North America Power Transformer Market size is anticipated to increase exponentially from 2021 to 2027 on account of increasing investment towards integration of heavy power generation units along with regulatory norms for efficient electricity supply system. Stringent government regulations for refurbishment of existing grid infrastructure with advanced systems coupled with ongoing industrialization will augment the market landscape. Regulatory measures for grid frequency combined with positive policies for energy storage technology will further stimulate the industry dynamics.
COVID- 19 significantly impacted the North America power transformer market growth owing to minimal on-site operations and supply chain disruptions during the lockdown. However, post vaccination drive, lockdowns have been removed in phases across the globe, leading to revival of economy. In addition, government efforts toward robust development of the healthcare sector to respond to the crisis will foster the market expansion.
North America Market, By Core
The shell-based power transformer market in North America is estimated to rise significantly through 2027, led by growing deployment of large power generation units and surging load center efforts to stabilize the peak power demand. Rising electricity cost across the commercial sector along with switch over to extra high voltage supply lines will enhance the product penetration. In addition, regulatory focus towards advancements in electric vehicle technology coupled with reliability of power supply will augment the market outlook.
North America Market, By Installation
Outdoor installation segment will dominate the market share till 2027, due to rising investments in energy projects along with growing demand for inhouse captive power requirements. Increasing applicability across medium to high voltage application areas on account of less space requirements and minimal losses will further boost the product deployment. Moreover, extreme temperatures and natural disasters across the region will stimulate the installation of these systems on a regular basis.
North America Market, By Insulation
The air insulated North America power transformer market revenue is anticipated to expand lucratively by 2027, impelled by ongoing government efforts to refurbish the grid infrastructure along with strict environment norms for power generation units. Minimal oil leakages, low space requirements, and efficient cooling during harsh climatic conditions when compared to its available counterparts will fuel the product adoption. Furthermore, the growing deployment of renewable energy units coupled with the expansion of micro-grid networks to limit emissions will drive the market demand.
North America Market, By Country
The U.S. power transformer market size is projected to observe substantial growth rate during the forecast period, propelled by rising electricity demand across mining, cement manufacturing, and petrochemical industries. Strict government electricity supply reforms associated with public and private players will drive the product penetration. For instance, in 2021, WEG established its fifth plant in the U.S. with an increase in the production of power transformers up to 10 MVA. This will enable the company to offer a wide range of power transformers across the country.
Competitive Industry Landscape
Key power transformer manufacturers operating across the North America are Hitachi ABB Power Grids, Atlas Power Transformers, Eaton, Ermco ECI, Hyosung Heavy Industries, DOS Canada Inc, Northern Power transformer, Siemens, Schneider Electric, SPX Power Transformer Solutions, General Electric, and Toshiba International Corporation.