Global Transformers Market for Renewable Energy 2025-2029

Transformers For Renewable Energy Market 2025-2029

The transformers for renewable energy market is forecasted to grow by USD 4034 mn during 2024-2029, accelerating at a CAGR of 4.6% during the forecast period. The report on the transformers for renewable energy market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by shift in focus of government bodies toward renewable energy, modernization of existing transformers by smart grid systems, and expansion of renewable power generation capacity.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's transformers for renewable energy market is segmented as below:

By Application

• Solar PV
• Wind farm

By Indication

• Dry insulation
• Liquid immersed insulation

By Type

• Distribution transformers
• Power transformers
• Others

By Capacity

• 5 MVA to 100 MVA
• 100 MVA to 500 MVA
• 500 MVA and Above

By Geographical Landscape

• APAC
• Europe
• North America
• South America
• Middle East and Africa

This study identifies the rising number of offshore wind farm installation as one of the prime reasons driving the transformers for renewable energy market growth during the next few years. Also, rising adoption of solar as hybrid power system and digitalization of transformers will lead to sizable demand in the market.

The report on the transformers for renewable energy market covers the following areas:

• Transformers For Renewable Energy Market sizing
• Transformers For Renewable Energy Market forecast
• Transformers For Renewable Energy Market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading transformers for renewable energy market vendors that include Bharat Heavy Electricals Ltd., CG Power and Industrial Solutions Ltd., Daihen Corp., Eaton Corp. plc, ENERCON GmbH, Esennar Transformers Pvt. Ltd., General Electric Co., Hitachi Ltd., LC Magnetics Inc., Marsons Energy Pvt. Ltd., Northern Transformer, S.E.A. Societa Elettromeccanica Arzignanese S.p.A., Schneider Electric SE, Siemens AG, STC Inc., Synergy Transformers Pvt. Ltd., TESLA TRANSFORMERS (GLOBAL) Pvt. Ltd., Voltamp Transformers Ltd, and Westrafo Srl.. Also, the transformers for renewable energy market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.