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The World Markets For Transformers 2025 – 2030 – 2035

Publisher Goulden Reports
Published Jun 01, 2026
Length 257 Pages
SKU # BFJQ21374393

Description

The World Markets For Transformers 2025 – 2030 – 2035

9th Annual Report and Database

THIS EDITION OF THE TRANSFORMER REPORT CONTAINS THE VERY LATEST AVAILABLE MARKETDATA.

OUR PREVIOUS 2023 TO 2033 EDITION BEGAN TO REFLECT THE UNPRECIDENTED DEMAND THAT HASFOLLOWED THE GEOPOLITICAL UNCERTAINTIES BUT COULD NOT ADDRESS THE RAPID CHANGES INTHE SUPPLY AND DEMAND FOR TRANSFORMERS. IT IS NOW POSSIBLE TO SEE THE PAST AND FUTUREDIRECTION OF TRAVEL AND THE CHANGING WORLD THROUGH THE NEXT DECADE.

We have been publishing our report on an annual basis since 2016 usually in the summer each year. This editionhowever has been advanced to the 1st quarter to provide the earliest possible trends and changes in demand patterns. Itdoes allow us to provide the optimum up-to-date statistics and early intelligence on changes in a more measured manner.

As before this edition is a complete, stand-alone, self substantive report and is priced at £4,500.00. We do not expectclients to commit to a subscription deal but we will offer discounts for purchasers returning in future years.

We have enhanced the content of the report to include an executive summary which will summarize market trends,M&A activity, manufacturing and competitor trends, raw material pricing levels, and investment trends of the user base.

The rationale for the future estimates and forecasts will also be provided. There will also be a narrative summary foreach geographical region commenting on issues relates specifically to that region.

The published report is delivered in PDF format and this will be accompanied by an Excel workbook containing thedatabase of statistics for the report.

The Report covers all Transformers larger than 16kVA for the period 2020 to 2035segmented into the following types, for each country:

Equipment Type: Type of Transformer:

Generator Transformers Oil Filled

Transmission Transformers Cast Resin & Dry Types

Distribution Transformers Synthetic Fluid Filled

Pole top Transformers

By Size: By Customer Type:
5kVA - 50kVA Utility Companies
50kVA – 500kVA Construction & Industry
500kVA – 5MVA Rail & Transport
5MVA – 50MVA Mining, Marine & Offshore
50MVA – 150MVA
Over 150MVA

The report includes:
  • Detailed data on over 160 national markets for Transformers by Type and MVA Demand
  • Market values and growth rates for all countries, from 2018 to 2023
  • Market value and MVA growth rate forecasts for all countries, from 2023 to 2028
  • Market value and MVA growth rate trends for all countries from 2028 to 2033
  • Import and export values for each country by equipment type 2018 to 2022
  • Three year rolling average import values, with % shares by origin
  • Global trade - Import and export of transformer parts
  • A Supplier Matrix of Major Manufacturers and Products Supplied
  • Estimates of sales of the world’s leading manufacturers of Transformers, with estimates of sales per
  • region, equipment type and customer type.
  • Production data (by value) for major manufacturing nations
  • Country infrastructure data and plans

