Report Code: CMI56791

Published Date: September 2024

Pages: 320+

Category: Industrial Automation And Equipment

Reports Description

As per the current market research conducted by the CMI Team, the US Oil Filled Transformer Market is expected to record a CAGR of 5.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 12,790.8 Million. By 2033, the valuation is anticipated to reach USD 20,185.6 Million.

The U.S. oil-filled transformer market involves transformers that use oil for cooling and insulation, essential for reliable power distribution and grid stability. Significant demand in this market is a result of urbanization, industrial growth, and infrastructure upgrades. Recent trends include the adoption of smart grid technologies, renewable energy integration, and advancements in energy efficiency.

Key players are investing in innovative designs and expanding production capabilities to meet evolving needs. Challenges such as supply chain disruptions and regulatory changes impact the market, but ongoing modernization efforts and technological advancements are expected to drive growth and enhance market dynamics.

US Oil Filled Transformer Market – Significant Growth Factors

The US Oil Filled Transformer Market presents significant growth opportunities due to several factors:

  • Infrastructure Upgrades: Substantial procurement of advanced and increasing old power transmission structures in the U. S. is pressurizing the demand for oil-filled transformers, accounting for increased grid reliability and transfer capacity.
  • Renewable Energy Integration: The penetration of fluctuating renewable energy, like wind and solar, into the power grid system, demands sophisticated oil-immersed transformers to address the unstable power output from the renewable energy plants.
  • Technological Advancements: New ideas in transformer designs such as smart transformers, real-time monitoring, and advanced cooling systems, among others, are helping push the market forward by enhancing efficiency and performance.
  • Smart Grid Development: The market for oil-filled transformers has a prospect for adopting new technologies since the growth of the smart grid is ongoing and integrating new features in the transformer will improve its utility and market demand.
  • Sustainability Initiatives: Leaving aside the fact that there is certain unpredictability of the transformer market amid fluctuating oil prices, it is possible to consider the direction of environmental protection and the rational use of energy resources as the opportunities for the development and promotion of new transformer products that are more environmentally friendly and have a higher energy efficiency factor.

US Oil Filled Transformer Market – Key Developments

The US Oil Filled Transformer Market has seen several key developments in recent years, with companies seeking to expand their market presence and leverage synergies to improve their offerings and profitability. Some notable examples of key developments in the US Oil Filled Transformer Market include:

  • In 2023, Schneider Electric acquired Celme, the transformer manufacturer. This procurement is expected to strengthen Schneider Electric’s position in the European transformer market, enhancing its capabilities and market presence in the region.
  • In 2022, Petrol Ofisi and Chevron Lubricants signed an agreement in Turkey, allowing Petrol Ofisi to manufacture and sell Chevron Lubricants products under the Texaco brand. This partnership aims to expand Petrol Ofisi’s product portfolio in the lubricants market.
  • In 2022, Cargill announced a partnership with Delta Star Inc. to offer dielectric fluids services in the United States. This collaboration aims to enhance the provision of high-quality dielectric fluids for electrical equipment, improving performance and reliability in the market.

These key developments have helped companies expand their offerings, improve their market presence, and capitalize on growth opportunities in the US Oil Filled Transformer Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

US Oil Filled Transformer Market Hydraulic Motors Market Oil Immersed Power Transformer Market
CAGR 5.2% (Approx) CAGR 5% (Approx) CAGR 5.4% (Approx)
USD 20,185.6 Million by 2033 USD 19,802.8 Million by 2033 USD 36,307.6 Million by 2033

US Oil Filled Transformer Market – Significant Threats

The US Oil Filled Transformer Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Supply Chain Disruptions: Ongoing disruptions in global supply chains can lead to delays in raw material availability and increased production costs, impacting the timely delivery and affordability of oil-filled transformers.
  • Regulatory Challenges: Stringent environmental regulations and compliance requirements for oil-filled transformers, such as those related to the use of insulating oils and disposal, can increase operational costs and complexity for manufacturers.
  • Technological Obsolescence: Rapid advancements in transformer technology and alternative cooling solutions could render existing oil-filled transformers less competitive, posing a threat to market share if companies do not innovate.
  • Economic Uncertainty: Economic fluctuations and downturns can lead to reduced investments in infrastructure projects, resulting in lower demand for oil-filled transformers and impacting overall market growth.
  • Environmental Risks: The environmental impact of oil-filled transformers, including potential risks of oil leaks and contamination, can lead to increased scrutiny and regulatory pressure, affecting market acceptance and operational practices.

