The global power transformer market is expected to grow from $30.38 billion in 2025 to $41.62 billion in 2030, with a compound annual growth rate of 6.5%.

According to a report by MarketsandMarkets, the global power transformer market is expected to increase from $30.38 billion in 2025 to $41.62 billion in 2030, with a compound annual growth rate of 6.5% during the forecast period from 2025 to 2030.

The growth of the power transformer market is largely driven by the increasing demand for strengthening distribution and transmission infrastructure to meet the growing global electricity demand. In addition, the market benefits from the expansion and integration of renewable energy and significant investments in industrial development, driving the demand for efficient and high-capacity power transformers. A significant growth catalyst is the accelerated adoption of HVDC systems, which requires advanced transformer solutions to achieve long-distance and efficient power transmission, further driving the market during the forecast period.

Driven by a combination of economic, infrastructure, and policy related factors, the Asia Pacific region is expected to become the fastest-growing market for power transformers. The rapid industrialization and urbanization of major countries such as China and India, as well as Southeast Asian countries, have led to a sharp increase in electricity demand, driving large-scale investment in the expansion and modernization of power grid infrastructure.

The main market participants include Hitachi Energy, General Electric, Siemens, Mitsubishi Electric, Eaton Corporation, Hyundai Electric, Schneider Electric, Fuji Electric, Toshiba Energy Systems and Solutions, CG Power and Industrial Solutions, etc.