Asia Pacific Transformer Market Size - By Core, By Product, By Winding, By Cooling, By Insulation, By Rating, By Mounting, By Application Analysis, Share, Growth Forecast 2025 – 2034

Asia Pacific Transformer Market Size

Asia Pacific Transformer Market was valued at USD 24.2 billion in 2024 and is expected to witness a CAGR of over 4.7% from 2025 to 2034. Rapid urbanization, especially in developing countries like India and Vietnam, is spurring investments in electrical infrastructure, including substations and distribution networks. Transformers that are durable and efficient are essential for these projects to support increased energy demand in urban areas. Many Asia Pacific countries, including China, India, and Japan, are investing heavily in renewable energy projects. The rising integration of solar, wind, and other renewables into the power grid requires efficient transformers to manage fluctuating energy loads, leading to higher demand for specialized transformers with voltage stability and resilience.
 

The push for smart grid technology in the Asia Pacific region is fostering demand for digital transformers equipped with IoT sensors, automation, and monitoring capabilities. This trend supports real-time data analysis and predictive maintenance, which enhance efficiency and reduce downtime.
 

Asia Pacific Transformer Market Trends

As countries in the region set stricter environmental regulations, demand is rising for energy-efficient transformers, such as amorphous core transformers, which reduce energy losses. Governments are also promoting sustainable practices, which is encouraging the adoption of transformers that align with these goals. The expansion of industrial sectors, including manufacturing, petrochemicals, and mining, particularly in countries like China, South Korea, and Indonesia, drives the demand for high-capacity transformers. These sectors require reliable energy solutions, often spurring investments in transformers that can handle high loads and ensure operational continuity.
 

Asia Pacific Transformer Market Analysis

The closed core segment is projected to surpass USD 12.3 billion by 2034. With many Asia Pacific countries investing heavily in renewable energy, there’s an increasing need for transformers that can efficiently handle intermittent loads. Closed core transformers are preferred for these applications due to their robust construction and improved efficiency in managing fluctuating power levels typical of renewable energy sources like wind and solar.
 

The commercial and industrial segment is expected to expand at a CAGR of over 4.5% through 2034. Industrial sectors are adopting transformers with high energy efficiency to minimize operational costs and reduce environmental impact. Governments across the Asia Pacific are also enforcing energy efficiency standards, prompting industries to invest in energy-efficient transformers with reduced losses. The manufacturing, petrochemical, and mining sectors are experiencing significant growth, especially in countries like China, India, and Indonesia. These industries require robust transformers capable of handling high loads and providing consistent power, leading to increased demand for heavy-duty industrial transformers that support large-scale operations.
 

The China transformer market is forecasted to exceed USD 13.5 billion by 2034. China’s commitment to achieving carbon neutrality by 2060 is fueling large investments in renewable energy. The expansion of wind and solar power projects creates demand for transformers that can handle the unique challenges of renewable energy, such as variable loads and grid stability. Specialized transformers for renewable integration are in high demand, supporting smooth energy transmission from diverse sources to the grid. China’s push to modernize its power grid is a major growth driver.
 

The adoption of smart grid technology necessitates transformers equipped with digital capabilities, such as real-time monitoring and control, to enhance grid reliability and efficiency. Smart transformers with IoT-enabled sensors and automated features are gaining traction as they facilitate predictive maintenance and allow for better grid management.
 

Asia Pacific Transformer Market Share

ABB plays a key role in the Asia Pacific transformer industry, offering a wide range of electrical equipment, including both standard and customized solutions. With a strong presence in the electrical industry, ABB reliably delivers specialized bushing solutions designed to meet various application requirements.
 

Asia Pacific Transformer Market Companies

Some of the major key players operating across the Asia Pacific transformer industry are:

• ABB
• Arteche
• Celme
• CG Power and Industrial Solutions
• Daihen
• Eaton
• Elsewedy Electric
• General Electric
• Hyosung Heavy Industries
• Kirloskar Electric Company
• Imefy Group
• Mitsubishi Electric
• Ormazabal
• Pfiffner Group
• Schneider Electric
• Siemens Energy
• Toshiba International
• Trench Group
   

Asia Pacific Transformer Industry News

• In February 2024, ABB recently acquired SEAM Group, a leading provider of asset management and advisory services. This acquisition aims to strengthen ABB's electrification portfolio by incorporating advanced asset management capabilities. Additionally, ABB plans to invest in digital technologies, including IoT sensors for predictive maintenance, to extend transformer lifespan and address the evolving demands of today’s electrified world.
   

This Asia Pacific transformer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in ‘000 Units & USD Million from 2021 to 2034, for the following segments:

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Market, By Core

• Closed
• Shell
• Berry

Market, By Product

• Distribution Transformer
• Power Transformer
• Instrument Transformer
• Others

Market, By Winding

• Two Winding
• Auto Transformer

Market, By Cooling

• Dry Type
• Oil Immersed

Market, By Insulation

• Gas
• Oil
• Solid
• Air
• Others

Market, By Rating

• ≤ 10 MVA
• > 10 MVA to ≤ 100 MVA
• > 100 MVA to ≤ 600 MVA
• > 600 MVA

Market, By Mounting

• Pad
• Pole
• Others

Market, By Application

• Residential
• Commercial & Industrial
• Utility

The above information has been provided for the following countries:

• China
• Japan
• South Korea
• India
• Australia