Market Size of United States Transformer Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Transformer Market Analysis
The United States Transformer Market is expected to rise at a CAGR of more than 3% during the forecast period.
COVID-19 moderately impacted the market in 2020. Currently. The market has reached pre-pandemic levels.
- Factors such as increasing energy demands from industries and upgrading old transmission and distribution systems are likely going to drive the United States Transformer Market.
- However, delay in the implementation of some of the national-level projects is expected to restrain the United States Transformer Market.
- A smart grid is a highly efficient and economical technology that can reduce carbon emissions. Such up-gradation for now existing networks in the region can create several opportunities for the United States Transformer Market in the future.
US Transformer Industry Segmentation
A transformer is an electrical energy transfer device that either steps up or down the voltage from one alternating-current circuit to one or more other circuits.
The United States Transformer Market is segmented by power rating, cooling type, and transformer type. By power rating, the market is segmented into small, medium, and large. By cooling type, the market is segmented into air-cooled and oil-cooled. By transformer type, the market is segmented into power transformers and distribution transformers. For each segment, the market sizing and forecasts are based on the revenue (USD Billion).
| Power Rating | |
| Small | |
| Large | |
| Medium |
| Cooling Type | |
| Air-Cooled | |
| Oil-Cooled |
| Transformer Type | |
| Power Transformer | |
| Distribution Transformer |
United States Transformer Market Size Summary
The United States Transformer Market is poised for growth, driven by increasing energy demands from various sectors and the need to upgrade outdated transmission and distribution systems. The market has rebounded to pre-pandemic levels after a moderate impact from COVID-19. The adoption of smart grid technologies presents significant opportunities, as these systems enhance efficiency and reduce carbon emissions. However, delays in national-level project implementations could pose challenges to market expansion. The distribution transformer segment is expected to dominate the market, supported by investments in power transmission infrastructure, such as the contract between Hyundai Electric America Corp. and American Electric Power for the supply of distribution transformers across several states.
The shift towards renewable energy sources is a key factor propelling the United States Transformer Market. As the country increases its renewable energy capacity, the demand for power and distribution transformers to facilitate electricity transmission from generation sites to consumers is expected to rise. States like California and Texas, with substantial solar installations, and ongoing offshore wind projects, require robust transmission and distribution systems. These developments necessitate the installation of transformers to connect renewable energy sources to the grid. The market is characterized by fragmentation, with major players like Siemens AG, ABB Ltd., and General Electric Company actively participating. Additionally, initiatives such as the Department of Energy's proposed energy-efficiency criteria for distribution transformers aim to enhance the reliability of the electrical system and reduce carbon emissions, further supporting market growth.
United States Transformer Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Power Rating
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2.1.1 Small
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2.1.2 Large
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2.1.3 Medium
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2.2 Cooling Type
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2.2.1 Air-Cooled
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2.2.2 Oil-Cooled
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2.3 Transformer Type
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2.3.1 Power Transformer
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2.3.2 Distribution Transformer
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United States Transformer Market Size FAQs
What is the current United States Transformer Market size?
The United States Transformer Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in United States Transformer Market?
Siemens AG, ABB Ltd., General Electric Company, Schneider Electric SE and Emerson Electric Co. are the major companies operating in the United States Transformer Market.
