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Transformer Market Size to Hit $88.48 billion by 2030 | MarketsandMarkets™

GlobeNewswire

Delray Beach, FL, Aug. 18, 2026 -- MarketsandMarkets™ projects the global Transformer Market is estimated to be valued at USD 64.64 billion in 2025 and is projected to reach USD 88.48 billion by 2030, growing at a CAGR of 6.5%. This growth is driven by the rising global demand for reliable and efficient electricity infrastructure, increasing investments in grid modernization, and the rapid integration of renewable energy sources. Additionally, industrial expansion, urbanization, and the electrification of transportation and manufacturing sectors significantly boost the need for high-performance transformers. Technological advancements, such as smart transformers and eco-friendly insulation systems, also contribute to market growth, as end users seek energy-efficient and sustainable power solutions.

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