Who are the key players in North America Power Transformer Market industry?

The top five key players are ABB Ltd., General Electric Company, Siemens AG, Schneider Electric SE, and Eaton Corporation. These companies dominate the market by offering advanced and efficient power transformer solutions, leveraging extensive R&D, global presence, and strong distribution networks to cater to rising energy demand and grid modernization.

What is the North America Power Transformer Market growth?

The North America Power Transformer Market has witnessed steady growth in recent years, driven by infrastructure upgrades and increased renewable energy integration. For example, in 2023, Siemens AG announced new transformer projects across the U.S., supporting grid expansion and modernization to accommodate rising electricity consumption and clean energy targets.

Which segment accounted for the largest North America Power Transformer Market share?

Utilities accounted for the largest market share in the North America Power Transformer Market. This dominance is due to ongoing investments in upgrading aging transmission & distribution infrastructure and expanding grid capacity to support increased energy demands, particularly in the United States and Canada.

What are the factors driving the North America Power Transformer Market?

Key drivers include modernization of energy infrastructure, integration of renewable energy sources, and increased electricity consumption. Recently, General Electric has been involved in major grid enhancement projects across North America, supporting the need for reliable, high-capacity power transformers to ensure stable and efficient power transmission.

Which type accounted for the largest North America Power Transformer Market share?

The >100 MVA segment accounted for the largest market share in North America. This is attributed to large-scale transmission applications and infrastructure projects that require high-capacity transformers to ensure reliable bulk power transfer across vast distances, supporting utility and industrial power needs.

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North America Power Transformer Market Size & Share Analysis - Growth Trends and Forecast (2026 - 2035)

Name: North America Power Transformer Market
Brand: Bussiness Insights

North America Power Transformer Market: by Type (Power Transformer, Distribution Transformer, Isolation Transformer, Instrument Transformer, Auto Transformer, Current Transformer), Application (Utilities, Industrial, Commercial, Residential, Transportation, Renewable Energy), Distribution Channels (Direct Sales, Distributors, Online, OEMs, Retail, EPCs), Technology (Liquid-Immersed, Dry-Type, Gas-Insulated, Solid-State, Smart Transformers, Oil-Filled), Organization Size (Small, Medium, Large) and By North America Historical & Forecast Period (2020-2035) Comprehensive Study 2025

Last Updated: 23-07-2025 | Format: PDF | Report ID:10601

North America Power Transformer Market: Comprehensive Forecast and Analysis 2025-2035

The North America Power Transformer Market is projected to exhibit robust growth through 2035, supported by increasing demand for energy-efficient grid solutions, infrastructure upgrades, and soaring investments in renewable energy and smart grid technologies. Top players such as ABB, Siemens, and GE are spearheading technological advancements to address evolving customer needs across utilities, industrial, and renewable sectors. As nations prioritize grid reliability and sustainable energy integration, the adoption of advanced transformer technologies, such as smart and solid-state transformers, is accelerating. Notwithstanding, the market must navigate supply chain constraints and high initial investments, but strong policy support and innovation are paving the way for continued market expansion—driving revenues to surpass USD 10,850 Million by 2035.

Latest Market Dynamics

Key Drivers

Rising integration of renewable energy sources requiring grid modernization; exemplified by Siemens Energy's partnerships in wind integration projects in 2024.

Continued investments in utility infrastructure upgrades by major companies; ABB's 2024 expansions in digital substation solutions are improving operational efficiencies.

Accelerated adoption of smart transformers across the region, with GE recently deploying next-gen digital transformer units for grid stability in June 2024.
Transition towards solid-state transformer technology driven by energy efficiency goals, as Hitachi Energy unveiled advanced models tailored for electric mobility and distributed renewables in Q2 2024.

Key Opportunities

Deployment of transformers in renewable energy projects, especially solar and wind farms, witnessed in Schneider Electric's 2024 utility-scale partnerships across Canada.
Expansion of electric vehicle charging networks needing advanced transformers; Eaton launched compact high-efficiency solutions tailored for EV stations in the US in April 2024.

Disrupted supply chains for essential transformer components, with Toshiba citing delays in core material shipments impacting Q1 2024 deliveries.
Regulatory compliance complexity as transformer efficiency standards evolve, impacting Mitsubishi Electric's rollout of new products to meet North American ratings.

