Global Oil Immersed Transformer Market Growth 2025-2031
Description
The global Oil Immersed Transformer market size is predicted to grow from US$ 9532 million in 2025 to US$ 13380 million in 2031; it is expected to grow at a CAGR of 5.8% from 2025 to 2031.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Oil Immersed transformers are a common type of power transformers, which use insulating oil to cool and insulate the internal components of the transformer. Insulating oil plays an important role in oil-immersed transformers. It not only effectively cools the internal components of the transformer, but also provides insulation protection to prevent arcing and discharge. At the same time, insulating oil also has good electrical insulation performance and stability, and can work stably for a long time in high temperature environments. It is mostly used in the trunk lines and hub substations of high-voltage power grids. Its typical characteristics are that it can withstand high voltage (usually ≥110kV), large capacity (more than tens of MVA), and adapt to complex outdoor environments.
The global oil-immersed transformer market is expected to grow steadily, with the core growth drivers coming from the demand for new energy grid connection in the Asia-Pacific region (such as China's UHV projects and India's rural power grid expansion), the upgrade of old power grids in Europe and the United States (70% of transformers in the United States have a lifespan of more than 25 years), and the demand for supporting offshore wind power (such as the North Sea project in Europe). The competitive landscape is dominated by leading companies such as Hitachi, Siemens, and TBEA, which together account for more than 60%. Technological differentiation (UHV, digitalization) and regional cooperation have become the key to competition. Challenges include environmental transformation pressure (the cost of bio-insulating oil has increased by 30%-50%) and price fluctuations of raw materials such as silicon steel. Future trends focus on greening (application of synthetic ester oil), intelligence (IoT monitoring), and high-voltage direct current transmission (such as cross-border power grid interconnection). China's "Belt and Road" and the US IRA policy further boost market expansion, but we need to be vigilant about geopolitical and supply chain risks.
LP Information, Inc. (LPI) ' newest research report, the “Oil Immersed Transformer Industry Forecast” looks at past sales and reviews total world Oil Immersed Transformer sales in 2024, providing a comprehensive analysis by region and market sector of projected Oil Immersed Transformer sales for 2025 through 2031. With Oil Immersed Transformer sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Oil Immersed Transformer industry.
This Insight Report provides a comprehensive analysis of the global Oil Immersed Transformer landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Oil Immersed Transformer portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Oil Immersed Transformer market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Oil Immersed Transformer and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Oil Immersed Transformer.
This report presents a comprehensive overview, market shares, and growth opportunities of Oil Immersed Transformer market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
110kV~220kV
220kV~750kV
≥1000kV
Segmentation by Application:
Power Plant
Industrial
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Tbea
China XD Electric
Hitachi Energy (ABB)
Huapeng Transformer
Siemens
Shandong Electrical Engineering & Equipment Group
Shandong Dachi Electric
Toshiba
SGB-SMIT
Sanbian Sci-Tech
Hangzhou Qianjiang Electric Group
Mitsuibishi Electric
BTW
Eaglerise Electric & Electronic
GE Vernova
Hyosung
Sojo
Schneider Electric
WEG
Shihlin Electric & Engineering
HD Hyundai Electric
Key Questions Addressed in this Report
What is the 10-year outlook for the global Oil Immersed Transformer market?
What factors are driving Oil Immersed Transformer market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Oil Immersed Transformer market opportunities vary by end market size?
How does Oil Immersed Transformer break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
The impact of the latest U.S. tariff measures and the corresponding policy responses from countries worldwide on market competitiveness, regional economic performance, and supply chain configurations will be comprehensively evaluated in this report.
Oil Immersed transformers are a common type of power transformers, which use insulating oil to cool and insulate the internal components of the transformer. Insulating oil plays an important role in oil-immersed transformers. It not only effectively cools the internal components of the transformer, but also provides insulation protection to prevent arcing and discharge. At the same time, insulating oil also has good electrical insulation performance and stability, and can work stably for a long time in high temperature environments. It is mostly used in the trunk lines and hub substations of high-voltage power grids. Its typical characteristics are that it can withstand high voltage (usually ≥110kV), large capacity (more than tens of MVA), and adapt to complex outdoor environments.
The global oil-immersed transformer market is expected to grow steadily, with the core growth drivers coming from the demand for new energy grid connection in the Asia-Pacific region (such as China's UHV projects and India's rural power grid expansion), the upgrade of old power grids in Europe and the United States (70% of transformers in the United States have a lifespan of more than 25 years), and the demand for supporting offshore wind power (such as the North Sea project in Europe). The competitive landscape is dominated by leading companies such as Hitachi, Siemens, and TBEA, which together account for more than 60%. Technological differentiation (UHV, digitalization) and regional cooperation have become the key to competition. Challenges include environmental transformation pressure (the cost of bio-insulating oil has increased by 30%-50%) and price fluctuations of raw materials such as silicon steel. Future trends focus on greening (application of synthetic ester oil), intelligence (IoT monitoring), and high-voltage direct current transmission (such as cross-border power grid interconnection). China's "Belt and Road" and the US IRA policy further boost market expansion, but we need to be vigilant about geopolitical and supply chain risks.
LP Information, Inc. (LPI) ' newest research report, the “Oil Immersed Transformer Industry Forecast” looks at past sales and reviews total world Oil Immersed Transformer sales in 2024, providing a comprehensive analysis by region and market sector of projected Oil Immersed Transformer sales for 2025 through 2031. With Oil Immersed Transformer sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Oil Immersed Transformer industry.
This Insight Report provides a comprehensive analysis of the global Oil Immersed Transformer landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Oil Immersed Transformer portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Oil Immersed Transformer market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Oil Immersed Transformer and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Oil Immersed Transformer.
This report presents a comprehensive overview, market shares, and growth opportunities of Oil Immersed Transformer market by product type, application, key manufacturers and key regions and countries.
Segmentation by Type:
110kV~220kV
220kV~750kV
≥1000kV
Segmentation by Application:
Power Plant
Industrial
Other
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Tbea
China XD Electric
Hitachi Energy (ABB)
Huapeng Transformer
Siemens
Shandong Electrical Engineering & Equipment Group
Shandong Dachi Electric
Toshiba
SGB-SMIT
Sanbian Sci-Tech
Hangzhou Qianjiang Electric Group
Mitsuibishi Electric
BTW
Eaglerise Electric & Electronic
GE Vernova
Hyosung
Sojo
Schneider Electric
WEG
Shihlin Electric & Engineering
HD Hyundai Electric
Key Questions Addressed in this Report
What is the 10-year outlook for the global Oil Immersed Transformer market?
What factors are driving Oil Immersed Transformer market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Oil Immersed Transformer market opportunities vary by end market size?
How does Oil Immersed Transformer break out by Type, by Application?
Please note: The report will take approximately 2 business days to prepare and deliver.
Table of Contents
160 Pages
- *This is a tentative TOC and the final deliverable is subject to change.*
- 1 Scope of the Report
- 2 Executive Summary
- 3 Global by Company
- 4 World Historic Review for Oil Immersed Transformer by Geographic Region
- 5 Americas
- 6 APAC
- 7 Europe
- 8 Middle East & Africa
- 9 Market Drivers, Challenges and Trends
- 10 Manufacturing Cost Structure Analysis
- 11 Marketing, Distributors and Customer
- 12 World Forecast Review for Oil Immersed Transformer by Geographic Region
- 13 Key Players Analysis
- 14 Research Findings and Conclusion
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