USD 10.4 billion
North America Oil Filled Transformer Market Size, Share, and Growth Analysis
North America Oil Filled Transformer Market By Core (Closed, Shell), By Product (Distribution transformer, Power transformer), By Winding, By Modes of Cooling, By Substation Connectivity, By Application- Industry Forecast 2025-2032
Report ID:
SQMIR10B2097 |
Region:
Regional |
Published Date: January, 2025
Pages:
178
|Tables:
87
|Figures:
70
Format -
North America Oil Filled Transformer Market Insights
North America Oil Filled Transformer Market size was valued at USD 10.4 billion in 2023 and is poised to grow from USD 11.17 billion in 2024 to USD 19.77 billion by 2032, growing at a CAGR of 7.4% during the forecast period (2025-2032).
The North America oil-filled transformer market is characterized by its steady growth and increasing demand for reliable power distribution solutions. Key drivers include the region's expanding infrastructure projects and the need for efficient electrical transmission and distribution systems. These transformers are widely used in a variety of applications, including industrial facilities, utilities, and renewable energy projects. Additionally, the growing emphasis on energy efficiency and environmental considerations has led to innovations in transformer technology.
Market players are focusing on developing eco-friendly and sustainable solutions to align with evolving regulations and customer preferences. This market is marked by competition among established manufacturers and emerging players, driving innovation and product enhancements to meet the evolving needs of North American industries.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Power transformers
Fastest Growth
Power transformers
Growth Rate
7.4% CAGR
North America oil filled transformer market ($ Bn)
Country Share for United States Region (%)
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North America Oil Filled Transformer Market Segments Analysis
North America Oil Filled Transformer Market is segmented by Core, Product, Winding, Modes of Cooling, Mounting, Rating, Substation Connectivity, Application and region. Based on Core, the market is segmented into Closed, Shell and Berry. Based on Product, the market is segmented into Distribution transformer, Power transformer, Instrument transformer and Others. Based on Winding, the market is segmented into Two winding and Auto-transformer. Based on Modes of Cooling, the market is segmented into Oil Natural Air Natural (ONAN), Oil Natural Water Forced (ONWF), Oil Natural Air Forced (ONAF) and Others. Based on Mounting, the market is segmented into Pad, Pole, Foundation and Others. Based on Rating, the market is segmented into ≤ 5 MVA, > 5 MVA to ≤ 10 MVA and > 10 MVA. Based on Substation Connectivity, the market is segmented into Distribution and Transmission. Based on Application, the market is segmented into Residential, Commercial & industrial and Utility. Based on Country, the market is segmented into US and Canada.
Analysis by Product
Power transformers emerge as the dominant product category. These transformers are crucial for high-voltage applications, electricity transmission, and large-scale industrial operations. Their dominance can be attributed to the constant need for upgrading and expanding electrical grids and the growing demand for efficient energy distribution systems across the region.
However, distribution transformers are experiencing the fastest growth in the North America oil-filled transformer market. This is primarily due to the increasing emphasis on decentralization of power generation, integration of renewable energy sources, and the need for enhancing energy efficiency at the distribution level. Distribution transformers are vital for stepping down voltage and delivering electricity to end-users efficiently, aligning with the region's efforts to modernize and optimize its power infrastructure.
Analysis by Application
The utility sector stands as the dominant application in the North America oil-filled transformer market. This prominence is rooted in the extensive use of oil-filled transformers within utility infrastructure for power generation, transmission, and distribution. Utilities heavily rely on these transformers to ensure efficient energy transmission across the region.
However, the residential & commercial segment is experiencing rapid growth in the North American oil-filled transformer market. This surge can be attributed to increased construction activities, urbanization, and the need for reliable power supply in residential and commercial buildings. As cities expand and commercial enterprises thrive, the demand for transformers to meet these burgeoning energy needs is on the rise.
North America oil filled transformer market by Product
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North America Oil Filled Transformer Market Regional Insights
The United States stands as the dominant region in the North America oil-stuffed transformer marketplace. This dominance is underpinned by means of several elements, consisting of its great infrastructure, strong commercial sectors, and a constantly growing call for for electrical strength distribution solutions. Major towns like Houston, Texas, and Los Angeles, California, play a pivotal position in riding this dominance. Houston's prominence in the power sector and Los Angeles' position in both industry and renewable electricity tasks make a contribution notably to america' leadership in the market.
However, Mexico is rising as the quickest-growing place inside the North America oil-filled transformer market. This boom is propelled by using Mexico's expanding business and manufacturing sectors, coupled with a surging call for for electricity. Cities like Monterrey and Mexico City are key drivers in the back of this trend. Monterrey's commercial base and Mexico City's growing urbanization and infrastructure development are spurring the call for for oil-crammed transformers as crucial additives of electricity distribution systems inside the united states. Additionally, the implementation of power reforms and investments in renewable energy tasks make a contribution to Mexico's fast marketplace increase.
