The global transformers market is projected to reach $89.34 billion by 2030, driven by increasing electricity demand, renewable energy integration, and grid modernization.
The Asia-Pacific (APAC) region is expected to lead with strong investments, while the Europe, Middle East, and Africa (EMEA) region is set to be the fastest-growing, propelled by infrastructure upgrades and power sector reforms across developing economies in the Middle East and Africa. The global market for power transformers is forecast to reach $35.83 billion, while the distribution transformers market is anticipated to reach $53.51 billion by 2030.
In APAC, the power transformers market is expected to grow from $12.35 billion in 2024 to $18.96 billion in 2030. This growth is underpinned by economic expansion, increased commercial activity, and significant national development programs. Key contributors include national electrification programs, expansion of renewable portfolios, market reforms, and industrial growth in China and India. The APAC region is also projected to dominate the distribution transformers segment with a market value of $32.51 billion by 2030.
In EMEA, the power transformers market is projected to grow at a CAGR of 7.7 percent, while the distribution transformers market is expected to grow at a CAGR of 9.1 percent. Europe’s developed nations like Germany and the UK are focusing on replacing aging infrastructure, whereas countries in Africa and the Middle East are investing heavily due to ongoing power sector reforms and the need for new grid infrastructure.
In the Americas, the transformers market is estimated to grow at a CAGR of 6.9 percent. The overarching global strategy includes scaling up generation capacities, aligning power sources with sustainable practices, and strengthening underdeveloped grid infrastructure. As distributed technologies rise, they are contributing to the increasing demand for distribution transformers. Manufacturers and stakeholders are encouraged to invest in transformer development aligned with the evolving needs of modern and future power grids.
GreentechLead.com News Desk