High initial capital requirements for adopting advanced transformer technologies, as seen in utility companies’ hesitancy to rapidly deploy solid-state units.
Stringent environmental regulations on oil-filled transformer disposal, resulting in increased compliance costs for players such as Virginia Transformer in 2024.

North America Power Transformer Market Share by Type, 2025

Power transformers hold the lion’s share of the North American transformer market in 2025, owing to their essential role in bulk power transmission and the upscaling of electricity grids. Distribution transformers represent a significant segment, service local reliability and distribution, while specialized transformers such as isolation and instrument types collectively make up the rest of the marketplace. The focus on grid modernization, renewable integration, and infrastructure replacement is spurring demand for technologically superior units, especially in the power transformer segment.

North America Power Transformer Market Share by Applications, 2025

Utility applications dominate the North America power transformer market in 2025, driven by large-scale grid upgrades and rising electrification. The industrial sector follows closely, propelled by automation and energy transition demands, while commercial and residential segments constitute a growing portion of market demand amid urban expansion and distributed generation. Notably, the rise in renewable and transportation electrification is further boosting transformer requirements for grid balancing and stability.

North America Power Transformer Market Revenue (USD Million), 2020-2035

The market revenue for power transformers in North America is projected to climb steadily, from USD 7,100 Million in 2020 to over USD 10,850 Million by 2035. This significant upward trajectory is attributed to modernization mandates, renewable energy integration, continued urbanization, and demand for increasingly reliable and efficient electrical infrastructure. The compounding annual growth reflects consistent investment across utilities, industry, and new technology adoption across the region.

North America Power Transformer Market YOY Growth (%), 2020-2035

Year-over-year growth in the North America Power Transformer Market ranges from 3.5% to 4.2% between 2020 and 2035 driven by resilient demand fundamentals, innovation, and sustainable infrastructure investments. Short-term volatility due to supply chain issues is expected to stabilize with improved logistics and domestic manufacturing support, resulting in a robust and sustainable upward growth momentum.

North America Power Transformer Market by Regions Share (%), 2025

The United States leads the North American power transformer market in 2025, commanding the majority share driven by extensive grid upgrades and industrial activity. Canada follows with strategic investments in renewable projects and infrastructure, whereas Mexico's share is expanding consistently, propelled by energy reforms and growth in industrial consumption.

North America Power Transformer Market Players Share (%), 2025

ABB, Siemens, and General Electric are the leading players, collectively accounting for a dominant share of the North American power transformer market in 2025. Other strong contenders include Schneider Electric, Mitsubishi Electric, and regional specialists such as Virginia Transformer and Howard Industries. The presence of these key players ensures continuous innovation, competitive pricing, and robust after-sales support across the region.

North America Power Transformer Market Buyers Share (%), 2025

Utilities continue to represent the largest buyer segment in 2025, driven by their large-scale infrastructure needs and reliability mandates. Industrial and commercial buyers collectively represent a substantial share, while growth in residential and transportation sectors is increasingly notable due to distributed energy resources and EV charging infrastructure expansion.

Metrics	Details
Years	2020-2035
Base Year	2025
Market Size	Revenue (USD Million)
Regions	United States, Canada, Mexico
Segments	By Type: Power Transformer, Distribution Transformer, Isolation Transformer, Instrument Transformer, Auto Transformer, Current Transformer; By Application: Utilities, Industrial, Commercial, Residential, Transportation, Renewable Energy
Players	ABB, Siemens, General Electric, Eaton, Schneider Electric, Mitsubishi Electric, Toshiba, Bharat Heavy Electricals Limited (BHEL), Crompton Greaves, Hyundai Electric & Energy Systems, SPX Transformer Solutions, Hitachi Energy, Fuji Electric, Virginia Transformer, Howard Industries

Key Recent Developments

June 2024: GE Vernova wins major transformer supply contract for US renewable grid integration project.
July 2024: Hitachi Energy launches North American solid-state transformer R&D center targeting utility and e-mobility transformation.
August 2024: Siemens Energy and Hydro-Quebec partner for digital substation modernization across Quebec province.
September 2024: Eaton introduces high-efficiency transformer solutions for EV charging across key US cities.
October 2024: Schneider Electric secures utility-scale transformer supply agreement for solar-wind hybrid projects in Alberta, Canada.

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