North America Transformer Market - By Core, By Product, By Winding, By Cooling, By Insulation, By Rating, By Mounting, By Application Analysis, Share, Growth Forecast 2025 – 2034

North America Transformer Market Size

North America transformer market size was assessed at USD 17.8 billion in 2024 and is envisioned to witness a CAGR of 7.8% from 2025 to 2034. Various transformers in North America are nearing the end of their lifespan, driving investments in upgrades and replacements. Utilities are modernizing the grid to boost resilience and reliability, especially against extreme weather and rising power needs. This trend increases demand for advanced transformers that perform well in tough conditions.
 

The rise in renewable energy projects, especially solar and wind, has boosted demand for transformers. These devices manage variable power output and integrate renewable sources into the grid. Step-up transformers, which prepare renewable power for distribution, are particularly sought after. The unpredictable nature of renewable energy is driving innovation in transformer technology, with a focus on flexibility and efficiency. Utilities are adopting smart transformers with IoT sensors for real-time monitoring. These devices provide data on performance, faults, and load, enabling predictive maintenance and reducing downtime. By using data analytics, operators can improve power distribution, grid stability, and asset lifespan.
 

North America Transformer Market Trends

The U.S. Department of Energy and other regulators are setting strict transformer efficiency standards. Manufacturers are responding with eco-friendly models, using materials like amorphous metal cores and low-impact insulating oils. Dry-type transformers, which are safer and fire-resistant, are becoming popular in cities and indoor settings. The surge in electric vehicles (EVs) across North America calls for a major boost in charging infrastructure. High-capacity transformers are key to powering EV charging stations, especially in business and industrial areas. This trend is pushing up demand for distribution and substation transformers that can handle bigger loads and support quick-charging systems.
 

North America Transformer Market Analysis

In North America's transformer market, segmented by core types such as closed, shell, and berry, the shell core segment is expected to exceed USD 13.1 billion by 2034. Shell core transformers stand out for their sturdy build and high short-circuit resistance. These qualities make them popular in settings where reliability is key. Their unique design, with windings enclosed in a core frame, boosts durability. As a result, they excel in tough environments like heavy industry and renewable energy systems.
 

The North America transformer market is segmented by application into residential, commercial and industrial, and utility sectors. The commercial and industrial segment is anticipated to grow at a CAGR exceeding 7.5% through 2034. North America leads in cloud computing, IoT, and AI, fueling demand for large-scale data centers. These facilities need reliable, high-capacity transformers to ensure uninterrupted power and meet strict uptime standards. To support this growth, data center transformers now feature redundant systems, advanced cooling, and integrated backup power.
 

U.S. transformer market is projected to surpass USD 24.7 billion by 2034. The U.S. power grid faces challenges due to its aging infrastructure. To address this, significant investments are being made to modernize and expand the grid. Transformers are key to these upgrades, improving grid reliability, efficiency, and resilience. Utilities are swapping old transformers for newer, more powerful models to manage growing energy needs and boost system performance. The rapid growth of renewable energy projects, like solar and wind farms, calls for transformers that can handle changing power flows and work with various energy sources. There is a high demand for transformers in renewable energy, especially step-up transformers for solar and wind projects. Also, transformers that can manage two-way power flow and keep the grid stable are vital for integrating renewable energy into the existing system.
 

North America Transformer Market Share

ABB is a significant player in the market, providing a comprehensive selection of electrical equipment, from standard to customized solutions. Known for its robust presence in the electrical industry, ABB consistently offers specialized bushing solutions tailored to diverse application needs.
 

North America Transformer Market Companies

Some of the key market players operating across the North America transformer industry are:

• 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
• Trench Group
   

North America Transformer Industry News:

• In February 2024, ABB recently acquired SEAM Group, a prominent provider of asset management and advisory services, to enhance its electrification portfolio with advanced asset management capabilities. ABB also intends to invest in digital technologies, such as IoT sensors for predictive maintenance, to prolong transformer lifespan and meet the evolving needs of today’s increasingly electrified world.
   

North America transformer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in ‘000 Units & USD Million from 2021 to 2034, for the following segments:

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Market, By Core (‘000 Units, USD million)

• Closed
• Shell
• Berry

Market, By Product (‘000 Units, USD million)

• Distribution transformer
• Power transformer
• Instrument transformer
• Others

Market, By Winding (‘000 Units, USD million)

• Two Winding
• Auto Transformer

Market, By Cooling (‘000 Units, USD million)

• Dry type
• Oil immersed

Market, By Insulation (‘000 Units, USD million)

• Gas
• Oil
• Solid
• Air
• Others

Market, By Rating (‘000 Units, USD million)

• ≤ 10 MVA
• > 10 MVA to ≤ 100 MVA
• > 100 MVA to ≤ 600 MVA
• > 600 MVA

Market, By Mounting (‘000 Units, USD million)

• Pad
• Pole
• Others

Market, By Application (‘000 Units, USD million)

• Residential
• Commercial & industrial
• Utility

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico