According to Stratistics MRC, the Global Toroidal Power Transformer Market is accounted for $720.26 million in 2025 and is expected to reach $1319.21 million by 2032 growing at a CAGR of 9.03% during the forecast period. A toroidal power transformer is a kind of electrical transformer with a core shaped like a doughnut and usually composed of a continuous strip of ferrite or silicon steel. This innovative design has a number of benefits over conventional laminated transformers, such as smaller size, lower electromagnetic interference (EMI), and increased efficiency. This symmetrical shape reduces leakage and enhances energy transfer by better containing the magnetic flux within the core. Moreover, audio equipment, medical devices, industrial controls, and power supplies—where compact design and low noise levels are essential—all make extensive use of toroidal transformers.
According to the Indian Electrical & Electronics Manufacturers Association (IEEMA), the production of power transformers in India has experienced modest growth, with a 2% increase reported recently. However, the industry faced challenges in the fourth quarter, witnessing a 6% decline in production and a 2.5% decrease in exports.
Market Dynamics:
Driver:
Increasing need for energy-saving solutions
Modern electrical design has made energy efficiency a key component, particularly in light of global sustainability goals and rising electricity costs. In line with international efforts to meet environmental standards like the Kyoto Protocol and the Paris Agreement, which emphasize energy conservation, toroidal power transformers, with their superior magnetic flux containment and reduced core losses, offer higher energy conversion efficiency than traditional laminated core transformers. Additionally, they are also ideal for continuous-use applications because they operate with minimal heat generation, which helps organizations reduce both energy consumption and operating costs.
Restraint:
Expensive production costs
The comparatively high manufacturing costs of toroidal power transformers in comparison to conventional E-I core transformers are one of the main factors limiting the market. Particularly for custom-built or low-volume units, the precise winding that is necessary around the toroidal core takes more time and effort. Toroidal transformers frequently need manual or semi-automated winding, which raises labor costs, in contrast to standard transformers, which are easily wound using automated machinery. Furthermore, cost-sensitive applications and industries may be put off by this increased complexity, which also results in longer production times and higher end-user pricing.
Opportunity:
Improvements in healthcare equipment technology
Ultra-quiet, accurate, and dependable power solutions are needed due to the growing sophistication of medical devices, which include everything from therapeutic machines to diagnostic tools. Toroidal transformers are ideal for these uses because of their low electromagnetic interference (EMI) and silent operation. The need for sophisticated, secure, and small transformers is anticipated to increase as healthcare spending rises globally, especially in aging populations and emerging economies. Moreover, this creates opportunities for customized toroidal transformers made for imaging devices, laboratory diagnostics, and life support systems.
Threat:
Competitive pressure from traditional transformers
Traditional laminated E-I core transformers still rule many markets despite the technical benefits of toroidal power transformers because of their lower cost, well-established supply chains, and simplicity of manufacturing. Customers frequently choose the more recognizable and reasonably priced options for applications where efficiency or compactness are not top concerns. Additionally, the adoption of toroidal transformers is still seriously threatened by this ongoing competition, which restricts their market penetration and growth potential, particularly in mass-market and cost-sensitive industries.
Covid-19 Impact:
The COVID-19 pandemic affected the market for toroidal power transformers in a variety of ways. Production and delivery delays were caused by global supply chain failures, factory closures, and labour shortages during the industry's early stages. Crucial raw materials like copper and core laminations also had problems with availability and price volatility. However, during the pandemic, there was a corresponding increase in demand for small, dependable, and energy-efficient transformers—domains in which toroidal designs excel—as well as for medical equipment, home electronics, and renewable energy systems. After COVID, this change cleared the path for long-term adoption in smart devices, healthcare, and home power systems, helping to partially offset the losses from industrial slowdowns.
The power transformers segment is expected to be the largest during the forecast period
The power transformers segment is expected to account for the largest market share during the forecast period. These transformers are widely used for effective voltage conversion and electrical isolation in the commercial, residential, and industrial sectors. Their toroidal design makes them perfect for contemporary power management systems because it reduces electromagnetic interference and increases efficiency. Furthermore, toroidal power transformers are becoming more and more popular in applications such as electric vehicles, renewable energy systems, and delicate electronic devices as the world's electricity demand increases and infrastructure becomes more modern.
The renewable energy segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the renewable energy segment is predicted to witness the highest growth rate. Toroidal transformers are becoming more and more popular in solar inverters, wind power systems, and battery energy storage systems as countries move toward cleaner energy sources because of their small size, low electromagnetic interference, and high efficiency. They are perfect for dispersed renewable installations because they can function dependably and silently in harsh conditions. Moreover, this segment is positioned as a major growth engine within the toroidal transformer landscape due to the continued demand driven by government incentives, carbon neutrality targets, and the emergence of decentralized energy systems.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share, fueled by the swift development of infrastructure, urbanization, and industry in nations like South Korea, Japan, China, and India. This dominance is largely due to the region's robust manufacturing base and rising demand for energy-efficient electronic components in industries like consumer electronics, renewable energy, and electric vehicles. The use of toroidal transformers is also increased by advantageous government programs that encourage the adoption of clean energy and grid modernization. Additionally, Asia-Pacific's dominance in the global market is further supported by the availability of inexpensive labor and raw materials, which enable high production volumes.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR, driven by rising expenditures on smart grid technologies, electric cars, and renewable energy infrastructure. Adoption of toroidal transformers in applications like solar inverters, EV charging stations and cutting-edge medical devices has accelerated due to the region's emphasis on energy efficiency and strict regulatory standards for power quality and electromagnetic interference. Furthermore, the increasing need for small and silent power solutions in home and business electronics keeps spurring innovation and market growth in both the US and Canada.
Key players in the market
Some of the key players in Toroidal Power Transformer Market include Johnson Electric Coil Company, ABB Ltd., Eaton, Toroid Corporation, Hammond Manufacturing Co. Ltd, Miracle Electronic Devices Pvt Ltd., Triad Magnetics Inc, Agile Magnetics Inc, Pico Electronics Inc., Noratel AS, Talema Group LLC, Bel Fuse, Inc., Schuntermann GmbH, Lenco Electronics, Inc. and Amgis, LLC.
Key Developments:
In March 2025, ABB has signed a Leveraged Procurement Agreement (LPA) to support as the automation partner for Dow’s Path2Zero project at Fort Saskatchewan in Alberta, Canada. According to Dow, the project, which is currently under construction, will create the world’s first net-zero Scope 1 and 2 greenhouse gas emissions ethylene and derivatives complex1, producing the essential building blocks needed for many of the materials and products that society relies on.
In March 2025, Intelligent power management company Eaton announced it has signed an agreement to acquire Fibrebond Corporation, a designer and builder of pre-integrated modular power enclosures for data center, industrial, utility and communications customers. Under the terms of the agreement, Eaton will pay $1.4 billion for the acquisition of Fibrebond, which is expected to generate $110 million of estimated 2025 adjusted EBITDA.
In September 2024, Hammond Power Solutions Inc. announced that it has entered into a definitive agreement to acquire the assets relating to the operations of Micron Industries Corporation, a company based in the United States. Micron Industries is a leading provider of control transformers and other electrical products and had approximately $23 million USD of revenue in 2023.
Product Types Covered:
• Audio Transformers
• Mains Transformers
• Power Transformers
• Matching Transformers
• Isolation Transformers
Power Capacities Covered:
• Above 3000VA
• 1000VA - 3000VA
• 250VA - 1000VA
• Below 250 VA
Applications Covered:
• Power Management
• Telecommunications
• Renewable Energy
• Electric Appliances
• Microprocessor Units
• Instrumentation
• Battery Chargers
• Other Applications
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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