Table of Contents

257 Pages
1. INTRODUCTION
1.1 OBJECTIVES AND SCOPE
1.2 Limitations & Assumptions
1.3 METHODOLOGY
2. SUMMARY
2.1 Regional Market developments
2.1.1 Western Europe
2.1.2 Eastern Europe
2.1.3 Former FSU
2.1.4 Africa
2.1.5 Middle East
2.1.6 Indian Sub Con
2.1.7 Asia
2.1.8 South And Central America
2.1.9 North America
2.1.10 Australasia
3. THE WORLD MARKET
3.1 FORECAST WORLD MARKET 2020-2035
4. THE WORLD’S MAJOR TRANSFORMER MANUFACTURERS
4.1 TRANSFORMER INDUSTRY CONTACT DETAILS
4.1.1 ABB
4.1.2 Aichi
4.1.3 BHEL
4.1.4 CG Group
4.1.5 Daihen
4.1.6 Eaton Cooper
4.1.7 GE
4.1.8 Hitachi
4.1.9 Howard
4.1.10 Hyosung
4.1.11 Hyundai
4.1.12 JHSP
4.1.13 Meidensha
4.1.14 Mitsubishi
4.1.15 Nissin
4.1.16 Schneider
4.1.17 SGB-SMIT Group
4.1.18 Siemens
4.1.19 SPX Waukesha
4.1.20 Takaoka
4.1.21 TBEA
4.1.22 Toshiba
4.1.23 TWBB - Baoding
4.1.24 WEG
4.1.25 XD Group
4.1.26 ZTR
5. REGIONAL MARKETS
5.1 WESTERN EUROPE
5.3 EASTERN EUROPE
5.4 FORMER SOVIET UNION
5.5 NORTH AFRICA
5.6 WEST AFRICA
5.7 CENTRAL AFRICA
5.8 EAST AFRICA
5.9 SOUTHERN AFRICA
5.10 MIDDLE EAST
5.11 INDIAN SUB CONTINENT
5.12 ASIA
5.13 SOUTH AMERICA
5.14 CENTRAL AMERICA AND CARIBBEAN
5.15 NORTH AMERICA
5.16 OCEANIA
6. PRODUCTION
7. TRADE ANALYSIS
7.1 TOP 25 EXPORTERS
7.2 TOP 25 IMPORTERS
7.3 EXPORT BY DESTINATION
7.4 IMPORT VALUES & TYPICAL SUPPLIER PROFILES TOP 25
8. TRADE IN TRANSFORMER PARTS
8.1 Top 15 Exporters of Transformer Parts by Destination
9. APPENDICES
9.1 COUNTRY PROFILES BY REGION
9.1.1 Western Europe
9.1.2 Eastern Europe
9.1.3 Former Soviet Union
9.1.4 North Africa
9.1.5 West Africa
9.1.6 Central Africa
9.1.7 East Africa
9.1.8 South Africa
9.1.9 Middle East
9.1.10 Indian Subcontinent
9.1.11 Asia
9.1.12 South America
9.1.13 Central America &Caribbean
9.1.14 North America
9.1.15 Australasia
9.2 EXCHANGE RATES
9.3 ESTIMATED PRODUCTION BY COMPANY BY COUNTRY
TABLE OF TABLES
1. INTRODUCTION
1.1 OBJECTIVES AND SCOPE
1.2 Limitations & Assumptions
1.3 METHODOLOGY
2. SUMMARY
The Largest National Markets for Transformers 2025 (US$ Million)
2.1 Regional Market developments
2.1.1 Western Europe
2.1.2 Eastern Europe
2.1.3 Former FSU
2.1.4 Africa
2.1.5 Middle East
2.1.6 Indian Sub Con
2.1.7 Asia
2.1.8 South And Central America
2.1.9 North America
2.1.10 Australasia
3. THE WORLD MARKET
The World Market for Transformers, by Region, 2020 - 2025 (US$ Million)
The World Market for Transformers, by Region, 2020/2025
(% Change)
The World Market for Transformers, by Region, by Function Type 2025 (US$ Millions)
The World Market for Transformers, by Region, by Number of Units 2025 (Units)
The World Market for Transformers, by Region, by Function Type 2025 (MVA)
The World Market for Transformers, by Region, by Insulation Type 2025 (US$ Million)
The World Market for Transformers, by Region, by Size of Transformer 2025 (US$ Million)
The World Market for Transformers, by Region, by End Use Customer 2025 (US$ Million)
3.1 FORECAST WORLD MARKET 2020-2035
The Forecast World Market for Transformers, by Region, 2020 - 2035 (US$ Million)
THEORETICAL Forecast World Market for Transformers, by Region, 2020 – 2035 (GVA Demand)
CALCULATED Forecast World Market for Transformers, by Region, 2020 – 2035 (GVA Demand)
4. THE WORLD’S MAJOR TRANSFORMER MANUFACTURERS
Leading Manufacturers’ Sales of Transformers 2025 (US$ Million)
Leading Manufacturers’ Sales of Transformers, per Region, 2025 (US$ Million) - continued
Leading Manufacturers’ Sales of Power Transformers 2025 (US$ Million)
Leading Manufacturers’ Sales of Power Transformers 2025 (US$ Million)
Leading Manufacturers’ Sales of Distribution Transformers 2025 (US$ Million)
Leading Manufacturers’ Sales of Distribution Transformers 2025 (US$ Million)
4.1 TRANSFORMER INDUSTRY CONTACT DETAILS
4.1.1 ABB
4.1.2 Aichi
4.1.3 BHEL
4.1.4 CG Group
4.1.5 Daihen
4.1.6 Eaton Cooper
4.1.7 GE
4.1.8 Hitachi
4.1.9 Howard
4.1.10 Hyosung
4.1.11 Hyundai
4.1.12 JHSP
4.1.13 Meidensha
4.1.14 Mitsubishi
4.1.15 Nissin
4.1.16 Schneider
4.1.17 SGB-SMIT Group
4.1.18 Siemens
4.1.19 SPX Waukesha
4.1.20 Takaoka
4.1.21 TBEA
4.1.22 Toshiba
4.1.23 TWBB - Baoding
4.1.24 WEG
4.1.25 XD Group
4.1.26 ZTR
5. REGIONAL MARKETS
5.1 WESTERN EUROPE
Western Europe: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Western Europe: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Western Europe: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Western Europe: The Market for Transformers, by Country, 2025 (MVA)
Western Europe: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Western Europe: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Western Europe: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Western Europe: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Western Europe: Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Western Europe: Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.3 EASTERN EUROPE
Eastern Europe: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Eastern Europe: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Eastern Europe: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Eastern Europe: The Market for Transformers, by Country, 2025 (MVA)
Eastern Europe: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Eastern Europe: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Eastern Europe: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Eastern Europe: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Eastern Europe: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Eastern Europe: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.4 FORMER SOVIET UNION
Former Soviet Union: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Former Soviet Union: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Former Soviet Union: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Former Soviet Union: The Market for Transformers, by Country, 2025 (MVA)
Former Soviet Union: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Former Soviet Union: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
.
Former Soviet Union: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand) .77 Former Soviet Union: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Former Soviet Union: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Former Soviet Union: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.5 NORTH AFRICA
North Africa The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
North Africa: The Market for Transformers, by Country, 2020 - 2025 (% Change)
North Africa: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
North Africa: The Market for Transformers, by Country, 2025 (MVA)
North Africa: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
North Africa: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
North Africa: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
North Africa: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
North Africa: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
North Africa: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.6 WEST AFRICA
West Africa: The Market for Transformers, by Country, 2020 – 2025 (US$ Thousand)
West Africa: The Market for Transformers, by Country, 2020 - 2025 Change)
