$3450
$2760
The Americas transformers market size is projected to reach US$ 17.47 billion by 2031 from US$ 11.74 billion in 2024. The market is expected to register a CAGR of 5.96% during 2025–2031.
Americas Transformers Market Analysis
Rising electricity demand, the presence of aging grid infrastructure, and government initiatives on reducing carbon footprints are driving the market growthAmericas. There is a surging product development by manufacturers and an expansion of the energy and power industries. Research and development activities are in progress, manufacturers are focusing on developing eco-friendly transformers, and there is a shift toward local manufacturing and SF?-free designing. Additionally, demand for smart transformers, growing adoption of electric vehicles (EVs), and rising demand for compact and modular transformers are expected to create opportunities in the market.
Americas Transformers Market Overview
Transformers transfer energy between two or more circuits through electromagnetic induction, primarily used to increase (step-up) or decrease (step-down) voltage levels in power systems. They play a vital role in the generation, transmission, and distribution of electricity, ensuring efficient power delivery over long distances while minimizing energy losses. Transformers are widely used in industries, commercial buildings, and renewable energy systems such as solar and wind farms. The key benefits of transformers include improved energy efficiency, voltage regulation, enhanced safety, and reliability in power supply. The growing demand for electricity and rapid industrialization are major driving factors.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Americas Transformers Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Americas Transformers Market Drivers and Opportunities
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Americas Transformers Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Market Drivers:
Rising Electricity Demand due to Industrialization:
Countries such as the US, Canada, Mexico, and Brazil are showing an increased per?capita electricity usage. According to the U.S. Energy Information Administration data of August 2025, the US electricity demand in the lower 48 states exceeded previous peaks on two days in the last week of July.Revamping Aging Infrastructure to Strengthen Energy Networks:
The aging infrastructure is approaching or has exceeded its intended lifespan. Transformers, circuit breakers, and transmission lines are becoming increasingly prone to failure, leading to costly blackouts and maintenance challenges.Strengthening Environmental Regulations Fostering Market Development:
Governments in North America and South & Central America are placing strong emphasis on reducing carbon footprints through improved grid efficiency and the integration of renewable energy systems.Expansion of Industrial Loads:
Expansion of industrial loads—including automation, data centres, and electric vehicle charging networks—requires reliable power distribution and thus more transformer capacity.Digitalisation of Manufacturing & Supply Chain:
Digitalisation of manufacturing & supply chain (Industry 4.0) in transformer production and services—including predictive maintenance and remote diagnostics—is done to improve efficiency and reliability.
Market Opportunities:
Demand for Smart Transformers:
Smart transformers play a crucial role in modernizing power grids and supporting the transition to more resilient and efficient energy systems.Rise in Adoption of Electric Vehicles (EVs):
With a shift toward sustainable transportation to combat climate change and reduce carbon emissions, electric vehicles (EVs) have become a central focus of this transition.Industrial Requirement for Modular and Compact Transformers:
Advancements in technology and efficient power management solutions raise the demand for reliable, space-saving, and flexible transformers.Digitalisation of Transformers:
Increasing deployment of smart transformers with sensors, connectivity, monitoring, and analytics.Rising Demand for Distribution Transformers:
Rising demand for distribution transformers due to growth in EV charging infrastructure, smart buildings, and residential electrification.
Americas Transformers Market Report Segmentation Analysis
The Americas transformers market is divided into different segments to give a clearer view of how it works, its growth potential, and the latest trends. Below is the standard segmentation approach used in most industry reports:
By Type:
Power Transformer:
The growing demand for power transformers is driven by expanding power generation capacity, rapid industrialization, and increasing investments in renewable energy and smart grid infrastructure, which require efficient and reliable high-voltage transmission systems in Americas.Distribution Transformer:
The integration of renewable energy systems and smart grids boosts demand for modern, energy-efficient distribution transformers.Instrument Transformer:
Increasing adoption of renewable energy and industrial automation further supports their demand, as precise monitoring is vital for efficiency and fault detection in modern power systems.Others:
Advancements in electric mobility and renewable integration have expanded applications requiring customized transformer solutions.
By Voltage Range:
Up to 33kV:
Up to 33 (kilovolts) kV transformers are primarily used in sub-transmission networks to step down voltage from higher transmission levels to distribution levels suitable for industrial, commercial, and residential consumption.33 kV to 200 kV:
They are critical for supplying electricity to large industrial plants, commercial hubs, and urban centers with high energy consumption.Above 200 kV:
Government investment in smart grid projects also accelerates the demand for above 200 kV transformers.
