North America Oil Filled Transformer Market (2025-2031) | Trends, Analysis, Companies, Forecast, Share, Value, Industry, Revenue, Growth, Outlook & Size

North America Oil Filled Transformer Market Highlights

Report Name	North America Oil Filled Transformer Market
Forecast period	2025-2031
Forecast Size	USD 6.12 billion by 2031
CAGR	12.2%
Growing Sector	Energy and Power

Topics Covered in the North America Oil Filled Transformer Market Report

North America Oil Filled Transformer Market report thoroughly covers the market By Countries, by core, By product, By winding, by installation, by modes of cooling, by phase, by mounting, by rating. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

North America Oil Filled Transformer Market Size Analysis

North America Oil Filled Transformer Market was valued at USD 3.03 billion and is expected to reach USD 6.12 billion, growing at a CAGR of around 12.2% from 2025 to 2031. Oil-filled transformers, also known as liquid-immersed transformers, are power transformers that use an insulating oil such as mineral oil, silicone-based fluid, or vegetable oil to provide cooling and insulation. These transformers are widely used in various industries including power generation, transmission, and distribution networks.

North America Oil Filled Transformer Market Synopsis

North America oil-filled transformer market is expected to witness significant growth in the coming years due to various factors such as increasing demand for electricity and investments in transmission and distribution infrastructure.

According to 6Wresearch, the North America Oil Filled Transformer Market Size is expected to reach a significant CAGR of 12.2% during the forecast period 2025-2031. The The rising population and rapid industrialization in North America have significantly increased the demand for electricity, creating a need for efficient and reliable power transmission and distribution systems. This has driven the demand for oil-filled transformers, with governments and utility companies heavily investing in infrastructure upgrades to meet growing electricity needs. As existing transformers age, there is an increasing requirement for replacement or refurbishment, further driving demand for new oil-filled transformers. Technological advancements, such as smart grids and renewable energy integration, are encouraging the adoption of more sophisticated oil-filled transformers equipped with sensors for improved monitoring and maintenance.

However, the high cost of installation and replacement of transformers, along with environmental concerns over mineral oil use, may limit market growth. This has led to a shift towards biodegradable oils, which are more expensive. Additionally, the growing emphasis on renewable energy is fostering a shift towards dry-type or cast resin transformers, which may hinder the growth of the oil-filled transformer market.

Oil Filled Transformer Market in North America- Novel Trends

One of the emerging trends in the power distribution sector is the widespread adoption of smart grids. These advanced systems incorporate cutting-edge technologies, including sensors, communication networks, and data analytics, to enhance the efficiency, reliability, and sustainability of electricity distribution. Oil-filled transformers are integral to the functionality of smart grids, as they are responsible for stepping up or down voltage levels to facilitate efficient transmission across the grid. Additionally, there is a noticeable shift in the market towards environmentally conscious and energy-efficient transformers. Manufacturers are increasingly focusing on developing transformers that minimize environmental impact. This includes the use of biodegradable oils as a substitute for conventional mineral oils, reflecting the industry's commitment to reducing its carbon footprint and promoting eco-friendly practices in power distribution. These innovations collectively contribute to more sustainable and efficient power systems.

Investment Opportunities in North America Oil Filled Transformer Industry

The North American oil-filled transformer market is poised for substantial growth between 2025 and 2031, driven by the rising demand for clean, reliable energy and the growing investments in renewable energy infrastructure. Additionally, government initiatives focused on modernizing existing power grids and the increasing adoption of smart grid technology are expected to further stimulate market expansion. Investors can benefit from this emerging market by targeting companies that specialize in manufacturing and supplying oil-filled transformers. Opportunities also exist in the development of innovative technologies and in offering maintenance and repair services for these transformers. With the transition to renewable energy sources, the demand for efficient and reliable power transmission is intensifying, making the North American oil-filled transformer market an attractive investment opportunity. As technological advancements and sustainability efforts continue, there is ample scope for the creation of eco-friendly, energy-efficient transformers, presenting further avenues for investors. This dynamic market offers a broad spectrum of opportunities for long-term growth.

Leading Players Expanding the North America Oil Filled Transformer Market Share

The North America oil filled transformer market is highly competitive, with several key players constantly striving to gain a larger market share. Some of the leading players expanding their presence and influence in this region include ABB Ltd., Siemens AG, Schneider Electric SE, General Electric Company, and Eaton Corporation Plc. These companies have been investing heavily in research and development to develop innovative products that cater to the evolving needs of the industry. They also focus on strategic partnerships and collaborations to enhance their market reach and distribution channels. Moreover, these companies are actively involved in mergers and acquisitions to expand their product portfolio and strengthen their position in the market. With the growing demand for renewable energy and increasing investments in smart grid infrastructure, these leading players are expected to further expand their market share in the North America oil filled transformer market in the coming years. Their emphasis on sustainability and eco-friendly solutions has also helped them gain a competitive edge over other players, making them key contributors to the growth of this market. With their strong technological expertise and customer-centric approach, these companies are well-positioned to continue expanding their market share and drive innovation in the North America oil filled transformer market.