West Africa: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
West Africa: The Market for Transformers, by Country, 2025 (MVA)
West Africa: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
West Africa: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
West Africa: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
West Africa: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
West Africa: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
West Africa: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.7 CENTRAL AFRICA
Central Africa: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Central Africa: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Central Africa: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Central Africa: The Market for Transformers, by Country, 2025 (MVA)
Central Africa: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Central Africa: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Central Africa: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Central Africa: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Central Africa: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Central Africa: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.8 EAST AFRICA
East Africa: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
East Africa: The Market for Transformers, by Country, 2020 - 2025 (% Change)
East Africa: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
East Africa: The Market for Transformers, by Country, 2025 (MVA)
East Africa: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
East Africa: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
East Africa: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
East Africa: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
East Africa: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
East Africa: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.9 SOUTHERN AFRICA
Southern Africa: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Southern Africa: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Southern Africa: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Southern Africa: The Market for Transformers, by Country, 2025 (MVA)
Southern Africa: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Southern Africa: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Southern Africa: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Southern Africa: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Southern Africa: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Southern Africa: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.10 MIDDLE EAST
Middle East: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Middle East: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Middle East: The Market for Transformers, by Country, 2025 (MVA)
Middle East: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Middle East: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Middle East: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Middle East: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Middle East: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Middle East: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.11 INDIAN SUB CONTINENT
Indian Sub Con.: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Indian Sub Con.: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Indian Sub Con.: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Indian Sub Con.: The Market for Transformers, by Country, 2025 (MVA)
Indian Sub Con.: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Indian Sub Con.: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Indian Sub Con.: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Indian Sub Con.: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Indian Sub Con.: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Indian Sub Con.: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.12 ASIA
Asia: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Asia: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Asia: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Asia: The Market for Transformers, by Country, 2025 (MVA)
Asia: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Asia: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Asia: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Asia: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Asia: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Asia: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.13 SOUTH AMERICA
South America: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
South America: The Market for Transformers, by Country, 2020 - 2025 (% Change)
South America: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
South America: The Market for Transformers, by Country, 2025 (MVA)
South America: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
South America: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
South America: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
South America: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
South America: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
South America: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.14 CENTRAL AMERICA AND CARIBBEAN
Central America and Caribbean: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Central America and Caribbean: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Central America and Caribbean: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Central America and Caribbean: The Market for Transformers, by Country, 2025 (MVA)
Central America and Caribbean: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
.
Central America and Caribbean: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Central America and Caribbean: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Central America and Caribbean: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Central America & Caribbean: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Central America & Caribbean: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.15 NORTH AMERICA
North America: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
North America: The Market for Transformers, by Country, 2020 - 2025 (% Change)
North America: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
North America: The Market for Transformers, by Country, 2025 (MVA)
North America: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
North America: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
North America: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
North America: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
North America: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
North America: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
5.16 OCEANIA
Oceania: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Oceania: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Oceania: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Oceania: The Market for Transformers, by Country, 2025 (MVA)