By Power Rating:
- Below 100 MVA
- 100 to 275 MVA
- 275 to 500 MVA
By Application:
- Utilities
- Renewable Integration
- Industrial
- Commercial
- Infrastructure
- Others
By Cooling Type:
- Liquid Immersed
- Oil Cooled
- Dry Type
By Phase:
- Single Phase
- Three Phase
By Geography:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Americas North America is expected to witness the fastest market growth. Rapid urbanization, digitalization, and growing demand for electricity are some of the growth factors.
Market Report ScopeAmericas Transformers Market Share Analysis by Geography
The market in North America is expected to grow the fastest in the next few years. Emerging markets in South & Central America also have many untapped opportunities for transformer providers.
The Americas transformers market grows differently in each region owing to digital technology, government rules, expanding grid industry, and businesses' focus on sustainability. Below is a summary of market share and trends by region:
1. North America
Market Share:
Holds a significant portion of the global marketKey Drivers:
- Grid modernization and infrastructure upgrade
- Rising renewable energy integration demand
- Expansion of electric vehicle networks
Trends:
Technological advancements in smart transformers
2. South and Central America
Market Share:
Growing market with steady progressKey Drivers:
- Modernization of aging power infrastructure
- The government’s focus on energy reliability
Trends:
Foreign investments in power utilities
Americas Transformers Market Players Density: Understanding Its Impact on Business Dynamics
High Market Density and Competition
Competition is strong due to the presence of established players such as GE Vernova Inc., ABB Ltd, and HD Hyundai Electric Co., Ltd. Regional and niche providers such as WEG SA (Brazil), Alstom SA (France), and Mitsubishi Electric Corp (Japan) are also adding to the competitive landscape across different regions.
This high level of competition urges companies to stand out by offering:
- High-efficiency and compact transformer designs
- Customized solutions tailored for renewable integration, smart grids, and specific industrial or utility applications
- Cost-effective manufacturing and pricing strategies
- Comprehensive after-sales services and digital monitoring capabilities
Opportunities and Strategic Moves
- Utilities and industrial players are increasingly partnering with digital monitoring, analytics, and grid management solution providers to enhance transformer efficiency, grid reliability, and predictive maintenance capabilities, especially in renewable integration and urban power distribution projects.
- Manufacturers are shifting toward smart and connected transformer systems, combining IoT-based condition monitoring, advanced insulation materials, and real-time diagnostics with cloud-based asset management platforms.
- Modular, compact, and retrofit-friendly transformer designs are gaining traction, enabling utilities and industries to upgrade existing substations or distribution networks without full replacement.
Major Companies operating in the Americas Transformers Market are:
- WEG SA (Brazil)
- Eaton Corporation plc (Ireland)
- ABB Ltd (Switzerland)
- HD Hyundai Electric Co., Ltd. (South Korea)
- TOSHIBA CORPORATION (US)
- Alstom SA (France)
- Mitsubishi Electric Corp (Japan)
- GE Vernova Inc. (US)
- Hitachi Energy Ltd (Switzerland)
- Siemens Energy AG (Germany)
Disclaimer: The companies listed above are not ranked in any particular order.
Other companies analysed during the course of research:
- Howard Industries, Inc.
- CES Transformers
- DAELIM INC
- Pacific Transformer Corporation
- Hammond Power Solutions Inc.
- Altran Corporation
- Fuji Electric Co., Ltd.
- Hubbell Incorporated
- ENF Ltd.
- Pfiffner Group
Americas Transformers Market News and Recent Developments
ABB Announces an Investment of US$ 120 million in the United States
In March 2025, ABB announced today that it will invest US$120 million in the US to expand the production capacity of its low-voltage electrification products. The investment will enable ABB to meet increasing demand from customers in a wide range of key growth industries, including data centers, buildings and utilities.HD Hyundai Electric to Supply 24 Ultra-High Voltage Transformers and Reactors to a Major Power Company in Texas
In September 2025, HD Hyundai Electric has announced a record-breaking contract to supply 24 ultra-high voltage transformers and reactors to a major power company in Texas. The deal, valued at 277.8 billion won (approximately $199 million USD), marks the largest single order in the company’s history. The order includes 765kV transformers, the highest voltage class used in the US. These high-capacity units are essential for long-distance power transmission with reduced energy loss and infrastructure costs. They are expected to be delivered in 2029.
