logo

Asia-Pacific Transformer Market Size (2024 - 2029)

The Asia-Pacific transformer market is poised for growth, driven by rising energy demands from industries and the expansion of transmission and distribution systems. Despite the moderate impact of COVID-19, the market has rebounded to pre-pandemic levels. Challenges such as project implementation delays may hinder progress, but advancements in smart grid technology present future opportunities for market expansion. China is anticipated to dominate the market due to its increasing electricity demand and the integration of renewable energy sources into its grid.

Home Market Analysis Energy & Power Research Power Research Power Transmission and Distribution Research Transformer Research Asia-Pacific Transformer Industry Market Size

Market Size of Asia-Pacific Transformer Industry

Asia-Pacific Transformer Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 4.50 %
Market Concentration Low

Major Players

Asia-Pacific Transformer Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Transformers Market Analysis

The Asia-Pacific Transformer Market is expected to rise at a CAGR of more than 4.5% during the forecast period.

COVID-19 moderately impacted the market in 2020. Currently. The market has reached pre-pandemic levels.

  • Factors such as increasing energy demands from the industries and expansion of transmission and distribution systems are likely going to drive the Asia-Pacific transformer market.
  • However, delay in the implementation of the projects is expected to restrain the Asia-Pacific transformer market.
  • A smart grid is a highly efficient and economical technology that can reduce carbon emissions. Such up-gradation for now existing networks in the region can create several opportunities for the Asia-Pacific Transformer Market in the future.
  • Due to its increasing demand for electricity and the rising renewable energy installation and connecting them to the country's grid, China is expected to be the largest market for Asia-Pacific transformers.

Asia-Pacific Transformers Industry Segmentation

A transformer is an electrical energy transfer device that either steps up or down the voltage from one alternating-current circuit to one or more other circuits.

The Asia-Pacific Transformer Market is segmented by power rating, cooling type, transformer type, and geography. By power rating, the market is segmented into small, medium, and large. By cooling type, the market is segmented into air-cooled and oil-cooled. By transformer type, the market is segmented into power transformers and distribution transformers. The report also covers the market size and forecasts for the transformer market across the major countries. For each segment, the market sizing and forecasts are based on the revenue (USD Billion).

Power Rating
Small
Large
Medium
Cooling Type
Air-Cooled
Oil-Cooled
Transformer Type
Power Transformer
Distribution Transformer
Geography
China
India
Japan
Rest of the Asia-Pacific
Need A Different Region Or Segment?
Customize Now

Asia-Pacific Transformer Market Size Summary

The Asia-Pacific transformer market is poised for significant growth, driven by increasing energy demands from industrial sectors and the expansion of transmission and distribution systems. The market has rebounded to pre-pandemic levels, with smart grid technologies offering new opportunities for efficiency and reduced carbon emissions. However, project implementation delays pose challenges to market growth. China is expected to lead the market due to its substantial electricity demand and renewable energy installations, which necessitate extensive grid connections. The region's rapid urbanization and industrialization, particularly in countries like India and Indonesia, are further propelling the expansion of transmission and distribution networks to meet growing energy needs.

The distribution transformer segment is anticipated to dominate the market, supported by infrastructure developments such as the construction of new substations and the installation of distribution transformers. China's burgeoning industrial activities and strategic government initiatives to enhance power supply in remote areas are key factors driving its market dominance. The country's significant share of Asia-Pacific's electricity generation underscores its pivotal role in the region's transformer market. Major industry players, including Siemens AG, ABB Ltd., and Mitsubishi Electric Corporation, are actively involved in the market, contributing to its fragmented yet competitive landscape.

Explore More

Asia-Pacific Transformer Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Force Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Power Rating

      1. 2.1.1 Small

      2. 2.1.2 Large

      3. 2.1.3 Medium

    2. 2.2 Cooling Type

      1. 2.2.1 Air-Cooled

      2. 2.2.2 Oil-Cooled

    3. 2.3 Transformer Type

      1. 2.3.1 Power Transformer

      2. 2.3.2 Distribution Transformer

    4. 2.4 Geography

      1. 2.4.1 China

      2. 2.4.2 India

      3. 2.4.3 Japan

      4. 2.4.4 Rest of the Asia-Pacific

Asia-Pacific Transformer Market Size FAQs

The Asia-Pacific Transformer Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)

Siemens AG, ABB Ltd., General Electric Company, Mitsubishi Electric Corporation and CG Power and Industrial Solutions Ltd. are the major companies operating in the Asia-Pacific Transformer Market.

APAC Transformer Market Report Snapshots

Asia Pacific Transformer Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)