Oceania: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Oceania: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Oceania: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Oceania: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Oceania: The Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Oceania: The Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
6. PRODUCTION
The Top 35 Producers of Transformers, 2025 (US$ Million)
7. TRADE ANALYSIS
7.1 TOP 25 EXPORTERS
The Top 25 Exporters of Power & Distribution Transformers, 2022 to 2025e (US$ Thousands)
The Top 25 Exporters of Transformers up to 650kVA 2021 to 2024 (US$ Thousands)
The Top 25 Exporters ofTransformers, 650-10,000kVA 2021 to 2024 (US$ Thousands)
The Top 25 Exporters of Transformers,over 10,000kVA 2021 to 2024 (US$ Thousands)
The Top 25 Exporters of Dry Transformers,up to 500kVA 2021 to 2024 (US$ Thousands)
The Top 25 Exporters of Dry Transformers over 500kVA 2021 to 2024 (US$ Thousands)
7.2 TOP 25 IMPORTERS
The Top 25 Importers of Power & Distribution Transformers, 2022 to 2025e (US$ Thousands)
The Top 25 Importers of Transformers up to 650kVA 2021 to 2024 (US$ Thousands)
The Top 25 Importers of Transformers 650-10,000kVA 2021 to 2024 (US$ Thousands)
The Top 25 Importers of Transformers over 10,000kVA 2021 to 2024 (US$ Thousands)
The Top 25 Importers of Dry Transformers up to 500kVA 2021 to 2024 (US$ Thousands)
The Top 25 Importers of Dry Transformers Over 500kVA 2021 to 2024 (US$ Thousands)
7.3 EXPORT BY DESTINATION
The Top 25 Exporters of Transformers to Principal Destinations, Austria-Canada, 2024 ($ Thousands)
The Top 25 Exporters of Transformers to Principal Destinations, China-Croatia, 2024 ($ Thousands)
The Top 25 Exporters of Transformers to Principal Destinations, Czech Rep-Finland, 2024 ($ Thousands)
The Top 25 Exporters of Transformers to Principal Destinations, France-Hungary, 2024 ($ Thousands)
The Top 25 Exporters of Transformers to Principal Destinations, India-Italy, 2024 ($ Thousands)
The Top 25 Exporters of Transformers to Principal Destinations, Korea S-Netherlands, 2024 ($ Thousands)
The Top 25 Exporters of Transformers to Principal Destinations, Poland-Slovenia, 2024 ($ Thousands)
The Top 25 Exporters of Transformers to Principal Destinations, Spain-Switzerland, 2024 ($ Thousands)
The Top 25 Exporters of Transformers to Principal Destinations, Taiwan-USA, 2024 ($ Thousands)
7.4 IMPORT VALUES & TYPICAL SUPPLIER PROFILES TOP 25
Import Values By Importing Country, USA – Germany, 2024 (US$ Thousand & % of Total)
Import Values By Importing Country, Saudi Arabia - UK, 2024 (US$ Thousand & % Total)
Import Values By Importing Country, Spain-Canada, 2024 (US$ Thousand & % Total)
Import Values By Importing Country, France-Netherlands, 2024 (US$ Thousand & % Total)
Import Values By Importing Country Sweden-Italy, 2024 (US$ Thousand & % Total)
Import Values By Importing Country, Australia-Malaysia, 2024 (US$ Thousand & % Total)
Import Values By Importing Country, Denmark-Austria, 2024 (US$ Thousand & % Total)
Import Values By Importing Country, Mexico – Indonesia, 2024 (US$ Thousand & % Total)
Import Values By Importing Country, Egypt–Thailand, 2024 (US$ Thousand & % Total)
Import Values By Importing Country, Uzbekistan-Greece, 2024 (US$ Thousand & % Total)
Import Values By Importing Country Vietnam–Philippines 2024 (US$ Thousand & % Total)
8. TRADE IN TRANSFORMER PARTS
Exports of Transformer Parts, by Country, 2020 to 2024 (US$ Thousand)
Imports of Transformer Parts, by Country, 2020 to 2024 (US$ Thouisand)
8.1 Top 15 Exporters of Transformer Parts by Destination
Exports of Transformer Parts by Country Austria-China, 2021 (% of Total)
Exports of Transformer Parts by Country China HK-Germany, 2021 (% of Total)
Exports of Transformer Parts by CountryIndia-Japan, 2021 (% of Total)
Exports of Transformer Parts by Country Mexico-Singapore, 2021 (% of Total)
Exports of Transformer Parts by Country Sweden-Vietnam, 2021 (% of Total)
9. APPENDICES
9.1 COUNTRY PROFILES BY REGION
9.1.1 Western Europe
W Europe – Country by Country Profiles
W Europe – Country by Country Profiles - continued
9.1.2 Eastern Europe
E Europe – Country by Country Profiles
9.1.3 Former Soviet Union
FSU – Country by Country Profiles
9.1.4 North Africa
N. Africa – Country by Country Profiles
9.1.5 West Africa
W. Africa – Country by Country Profiles
9.1.6 Central Africa
Central Africa – Country by Country Profiles
9.1.7 East Africa
East Africa – Country by Country Profiles
9.1.8 South Africa
South Africa – Country by Country Profiles
9.1.9 Middle East
Middle East – Country by Country Profiles
9.1.10 Indian Subcontinent
Indian Subcon. – Country by Country Profiles
9.1.11 Asia
Asia – Country by Country Profiles
Asia – Country by Country Profiles - continued
9.1.12 South America
South America – Country by Country Profiles
9.1.13 Central America &Caribbean
C. America &Caribb. – Country by Country Profiles
C. America &Caribb. – Country by Country Profiles - continued
9.1.14 North America
North America – Country by Country Profiles
9.1.15 Australasia
Australasia – Country by Country Profiles
9.2 EXCHANGE RATES
Exchange Rates for Major Currencies against US Dollar 2020-2025
9.3 ESTIMATED PRODUCTION BY COMPANY BY COUNTRY
Estimated Production by Company by Country Millions US Dollar 2025
1. INTRODUCTION
1.1 OBJECTIVES AND SCOPE
The objective of this report is to provide a concise overview of the world transformer market. The report gives an estimate of the volume and value of transformer consumption in each national market, broken down by product category. For the purposes of this report the categories of transformers have been defined as follows:
• Generator Transformers - defined as step-up transformers or GSU transformers attached to power generation plants. The purpose of these transformers is to increase the voltage from alternator output to transmission level. Traditionally these units were principally 10MVA or larger (up to 500MVA nuclear or fossil fuel generator GSU’s); however with the increasing use of smaller renewable wind, solar and other embedded power sources these are now sized down to 1MVA and less.
• Transmission Transformers - defined as transformers installed in transmission sub-stations. For the purposes of this report, Transmission Transformers are further defined as generally in developing markets having a power handling capacity equal to, or greater than, 5MVA and in industrialised countries nearer 10MVA. Also know as system transformers, the purpose of these transformers is to step-down the voltage from transmission levels to sub-transmission and distribution levels.
• Distribution Transformers - defined as transformers installed in distribution and consumer sub-stations. Distribution Transformers are further defined as generally having a power handling capacity of less than 5MVA and in industrialised countries nearer 10MVA.
These categories include all transformers with a power handling capacity exceeding 16kVA. Measuring transformers, instrument transformers or transformers for use in civil aircraft are not included in this report.
The scope for this report is world-wide - that is, every country having a significant transformer customer base. The report is designed to be used as a first line planning tool by companies interested in the global market for transformer products and as a screen on which to identify national markets worthy of further investigation.
