Lighting, Power & Electronic Products

Electrical Transformers: Market Size, Growth & Forecast to 2030

The Electrical Transformers market is valued at about $73.5 billion (2026) and is projected to grow at a 5.6% CAGR through 2030. The largest cost driver is Grain-Oriented Electrical Steel (GOES) (35% of spend). Asia Pacific leads demand at 40%.

Market size
$73.5 bn (2026)
CAGR to 2030
+5.6%
Buyer power
Favours buyers
Tracked suppliers
45
Projected market growth (index, 2026 = 100)
Base year 2026
Official data · Claight projectionForecast
Market size index, 2026 = 100, at the 5.6% CAGR.
Forecast
2026
2027
2028
2029
2030
2031
2026 base: 1002031 est: 131

Cost structure

Grain-Oriented Electrical Steel (GOES)
35%
Copper and Aluminum Conductive Windings
25%
Structural Steel and Containment Tanks
15%
Insulation Fluids and Cellulose Paper
10%
Labor and Manufacturing Overhead
15%

Regional demand split

Asia Pacific demand
40%
North America demand
25%
Europe demand
20%
Middle East & Africa demand
8%
Rest of world demand
7%

Key suppliers

Hitachi EnergySiemens AGGeneral ElectricSchneider ElectricToshiba Corporation
Read the full Electrical Transformers report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/electrical-transformers