Market Forecast By Core (Closed, Shell, Berry), By Product (Power Transformer, Distribution Transformer, Instrument Transformer, Others), By Winding (Two-Winding, Auto-Transformer), By Application (Residential & Commercial, Utility, Industrial), By Cooling (Dry-Type, Oil Immersed), By Phase (Single Phase, 3-Phase), By Rating (10 MVA, 11 MVA To 60 MVA, 61 MVA To 600 MVA, > 600 MVA), by Countries (United States, Canada) And Competitive Landscape
Product Code: ETC059318 | Publication Date: Dec 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
North America Transformer Market report thoroughly covers the market by Core, Product, Winding, Application, Cooling, Phase, Rating, and Countries. 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 Transformer Market is anticipated to register substantial growth on account of rising penetration towards the development of renewable sources of energy. Increasing industrialization backed by rising norms for the refurbishment of existing infrastructure with the latest technology beholds market growth. Additionally, the government's stringent norms in order to prevent power theft is also adding to the North America Transformer Market Share.
According to 6Wresearch, North America Transformer Market size is projected to register a CAGR of 4.10% during 2024-2030. The rising adoption of electric vehicles is further expected to energize the growth of the market. Moreover, the upsurging demand of electricity in mining, petrochemical, and manufacturing industries drives the North America Transformer Market Growth. Thr increase in renewable energy sources and the construction of new transmission and distribution lines will drive the market's growth. Additionally, the growing demand for energy-efficient solutions and increased industrialization will contribute to the market's expansion. The transformer market in North America is also facing significant challenges. The increasing competition from low-cost manufacturers in Asia, coupled with the need for high initial capital investments, pose significant challenges to the market. Additionally, the lack of skilled labor and insufficient infrastructure can act as a bottleneck to the market's growth.
Key players such as ABB Ltd., Siemens AG, and General Electric Company, among others, have made substantial investments in R&D to develop high-performance transformers. Moreover, these players are adopting various strategies like partnerships, collaborations, and acquisitions to enhance their market position.
The governments in North America are taking initiatives to support the transformer market's growth. For instance, the US government has launched several initiatives such as the American Recovery and Reinvestment Act to promote renewable energy and energy efficiency. Likewise, in Canada, the strategic carbon policy aims to reduce greenhouse gas emissions and promote clean energy solutions. Another notable development in the North America transformer market is the increasing adoption of smart transformers. With their advanced monitoring, control, and communication capabilities, smart transformers can optimize energy distribution and reduce emissions. Moreover, the integration of smart transformers with digital technologies like IoT and AI can open up new business opportunities for market players.
According to Dhaval, Research Manager, 6Wresearch, the outdoor segment is expected to grow substantially owing to the rising spending on infrastructure coupled with increasing demand for captive power generation.
The residential and commercial application segment has seen a significant growth in demand for transformers in recent years. The increased demand is attributed to the expanding construction industry in North America. The construction of new buildings and renovations of old structures have increased the demand for reliable power supply systems.
The report offers a comprehensive study of the subsequent market segments:
By Application
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 North America Transformer Market Overview |
3.1 North America Regional Macro Economic Indicators |
3.2 North America Transformer Market Revenues & Volume, 2023 & 2030F |
3.3 North America Transformer Market - Industry Life Cycle |
3.4 North America Transformer Market - Porter's Five Forces |
3.5 North America Transformer Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 North America Transformer Market Revenues & Volume Share, By Core, 2020 & 2030F |
3.7 North America Transformer Market Revenues & Volume Share, By Product, 2020 & 2030F |
3.8 North America Transformer Market Revenues & Volume Share, By Winding, 2020 & 2030F |
3.9 North America Transformer Market Revenues & Volume Share, By Application, 2020 & 2030F |
3.10 North America Transformer Market Revenues & Volume Share, By Cooling, 2020 & 2030F |
3.11 North America Transformer Market Revenues & Volume Share, By Phase, 2020 & 2030F |
3.12 North America Transformer Market Revenues & Volume Share, By Phase, 2020 & 2030F |
4 North America Transformer Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 North America Transformer Market Trends |
6 North America Transformer Market, 2020 - 2030 |
6.1 North America Transformer Market, Revenues & Volume, By Core, 2020 - 2030 |
6.2 North America Transformer Market, Revenues & Volume, By Product, 2020 - 2030 |
6.3 North America Transformer Market, Revenues & Volume, By Winding, 2020 - 2030 |
