Transformer Market Analysis

Mounting Type Segment Analysis

The pad-mounted transformer is projected to hold the largest transformers market share of 55% in 2040, demonstrating the rising demand of the segment. Pad-mounted segment is confined in a steel container that ensures safety from animals and other objects that can damage the transformer or cause a malfunction in it. High voltage transformers are often installed in an open for easier access and maintenance, which makes them vulnerable to the weather and adulteration. Thus, the pad-mounted transformers cover the entire unit in a steel container, ensuring zero remittance of any foreign object to could damage the transformer. The pole-mounted transformers are also driven by their adoption in rural areas where the infrastructure is not poor. The pole-mounted transformers ensure limited access for people and can work efficiently during floods and other natural disasters.

End Use Segment Analysis

The power utilities segment is expected to hold the largest transformers market share of 42% owing to the expansion in urbanization and industrialization, which demands more power. Businesses engaged in power utilities are constantly leveraging the government initiative to build a strong network of customers and dominate their global position. The rise in demand is also a result of increased manufacturing capacity of manufacturers, where they aim to meet the demand of the rising population and enhance their production capacity. Other segments, such as residential, also show consistent growth owing to the increase in urban shelters and government-aided residential. However, the majority of the demand is coming from the power utilities segment. The demand for global electricity increased by 4.3% in 2024, demonstrating the rise in population levels and electrification across various sectors, fuelling the adoption of the power and utility segment.

Capacity Range Segment Analysis

The small capacity segment will dominate the market with promising demand in the future, owing to the rise in construction and urbanization. Construction sites often employ small-sized transformers as distribution centres for the power that act as the sub-power segment, which is used to power small components and equipment. Furthermore, residential areas are also increasingly adopting the small capacity transformers that can power a small area and can be repaired with ease in case of severe faults. The medium segment is also growing and is being adopted widely in factories and warehouses that consume a high amount of power. The small capacity segment will, however, dominate the transformers market and maintain a strong position throughout the forecast period.

Our in-depth analysis of the global transformers market includes the following segments: