Europe Transformer Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Transformer Market Analysis
The Europe transformer market is expected to rise at a CAGR of more than 2.5% during the forecast period of 2020-2025. Factors such as increasing energy demands from the industries and upgrading old transmission and distribution systems are likely to drive the Europe transformer market. However, fluctuations in the price of raw material needed for the manufacturing of transformers are expected to restrain the Europe transformer market.
- Distribution transformer, due to the increasing number of industrializations across the region and supplying its power to consumers by connecting to the grid, is expected to be the largest growing segment for the Europe transformer market during the forecast period.
- A smart grid is seen as a highly efficient and economical technology that can reduce carbon emissions. Such up-gradation for now exiting networks in the region can create several opportunities for the Europe transformer market in the future.
- Due to its increasing demand for electricity and the rising renewable energy installation and connecting them in the country's grid, Germany is expected to be the fastest-growing market for Europe transformers.
Europe Transformer Market Trends
This section covers the major market trends shaping the Europe Transformer Market according to our research experts:
Distribution Transformer Expected to Dominate the Market
- A distribution transformer or service transformer is used to provide the final voltage transformation in the electric power distribution system. It will then step down the voltage applied in the distribution lines to the level used by various customers of the residential, commercial, and industrial sectors.
- Countries in the European region such as the United Kingdom, Germany, and France already have 100% access to electricity. They are now indulged in the up-gradation and expansion of the existing transmission and distribution system. Moreover, countries in the region have also signed projects to share the power generated in the country with North African countries to help them with energy shortage.
- In 2018, the electricity generation for Europe was about 5494.7 Terawatt-Hour (TWh), which was higher than what the world produced in 2017, 5443.5 TWh. The increase in electricity generation exhibits an increase in the number of power generation capacity, which is likely to use new distribution transformers for transmission of electricity to the consumers.
- The EuroAfrica Interconnector comprises the electricity interconnection between the grids of Egypt-Cyprus-Greece through a subsea direct current cable and with high voltage direct current (HVDC) onshore converter stations at each connection point, with a total capacity of 2000 megawatts (MW). The project is an energy highway connecting Africa and Europe, with a full length of 1396 kilometers. It creates an alternative route for the transfer of electric energy to and from Europe. The project is expected to use several transformers to transfer electricity into countries grids and is expected to be complete by 2023.
- In January 2020, General Electric Company was awarded a multi-million dollar project for the design, supply, construction, and commissioning of onshore and offshore wind substations for the Neart na Gaoithe (NnG) offshore wind farm, in Scotland. The project is jointly owned by EDF Renewables and ESB. GE is responsible for the delivery of all infrastructures within the perimeter, including groundworks and civil construction. The substations in the project are likely to use several distribution transformers to step down the electric voltage. NnG is scheduled to be fully operational by the end of 2023.
- Hence, owing to the above points, the distribution transformer segment is likely to dominate the Europe transformer market during the forecast period.
Germany Expected to be the Fastest-Growing Market
- Germany, due to the constant increase in energy demand and an increasing number of commercial and industrial operations, the country is likely to be the fastest-growing market for the transformer in Europe.
- The country is also witnessing a large installation of renewable energy capacity, which requires a large amount of power and distribution transformers to transfer electricity from the generation site to the consumers. In 2019, Germany's total renewable energy installation was 125.38 gigawatts (GW), which was higher than the installed capacity in 2018, 119.29 gigawatts (GW).
- Moreover, the country is witnessing substantial growth in the sales of electric vehicles. To reduce greenhouse gas emissions, the government is encouraging the use of electric vehicles in the country by providing discounts on the purchases of vehicles. With growing electric cars, the demand for the electric car charging infrastructure in the country is expected to increase, which in turn, is expected to drive the distribution transformer market.
- Germany has set a target to generate 80% to 95% of the total electricity from renewable energy sources by the end of 2050. Moreover, the country is focusing more on upgrading the outdated transmission and distribution system of the country, which is expected to drive the transformer market in the country.
- Hence, owing to the above points, Germany is expected to the fastest-growing market for transformer in Europe during the forecast period.
Europe Transformer Industry Overview
The Europe transformer market is fragmented. Some of the key players in this market include Siemens AG, ABB Ltd., General Electric Company, Schneider Electric SE, and Emerson Electric Co.
Europe Transformer Market Leaders
Siemens AG
ABB Ltd.
General Electric Company
Schneider Electric SE
Emerson Electric Co.
*Disclaimer: Major Players sorted in no particular order
Europe Transformer Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. EXECUTIVE SUMMARY
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3. RESEARCH METHODOLOGY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast in USD billion, till 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 Supply Chain Analysis
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4.7 Porter's Five Force Analysis
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4.7.1 Bargaining Power of Suppliers
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4.7.2 Bargaining Power of Consumers
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4.7.3 Threat of New Entrants
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4.7.4 Threat of Substitutes Products and Services
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4.7.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Power Rating
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5.1.1 Small
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5.1.2 Large
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5.1.3 Medium
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5.2 Cooling Type
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5.2.1 Air-Cooled
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5.2.2 Oil-Cooled
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5.3 Transformer Type
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5.3.1 Power Transformer
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5.3.2 Distribution Transformer
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5.4 Geography
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5.4.1 Germany
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5.4.2 France
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5.4.3 United Kingdom
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5.4.4 Rest of the Europe
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
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6.2 Strategies Adopted by Key Players
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6.3 Company Profiles
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6.3.1 Siemens AG
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6.3.2 ABB Ltd.
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6.3.3 General Electric Company
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6.3.4 Mitsubishi Electric Corporation
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6.3.5 Schneider Electric SE
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6.3.6 Emerson Electric Co.
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6.3.7 CG Power and Industrial Solutions Ltd
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6.3.8 SGB-SMIT Group
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6.3.9 Eaton Corporation PLC
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Transformer Industry Segmentation
The Europe transformer market report include:
| Power Rating | |
| Small | |
| Large | |
| Medium |
| Cooling Type | |
| Air-Cooled | |
| Oil-Cooled |
| Transformer Type | |
| Power Transformer | |
| Distribution Transformer |
| Geography | |
| Germany | |
| France | |
| United Kingdom | |
| Rest of the Europe |
Europe Transformer Market Research FAQs
What is the current Europe Transformer Market size?
The Europe Transformer Market is projected to register a CAGR of greater than 2.5% during the forecast period (2024-2029)
Who are the key players in Europe Transformer Market?
Siemens AG, ABB Ltd., General Electric Company, Schneider Electric SE and Emerson Electric Co. are the major companies operating in the Europe Transformer Market.
What years does this Europe Transformer Market cover?
The report covers the Europe Transformer Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Europe Transformer Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Transformer Industry Report
Statistics for the 2024 Europe Transformer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Transformer analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