6.4 North America Transformer Market, Revenues & Volume, By Application, 2020 - 2030 |
6.5 North America Transformer Market, Revenues & Volume, By Cooling, 2020 - 2030 |
6.6 North America Transformer Market, Revenues & Volume, By Phase, 2020 - 2030 |
6.7 North America Transformer Market, Revenues & Volume, By Rating, 2020 - 2030 |
7 United States Transformer Market, 2020 - 2030 |
7.1 United States Transformer Market, Revenues & Volume, By Core, 2020 - 2030 |
7.2 United States Transformer Market, Revenues & Volume, By Product, 2020 - 2030 |
7.3 United States Transformer Market, Revenues & Volume, By Winding, 2020 - 2030 |
7.4 United States Transformer Market, Revenues & Volume, By Application, 2020 - 2030 |
7.5 United States Transformer Market, Revenues & Volume, By Cooling, 2020 - 2030 |
7.6 United States Transformer Market, Revenues & Volume, By Phase, 2020 - 2030 |
7.7 United States Transformer Market, Revenues & Volume, By Rating, 2020 - 2030 |
8 Canada Transformer Market, 2020 - 2030 |
8.1 Canada Transformer Market, Revenues & Volume, By Core, 2020 - 2030 |
8.2 Canada Transformer Market, Revenues & Volume, By Product, 2020 - 2030 |
8.3 Canada Transformer Market, Revenues & Volume, By Winding, 2020 - 2030 |
8.4 Canada Transformer Market, Revenues & Volume, By Appliation, 2020 - 2030 |
8.5 Canada Transformer Market, Revenues & Volume, By Cooling, 2020 - 2030 |
8.6 Canada Transformer Market, Revenues & Volume, By Phase, 2020 - 2030 |
8.7 Canada Transformer Market, Revenues & Volume, By Rating, 2020 - 2030 |
9 North America Transformer Market Key Performance Indicators |
10 North America Transformer Market - Opportunity Assessment |
10.1 North America Transformer Market Opportunity Assessment, By Countries, 2020 & 2030F |
10.2 North America Transformer Market Opportunity Assessment, By Core, 2020 & 2030F |
10.3 North America Transformer Market Opportunity Assessment, By Product, 2020 & 2030F |
10.4 North America Transformer Market Opportunity Assessment, By Winding, 2020 & 2030F |
10.5 North America Transformer Market Opportunity Assessment, By Application, 2020 & 2030F |
10.6 North America Transformer Market Opportunity Assessment, By Cooling, 2020 & 2030F |
10.7 North America Transformer Market Opportunity Assessment, By Phase, 2020 & 2030F |
10.8 North America Transformer Market Opportunity Assessment, By Rating, 2020 & 2030F |
11 North America Transformer Market - Competitive Landscape |
11.1 North America Transformer Market Revenue Share, By Companies, 2023 |
Market Forecast By Core (Closed, Shell, Berry), By Product (Power Transformer, Distribution Transformer, Instrument Transformer, Others), By Winding (Two-Winding, Auto-Transformer), By Application (Residential & Commercial, Utility, Industrial), By Cooling (Dry-Type, Oil Immersed), By Phase (Single Phase, 3-Phase), By Rating (10 MVA, 11 MVA To 60 MVA, 61 MVA To 600 MVA, > 600 MVA), by Countries (United States, Canada) And Competitive Landscape
Product Code: ETC059318 | Publication Date: May 2021 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
North America Transformer Market is projected to grow over the coming years. North America Transformer Market is a part of our various regional publications globally. 6W tracks Transformer Market for over 60 countries with individual country-wise market opportunity assessment and publishes the report titled Global Transformer Market outlook report annually.
North America Transformer Market report thoroughly covers market by Core, Product, Winding, Application, Cooling, Phase, Rating and Countries. The market report provides an unbiased and detailed analysis of the on-going 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 Transformer Market Synopsis
North America Transformer Market is anticipated to register substantial growth on account of rising penetration towards development of renewable sources of energy. Increasing industrialization backed by rising norms for the refurbishment of existing infrastructure with latest technology beholds the North America Transformer Market Growth. Additionally, the government stringent norms in order to prevent the power theft is also adding to the North America Transformer Market Share.
According to 6Wresearch, North America Transformer Market size is projected to register growth during 2021-2027. The rising adoption of electric vehicle is further expected to energize the growth of the market. Moreover, the upsurging demand of electricity in mining, petrochemical and manufacturing industries drives the North America Transformer Market Revenue. The outburst of the coronavirus pandemic has led to the decline in the growth of market owing to the disruption in supply chain. Additionally, the unplanned lockdown by the government hampered the on-going projects further declined the growth of Transformer Market in North America.
Market Analysis by Installation
On the basis of installation, the outdoor segment is expected to grow substantially owing to the rising spending on infrastructure coupled with increasing demand for captive power generation.
Other Related Reports:
Asia Pacific Transformer Market | Latin America Transformer Market |
Middle East Transformer Market | Europe Transformer Market |
Global Transformer Market | Africa Transformer Market |
Key Attractiveness of the Report
Key Highlights of the Report:
Market Scope and Segmentation
The report provides a detailed analysis of the following Market segments: