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Europe Transformer Market Size

Report ID: GMI6687
Published Date: Nov 2024
Report Format: PDF

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Europe Transformer Market Size

Europe Transformer Market was valued at USD 11.3 billion in 2024 and is projected to witness more than 8.5% CAGR from 2025 to 2034. The EU’s commitment to decarbonization is accelerating the adoption of renewable energy sources like wind and solar. This shift requires transformers compatible with fluctuating, decentralized energy inputs, such as those with robust grid interconnection capabilities. Countries like Germany, the UK, and the Netherlands are increasing their offshore wind capacity, creating demand for specialized transformers that can withstand harsh marine environments and efficiently transmit power over long distances.

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Much of Europe’s power grid infrastructure is outdated, with many transformers nearing the end of their lifespan. Modernization efforts are underway to replace aging transformers with advanced, energy-efficient models that reduce energy loss and enhance reliability. The push for smarter grids is encouraging investment in digitalized transformers with real-time monitoring, fault detection, and remote operation features. These upgrades support grid stability and optimize energy flow.

Europe Transformer Market Report Attributes
Report Attribute	Details
Base Year:	2024
Europe Transformer Market Size in 2024:	USD 11.3 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	8.5%
2034 Value Projection:	USD 25.7 Billion
Historical Data for:	2021-2024
No. of Pages:	80
Tables, Charts & Figures:	20
Segments covered:	Core, Product, Winding, Cooling, Insulation, Rating, Mounting, and Application
Growth Drivers:	Refurbishment of existing grid networks Rising electric infrastructure spending Rapid smart grid adoption
Pitfalls & Challenges:	Increasing adoption of alternate transformer technologies

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Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The European market for transformer was reached USD 11.3 billion in 2024 and is projected to grow at a CAGR of over 8.5% from 2025 to 2034, driven by the EUs commitment to decarbonization and renewable energy adoption.

The closed core segment is expected to exceed USD 8.2 billion by 2034, due to the EUs Eco-Design Directive and energy efficiency standards that drive the adoption of transformers with lower energy losses.

The utility segment is anticipated to grow at a CAGR of over 7.3% through 2034, fueled by Europes strong commitment to renewable energy sources like wind and solar power.

The Germany transformer market is projected to surpass USD 3.1 billion by 2034, driven by the need for transformers that support decentralized energy systems and bi-directional power flow.

Key players in the Europe 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.