1.2 Limitations & Assumptions
It is necessary to state at the outset of this edition of the global report on Transformers some of the “known knowns” and the “unknown knowns” that have affected, and will continue to affect, the global markets over the next decade.
Until late 2019 the prospects for most electrical engineering products were looking quite positive, there was global positivity, investments in critical infrastructure were being planned and implemented and controlled growth was the order of the day.
The global pandemic – Covid 19 – changed, challenged and threw into disarray the global market outlook and within a period of 3 months it became evident that things would not proceed as had been thought and a global rethink would be necessary.
In the 2022 edition of the report the market had still not returned to the total stability that existed before the pandemic. Global trade, production and development were all severely affected for the whole of 2020 and early 2021. Most countries implemented restrictions on the population resulting in a cessation of all but essential work and industrial production, trade in manufactured goods slowed to a trickle and demand vanished. The resulting shortages of labour and materials forced up prices and the establish links between market values and market volumes have been re-written. We have entered an inflationary period which is a bonus for producers seeking to rebuild margins but makes supply chains very much less stable than pre 2020.
The world was slowly recovering from this situation and indeed there had been something of a bounce-back, but as of February 2022 markets and manufacturers were thrown another curve-ball and are attempting to come to terms with the geopolitical events in Russia, Ukraine more broadly Western and Eastern Europe. These developments are far more difficult to interpret and for which the outcome is still very uncertain. Clearly the current double digit price increases in energy costs will further drive inflationary pressures, will further hamper international trade, and will severely affect the future of companies in that part of the world.
This edition of the transformers report was approaching completion prior to publication in March 2026 when the USA and Israel began hostilities with Iran. A further complication was added to the global geopolitical situation. Originally slated to be finalised within 6 weeks we began to reassess the effects on global transformer markets. 14 weeks later as this report in finally published, the conflict has still not been resolved.
We have taken a pragmatic approach at the moment. Some countries in the gulf area have been effected by the conflict and the short term and medium term estimates have been reduced. The wider effects on energy supply and prices have been built into the wider global markets but we have assumed only limited impact on the USA.
1.3 METHODOLOGY
Data in the markets report is presented in both thousands or millions of US dollars, and in terms of power capacity (MVA). The salient points of the methodology are as follows:-
• For the data presented in US dollars, the survey was based primarily on desk research, including a review of available published production and trade statistics. Import and export figures are calculated from national and United Nations’ figures for each year to 2024 or 2005 (where available) the most comprehensive and up-to-date statistics available. Market values are assumed to be equal to Production + (Imports - Exports). National production estimates are based on statistics provided by national governments and trade associations. Market sizes beyond 2025 are estimated by analysing a range of economic indicators together with trends in trade flow and the pattern of market size growth over the period 2019-2025.
• Market values for the period 2026 to 2035 have been estimated based on two separate methodologies. Firstly the past growth rate in market values for each country have been extrapolated and have been compared with general macro-economic indicators such as GDP, GDP growth and inputs to the value added for each economy. Secondly, the development of the electrical power system in each country has been studied to provide indications for future system growth, and hence transformer market growth.
• The current and future MVA demand for each country has been forecast using two separate methodologies, designated “Theoretical” and “Calculated” using the following methodologies.
Theoretical
The current year-on-year growth in installed capacity for each country has been tracked for the last 40 years. The development over the last ten years has been used as the basis for establishing the new MVA of generator capacity in each country for the period 2023 to 2033. To this new capacity has been added the power station capacity that is necessary to replace redundant or retired plant. Typical rates for this are based on 2.5% of the installed capacity in the period 1976 to 2022, yielding an assumed plant life of approximately 46 years. The new and replacement generator MVA has then been used as the basis for estimating the transmission and distribution transformer MVA over the forecast period; and hence the total Theoretical MVA demand. The benefits of this method are that it allows for long term forecasting based on factual installed capacities; the downside of this method are that it assumes that the future will be exactly the same as the past and utility companies do not order X MVA of generating capacity and then immediately order Y MVA of transmission capacity and Z MVA of distribution transformer capacity.
Calculated
The methodology used for estimating the Calculated MVA demand is based on the US dollar market value for each type of transformer. The total market value for transformers calculated and segmented into – generator, transmission and distribution transformers. An average $ per MVA figure is then calculated for each type of transformer (generator, transmission and distribution) and the MVA is calculated from the values . The conversion
$/MVA can be adjusted for each country or country group and from this the number of transformers by type can also be calculated. The advantages of this methodology are that is is based on actual year by year market value data and it is type sensitive and more country specific; the downside of this methodology is that it is more dependent on the accuracy of the calculated value/volume across each differing type of transformer.
For the first time in this edition of the report the results of both methodologies are tabulated.
It is important to reiterate that in all Goulden Reports future markets, to not include any inflationary factors. In this case all future values are based on 2025 dollar values and hence growth rates shown are real growth, similarly value per volume calculations are based on 2025 rates .
