Home > Energy & Power > Electrical Equipment > Transformers > Oil Filled Power Transformer Market

Oil Filled Power Transformer Market Trends

Report ID: GMI7720
Published Date: Jun 2024
Report Format: PDF

Download Free Sample

Oil Filled Power Transformer Market Trends

Innovations in transformer technology, including improved materials, enhanced cooling techniques, and advanced monitoring systems, are boosting the performance and longevity of oil-filled transformers. These advancements contribute to reduced operational costs and increased operational reliability. Stringent regulatory frameworks aimed at improving energy efficiency and reducing carbon emissions are influencing the design and operation of oil-filled transformers. Manufacturers are focusing on developing eco-friendly transformers with lower losses and biodegradable insulating oils.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of oil filled power transformer was reached USD 13.2 billion in 2023 and is expected to register 6.2% CAGR from 2024 to 2032, owing to the rising global demand for energy, particularly in developing economies worldwide.

Oil filled power transformer industry from the water cooled segment is expected to reach over USD 6.8 billion by 2032, due to the increasing need for high-capacity power transformers, particularly in heavy industrial applications and large-scale power plants.

North America oil filled power transformer industry is expected to cross USD 3.2 billion by 2032, due to ongoing efforts to modernize and upgrade aging electrical infrastructure in the region.

ABB, Bharat Heavy Electricals Limited (BHEL), Celme S.r.l., CG Power & Industrial Solutions Ltd., Eaton, Elsewedy Electric, Fuji Electric Co., Ltd., GE, Hitachi Energy Ltd., and Hyosung Heavy Industries, are some of the major oil filled power transformer companies worldwide.