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Utility Scale Power Transformer Market Share

Report ID: GMI11614
Published Date: Sep 2024
Report Format: PDF

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Utility Scale Power Transformer Market Share

General Electric holds a significant share in the utility-scale power transformer industry, driven by its advanced technology, extensive product portfolio, and global presence. GE’s transformers are widely used in modernizing electrical grids and integrating renewable energy sources like wind and solar. The company's focus on innovative, high-efficiency solutions and digital monitoring systems enhances grid reliability and energy management, further solidifying its position in the growing market.

Utility Scale Power Transformer Market Companies

Some of the key market players operating across the utility scale power transformer industry are:

Bharat Bijlee
Bharat Heavy Electricals
Celme
CG Power & Industrial Solutions
Daihen
General Electric
Grupo Comtrafo
Hammond Power Solutions
Hangzhou Qiantang River Electric Group (QRE)
Hitachi Energy
Hyosung Heavy Industries
Hyundai Electric & Energy Systems
JSHP Transformer
Kirloskar Electric
Larson Electronics
Mitsubishi Electric
Pfiffner Group
Schneider Electric
Siemens Energy
Toshiba Energy Systems & Solutions
WEG
YueBian Electric

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of utility-scale power transformer reached USD 11.3 billion in 2023 and is poised to grow at a CAGR of 6.2% between 2024 and 2032, driven by increasing energy demand, rapid industrialization, and urbanization in emerging economies.

The oil insulation segment is expected to grow at a CAGR of over 5.5% through 2032, fueled by increasing global energy consumption, the expansion of renewable energy infrastructure, and the need to upgrade aging power grids.

The utility-scale power transformer industry utilizing oil-immersed cooling is expected to surpass USD 11.9 billion by 2032, led by rising global energy demand, increased integration of renewable energy sources, and the need to modernize aging grid infrastructure.

The Asia-Pacific market is set to surpass USD 9.4 billion by 2032, propelled by increasing electricity demands in rapidly urbanizing and industrializing nations, particularly China and India.

The key companies in the market include Bharat Bijlee, Bharat Heavy Electricals, Celme, CG Power & Industrial Solutions, Daihen, General Electric, Grupo Comtrafo, Hammond Power Solutions, Hangzhou Qiantang River Electric Group (QRE), Hitachi Energy, Hyosung Heavy Industries, Hyundai Electric & Energy Systems.