Category-Wise Insights

By Core:

  • Berry Core: Berry core transformers use a core made from a stack of thin, laminated sheets arranged in a “berry” or multiple-layer configuration. This design aims to reduce core losses and improve efficiency. Berry core segment is on the rise due to growth in core materials and in the fabrication technologies to support them. To respond to the ever-growing demand for energy-efficient transformers, an innovation in the form of berry core designs has been made in the U. S. market.
  • Closed Core: Closed core transformers feature a core design where the magnetic flux path is fully enclosed, often using a circular or rectangular core. This design reduces the magnetic flux leakage and subsequently improves the efficiency of the system. The closed core design is admired for its reasonable sizes and high efficiency. Advanced in core and applying techniques are improving the ability of closed core transformers, which in turn has led to growing usage in applications with high demands for efficiency and reliability.
  • Shell Core: Shell core transformers have a core design where the magnetic core encases the windings, providing improved magnetic flux control and reduced losses. This design is particularly remarkable for the performance and efficiency with which it operates. Shell’s core segment is also showing signs of growth because it achieved a reasonable reduction of core losses and higher performance rates.

By Product Type

  • Instrument Transformer: Instrument transformers are primarily employed in electrical systems for measurements and protection applications with accurate signals of voltage and currents for monitoring equipment and control systems. The market for U. S. instrument transformers is expanding due to the high demand for enhanced accuracy in the monitoring and control mechanisms.
  • Distribution Transformer: Distribution transformers are used to step down high-voltage electricity from transmission lines to a lower voltage suitable for end-user consumption in residential, commercial, and industrial areas. The current trend for distribution transformers in the U. S. is, popularly, urbanization expansion and infrastructure development. Existing technologies target increasing efficiency, decreasing losses, and connecting with renewable energies for the betterment of grid stability and performance.
  • Power Transformer: Power transformers are large transformers used in high-voltage substations and transmission networks to step up or step down voltage levels for long-distance electricity transmission and distribution. Programs for infrastructure modernization and expansion have an impact on power transformers used in the American market. The trends are shifting towards high carrying capacity, efficient, cooler, and smart transformers to fulfill the increasing power requirement and enhance the reliability of the smart grid.
  • Others: This category includes various specialized oil-filled transformers not classified under instrument, distribution, or power transformers, such as autotransformers and phase-shifting transformers. The demand for specialized transformers in niche applications and distinctive operational environments is driving growth in the “others” segment. Innovations focus on customization, enhanced performance, and adaptability to diverse operational requirements, supporting broader market adoption.

By Mode of Cooling

  • Oil Natural Air Natural (ONAN): The ONAN transformers mainly cool by using natural oil circulation and utilize natural air for extra heat dissipation. These are available for low and medium voltage control and instrumentation use. Increased application in standard distribution networks because it is cheaper and easy to implement. Growth in the population means more and more people are looking for long lasting solutions, especially in the urban areas as well as the rural areas.
  • Oil Natural Air Forced (ONAF): The ONAF transformers offer improved cooling that comes with natural oil circulation in addition to forced air cooling. This method enhances the cooling and increases the accepted loads enough. This rise has been observed in industrial and commercial uses where a higher coefficient of performance and reduced temperature differential are of paramount importance. Technological advancement to enhance the functionality of the transformer and increasing concern to increase the life span of this component leads to the adoption of the ONAF system.
  • Oil Natural Water Forced (ONWF): ONWF transformers use natural oil circulation and water for forced cooling, providing superior heat dissipation and allowing for higher power ratings. Use in high-capacity applications and where heat transfer characteristics are important factors in component design. Lifting and modernization of the power grids and expanding of large high voltage multiterminal networks are favourable to ONWF transformers.

