Green Power Transformer Market
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The global green power transformer market size was assessed at USD 1.2 billion in 2024 and is set to witness a CAGR of 6.8% through 2034, due to the amplifying focus being paid to enhancing energy efficiency. There is rising interest in the manufacturing of high-power transformers that utilize new materials such as amorphous steel cores that assists in reduction of no load losses. These transformers are suitable for reducing the operational costs, conforming to the global sustainability and green goals and remaining within the rapidly changing regulatory framework.
Due to the current trend of switching to greener forms of energy including solar, wind, and hydroelectric energy, there is an escalating requirement for transformers which can efficiently transfer these types of energy. Green power transformers have been proven useful in tackling the challenges that come with renewable energy such as varying loads and grid stability. These features help in ensuring green grid development.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Green Power Transformer Market size in 2024: | USD 1.2 Billion |
| Forecast Period: | 2025 to 2034 |
| Forecast Period 2023 - 2032 CAGR: | 6.8 |
| 2023 Value Projection: | USD 2.2 Billion |
| Historical Data for: | 2021 to 2024 |
| No of Pages: | 80 |
| Tables, Charts & Figures: | 40 |
| Segments Covered: | Phase, Rating, and Application |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The global advancement of smart grids and digitalization of the energy systems increases the market for smart green power transformers. These transformers are fitted with advanced digital functionalities comprising of IoT sensors, remote monitoring, predictive maintenance, and many more that enhance the performance of the systems. Governments across the globe are embracing more tightened criteria towards the environment and provide subsidies with the aim of encouraging the adoption of green and energy efficient transformers. These regulations have forced manufacturers to create development of green power transformers which reduce carbon footprint and improve energy efficiency and comply with other parameters of sustainability in the green power transformer market.
Modernization of electrical infrastructure is an objective that many nations are fully funding for the implementation of green power transformers intended to provide smart cities and renewable energy centres with reliable power distribution. These transformers assist in the stabilization of the grid, which is becoming increasingly important given the growing penetration of decentralized energy sources.
The three-phase segment is estimated to surpass 1.4 billion by 2034, attributed to the progress and utilization of more renewable energy resources like solar, wind, and hydro. These resources are necessary for the effective incorporation of renewably sourced electricity into the grid as well as the efficient and stable transmission of power.
The utility segment is expected to grow at a rate of 5.8% till 2034. With the continuous expansion, the utility segment aims to focus more on energy loss reduction and improving the transmission effectiveness. For utility-scale, minimal losses accompany the required advanced materials such as amorphous steel and other low-loss materials which are needed to mitigate energy loss. In addition, there will also be a major need to resolve the no-load and load losses in order to provide cost-effective solutions.
The U.S. green power transformer market size is likely to exceed USD 120.3 million by 2034. The US market for the green power transformer is anticipated to surpass USD 120.3 million by 2034. In U.S., considerable resources are being invested to upgrade the current power grid for better performance and reliability. The shift towards a green economy cannot be accomplished without the use of power transformers as they are the backbone behind integrating renewable resources. With the development of information technologies, these transformers have become indispensable components of modern electrical systems that improve Grid effectiveness.
Countries in the Asia and Pacific region are moving the change towards renewable energy like China, India and Japan and South Korea. This has created a growing need for green power transformers that have the capability to effortlessly connect with the wind, solar and hydroelectric facilities these countries are looking to build.
ABB offers one of the best green power transformers in the market as they manufacture a wide variety and both standard and custom electrical equipment. They are actively involved in the electrical industry and meet various appropriate application’s requirements by providing specialized bushing.
Some of the key players operating across the green power transformer industry are:
Market, By Phase
Market, By Rating
Market, By Application
The above information has been provided for the following regions and countries:
Siemens Energy, Schneider Electric, Hitachi Energy Ltd., AB, Eaton, GE Grid Solutions, Hyosung Heavy Industries, CG Power and Industrial Solutions, Ormazabal, and Alstom Grid are some of the major green power transformer companies worldwide.
Asia-Pacific green power transformer market will record more than 6.5% CAGR between 2023 and 2032, owing to the increasing demand for energy efficiency among governments and utilities in the region.
The market size of green power transformer was worth USD 1.1 billion in 2023 and will register over 6.9% CAGR from 2024 to 2032, due to the increasing shift towards renewable energy sources such as wind, solar, and hydropower and the rising preference for efficient power transformers worldwide.
The three-phase green power transformer market will register over 0.5% CAGR through 2032, on account of their critical role in managing the flow of electricity to and from energy storage systems while contributing to grid stability and reliability.