Autumn Market Research projects that the global market for transformers is estimated to reach $83.7
billion by 2024, growing at a CAGR of 7.5% over the forecast period (2019-2024). Increasing
electricity demand in economically developing countries, replacement of old electric power
equipment in developed economies, and need for high-voltage power transformers as well as
increasing capital expenditure in the power sector worldwide will drive the power and distribution
transformer market.

In addition, the acceptance of energy-efficiency standards in developed markets, such as Europe and
the U.S., as well as in rising economies, such as China and India, are expected to generate demand for
new, more efficient electricity equipment, including power, and distribution transformers.

The study outlines the market structure and offers in-depth analysis of the transformers market by
types (Distribution, Power, Traction, Isolation, and Smart), core type (Closed-type, Shell-type, and
Berry-type), winding type (Two-winding and Auto-transformer), cooling type (Dry-type and Oil
Immersed), phase type (Three and Single), mounting type (Pad, Pole, and PC/PCB) installation type
(Outdoor and Indoor), regions (North America, Europe, Asia-Pacific, South America, and ROW) and
power ratings. The study also provides the competitive landscape of the market, along with economic,
industry- and region-specific, and technological trends driving the transformers market over the
forecast period.