United States Large Power Transformer Companies (2024 - 2029)

United States Large Power Transformer Market Companies Summary

The US large power transformer market is predicted to experience significant growth during the forecast period due to several driving factors. The COVID-19 pandemic led to a decrease in greenhouse gas emissions and electric power emissions due to a decline in electricity demand and a continued shift from coal to renewable energy. However, this situation adversely affected large transformer manufacturers and power distribution firms, which faced operational challenges due to cash flow issues and lockdown measures. Despite these obstacles, the market is expected to be driven by increasing investments in transmission infrastructure and the rising demand for electrical energy. However, the high manufacturing costs and lead time required for producing large power transformers may slow down market growth. The power generation segment is projected to dominate the market, largely due to the high usage of large power transformers in renewable energy generation. As firms aim to reduce their carbon footprints, many transformer manufacturers are developing new low-carbon transformers insulated with fully biodegradable vegetable oils, which produce fewer CO2 emissions. The advancements in power transformer technology, coupled with initiatives to reduce carbon footprints, are expected to provide ample opportunities for market players in the future. Moreover, increasing investments in the renewable energy sector are set to further boost the large power transformer market.