• Market values are at factory gate prices - they reflect the prices for the products by the importer and do not include trade mark-ups and installation costs. It should be noted that published classifications of products, especially with respect to trade statistics, are sometimes inaccurate, as products may be shipped under generic titles. It should also be noted that Goulden Reports chronicles shipments rather than contracts. A contract to supply goods over a number of years will not appear as a one-off event in a Goulden Report, but rather will be recorded from the trade statistics. The nature of the market means that demand within countries, especially developing ones, can fluctuate greatly from year to year as purchases are often made on a one-off basis rather than spread evenly over a number of years.
• Within national markets, where published figures were unavailable to us, the breakdown between different product categories is based on intelligence about the pattern of consumption in the country concerned. In these cases the breakdown is made from an estimate of the Total market size rather than the value of the entire market being calculated from the individual product categories.
Clients that have purchased previous editions of this report will note that this edition contains a more detailed analysis of the market in each country. Market data by value, by MVA, by insulation type, by size, by end use and forecasts through to 2035 by value and by MVA are all included in this report.
Figures for non-UN countries are based on data obtained from individual countries and are consequently not necessarily comparable with UN-derived information. Clearly the report is only as accurate as the information upon which it draws - the sources are regarded as being the best and most comprehensive available.
2. SUMMARY
The world market for transformers in 2025 was estimated to total US$82.1 billion, having increased from US$69.8 billion in 2024; an increase of 17.6% in value. The market had fallen in the covid 19 pandemic and post-pandemic period of 2020 and 2021 (the global market decreased by 1.5% in 2021). However since that time the world has seen double digit growth year on year.
The largest top 20 markets in 2025 are shown in tab le 1 below.
Table
The Largest National Markets for Transformers 2025 (US$ Million)
Country Market Size 2025 % of Total
Source: Goulden Reports and United Nations
The domination of China in this table is clear but the market is becoming increasingly “top heavy” with the top five accounting for XXX% of the market and the top ten nearly XXX%. North America accounts for XXX% of the market and Western Europe totals over 15%. The market evolution over the last decade is shown on chart 1 below.
Chart
Global market evolution 2015 to
The regional market trends are shown in Chart 2 below. As can be seen the Chinese market dominates; however there is good browth in all other regions.
Chart
Regional Market Evolution 2015 to
The trade in transformers has increased dramatically over the period following the Covid 19 pandemic. It is noticeable that most growth has been in the Power and large distribution segments. Chart 3 illustrates the trends.
Chart
Global Trade Value by Year 2006 to
Interestingly due to the large increase 2023 on 2022 the percentage chage over the same timeframe, the slightly lower percentage increase 2024 on 2023 is visible in chart 4 below.
Chart
Global Trade Growth Evolution by Type 2006 to
2.1 Regional Market developments
2.1.1 Western Europe
2.1.2 Eastern Europe
2.1.3 Former FSU
2.1.4 Africa
2.1.5 Middle East
2.1.6 Indian Sub Con
2.1.7 Asia
2.1.8 South And Central America
2.1.9 North America
3. THE WORLD MARKET
Table
The World Market for Transformers, by Region, 2020 - 2025 (US$ Million)
Region 2020 2021 2022 2023 2024
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America & Caribbean
North America Oceania
World
Source: Goulden Reports and United Nations
Table
The World Market for Transformers, by Region, 2020/2025 (% Change)
Region 2020/2019 2021/2020 2022/2021 2023/2022 2024/2023 2025/
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America And Caribbean North America
Oceania
World
Source: Goulden Reports and United Nations
Table
The World Market for Transformers, by Region, by Function Type 2025 (US$ Millions)
Region Generator Transmission Distribution Of Which -
Pole Top Total
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America Caribbean
North America Oceania
World
Source: Goulden Reports and United Nations
Table
The World Market for Transformers, by Region, by Number of Units 2025 (Units)
Region Generator Transmission Distribution Pole Top Total
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America Caribbean
North America Oceania
World
Source: Goulden Reports and United Nations
Table
The World Market for Transformers, by Region, by Function Type 2025 (MVA)
Region Generation Transformers Transmission Transformers Distribution Transformers Total
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America and Caribbean North America
Oceania
World
Source: Goulden Reports and United Nations
Table
The World Market for Transformers, by Region, by Insulation Type 2025 (US$ Million)
Region Oil Filled Safety Fluid Cast Resin & Dry Types Total
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America and Caribbean North America
Oceania
World
Source: Goulden Reports and United Nations
Table
The World Market for Transformers, by Region, by Size of Transformer 2025 (US$ Million)
Region Over
MVA 50 to
MVA 5 to
MVA 0.5 to
MVA 50 to
kVA 5 to
kVA Total
Western Europe Eastern Europe
Former Soviet Union
North Africa West Africa Central Africa East Africa Southern Africa Middle East Indian Sub Con Asia
South America
Central America and Caribbean
North America Oceania
World
Source: Goulden Reports and United Nations
Table
The World Market for Transformers, by Region, by End Use Customer 2025 (US$ Million)
Region Utility Organisations Construction & Industry Rail & Transport Mining, Marine & Offshore Total
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America and Caribbean
North America Oceania
World
Source: Goulden Reports and United Nations
3.1 FORECAST WORLD MARKET 2020-
Table
The Forecast World Market for Transformers, by Region, 2020 - 2035 (US$ Million)
Region 2020 2025 2030 2035 Cagr 20-
25 Cagr 25-
30 Cagr 30-
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America and Caribbean
North America Oceania
World
Source: Goulden Reports
Table
THEORETICAL Forecast World Market for Transformers, by Region, 2020 – 2035 (GVA Demand)
Region 2020 2025 2030 2035 Cagr 20-
25 Cagr 25-
30 Cagr 30-
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America and Caribbean
North America Oceania
World
Source: Goulden Reports
Table
CALCULATED Forecast World Market for Transformers, by Region, 2020 – 2035 (GVA Demand)
Region 2020 2025 2030 2035 Cagr 20-
25 Cagr 25-
30 Cagr 30-
Western Europe Eastern Europe Former Soviet Union North Africa
West Africa Central Africa East Africa Southern Africa Middle East
Indian Sub Continent Asia
South America
Central America and Caribbean
North America Oceania
World
4. THE WORLD’S MAJOR TRANSFORMER MANUFACTURERS
This table has been compiled from published sources and are designed to serve only as a general overview.
Table