Americas Transformers Market Report Coverage and Deliverables
The "Americas Transformers Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Americas Transformers Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Americas Transformers Market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Americas Transformers Market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Americas Transformers Market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global Americas transformers market was valued at US$ 11.74 billion in 2024 and is expected to reach US$ 17.47 billion by 2031
Some of the major applications of transformers include:
1. Utilities
2. Renewable integration
3. Industrial
4. Commercial
5. Infrastructure
6. Others
Key cooling types driving the demand for transformers include:
1. Liquid immersed
2. Oil cooled
3. Dry type
The main trends include:
1. Manufacturers focus on developing eco-friendly transformers
2. Shift toward local manufacturing and SF₆-free designing
3. Advancement in material technology
The market is projected to register a CAGR of 5.96% during 2025–2031, depending on the region and subsegment, such as power transformer, distribution transformer, instrument transformer, and others.
1. Demand for smart transformers
2. Rise in adoption of electric vehicles (EVs)
3. Industrial requirement for modular and compact transformers
The Americas transformers market is set to gain notable advantages due to the global push toward green mobility and sustainability, which is driving the demand for transformers in various sectors within the energy and power industries.
North America leads in market share, and South & Central America—especially Brazil—is witnessing the fastest growth due to the growing electricity demand.
The List of Companies - Americas Transformers Market
- ABB Ltd
- HD Hyundai Electric Co., Ltd.
- Toshiba International Corporation
- Alstom SA
- Mitsubishi Electric Power Products, Inc.
- GE Vernova
- Hitachi Energy Ltd.
- Siemens Energy
- WEG SA
- Eaton Corporation Plc
- Hyosung Heavy Industries
- BHEL
- Schneider Electric SE
- Hammond Power Solutions
- Tadeo Czerweny
- Virginia Transformer Corp.,
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Americas Transformers Market
Nov 2025
Parallel SLC NAND Flash Memory Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Density (Above 8 GB, 8 GB, 4 GB, 2 GB, and 1 GB), Application (Industrial, Automotive, Consumer Electronics, Computers and IT, Communication, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Nov 2025
Serial SLC NAND Flash Memory Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Density (1GB, 2GB, 4GB, 8GB, and Above 8GB); Application (Automotive, Industrial, Communication, Computers and IT, Consumer Electronics, and Others); and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Nov 2025
Vertical Carousels ASRS Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Assembly, Distribution, Kitting, Order Picking, Storage, and Others), End use Industry (Automotive, Food and Beverages, Electronic and Semiconductors, E-Commerce, Chemicals, Aerospace, Retail, Pharmaceuticals and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Nov 2025
Unit Load ASRS Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Assembly, Distribution, Kitting, Order Picking, Storage, Others), End Use Industry (Automotive, Food & Beverage, Electronic & Semiconductors, E-commerce, Chemicals, Aerospace, Retail, Pharmaceutical, Others), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Nov 2025
Mini Load ASRS Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Storage, Order Picking, Distribution, Kitting, Assembly, and Others), End Use Industry (Automotive, Food & Beverages, Electronics & Semiconductor, E-Commerce, Chemicals, Aerospace, Retail, Pharmaceuticals, and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Nov 2025
Horizontal Carousels ASRS Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type Type (Assembly, Distribution, Kitting, Order Picking, Storage, and Others), End-Use Industry (Automotive, Food & Beverage, Electronic & Semiconductors, E-commerce, Chemicals, Aerospace, Retail, Pharmaceutical, and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Nov 2025
AutoStore ASRS Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Assembly, Distribution, Kitting, Order Picking, Storage, and Others), End-Use Industry (Automotive, Food and Beverages, Electronic and Semiconductors, E-Commerce, Chemicals, Aerospace, Retail, Pharmaceuticals, and Others), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)
Nov 2025
Board-to-Board EV Connectors Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Sealed Connector System and Unsealed Connector System), Application (ADAS and Safety System, Body Controls and Interior, Infotainment System, Engine Management and Powertrain, Battery Management System, Vehicle Lighting, and Others), Propulsion Type (Battery Electric Vehicle, Plug-In Hybrid Vehicle, Fuel Cell Electric Vehicle, and Hybrid Electric Vehicle), Voltage (Low Voltage, Medium Voltage, and High Voltage), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America)