis

US Transformer Market is expected to project substantial growth during the upcoming years owing to substantial increase in the installation of transformer. Rising adoption of smart grid system along with increasing penetration towards the development of economic technology that can reduce carbon emission is driving the US Transformer Market Growth. Surging installation of renewable energy system beholds the development of US Transformer Market Share.

According to 6Wresearch, US Transformer Market size is anticipated to grow at a CAGR of 5.2% during 2024-2030. The United States transformer market has been greatly driven by technological advancements in high-power transformers and smart grid systems. The smart grid systems allow utilities to monitor and control energy flow from multiple power sources, such as wind and solar power. Additionally, these systems help in identifying electricity usage by the customers, thereby creating a positive impact on energy consumption levels. These developments have seen a rise in the demand for distribution transformers, transmission transformers, and switchgears. High-power transformers, in particular, have witnessed remarkable growth due to the integration of high voltage levels at the generation end, creating a significant demand in the transmission segment. This demand is projected to grow significantly over the next decade.

The market is also facing certain challenges and the one evident challenge is the obsolete grid infrastructure. The existing transformers were installed back in the 1950s and 60s and hence their outdated technology causes significant grid losses. Additionally, the fluctuating prices of raw materials like copper, aluminium and crude oil pose a challenge to transformer manufacturers. The high costs involved in such commodities greatly impact the overall prices of the transformer units and also hinder the production of transformers.

Key Players of the Market

The key players in the United States transformer market include ABB Ltd., General Electric, Siemens, Toshiba Corporation, and Mitsubishi Electric among others. These players dominate the market and primarily focus on strategic partnerships and research and development activities as their key strategies. The industry witnesses regular acquisitions and mergers aimed at enhancing their position in the market. The market is also populated by many small-scale manufacturers and is characterized by stiff competition in terms of pricing and quality.

US Transformer Industry: Government Initiatives

The government policies play an integral role in shaping the transformer market in the United States. The Energy Policy Act (EPAct) of 2005 encouraged the implementation of innovative technology and further spurred the development of a smart grid system by incentivizing local electric utilities with grants. The energy security act of 2007 encourages the transition to alternate energy sources, specifically wind and solar power, that has boosted this market in recent years. This has led to improved transmission and distribution infrastructure, along with newer power generating systems, leading to the development of the US transformer market. In 2014, the U.S. Department of Energy initiated a Power Transformers Resilience Program to develop advanced transformers and transformer components to ensure secure and reliable operation of the U.S. power grid system.

Market Segmentation by Product

According to Saurav, Senior Research Analyst, 6Wresearch, the distribution transformer segment generated maximum revenues in the Transformer Market in the United States and is expected to dominate the market during the upcoming years due to the rising installation of smart grid.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• US Transformer Market Outlook
• Market Size of US Transformer Market, 2023
• Forecast of US Transformer Market, 2030
• Historical Data and Forecast of US Transformer Revenues & Volume for the Period 2020 - 2030
• US Transformer Market Trend Evolution
• US Transformer Market Drivers and Challenges
• US Transformer Price Trends
• US Transformer Porter's Five Forces
• US Transformer Industry Life Cycle
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Core for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Closed for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Shell for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Berry for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Product for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Power transformer for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Distribution transformer for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Instrument transformer for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Winding for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Two-winding for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Auto-transformer for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Residential & Commercial for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Utility for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Industrial for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Cooling for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Dry type for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Oil Immersed for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Insulation for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Gas for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Oil for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Solid for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Air for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Phase for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Single phase for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By 3 - phase for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By Rating for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By ? 10 MVA for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By 11 MVA to 60 MVA for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By 61 MVA to 600 MVA for the Period 2020 - 2030
• Historical Data and Forecast of US Transformer Market Revenues & Volume By > 600 MVA for the Period 2020 - 2030
• US Transformer Import Export Trade Statistics
• Market Opportunity Assessment By Core
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Winding
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Cooling
• Market Opportunity Assessment By Insulation
• Market Opportunity Assessment By Phase
• Market Opportunity Assessment By Rating
• US Transformer Top Companies Market Share
• US Transformer Competitive Benchmarking By Technical and Operational Parameters
• US Transformer Company Profiles
• US Transformer Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

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

Frequently Asked Questions About the Market Study (FAQs):