North America Power Transformer Market to Reach USD 13.11 Billion by 2035 from USD 6.85 Billion in 2025 at a 6.7% CAGR - SRI

London, UK - October 2026 | Strategic Revenue Insights Inc. - Transmission upgrades, renewable energy interconnections, and data center expansion are driving steady growth in the North America power transformer market. According to Strategic Revenue Insights, the north america power transformer market was valued at USD 6.85 billion in 2025 and is projected to reach USD 13.11 billion by 2035, registering a CAGR of 6.7%. The report was prepared by lead analyst Anirudh Singh. The source report does not disclose detailed methodology, including the number of primary interviews or the specific secondary datasets used.

Key Takeaways

• Market value is projected to rise from USD 6.85 billion in 2025 to USD 13.11 billion by 2035, at a CAGR of 6.7%.
• Renewable collector step-up transformers are the largest product type with a 24% share in 2025, followed by transmission substation transformers at 22%.
• The 100 to 500 MVA range leads power ratings with 30%, 132 to 220 kV leads voltage ratings with 25%, ONAF cooling holds 25%, mineral oil-immersed insulation holds 40%, and transmission utilities (TSOs) are the largest end user with 30%.
• The United States is the largest country market with an 83.65% share in 2025 and the highest CAGR at 6.9%.
• Named market participants include Hitachi Energy, Siemens Energy, and Prolec GE.

Report URL: https://www.strategicrevenueinsights.com/industry/north-america-power-transformer-market

Transmission Upgrades and Renewables Drive Transformer Demand

SRI estimates that transmission upgrades funded by GRIP and the Bipartisan Infrastructure Law add 2.0 percentage points to market growth, while renewable energy interconnections supported by IRA tax credits add 1.5 points. Data center expansion in Virginia, Texas, Arizona, and Ohio adds 1.0 point, and Canadian grid expansion by Hydro-Québec and IESO adds 0.8 points.

Spare transformers are the fastest-growing product type at a 7.1% CAGR, above 765 kV (UHV) is the fastest-growing voltage rating at 7.0%, and renewable power producers are the fastest-growing end user at 7.0%. The market is expected to reach USD 9.47 billion by 2030. In June 2026, Hitachi Energy began building a USD 457 million large power transformer plant in South Boston, Virginia.

Market Segmentation

By Product Type: Generator Step-Up (GSU) Transformers, Transmission Substation Transformers, Autotransformers, Phase-Shifting Transformers, HVDC Converter Transformers, Spare Transformers (Grid Resilience Reserves), Mobile Substation Transformers, and Renewable Collector Step-Up Transformers. Renewable collector step-up transformers lead with 24%.

By Power Rating: Up to 10 MVA, 10 to 100 MVA, 100 to 500 MVA, 500 to 1,000 MVA, and Above 1,000 MVA. 100 to 500 MVA leads with 30%.

By Voltage Rating: Up to 66 kV, 66 to 132 kV, 132 to 220 kV, 220 to 400 kV, 400 to 765 kV (EHV), and Above 765 kV (UHV). 132 to 220 kV leads with 25%.

By Cooling Method: ONAN, ONAF, OFAF, ODAF, OFWF, and Dry-Type Air Cooled (AN/AF). ONAF leads with 25%.

By Insulation: Mineral Oil-Immersed, Natural Ester Fluid-Immersed, Synthetic Ester Fluid-Immersed, Gas-Insulated (SF6), and Cast Resin Dry-Type. Mineral oil-immersed leads with 40%.

By End User: Transmission Utilities (TSOs), Distribution Utilities (DSOs), Conventional Power Generation, Renewable Power Producers (Wind & Solar), Industrial (Metals, Chemicals, Mining), Data Centers, and Railways & Traction. TSOs lead with 30%.

By Country: United States, Canada, Mexico, Dominican Republic, Guatemala, Panama, Costa Rica, and Rest of North America.

Regional Outlook

The report covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The United States leads with an 83.65% share in 2025 (USD 5.73 billion, growing to USD 11.14 billion by 2035 at a 6.9% CAGR), followed by Canada at 9.12% (USD 625 million, 5.9% CAGR) and Mexico at 5.02% (USD 344 million, 5.8% CAGR). The source provides no further region-specific market values or growth rates.

Competitive Landscape

The report names Hitachi Energy, Siemens Energy, Prolec GE, HD Hyundai Electric, Hyosung HICO, WEG, and Virginia Transformer Corp as key companies. SRI estimates that the five largest companies hold about 40% of North America revenue; Hitachi Energy holds a 10% share, Siemens Energy 9%, Prolec GE 8%, HD Hyundai Electric 7%, Hyosung HICO 6%, WEG 5%, and Virginia Transformer Corp 5%.

Market Restraints

Supply chain challenges, including long lead times and import dependence, reduce growth by an estimated 1.5 percentage points, and lengthy regulatory approval processes subtract a further 0.8 points.

Related Reports

https://www.strategicrevenueinsights.com/industry/europe-wire-and-cable-market

https://www.strategicrevenueinsights.com/industry/asia-pacific-smart-meter-market

https://www.strategicrevenueinsights.com/industry/latin-america-electric-two-wheeler-market

https://www.strategicrevenueinsights.com/industry/middle-east-africa-semiconductor-market

https://www.strategicrevenueinsights.com/industry/middle-east-africa-lithium-ion-battery-market

https://www.strategicrevenueinsights.com/industry/middle-east-africa-battery-energy-storage-system-market

https://www.strategicrevenueinsights.com/industry/latin-america-renewable-energy-market

https://www.strategicrevenueinsights.com/industry/japan-semiconductor-foundry-market

https://www.strategicrevenueinsights.com/industry/india-sustainable-aviation-fuel-market

https://www.strategicrevenueinsights.com/industry/australia-antimony-market

Frequently Asked Questions

What is the size of the north america power transformer market in 2025?

The market is valued at USD 6.85 billion in 2025.

What will be the market size by 2035?

The market is projected to reach USD 13.11 billion by 2035.

What is the expected CAGR of the north america power transformer market?

The market is projected to expand at a CAGR of 6.7% from 2026 to 2035.

Which segment is largest in the north america power transformer market?

Renewable collector step-up transformers are the largest product type with a 24% share in 2025.

Which region leads the north america power transformer market?

The United States leads with an 83.65% share in 2025 (USD 5.73 billion, growing to USD 11.14 billion by 2035 at a 6.9% CAGR), followed by Canada at 9.12% (USD 625 million, 5.9% CAGR) and Mexico at 5.02% (USD 344 million, 5.8% CAGR).

About Strategic Revenue Insights Inc.

Strategic Revenue Insights Inc., part of SRI Consulting Group Ltd, is a London-headquartered market intelligence firm that helps organizations across industries and geographies make evidence-based revenue and strategy decisions. The firm produces syndicated research reports and customized consulting engagements built on rigorous market sizing, forecasting, and competitive benchmarking, drawing on a globally connected team of analysts and consultants.

Media Contact Information

Company Name: Strategic Revenue Insights Inc.

Contact Person: Rohit Bhisey

Email: sales@strategicrevenueinsights.com

Phone: +44-787-740-3352

Address: Suite 10, Capital House, 61 Amhurst Road, London, E8 1LL, United Kingdom

Corporate Websites:

www.strategicrevenueinsights.com

www.strategicpackaginginsights.com

www.sriconsultinggroupltd.com

https://strategicrevenueinsights.blog/

https://medium.com/@strategic-revenue-insights.inc

https://www.strategicrevenueinsights.com/press-releases