Government Regulations for Effective Market Performance

Governments across North America are implementing increasingly stringent regulations aimed at improving energy efficiency and promoting environmental sustainability. These regulations directly affect the production and usage of oil-filled transformers by setting strict standards to reduce carbon emissions and encouraging the shift towards alternative energy sources. In response, manufacturers are investing in the development of more energy-efficient and environmentally friendly transformers that meet these regulatory requirements. Furthermore, governments play a pivotal role in maintaining a competitive market by enforcing trade policies and tariffs, which ensures fair competition among manufacturers. This regulatory framework fosters a balanced market environment, ultimately benefiting consumers. Additionally, government-led initiatives to modernize aging electrical infrastructure are driving up the demand for oil-filled transformers in the region. As such, government regulations will continue to have a profound impact on the North American oil-filled transformer market, influencing both its performance and growth in the years to come.

Future Insights of the North America Oil Filled Transformer Market Growth

The North American oil-filled transformer market is poised for substantial growth in the coming years, driven by several key factors. Increasing electricity demand, rapid industrialization, and technological advancements in the power sector are contributing to this growth. As the focus on renewable energy sources intensifies, the need for efficient power transmission and distribution systems is rising, further propelling the demand for oil-filled transformers. Additionally, government initiatives aimed at modernizing aging grid infrastructure, along with investments in smart grid technologies, are expected to support market expansion. Despite challenges such as stringent environmental regulations and concerns over mineral oil leakage, innovations in environmentally friendly alternatives and smart transformers are likely to create lucrative opportunities. The growing trend of grid modernization, alongside the increasing adoption of renewable energy, will continue to drive demand. Advancements in digital technologies and IoT integration in transformer systems are also set to revolutionize the industry, enhancing monitoring and control capabilities.

Market Segmentation Analysis

The report offers a comprehensive study of the subsequent market segments and their leading categories.

United States to Dominate the Market- By Countries

The United States is expected to lead the North America oil filled transformer market due to its significant investment in modernizing existing power infrastructure and increasing use of renewable energy sources. Canada is also likely to see a steady growth in this market thanks to its efforts towards reducing carbon emissions through the adoption of eco-friendly power distribution technologies.

Closed Core Type to dominate the Market-By Core Type

According to Ravi Bhandari, Research Head, 6Wresearch, closed core transformers are expected to dominate the market due to their higher efficiency and lower maintenance costs compared to other types such as shell and berry cores. In terms of product type, power transformers are anticipated to lead the market due to their high voltage capacity and crucial role in electricity transmission. Distribution transformers will also see a significant rise in demand as they are widely used for power distribution in industries and urban areas.

The Two-winding transformer segment to dominate the Market – By Winding

The two-winding transformer segment is likely to hold the largest share in the winding type category, owing to its widespread use in various applications such as industrial plants, commercial buildings, and power generation stations. However, auto transformers are expected to see a steady growth due to their compact design and reduced overall cost.

Outdoor transformer to dominate the Market – by Installation method

Outdoor transformers are projected to dominate the market due to their high reliability and ability to withstand harsh weather conditions. On the other hand, indoor transformers will also see an increase in demand as they offer more space-saving options and ensure safety in confined spaces.

ONAN to dominate the Market – By Modes of Cooling

ONAN (oil natural air natural) is anticipated to hold the largest share in the North America oil filled transformer market due to its simple and cost-effective design. However, increasing awareness towards environmental protection and energy efficiency is expected to drive the adoption of alternatives such as ONWF (oil natural water forced) and ONAF (oil natural air forced).

The Three-phase transformer segment to Dominate the Market – By Phase Type

The three-phase transformer segment is expected to lead the market as they are widely used for power distribution and transmission in industrial and commercial facilities. The single-phase transformer segment will also see a significant growth due to its use in residential areas and small commercial units.

Pad-Mounted Transformers to Dominate the Market - By Mounting Style

Pad-mounted transformers are likely to dominate the North America oil filled transformer market as they offer easy installation and maintenance, making them suitable for both indoor and outdoor applications. Pole-mounted transformers will also see an increase in demand due to their ability to provide electricity supply over long distances.

