Power and Distribution Transformers Industry Driven by Major Electrical Companies

Overview

The global power and distribution transformers market is set for steady expansion, projected to grow from USD 24.9 billion in 2024 to about USD 41.7 billion by 2034, at a 5.3% CAGR between 2025 and 2034. Strong electricity demand has positioned Asia-Pacific as the leading region, holding 43.80% share and generating nearly USD 10.9 billion in revenue.

Power and distribution transformers are essential grid assets. Power transformers manage high-voltage transmission between power plants and substations, while distribution transformers reduce voltage for safe use in homes, offices, and industries. Together, they ensure reliable electricity delivery and grid stability.

Market growth is closely tied to the adoption of electrification, grid modernization, and the integration of renewable energy. A key supporting factor is rising investment in electrical steel, which directly impacts transformer efficiency and performance. JSW Steel and Japan’s JFE are investing USD 669 million (₹58 billion) to expand electrical steel output, while SAIL and JCIL have announced USD 692 million for new capacity development. In parallel, JSW Steel’s arm is raising ₹ 2.6 billion to acquire a ThyssenKrupp unit, thereby strengthening access to advanced steel technologies for low-loss transformers.

New opportunities are emerging from decarbonization and supply chain shifts. GravitHy, based in Marseille, secured €60 million to advance low-carbon iron production, supporting cleaner transformer manufacturing. Additionally, China’s polysilicon producers are planning a USD 7 billion fund to close about one-third of capacity, a move that could redirect investments toward grid upgrades and transformer demand globally.

Top Key Players in the Market

• BB
• Siemens
• GE
• Schneider
• Eaton Corporation
• Emerson
• Crompton Greaves Ltd
• Alstom SA.
• Others

1. ABB Ltd

ABB is a global technology leader focused on electrification and automation, supporting utilities, industry, and infrastructure customers worldwide. The company designs and supplies power and distribution transformers used across transmission grids, renewable integration, and industrial facilities. ABB’s transformer portfolio emphasizes energy efficiency, digital monitoring, and reduced lifecycle losses to support grid reliability and decarbonization goals.

With operations spanning more than 100 countries, ABB combines engineering depth with localized manufacturing and service capabilities. Its transformer solutions are widely used in smart grids, substations, and renewable energy projects, reinforcing ABB’s long-standing role in modern power networks and grid modernization programs.

2. Siemens AG

Siemens is a global technology company active in electrification, automation, and digitalization.
Through its energy-related businesses, Siemens delivers power and distribution transformers that support high-voltage transmission, industrial power systems, and large infrastructure projects. The company integrates digital technologies to improve transformer monitoring, efficiency,
and operational reliability.

Siemens transformers are widely deployed in utility grids, renewable energy integration, and
industrial substations. Its engineering capabilities and global manufacturing footprint allow
Siemens to support large-scale grid expansion and modernization, particularly in fast-growing
electricity markets.

3. General Electric (GE)

General Electric has played a historic role in the global power sector, supplying electrical
equipment and grid technologies for more than a century. Through its energy-focused operations, GE supports transmission and distribution networks with transformer-related solutions designed for grid stability and large-scale power delivery.

GE’s long-standing engineering expertise and global installed base position it as a key supplier
to utilities and infrastructure developers. Its transformer and grid solutions are aligned with
evolving needs such as renewable integration, system reliability, and energy transition support.

4. Schneider Electric

Schneider Electric is a global leader in energy management and automation. The company provides electrical distribution and grid solutions that complement power and distribution transformer systems, enabling safer and more efficient electricity delivery across residential, commercial, and industrial applications.

With a strong focus on sustainability and digital energy management, Schneider Electric supports smart grids and modern substations. Its solutions help utilities and industries optimize power flows, improve efficiency, and meet tightening energy-efficiency and carbon-reduction targets.

5. Eaton Corporation

Eaton is a global power management company delivering electrical solutions for utilities,
industries, and infrastructure projects. Its portfolio supports safe and reliable power
distribution, working alongside transformer installations across transmission and distribution
networks.

Eaton focuses on improving energy efficiency, resilience, and electrical safety. With a strong
international footprint, the company plays an important role in grid upgrades, data centers,
and electrification projects worldwide.

6. Emerson Electric

Emerson Electric is a global technology and engineering company focused on automation solutions. While not a primary transformer manufacturer, Emerson’s electrical and control technologies are widely used in power distribution systems and industrial substations.

The company supports utilities and industries through advanced monitoring, control, and
automation platforms that integrate with transformer-based power systems, improving reliability, safety, and operational efficiency across energy infrastructure.

7. CG Power and Industrial Solutions

CG Power and Industrial Solutions is an Indian engineering company with a strong presence in
power equipment, including transformers for generation, transmission, and distribution
applications. The company serves utilities, industries, and infrastructure developers.

With decades of operating history, CG Power supplies engineered electrical solutions across
domestic and international markets. Its transformer portfolio supports grid expansion,
industrial electrification, and infrastructure modernization.

8. Alstom SA

Alstom is a global transportation and mobility company with historical involvement in power
equipment. Today, it focuses on rail transport systems, including traction and electrical
solutions that interface with high-capacity power infrastructure.

Although its core business has shifted to rail and mobility, Alstom’s electrical engineering
expertise continues to support large-scale infrastructure projects that depend on reliable
power distribution systems.

Conclusion

The power and distribution transformers market plays a vital role in maintaining a reliable electricity supply across transmission and distribution networks. Ongoing grid modernization, urban expansion, and rising electrification are strengthening long-term demand for transformer installations and replacements. Utilities and industries are increasingly focusing on energy efficiency, grid resilience, and integration of renewable power sources, which supports continued technology upgrades.

Advancements in materials, digital monitoring, and eco-friendly designs are improving performance and reducing lifecycle costs. As power infrastructure ages in many regions, investment in refurbishment and new capacity remains essential. Overall, the market is positioned for steady, sustainable growth driven by infrastructure development and evolving energy needs worldwide.

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