Leading Manufacturers’ Sales of Transformers 2025 (US$ Million)
Company Country Transformer Sales 2025 Estimated World Market Share %
Aichi
Japan
BHEL India
CG Group India
Daihen Japan
Eaton Cooper USA
EFACEC Portugal
GE USA
Hitachi Japan
Howard USA
Hyosung Korea
Hyundai Korea
JHSP China
JST France
Meidensha Japan
Mitsubishi Japan
Nissin Japan
Schneider France
SGB Group Neth/Germany
Siemens Germany
Takaoka Japan
Tamini Italy
TBEA China
Toshiba Japan
TWBB - Baoding Baoling Transformer Co Ltd China
WEG Brazil
Wilson Australia
XD Group China
Sub-Total
Other
Total
Source: Goulden Reports continued ………
Table 12 Continued
Leading Manufacturers’ Sales of Transformers, per Region, 2025 (US$ Million)
Company Western Europe Eastern Europe & Former USSR Africa Middle East
Aichi BHEL
CG Group Daihen
Eaton Cooper
EFACEC GE
Hitachi Howard Hyosung Hyundai JHSP JST
Meidensha Mitsubishi Nissin Schneider SGB Group Siemens Takaoka Tamini TBEA
Toshiba
TWBB - Baoding Baoling Transformer Co Ltd
WEG
Wilson XD Group
Sub-Total
Other
Total
continued...
Table 12 Continued
Leading Manufacturers’ Sales of Transformers, per Region, 2025 (US$ Million) - continued
Company Asia-Pacific North America South & Cen'l America & Caribbean Total
Aichi BHEL
CG Group Daihen
Eaton Cooper EFACEC
GE
Hitachi Howard Hyosung Hyundai JHSP JST
Meidensha Mitsubishi Nissin Schneider SGB Group Siemens Takaoka Tamini TBEA
Toshiba
TWBB - Baoding Baoling Transformer Co Ltd
WEG
Wilson XD Group
Sub-Total
Other
Total
Source: Goulden Reports
Table
Leading Manufacturers’ Sales of Power Transformers 2025 (US$ Million)
Company Western Europe Eastern Europe & Former USSR Africa Middle East
Aichi BHEL
CG Group Daihen
Eaton Cooper EFACEC
GE
Hitachi Howard Hyosung Hyundai JHSP JST
Meidensha Mitsubishi Nissin Schneider SGB Group Siemens Takaoka Tamini TBEA
Toshiba
TWBB - Baoding Baoling Transformer Co Ltd
WEG
Wilson XD Group
Sub-Total
Other
Total
Source: Goulden Reports continued ….
Table 13 Continued
Leading Manufacturers’ Sales of Power Transformers 2025 (US$ Million)
Company Asia-Pacific North America South & Cen'l America & Caribbean Total
Aichi BHEL
CG Group Daihen
Eaton Cooper EFACEC
GE
Hitachi Howard Hyosung Hyundai JHSP JST
Meidensha Mitsubishi Nissin Schneider SGB Group Siemens Takaoka Tamini TBEA
Toshiba
TWBB - Baoding Baoling Transformer Co Ltd
WEG
Wilson XD Group
Sub-Total
Other
Total
Source: Goulden Reports
Table
Leading Manufacturers’ Sales of Distribution Transformers 2025 (US$ Million)
Company Western Europe Eastern Europe & Former USSR Africa Middle East
Aichi BHEL
CG Group Daihen
Eaton Cooper EFACEC
GE
Hitachi Howard Hyosung Hyundai JHSP JST
Meidensha Mitsubishi Nissin Schneider SGB Group Siemens Takaoka Tamini TBEA
Toshiba
TWBB - Baoding Baoling Transformer Co Ltd
WEG
Wilson XD Group
Sub-Total
Other
Total
Source: Goulden Reports continued ….
Table 16 Continued
Leading Manufacturers’ Sales of Distribution Transformers 2025 (US$ Million)
Company Asia-Pacific North America South & Cen'l America & Caribbean Total
Aichi BHEL
CG Group Daihen
Eaton Cooper EFACEC
GE
Hitachi Howard Hyosung Hyundai JHSP JST
Meidensha Mitsubishi Nissin Schneider SGB Group Siemens Takaoka Tamini TBEA
Toshiba
TWBB - Baoding Baoling Transformer Co Ltd
WEG
Wilson XD Group
Sub-Total
Other
Total
Source: Goulden Reports
4.1 TRANSFORMER INDUSTRY CONTACT DETAILS
4.1.1 ABB
On December 17, 2018, Hitachi and ABB signed the acquisition agreement for 80.1% of the shares of the company operating power grids business that had been separated out from ABB. On July 1, 2020, Hitachi acquired 80.1% of the shares of the company and reanmed the entity Hitachi ABB Power Grids. Hitachi ABB Power Grids was subsequently renamed to become Hitachi Energy from October 2021.
In December 2022 it was announced that the final remaining 19.9% of the shares had been acquired by Hitachi. For further details see Hitachi entry below.
Hitachi Energy Ltd
Corporate Communications
P.O. Box
CH-8050 Zurich Switzerland
Tel: +41 (0)43 317 71
Fax: +41 (0)43 317 79
www.abb.com
Hitachi Energy Transformers
Affolternstrasse
8050 Zurich Switzerland
Tel: +41 0 43 317 7111`
Fax: +41 0 43 317
Formerly as ABB the international manufacture in plants grown organically and by acquisition; became increasingly more specialist. Transformer operations in more than 30 plants and 20 countries including; India, Italy, USA, Finland, Denmark, Germany, Norway, Spain, Sweden, Switzerland, Poland, Romania, Egypt, Turkey, Indonesia, Philippines, China, Vietnam, Brazil, Colombia. The sale of ABB powergrid operations to Hitachi will change the landscape of the global manufacturing base well into the 2020’s decade.
4.1.2 Aichi
HEAD OFFICE/FACTORY
1, Aichi-cho, Kasugai city,
Aichi pref. 486-8666 Japan
Tel:+81-568-35-1141 Fax:+81-568-35-
TOKYO OFFICE
Shintomicyo Bldg., 2nd Floor, 3-10-9,Irifune,
Chuo-ku,
Tokyo 104-0045 Japan
Tel:+81-3-3537-1811/ Fax:+81-3-3537-
OSAKA OFFICE
Shin-Ujiden Bldg., 4th Floor, 1-2-6, Sonezaki,
Kita-ku, Osaka 530-0057 Japan
Tel:+81-6-6362-6871 Fax:+81-6-6365-
4.1.3 BHEL
Registered Office BHEL
House, Siri Fort, New Delhi - 110049, India.
Tel: +91 11 66337000 (multiple lines)
Fax: +91 11 26493021; +91 11
4.1.4 CG Group
Registered Office
Crompton Greaves Limited CG House, 6th Floor
Dr. Annie Besant Road Worli
Mumbai - 400 030 Maharastra, INDIA
Tel : +91 22 2423
Fax : +91 22 2423
Following well publicised accounting irregularities and subsequent restructuring CG Group retains manufacturing of transformers in India.
Transformers Manufacturing Units T1 - Kanjur, Mumbai
Kanjur Marg (East),
Mumbai-400042, India.
Tel: +91 22 2578 2974,
Fax: +91 22 6755 8305. 2579 8214, 2578
T2 - Malanpur,
Plot No. T1 - T5 MPAKVN Industrial Area, Malanpur (Dist. Bhind),
Pin-477116,
Madhya Pradesh, India.
Tel: +91 7539 2835 02 / 3 / 5 / 7, 3012 00, 3012
Fax: +91 7539 2835 85, 3012
T3 - Manideep
Plot No. 29, 31 &
New Industrial Area No.1, AKVN, District - Raisen, Mandideep - 462046, Madhya Pradesh, India.
Tel: +91 7480 4082 85 / 6, 4082
Fax: +91 7480 4082 08, 4082
The following overseas operations have been either closed or divested and will be reported separately in future editions of this report:-
Distribution Transformer Division Power Transformer Division Antwerpsesteenweg
B-2800 Mechelen, Belgium
Tel : + 32 15 283
Fax : + 32 15 283
Distribution Transformers Dublin Rd
Cavan
Republic of Ireland Tel: +353 49 433
Fax: +353 49 433
Power Transformers Máriássyutca 7.
Budapest Hungary
Tel: +36 1
Power Transformer Division 101 Rockman Street Winnipeg, Manitoba Canada, R3T 0L
Tel: +1 204-452-
Distribution Transformer Division One Pauwels Drive
Washington, MO 63090, USA
Tel: +1 636-239-
Fax: +1 636-239-
Power Transformer Division 6349 Avantha Drive
Washington, MO 63090, USA
Tel: +1 636-239-
Fax: +1 636-239-
4.1.5 Daihen
DAIHEN Corporation 2-1-11 Tagawa, Yodogawa-ku,
Osaka, 532-8512,
Japan
4.1.6 Eaton Cooper
Eaton Center
1000 Eaton Boulevard
Cleveland, Ohio
(440) 523-
and
Eaton's Cooper Business
600 Travis Street, Suite
Houston, Texas 77002-
(713) 209-
Eaton's Cooper Power Systems Business
2300 Badger Drive
Waukesha, WI 53188-
(262) 896-
4.1.7 GE
Corporate Headquarters
General Electric Company 3135 Easton Turnpike
Fairfield, CT
Tel: +1(203) 373-