North America oil filled transformer market by Region
- Largest
- Fastest
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North America Oil Filled Transformer Market Dynamics
Drivers
Growing Renewable Energy Integration
- The transition toward purifier and sustainable strength answers, consisting of wind and sun strength, is increasing the demand for transformers to facilitate the efficient transmission and distribution of this renewable electricity. This trend is mainly prominent within the United States and Canada, where renewable strength projects are on the upward push, driving the want for oil-stuffed transformers.
Restraints
Environmental Concerns and Regulations
- A tremendous restraint within the North America oil-filled transformer marketplace is the increasing scrutiny and regulation of environmental effect. Concerns over the use of oil in transformers, specially due to the capability for oil leaks and environmental pollutants, have brought about stricter policies and a growing desire for opportunity, green transformer technology. Compliance with these rules and the want to spend money on environmentally sustainable answers pose demanding situations for producers and customers of oil-crammed transformers inside the location.
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North America Oil Filled Transformer Market Competitive Landscape
The competitive landscape within the North America oil-filled transformer market is characterized with the aid of a various array of manufacturers and providers vying for marketplace percentage. These groups are engaged in a non-stop race to innovate and provide technologically superior solutions to fulfill the region's increasing call for electric strength distribution gadgets.
Market competitiveness is driven via factors such as product satisfactory, reliability, pricing, and environmental sustainability. With a focal point on assembly evolving regulations and customer preferences, organizations in this market are actively investing in research and development to expand green and efficient transformer solutions.Moreover, strategic collaborations, partnerships, and mergers and acquisitions play a pivotal role in shaping the competitive dynamics, as industry players seek to expand their reach and capabilities within North America's oil-filled transformer market.
Top Players in North America Oil Filled Transformer Market
- General Electric Company (USA)
- Schneider Electric SE (France)
- Eaton Corporation PLC (Ireland)
- Emerson Electric Co. (USA)
- Siemens Energy AG (Germany)
- Mitsubishi Electric Corporation (Japan)
- Toshiba International Corporation (USA)
- Hitachi, Ltd. (Japan)
- Elsewedy Electric S.A.E. (Egypt)
- Hyosung Heavy Industries Corporation (South Korea)
- LS ELECTRIC Co., Ltd. (South Korea)
- Northern Transformer Corporation (Canada)
- WEG S.A. (Brazil)
- MGM Transformer Company (USA)
- Celme S.r.l. (Italy)
- Kitashiba Electric Co., Ltd. (Japan)
- Lemi Trafo Transformers (Turkey)
- Ormazabal (Spain)
- Toshiba Corporation (Japan)
Recent Developments
- In November 2023, Hitachi Energy launched Liquid-filled Transformers with Transient Voltage Protection (TVP®) Technology.
- In May 2023, NCP Capital Partners (NCP) formed NCP Electrical Power LP to acquire a majority stake in the manufacturer WR Transformers Inc. (WR Transfo). NCP teamed up with WR Transfo's management to support the growth of this manufacturer and to tackle new markets in order to allow WR Transfo to become a North American leader in the electrical power transformation.
- In April 2023, Eaton acquired a significant stake in Chinese power distribution firm Jiangsu Ryan Electrical. The US power management company announced it has completed the acquisition of a 49% stake in Jiangsu Ryan Electrical Co. Ltd., a manufacturer of power distribution and sub-transmission transformers in China.
North America Oil Filled Transformer Key Market Trends
- Digitalization of Transformer Monitoring and Maintenance : A significant market trend in the North America oil-filled transformer industry is the increasing adoption of digitalization for transformer monitoring and maintenance. Companies are leveraging advanced sensors, data analytics, and remote monitoring technologies to enhance the performance, reliability, and lifespan of transformers. This trend is driven by the need for proactive maintenance, reduced downtime, and improved grid management, ultimately contributing to more efficient and reliable electrical distribution systems across the region.
North America Oil Filled Transformer Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to North America oil filled transformer market analysis, the market has exhibited resilience and steady growth in recent years. This is attributed to the region's ongoing infrastructure development, industrial expansion, and the integration of renewable energy sources into the power grid. The market is characterized by a competitive landscape, with manufacturers focusing on technological advancements, environmental sustainability, and compliance with evolving regulations. Looking ahead, the future of the North America oil-filled transformer market appears promising. The transition towards cleaner and more sustainable energy sources will continue to drive demand for transformers to support renewable energy projects. Additionally, the adoption of digitalization and smart grid technologies for monitoring and maintenance will become more prevalent, enhancing efficiency and reliability. However, the industry will face challenges related to environmental concerns, necessitating a shift towards eco-friendly transformer solutions. Collaboration and innovation will remain key strategies for market players as they navigate these dynamics and capitalize on emerging opportunities in the evolving energy landscape.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 10.4 billion |
| Market size value in 2032 | USD 19.77 billion |
| Growth Rate | 7.4% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on North America Oil Filled Transformer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on North America Oil Filled Transformer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the North America Oil Filled Transformer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the North America Oil Filled Transformer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the North America Oil Filled Transformer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the North America Oil Filled Transformer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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