Who are the key players in Canada Transformer Market?

Siemens AG, Schneider Electric SE, Electric Power Inc, Northern Transformer Corporation and Eaton Corporation Inc are the major companies operating in the Canada Transformer Market. Read More

What years does this Canada Transformer Market cover, and what was the market size in 2023?

In 2023, the Canada Transformer Market size was estimated at USD 1.21 billion. The report covers the Canada Transformer Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada Transformer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Canada Transformer Market Size

Market Size of Canada Transformer Industry

Study Period	2019-2029
Base Year For Estimation	2023
Market Size (2024)	USD 1.30 Billion
Market Size (2029)	USD 1.79 Billion
CAGR (2024 - 2029)	6.57 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Canada Transformer Market Analysis

The Canada Transformer Market size is estimated at USD 1.30 billion in 2024, and is expected to reach USD 1.79 billion by 2029, growing at a CAGR of 6.57% during the forecast period (2024-2029).

Over the medium term, Canada's transformer market has been driven by the need to restructure and modernize the existing old grid infrastructure coupled with the increasing investment in construction activities due to increasing urbanization.

On the other hand, the market's growth is restrained by the delays in T&D grid expansion and refurbishment projects.

Nevertheless, the declining cost of renewable-based power generation is anticipated to enhance demand for T&D infrastructure expansion, providing an opportunity for those involved in transformer manufacturing and supply. Throughout the projection period, the Canadian transformer market's distribution transformer segment is anticipated to experience considerable expansion.

Canada Transformer Industry Segmentation

A transformer is an electrical device that transfers energy from one electric circuit to another using the electromagnetic induction principle. It is intended to change the AC voltage between the circuits while keeping the current's frequency constant.

The Canadian transformers market is segmented by power rating, cooling type, and transformer type. By power rating, the market is segmented into large, medium, and small. By cooling type, the market is segmented into oil-cooled and air-cooled). By transformer type, the market is segmented into power transformer and distribution transformer.

For each segment, the market sizing and forecasts have been done based on revenue (USD).

Power Rating
		Large
		Medium
		Small

Cooling Type
		Oil-Cooled
		Air-Cooled

Transformer Type
		Power Transformer
		Distribution Transformer

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Canada Transformer Market Size Summary

The Canadian transformers market is poised for significant growth over the forecast period, driven by the need to modernize and expand the aging grid infrastructure in response to increasing urbanization and electricity demand. The market is experiencing a shift towards renewable energy integration, with substantial investments in advanced grid infrastructure and renewable energy sources. This transition is expected to create substantial demand for distribution transformers, which play a crucial role in stepping down high voltage to normal voltage for efficient power distribution. The market is characterized by a variety of transformer types, including single-phase, three-phase, underground, pad-mounted, and pole-mounted transformers, catering to both commercial and industrial applications. Despite challenges such as delays in transmission and distribution grid expansion projects, the declining cost of renewable-based power generation presents opportunities for growth in the transformer manufacturing and supply sector.

The Canadian government's initiatives to support clean energy projects, particularly in rural and remote communities, are expected to further boost the demand for transformers. These efforts, coupled with technological advancements in transformer design to accommodate intermittent and distributed power generation, are enhancing the compatibility and efficiency of transformers in the evolving energy landscape. The market is moderately fragmented, with key players like Siemens AG, Schneider Electric SE, and Eaton Corporation Inc. actively participating in the sector. Recent acquisitions and strategic partnerships, such as RESA Power's acquisition of Exell Power Services and Integrated Power Services' acquisition of ABB's transformer repair businesses, highlight the dynamic nature of the market. As Canada continues to prioritize renewable energy and grid modernization, the transformers market is anticipated to witness robust growth, driven by both infrastructure upgrades and the integration of clean energy sources.

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Canada Transformer Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Market Size and Demand Forecast in USD, till 2029
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
    1. 1.5.1.1 Rising Electricity Demand and Grid Upgradation
    2. 1.5.1.2 Increasing Renewable Energy Sources
  2. 1.5.2 Restraints
    1. 1.5.2.1 Delays in T&D Grid Expansion
6. 1.6 Supply Chain Analysis
7. 1.7 PESTLE Analysis
2. MARKET SEGMENTATION
1. 2.1 Power Rating
  1. 2.1.1 Large
  2. 2.1.2 Medium
  3. 2.1.3 Small
2. 2.2 Cooling Type
  1. 2.2.1 Oil-Cooled
  2. 2.2.2 Air-Cooled
3. 2.3 Transformer Type
  1. 2.3.1 Power Transformer
  2. 2.3.2 Distribution Transformer