<5 MVA Transformers to Dominate the Market – By Rating

Lastly, by rating, <5 MVA (Mega Volt Amp) transformers are expected to hold the largest share in the market due to their use in small-scale commercial and residential applications. However, with increasing electricity demand and industrial expansion, the >10 MVA segment is projected to see a significant growth as these transformers are used for high-power transmission and distribution.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2021 to 2024.
• Base Year- 2024
• Forecast Data until 2031.
• Key Performance Indicators Impacting the Market.
• Factors Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• North America Oil Filled Transformer Market Outlook
• Market Size of North America Oil Filled Transformer Market, 2024
• Forecast of North America Oil Filled Transformer Market, 2031
• Historical Data and Forecast of North America Oil Filled Transformer Revenues & Volume for the Period 2021 - 2031
• North America Oil Filled Transformer Market Trend Evolution
• North America Oil Filled Transformer Market Drivers and Challenges
• North America Oil Filled Transformer Price Trends
• North America Oil Filled Transformer Porter's Five Forces
• North America Oil Filled Transformer Industry Life Cycle
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Core for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Closed for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Shell for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Berry for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Core for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Closed for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Shell for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Berry for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Core for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Closed for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Shell for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Berry for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Product for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Distribution Transformer for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Power Transformer for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Instrument Transformer for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Product for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Distribution Transformer for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Power Transformer for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Instrument Transformer for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Product for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Distribution Transformer for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Power Transformer for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Instrument Transformer for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Winding for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Two Winding for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Auto Transformer for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Winding for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Two Winding for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Auto Transformer for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Winding for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Two Winding for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Auto Transformer for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Installation for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Outdoor for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Indoor for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Installation for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Outdoor for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Indoor for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Installation for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Outdoor for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Indoor for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Modes of Cooling for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By ONAN for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By ONWF for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By ONAF for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Modes of Cooling for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By ONAN for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By ONWF for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By ONAF for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Modes of Cooling for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By ONAN for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By ONWF for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By ONAF for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Phase for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Three for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Single for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Phase for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Three for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Single for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Phase for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Three for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Single for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Mounting for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Pad for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Pole for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Foundation for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Mounting for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Pad for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Pole for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Foundation for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Mounting for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Pad for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Pole for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Foundation for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Others for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By Rating for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By < 5 MVA for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By 5 MVA - 10 MVA for the Period 2021 - 2031
• Historical Data and Forecast of North America Oil Filled Transformer Market Revenues & Volume By > 10 MVA for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By Rating for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By < 5 MVA for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By 5 MVA - 10 MVA for the Period 2021 - 2031
• Historical Data and Forecast of United States Oil Filled Transformer Market Revenues & Volume By > 10 MVA for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By Rating for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By < 5 MVA for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By 5 MVA - 10 MVA for the Period 2021 - 2031
• Historical Data and Forecast of Canada Oil Filled Transformer Market Revenues & Volume By > 10 MVA for the Period 2021 - 2031
• North America Oil Filled Transformer Market - Key Performance Indicators
• North America Oil Filled Transformer Market - Import Export Trade Statistics
• North America Oil Filled Transformer Market - Opportunity Assessment By Countries
• North America Oil Filled Transformer Market - Opportunity Assessment By Core
• North America Oil Filled Transformer Market - Opportunity Assessment By Product
• North America Oil Filled Transformer Market - Opportunity Assessment By Winding
• North America Oil Filled Transformer Market - Opportunity Assessment By Installation
• North America Oil Filled Transformer Market - Opportunity Assessment By Modes of Cooling
• Market Opportunity Assessment By Phase
• Market Opportunity Assessment By Mounting
• Market Opportunity Assessment By Rating
• North America Oil Filled Transformer Market - Top Companies Market Share
• North America Oil Filled Transformer Market - Top Companies Profiles
• North America Oil Filled Transformer Market - Comparison of Players in Technical and Operating Parameters
• North America Oil Filled Transformer Market - Strategic Recommendations

Markets Covered

The market report has been segmented and sub-segmented into the following categories:

By Countries

• United States
• Canada

By Core

• Closed
• Shell
• Berry

 By Product

• Distribution Transformer
• Power Transformer
• Instrument Transformer
• Others

By Winding

• Two Winding
• Auto Transformer

By Installation

• Outdoor
• Indoor

By Modes of Cooling

• ONAN
• ONWF
• ONAF
• Others

 By Phase

• Three
• Single

 By Mounting

• Pad
• Pole
• Foundation
• Others

 By Rating

• < 5 MVA
• 5 MVA - 10 MVA
• >10 MVA