By Substation Connectivity

  • Transmission: Transmission substations enable the movement of electric energy from power stations to distribution systems through high voltage converters. In the U. S., the development path is moving towards improving the transmission hardware through the installation of high-capacity oil immersed transformers to increase grid flexibility and accommodate large amounts of renewable energy.
  • Distribution: Distribution substations regulate the delivery and transformation of electricity from distribution lines and supply electricity to consumers such as residential, commercial, and industrial consumers. These include upgrading distribution networks through the use of advanced oil filled transformers to increase efficiency and capacity as well as improve the strength of the electricity network.

By Mounting

  • Pad: Pad-mounted transformers are installed on a concrete or metal pad, typically used in urban or suburban areas for underground electrical distribution. Pad mounted transformers are used in areas with high density human settlement and increasing demand for space for this equipment. New technologies are directed at increasing a product’s life and decreasing its impact on the environment without sacrificing productivity levels.
  • Pole: Pole mounted transformers are those which are fixed on the utility poles and are mostly used in either the rural or residential areas for the overhead electricity supply systems. Due to rural and suburban areas extension, people still require pole-mounted transformers. They refer to enhancing durability regarding reliability and stability to the weather, with special concern on upkeep requirements.
  • Foundation: the foundation-mounted transformers are placed at a solid concrete foundation to enhance their stability when there are high voltage transformers in several facilities. Power transformers for industrial applications require higher capacity and higher duty; transformers which form a part of the foundation transformation comprise foundation mounted units. Improvements are evident in such areas as improved structural performance and compatibility with high performance cooling platforms.
  • Others: “Others” include specialized mounting solutions like skid-mounted or underground vault transformers, tailored for unique installation requirements. Custom mounting solutions are rising due to specific site needs and operational flexibility. Innovations focus on ease of installation, maintenance, and adapting to varied environmental conditions.

Report Scope

Feature of the Report Details
Market Size in 2024 USD 12,790.8 Million
Projected Market Size in 2033 USD 20,185.6 Million
Market Size in 2023 USD 12,158.6 Million
CAGR Growth Rate 5.2% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Core, Product Type, Modes of Cooling, Substation Connectivity, Rating, Mounting and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Country Scope US
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Competitive Landscape – US Oil Filled Transformer Market

The US Oil Filled Transformer Market is highly competitive, with a large number of players operating in the US. Some of the key players in the market include:

  • ABB Ltd.
  • General Electric Company
  • Schneider Electric SE
  • Siemens AG
  • Mitsubishi Electric Corporation
  • Eaton Corporation plc
  • Hitachi Energy Ltd.
  • SPX Transformer Solutions Inc.
  • Howard Industries Inc.
  • Virginia Transformer Corp.
  • WEG Electric Corp.
  • Sunbelt Transformer Ltd.
  • Crompton Greaves Limited
  • Hyundai Electric & Energy Systems Co. Ltd.
  • Toshiba Energy Systems & Solutions Corporation
  • Others

These companies operate in the market through various strategies such as innovation, mergers and acquisitions, and partnerships.

New entrants such as Toshiba Energy Systems & Solutions Corporation and WEG Electric Corp. are adopting innovations like advanced cooling systems and smart grid integration to differentiate themselves in the oil-filled transformer market. They focus on enhancing energy efficiency and incorporating digital monitoring technologies.

Key players dominating the market include ABB Ltd., General Electric Company, and Siemens AG, leveraging their extensive experience and technological advancements. They maintain market leadership through continuous R&D, broad product portfolios, and strong global supply chains, enabling them to meet diverse customer needs and drive market trends.

