Europe Cast Resin Transformer Market Size - By Winding (Two Winding, Auto Transformer), By Rating (≤ 5 MVA, > 5 MVA to ≤ 30 MVA, > 30 MVA), By Application, Country Insights & Forecast, 2024 – 2032

Europe Cast Resin Transformer Market Size

Europe Cast Resin Transformer Market was valued at USD 910.2 million in 2023 and is expected to grow at a CAGR of over 10.7% between 2024 and 2032, driven by by the increasing emphasis on renewable energy integration, grid modernization initiatives, investments in electricity grid and the growing demand for reliable and efficient power distribution systems.
 

Additionally, the focus on reducing carbon emissions and enhancing energy efficiency is fuelling the adoption of cast resin transformers. Technological advancements in insulation materials and design innovations, further contribute to market expansion, catering to the evolving needs of the European energy landscape.
 

COVID–19 Impact

The COVID-19 pandemic disrupted the Europe cast resin transformer market, leading to supply chain disruptions, project delays, and fluctuating demand. Economic uncertainty and restrictions hindered construction activities, impacting transformer installations. However, gradual recovery is anticipated with easing restrictions and economic stabilization efforts.
 

Europe Cast Resin Transformer Market Trends

The Europe cast resin transformer industry is witnessing a notable growth owing to increasing demand for sustainable energy solutions, which is driving the adoption of eco-friendly transformers. Digitalization and smart grid initiatives enhance efficiency and reliability which promotes the market growth. For instance, The EU unveiled the "Digitalization of the Energy System" plan in late 2022, expecting USD 633 Billion investments by 2030, with USD 184 Billion allocated for grid digitalization.
 

In addition, stringent energy efficiency regulations promote the deployment of energy-saving transformers. Emerging applications in renewable energy integration and electric vehicle charging infrastructure further stimulate market growth, while innovations in insulation materials and manufacturing processes continue to advance transformer technology in Europe.
 

Europe Cast Resin Transformer Market Analysis

Two winding cast resin transformers segment accounted for over 65% of the market share in 2023. The cast resin transformer market for two-winding configurations is witnessing robust growth due to increasing demand for reliable and efficient power distribution solutions. The expanding renewable energy sector, infrastructure modernization initiatives, and stringent energy efficiency regulations further drives the product penetration.
 

Furthermore, advancements in insulation materials and manufacturing processes contribute to improved performance and durability of transformers. The rise in smart grid deployments and digitalization efforts further accelerates market expansion. With the growing emphasis on sustainable energy solutions, the demand for cast resin transformers in two-winding configurations is expected to continue rising steadily.
 

Based on application, the industries segment is estimated to grow at a CAGR of over 9.5% through 2032. Cast resin transformers offer numerous advantages across industries, including excellent moisture resistance, reduced fire risk, and enhanced environmental safety due to their self-extinguishing properties. They require minimal maintenance, provide high mechanical strength, and operate quietly, making them ideal for indoor installations. Cast resin transformers are compact and lightweight, facilitating easier transportation and installation. With excellent thermal performance and reliability, they ensure efficient power distribution in various industrial settings while complying with stringent environmental regulations.
 

The UK cast resin transformer market size is projected to reach USD 330 million by 2032, driven by increasing investments in renewable energy infrastructure, grid modernization initiatives, and the expansion of smart grid technologies. In 2021, 8 million smart meters were installed and linked to the UK's Data Communications Company (DCC), increasing the total from 9.2 million to 17 million. Demand is further fueled by the need for reliable and efficient power distribution systems across industries such as renewable energy, manufacturing, utilities, and infrastructure. Furthermore, the emphasis on environmental sustainability and energy efficiency regulations also contributes to market expansion.
 

Europe Cast Resin Transformer Market Share

General Electric maintains a significant market share in Europe's cast resin transformer industry due to its wide range of innovative transformer solutions. Its reputation for reliability, advanced technology, and comprehensive service offerings positions GE as a preferred choice for industries across Europe. With a strong presence and strategic partnerships, GE effectively meets the diverse needs of customers while driving innovation and setting industry standards in the cast resin transformer market.
 

Europe Cast Resin Transformer Market Companies

Some of the key market players operating across the Europe cast resin transformer industry are:

• ABB
• AM Transformers
• Bharat Heavy Electricals Limited
• CG Power & Industrial Solutions Ltd.
• Eaton Corporation
• Fuji Electric Co., Ltd
• GE
• Hitachi Energy Ltd.
• Schneider Electric
• SGB SMIT
• Siemens Energy
• TMC Transformers S.P.A
• Toshiba Energy Systems & Solutions Corporation
• URJA Techniques
• WEG
   

Europe Cast Resin Transformer Industry News:

• In February 2022, TMC Transformers acquired Intermagnetics srl from Hitachi Energy Italy. Intermagnetics designs & manufactures reactors and low-voltage transformers for industrial applications along with offering all technical safety, environmental, quality, and customer technical specifications. In addition, this acquisition further complemented the strategic investment, allowing TMC to strengthen its portfolio of special transformers and expand its Intermagnetics product range; this will bring an advantage for both the company and its end users.
   
• In June 2020, Siemens purchased UltraSoC Technologies Ltd., a prominent UK-based provider of analytics, instrumentation solutions, and cybersecurity systems. Siemens integrated UltraSoC’s Tessent software into its product portfolio, creating a unified real-time data-driven infrastructure to enhance product quality.
   

This market research report on Europe cast resin transformer includes an in–depth coverage of the industry with estimates & forecast in terms of units and revenue in ‘000 Units and USD Million from 2019 to 2032, for the following segments:

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Market, By Winding

• Two winding
• Auto transformer

Market, By Rating

• ≤ 5 MVA
• > 5 MVA to ≤ 30 MVA
• > 30 MVA

Market, By Application

• Industries
• Inner-City Substations
• Indoor/Underground Substations
• Renewable Generation
• Others

The above information has been provided for the following countries:

• Germany
• UK
• Italy
• Spain
• Netherlands
• France
• Austria
• Sweden