Global Oil Immersed Power Transformer Market Size Likely to Reach at a CAGR of 5.4% By 2033

As per the current market research conducted by the CMI Team, the global Oil Immersed Power Transformer Market size is expected to record a CAGR of 5.4% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 22,616.8 Million. By 2033, the valuation is anticipated to reach USD 36,307.6 Million.

Oil Immersed Power Transformer Market: Growth Factors and Dynamics

• Increasing Energy Demand: Urbanization, industrialization, and population growth have led to the increased use of energy throughout the world thus increasing the need for a convenient way of distributing electricity. The oil immersed power transformers are considered important products to support power transmission and distribution in growing power networks.

• Infrastructure Development: Such projects that include ongoing and future ones; power plants, substations, and grid expansion are the main forces behind the oil immersed power transformers. These projects need dependable and sound transformers for power supply and to cater for the increasing demand.

• Technological Advancements: New advancements in the transformer that include insulation material, cooling system, and material durability are enhancing steady and higher efficiency levels of oil immersed transformers. Such improvements make them suitable for the present electrical power networks.

• Renewable Energy Integration: Wind and solar power are one of the major forms of renewable energy with a diverse application in the electric grid hence efficient power transformers are relevant. The main parameters such as variability and stability involve the use of oil immersed transformers in the entire renewable energy supply systems.

• Urbanization and Industrial Growth: Growth of cities and industries especially in emerging economies demands their need for extensive power distribution networks. Oil immersed power transformers are crucial in providing the power needed for new establishments of residential, commercial and industrial Nature.

• Government Investments and Regulations: The market is spurred by government policies and investments in the power sector infrastructure; especially in the areas of modernization and expansion constructions. Also, standards and incentives that promote the use of enhanced energy efficiency and cut down on transmission losses are other factors that help create demand for the oil immersed power transformers.

• Aging Infrastructure: There is a constant demand for replacing dated power structures in developed areas and up grading requirements of oil immersed power transformers are compulsory in this regard. As for now many transformers are old models and have undergone their life cycle and require new transformers so that they immediately fulfil the role of power transmission and meet the needs of the populace in terms of energy.

Oil Immersed Power Transformer Market: Partnership and Acquisitions

• In 2022, Elsewedy Electric, an Egyptian multinational, launched a new transformers plant in the Elsewedy Electric Industrial Complex in Kigamboni, Tanzania. This expansion aims to boost local manufacturing capabilities and support regional energy infrastructure development.

• In 2021, Schneider Electric completed a transaction to merge its Low Voltage and Industrial Automation business in India with Larsen & Toubro’s Electrical and Automation business. This integration aims to enhance market presence and offer advanced solutions in the region.

Report Scope

Oil Immersed Power Transformer Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Oil Immersed Power Transformer Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption in Supply Chains: The COVID-19 pandemic caused significant disruptions in global supply chains, affecting the availability of raw materials and components for manufacturing oil immersed power transformers. This led to delays in production and increased costs.

• Project Delays and Shutdowns: Many infrastructure projects, including power grid expansions and new installations, faced delays or temporary shutdowns due to lockdowns and social distancing measures. This impacted the demand and deployment of oil immersed power transformers.

• Accelerated Infrastructure Investment: As economies recover, there is a renewed focus on infrastructure investment, including power grid modernization and expansion. This increased spending supports the demand for new oil immersed power transformers.

• Enhanced Digital and Remote Capabilities: The pandemic accelerated the adoption of digital technologies and remote monitoring solutions. These advancements are being integrated into power transformer systems, improving their efficiency and reliability.

• Resilient Supply Chain Strategies: Companies are adopting more resilient supply chain strategies to mitigate future disruptions. This includes diversifying suppliers and increasing inventory levels to ensure consistent production and delivery of oil immersed power transformers.

• Government Stimulus Programs: Many governments are implementing stimulus programs and funding for infrastructure projects to boost economic recovery. This includes investments in energy infrastructure, driving demand for oil immersed power transformers.

• Increased Focus on Energy Efficiency: There is a growing emphasis on improving energy efficiency and reducing transmission losses in the post-pandemic era. This focus on sustainability drives the adoption of advanced oil immersed power transformers with improved performance and efficiency.

• Rising Demand for Upgraded Power Grids: As countries and regions recover from the pandemic, there is a heightened focus on upgrading and expanding power grids to meet increased energy demands and enhance grid resilience. This recovery trend boosts the need for modern oil immersed power transformers, facilitating improved power distribution and reliability.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Oil Immersed Power Transformer Market, with some challenges and opportunities arising from the pandemic in the market.

List of the prominent players in the Oil Immersed Power Transformer Market:

• Siemens Energy AG
• Schneider Electric SE
• General Electric Company (GE)
• Mitsubishi Electric Corporation
• ABB Ltd.
• Eaton Corporation Plc
• Hitachi Energy Ltd.
• Crompton Greaves Power Products Ltd.
• Siemens Gamesa Renewable Energy
• Hammond Power Solutions Inc.
• SGB-SMIT Group
• Toshiba Corporation
• Bharat Heavy Electricals Limited (BHEL)
• North American Electric Reliability Corporation (NERC)
• Schneider Electric
• Others

The Oil Immersed Power Transformer Market is segmented as follows:

By Installation

• Pad Mounted
• Pole Mounted
• Substation Installation

By Phase

• Single Phase
• Three Phase

By Voltage

• Low
• Medium
• High

By End Users

• Industrial
• Residential
• Commercial
• Utilities

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America