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Europe Transformer Market Trends

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

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Europe Transformer Market Trends

The EU’s strict energy efficiency regulations, such as the Eco-Design Directive, require transformers with reduced energy losses and lower environmental impact. This has led to a rise in demand for high-efficiency transformers, particularly in the utility sector. Manufacturers are increasingly adopting eco-friendly materials, such as biodegradable oils, to comply with regulations and enhance environmental sustainability. Integration of IoT technology in transformers enables real-time monitoring of parameters like temperature, voltage, and load, facilitating predictive maintenance. This reduces downtime, lowers maintenance costs, and extends equipment life. Digital solutions are enhancing predictive maintenance strategies, which help utilities and industrial users anticipate failures before they occur, leading to more reliable power systems.

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.