The US Oil Filled Transformer Market is segmented as follows:

By Core

  • Berry
  • Closed
  • Shell

By Product Type

  • Instrument Transformer
  • Distribution Transformer
  • Power Transformer
  • Others

By Modes of Cooling

  • Oil Natural Air Natural
  • Oil Natural Air Forced
  • Oil Natural Water Forced

By Substation Connectivity

  • Transmission
  • Distribution

By Rating

  • < 5 MVA
  • > 5 MVA to < 10 MVA
  • > 10 MVA

By Mounting

  • Pad
  • Pole
  • Foundation
  • Others

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 US Oil Filled Transformer Market, (2024 – 2033) (USD Million)
    • 2.2 US Oil Filled Transformer Market: snapshot
  • Chapter 3. US Oil Filled Transformer Market: Industry Analysis
    • 3.1 US Oil Filled Transformer Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Infrastructure Upgrades
      • 3.2.2 Renewable Energy Integration
      • 3.2.3 Technological Advancements
      • 3.2.4 Smart Grid Development
      • 3.2.5 Sustainability Initiatives.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Core
      • 3.7.2 Market Attractiveness Analysis By Product Type
      • 3.7.3 Market Attractiveness Analysis By Modes of Cooling
      • 3.7.4 Market Attractiveness Analysis By Substation Connectivity
      • 3.7.5 Market Attractiveness Analysis By Rating
      • 3.7.6 Market Attractiveness Analysis By Mounting
  • Chapter 4. US Oil Filled Transformer Market: Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 US Oil Filled Transformer Market: company market share, 2023
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. US Oil Filled Transformer Market – Core Analysis
    • 5.1 US Oil Filled Transformer Market Overview: By Core
      • 5.1.1 US Oil Filled Transformer Market Share, By Core, 2023 and 2033
    • 5.2 Berry
      • 5.2.1 US Oil Filled Transformer Market by Berry, 2024 – 2033 (USD Million)
    • 5.3 Closed
      • 5.3.1 US Oil Filled Transformer Market by Closed, 2024 – 2033 (USD Million)
    • 5.4 Shell
      • 5.4.1 US Oil Filled Transformer Market by Shell, 2024 – 2033 (USD Million)
  • Chapter 6. US Oil Filled Transformer Market: Product Type Analysis
    • 6.1 US Oil Filled Transformer Market Overview: By Product Type
      • 6.1.1 US Oil Filled Transformer Market Share, By Product Type, 2023 and 2033
    • 6.2 Instrument Transformer
      • 6.2.1 US Oil Filled Transformer Market by Instrument Transformer, 2024 – 2033 (USD Million)
    • 6.3 Distribution Transformer
      • 6.3.1 US Oil Filled Transformer Market by Distribution Transformer, 2024 – 2033 (USD Million)
    • 6.4 Power Transformer
      • 6.4.1 US Oil Filled Transformer Market by Power Transformer, 2024 – 2033 (USD Million)
    • 6.5 Others
      • 6.5.1 US Oil Filled Transformer Market by Others, 2024 – 2033 (USD Million)
  • Chapter 7. US Oil Filled Transformer Market: Modes of Cooling Analysis
    • 7.1 US Oil Filled Transformer Market Overview: By Modes of Cooling
      • 7.1.1 US Oil Filled Transformer Market Share, By Modes of Cooling, 2023 and 2033
    • 7.2 Oil Natural Air Natural
      • 7.2.1 US Oil Filled Transformer Market by Oil Natural Air Natural, 2024 – 2033 (USD Million)
    • 7.3 Oil Natural Air Forced
      • 7.3.1 US Oil Filled Transformer Market by Oil Natural Air Forced, 2024 – 2033 (USD Million)
    • 7.4 Oil Natural Water Forced
      • 7.4.1 US Oil Filled Transformer Market by Oil Natural Water Forced, 2024 – 2033 (USD Million)
  • Chapter 8. US Oil Filled Transformer Market: Substation Connectivity Analysis
    • 8.1 US Oil Filled Transformer Market Overview: By Substation Connectivity
      • 8.1.1 US Oil Filled Transformer Market Share, By Substation Connectivity, 2023 and 2033
    • 8.2 Transmission
      • 8.2.1 US Oil Filled Transformer Market by Transmission, 2024 – 2033 (USD Million)
    • 8.3 Distribution
      • 8.3.1 US Oil Filled Transformer Market by Distribution, 2024 – 2033 (USD Million)
  • Chapter 9. US Oil Filled Transformer Market: Rating Analysis
    • 9.1 US Oil Filled Transformer Market Overview: By Rating
      • 9.1.1 US Oil Filled Transformer Market Share, By Rating, 2023 and 2033
    • 9.2 < 5 MVA
