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Asia Pacific Transformer Market Trends

Report ID: GMI6620
Published Date: Nov 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The Asia Pacific market for transformer was reached USD 24.2 billion in 2024 and is expected to grow at a 4.7% CAGR from 2025 to 2034, driven by rapid urbanization and investments in electrical infrastructure.

The closed core segment is projected to surpass USD 12.3 billion by 2034, led by the need for efficient transformers to handle intermittent loads from renewable energy sources.

The commercial and industrial segment is expected to expand at a CAGR of over 4.5% through 2034, as industries adopt energy-efficient transformers to reduce operational costs and comply with energy efficiency standards.

The China transformer market is forecasted to exceed USD 13.5 billion by 2034, fueled by the country's commitment to carbon neutrality and investments in renewable energy projects.

Key players in the Asia Pacific transformer industry include 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, and Trench Group.