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North America Transformer Market Trends

Report ID: GMI6941
Published Date: Nov 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The North American transformer market was valued at USD 17.8 billion in 2024 and is projected to grow at a 7.8% CAGR from 2025 to 2034, driven by the need to upgrade aging transformers.

The shell core segment is expected to exceed USD 13.1 billion by 2034, owing to their robust construction and high short-circuit resistance, making them ideal for reliability-focused environments.

U.S. transformer industry is projected to surpass USD 24.7 billion by 2034, driven by significant investments to modernize and expand the aging power grid infrastructure.

Key players in the 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, and Ormazabal.