Oil Filled Transformer Market Share

North American Market Forecast

The North America oil filled transformer market is anticipated to hold the highest revenue share of about 40% over the forecast period. The growth of the market in this region could be attributed to growing government investment in smart grid network projects. The US Department of Energy (DOE) requested input regarding an approximately USD 9 billion plan for smart grids and other grid-strengthening improvements in late 2021.

APAC Market Analysis

The oil filled transformer market in Asia Pacific is also estimated to grow with a notable share. This growth could be owing to the rising need to provide electricity in rural areas. A significant part of Asia Pacific is covered with rural regions and their concern about electricity is also growing. Most rural parts in this region lack the supply of electricity. As a result, the adoption of oil-filled transformers is surging in this region owing to its ability to provide electricity over longer distances.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of oil filled transformer is assessed at USD 48.92 billion.

The oil filled transformer market size was valued at USD 46.22 billion in 2024 and is expected to reach USD 115.51 billion by 2037, expanding at around 7.3% CAGR during the forecast period i.e., between 2025-2037. The market growth is propelled by growing demand for renewable energy, rising use of natural oil in oil filled transformer, and surge in construction of tall buildings.

North America industry is predicted to dominate majority revenue share of 40% by 2037, due to growing government investment in smart grid network projects in the region.

The major players in the market include ABB, Schneider Electric, General Electric, Crompton Greaves Consumer Electricals Limited, Bharti Heavy Electricals Limited, Jinan Co., Ltd., Mettz Group, Celme s.r.l., Kirloskar Electric Company, Kotsons Pvt. Ltd.

Oil Filled Transformer Market Share