Transformer Market Analysis

Core (Closed, Shell, Berry)

Shell segment is anticipated to dominate around 36.5% transformer market share by the end of 2037. Shell transformers are of sturdy build and are preferred for high-voltage applications hence, they find their fit in tough environmental conditions. In September 2022, Hitachi Energy introduced an oil-free shell transformer called RESIBLOC Rail for rail applications, which can support high-voltage requirements of up to 25 kV. As such, it is a development that evidences segment growth stirred by demand for durable and efficient transformers that can operate under rigorous conditions.

Product (Distribution Transformer, Power Transformer, Instrument Transformer)

By 2037, distribution transformer segment is projected to account for around 52% transformer market share, driven by the global expansion of urban and rural electrification projects. As cities grow and more rural areas continue to get access to electricity, the need for efficient and reliable distribution transformers is growing continuously. This underlines the rising adoption of distribution transformers that support city expansions and accessibility to energy. Furthermore, updating aged infrastructure boosts this segment’s growth, whereby governments and utilities give high priority to power distribution that is resilient and efficient. The segment growth is also driven by the increasing renewable energy projects since the need for a strong distribution network increases with the management and balance of variable power inputs.

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