      • 9.2.1 US Oil Filled Transformer Market by < 5 MVA, 2024 – 2033 (USD Million)
    • 9.3 > 5 MVA to < 10 MVA
      • 9.3.1 US Oil Filled Transformer Market by > 5 MVA to < 10 MVA, 2024 – 2033 (USD Million)
    • 9.4 > 10 MVA
      • 9.4.1 US Oil Filled Transformer Market by > 10 MVA, 2024 – 2033 (USD Million)
  • Chapter 10. US Oil Filled Transformer Market: Mounting Analysis
    • 10.1 US Oil Filled Transformer Market Overview: By Mounting
      • 10.1.1 US Oil Filled Transformer Market Share, By Mounting, 2023 and 2033
    • 10.2 Pad
      • 10.2.1 US Oil Filled Transformer Market by Pad, 2024 – 2033 (USD Million)
    • 10.3 Pole
      • 10.3.1 US Oil Filled Transformer Market by Pole, 2024 – 2033 (USD Million)
    • 10.4 Foundation
      • 10.4.1 US Oil Filled Transformer Market by Foundation, 2024 – 2033 (USD Million)
    • 10.5 Others
      • 10.5.1 US Oil Filled Transformer Market by Others, 2024 – 2033 (USD Million)
  • Chapter 11. US Oil Filled Transformer Market – Regional Analysis
    • 11.1 US Oil Filled Transformer Market Regional Overview
    • 11.2 US Oil Filled Transformer Market Share, by Region, 2023 & 2033 (USD Million)
  • Chapter 12. Company Profiles
    • 12.1 ABB Ltd.
      • 12.1.1 Overview
      • 12.1.2 Financials
      • 12.1.3 Product Portfolio
      • 12.1.4 Business Strategy
      • 12.1.5 Recent Developments
    • 12.2 General Electric Company
      • 12.2.1 Overview
      • 12.2.2 Financials
      • 12.2.3 Product Portfolio
      • 12.2.4 Business Strategy
      • 12.2.5 Recent Developments
    • 12.3 Schneider Electric SE
      • 12.3.1 Overview
      • 12.3.2 Financials
      • 12.3.3 Product Portfolio
      • 12.3.4 Business Strategy
      • 12.3.5 Recent Developments
    • 12.4 Siemens AG
      • 12.4.1 Overview
      • 12.4.2 Financials
      • 12.4.3 Product Portfolio
      • 12.4.4 Business Strategy
      • 12.4.5 Recent Developments
    • 12.5 Mitsubishi Electric Corporation
      • 12.5.1 Overview
      • 12.5.2 Financials
      • 12.5.3 Product Portfolio
      • 12.5.4 Business Strategy
      • 12.5.5 Recent Developments
    • 12.6 Eaton Corporation plc
      • 12.6.1 Overview
      • 12.6.2 Financials
      • 12.6.3 Product Portfolio
      • 12.6.4 Business Strategy
      • 12.6.5 Recent Developments
    • 12.7 Hitachi Energy Ltd.
      • 12.7.1 Overview
      • 12.7.2 Financials
      • 12.7.3 Product Portfolio
      • 12.7.4 Business Strategy
      • 12.7.5 Recent Developments
    • 12.8 SPX Transformer Solutions Inc.
      • 12.8.1 Overview
      • 12.8.2 Financials
      • 12.8.3 Product Portfolio
      • 12.8.4 Business Strategy
      • 12.8.5 Recent Developments
    • 12.9 Howard Industries Inc.
      • 12.9.1 Overview
      • 12.9.2 Financials
      • 12.9.3 Product Portfolio
      • 12.9.4 Business Strategy
      • 12.9.5 Recent Developments
    • 12.10 Virginia Transformer Corp.
      • 12.10.1 Overview
      • 12.10.2 Financials
      • 12.10.3 Product Portfolio
      • 12.10.4 Business Strategy
      • 12.10.5 Recent Developments
    • 12.11 WEG Electric Corp.
      • 12.11.1 Overview
      • 12.11.2 Financials
      • 12.11.3 Product Portfolio
      • 12.11.4 Business Strategy
      • 12.11.5 Recent Developments
    • 12.12 Sunbelt Transformer Ltd.
      • 12.12.1 Overview
      • 12.12.2 Financials
      • 12.12.3 Product Portfolio
      • 12.12.4 Business Strategy
      • 12.12.5 Recent Developments
    • 12.13 Crompton Greaves Limited
      • 12.13.1 Overview
      • 12.13.2 Financials
      • 12.13.3 Product Portfolio
      • 12.13.4 Business Strategy
      • 12.13.5 Recent Developments
    • 12.14 Hyundai Electric & Energy Systems Co. Ltd.
      • 12.14.1 Overview
      • 12.14.2 Financials
      • 12.14.3 Product Portfolio
      • 12.14.4 Business Strategy
      • 12.14.5 Recent Developments
    • 12.15 Toshiba Energy Systems & Solutions Corporation
      • 12.15.1 Overview
      • 12.15.2 Financials
      • 12.15.3 Product Portfolio
      • 12.15.4 Business Strategy
      • 12.15.5 Recent Developments
    • 12.16 Others.
      • 12.16.1 Overview
      • 12.16.2 Financials
      • 12.16.3 Product Portfolio
      • 12.16.4 Business Strategy
      • 12.16.5 Recent Developments
List Of Figures

Figures No 1 to 36

List Of Tables

Tables No 1 to 2

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2033

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2033
  • Market revenue estimates and forecasts up to 2033, by technology
  • Market revenue estimates and forecasts up to 2033, by application
  • Market revenue estimates and forecasts up to 2033, by type
  • Market revenue estimates and forecasts up to 2033, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • ABB Ltd.
  • General Electric Company
  • Schneider Electric SE
  • Siemens AG
  • Mitsubishi Electric Corporation
  • Eaton Corporation plc
  • Hitachi Energy Ltd.
  • SPX Transformer Solutions Inc.
  • Howard Industries Inc.
  • Virginia Transformer Corp.
  • WEG Electric Corp.
  • Sunbelt Transformer Ltd.
  • Crompton Greaves Limited
  • Hyundai Electric & Energy Systems Co. Ltd.
  • Toshiba Energy Systems & Solutions Corporation
  • Others

FAQs

The key factors driving the Market are Infrastructure Upgrades, Renewable Energy Integration, Technological Advancements, Smart Grid Development, Sustainability Initiatives.

The “Instrument Transformer” category dominated the market in 2023.

The key players in the market are ABB Ltd., General Electric Company, Schneider Electric SE, Siemens AG, Mitsubishi Electric Corporation, Eaton Corporation plc, Hitachi Energy Ltd., SPX Transformer Solutions Inc., Howard Industries Inc., Virginia Transformer Corp., WEG Electric Corp., Sunbelt Transformer Ltd., Crompton Greaves Limited, Hyundai Electric & Energy Systems Co. Ltd., Toshiba Energy Systems & Solutions Corporation, Others.

The market is projected to grow at a CAGR of 5.2% during the forecast period, 2024-2033.

The US Oil Filled Transformer Market size was valued at USD 12,790.8 Million in 2024.

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