And:-
GE Prolec
Blvd. Carlos Salinas de Gortari Km. 9.25 Apodaca, N.L.
66600 Mexico
Tel: 1-800-437-
+52 (81) 8030-
+52 (81) 8030-
Fax+52 (81) 8030-
GE (was Alstom Grid)
51,Esplanade du Général de Gaulle Paris, La Défense
France
Tel: 00 33 (0)1 49 01 61
4.1.8 Hitachi
Hitachi Energy
Affolternstrasse
8050 Zurich Switzerland
Tel: +41 0 43 317 7111`
Fax: +41 0 43 317
And at:-
1-8-13, Sotokanda, Chiyoda,
Tokyo, 101-
Japan
On December 17, 2018, Hitachi and ABB signed the acquisition agreement for 80.1% of the shares of the company operating power grids business that had been separated out from ABB. On July 1, 2020, Hitachi acquired 80.1% of the shares of the company and reanmed the entity Hitachi ABB Power Grids. Hitachi ABB Power Grids was subsequently renamed to become Hitachi Energy from October 2021.
“Hitachi Energy is a global technology leader that is advancing a sustainable energy future for all. We serve customers in the utility, industry and infrastructure sectors with innovative solutions and services across the value chain. Together with customers and partners, we pioneer technologies and enable the digital transformation required to accelerate the energy transition towards a carbon-neutral future. We are advancing the world’s energy system to become more sustainable, flexible and secure whilst balancing social, environmental and economic value. Hitachi Energy has a proven track record and unparalleled installed base in more than 140 countries. Headquartered in Switzerland, we employ around 38,000 people in 90 countries and generate business volumes of approximately $10 billion USD.”
In December 2022 it was announced that the final remaining 19.9% of the shares had been acquired by Hitachi.
Hitachi, Ltd., Kokubu Engineering & Product Division
Role:-Development/design/manufacturing
(transmission and conversion systems, receiving and conversion systems) 1-1-1, Kokubu-cho, Hitachi,
Ibaraki, 316-8501 Japan
Hitachi, Ltd., Omika Works
Role; Development/design/manufacturing (Power System Information and Controls) 5-2-1, Omika-cho, Hitachi,
Ibaraki, 319-1293 Japan
Hitachi HVB, inc.
Role:- Sales/manufacturing 7250 McGinnis Ferry Rd. Suwanee, GA 30024 U.S.A.
PT. Hitachi Power Systems Indonesia
Role:- Manufacturing
EJIP Industrial Park Plot 8E Cikarang Selatan,
Bekashi,
The Republic of Indonesia
Hitachi Fortune Transformer, Inc.
Role:- Sales/manufacturing
Located in Port of Taichung Free Trade Zone, Taichung
Taiwan
4.1.9 Howard
Howard Industries
3225 Pendorff Road
Laurel, MS 39440 USA
Tel: +1 601-425-
Fax: +1 601-649-
And at
Ellisville Mississippi Facility
1520 Highway 11 South
Ellisville, MS 39437 USA
4.1.10 Hyosung
Hyosung Corporation Power & Industrial Performance Group
119, Mapo-daero, Mapo-gu,
Seoul, (121-720)
Korea
Tel: +82-2-707-
Fax: +82-2-707-
Changwon Plant
171, Yeondeok-ro, Seongsan-gu,
Changwon-si, Gyeongsangnam-do(641-712), Korea
Phone +82-1588-
Fax +82-55-282-
Jochiwon Plant 142, Gongdan-ro, Yeongi-gun,
Chungcheongnam-do, (339-823) Korea
Phone +82-41-860-
Fax +82-41-860-
Boading Hyosung Tianwei Transformer Co., Ltd.
No.3888 ChaoyangNorthroad, Baoding City,
Hebei province, China
Phone +86-312-332-
Fax +86-312-332-
Nantong Hyosung Transformer Co., Ltd.
No. 88 Xiaoxing Avenue, Haian Development Zone, Jiangsu, (100004)
China
Phone +86-513-8890-
Fax +86-513-8881-
4.1.11 Hyundai
Hyundai Heavy Industries
Electro Electric Systems
1000, Bangeojinsunhwan-doro, Dong-gu,
Ulsan, 682-792,
South Korea
Tel: +82-52-202-
Hyundai Power Transformers USA, Inc
215 Folmar Parkway Montgomery,
AL 36105 USA
Tel: +1 (334) 481-
Fax: +1 (334) 481-
Hyundai Heavy Industries Co
41, Rojen Blvd.
1271 Sofia Bulgaria
4.1.12 JHSP
JiangSuHuaPeng Transformer Co., Ltd
68 Kunlun Developemnt Zone Liyang City,
Jiangsu Province, China
Tel:+86-519-87319099 Fax:+86-519-
4.1.13 Meidensha
Meidensha Corporation ThinkPark Tower, 2-1-1 Osaki, Shinagawa-ku,
Tokyo, 141-
Japan
Tel: +81-3-6420-
Fax: +81-3-5745-
Meiden Numazu Works
Numazu-shi Shizuoka Prefecture Japan
Meiden Singapore Pte Ltd
5 JalanPesawat
Singapore 619363 Power/Distribution Transformers Tel: 6268
Fax: 6268
4.1.14 Mitsubishi
Mitsubishi Electric Corporation
Ako Works
1288-1 Fujiwarashinden Tenwa, Ako
Hyogo Japan
Mitsubishi Electric Power Products Inc
Power Transformer Division 2865 Riverport Rd
Memphis, TN 38109 USA
Tel: (901) 566-
4.1.15 Nissin
Nissin Electric Co., Ltd. 47, Umezu-Takase-cho, Ukyo-ku,
Kyoto 615-8686,
Japan
Tel: +81-75-861-
Fax: +81-75-864-
And at:
2121, Soja, Soja-Machi, Maebashi,
Gunma Pref. 371-8515, Japan
Tel: +81-27-251-
Fax: +81-27-254-
4.1.16 Schneider
Schneider Electric SA.
35, rue Joseph Monier – CS 30323 F-92506 Rueil-Malmaison Cedex France
Tél. : +33 (0) 1 41 29 70
Fax : +33 (0) 1 41 29 71
Australia – Benalla
Industry leading Australian manufacturing plant for oil filled distribution transformers and kiosks. Over 35years experience designing and building kiosks for Australian utilities and various other market sectors. Innovations include internal arc rated kiosks, automated kiosks and cyclone rated kiosks.
Turkey - Cayirova
Manufacturing plant for oil distribution transformers, medium power transformers, cast resin transformers and special transformers.
France - Fontenay
Specialised manufacturing plant for impregnated and cast resin transformers, impregnated and cast resin reactors and special winding transformers (earthing transformers, motor starting transformers, rectifier transformers).
France - Metz
Centre of Excellence for Schneider Electric. Spread over three sites manufacturing a broad range of oil and dry type transformers.
Indonesia - Jakarta
An expanding manufacturing plant that offers oil distribution transformers, medium power transformers and special transformers (Zone 2 Hazardous transformers, autotransformers and phase shifting transformers).
India - Vadodara
There are two manufacturing sites in India with over 50+ years of experience in total. The plants manufacture generator, furnace, isolation, earthing, converter duty/rectifier duty, auto and reactor transformers.
China - Suzhou
The plant in Suzhouhas over 20 years experience in cast resin dry-type technology and produce the Trihal range of transformers. The transformers have a fire proof resin filter and the core is made with grain oriented silicon steel, which minimises loss and noise levels.
Brazil
The Brazilian manufacturing plant was originally established in 1976, Blumenau, Santa Catatrina. The plant offers dry epoxy resin encapsulated transformers as well as inductance, control, measurement and power transformers.
Greece
An industrial site with 40 years of experience capable of manufacturing oil immersed (mineral or vegetable oil), natural cooling, wound-core and distribution transformers.
The plant specialises in the manufacture of amorphous core, photo voltaic and windfarm transformers.
Poland
Specialised manufacturing factory with almost 70 years of experiences in the design and production of oil-immersed and cast resin transformers. The factory also specialises in production of epoxy resin/fibreglass dry type transformers ideal for Industrial applications.
4.1.17 SGB-SMIT Group
Ohmstrasse
93055 Regensburg Germany
Phone +49 941 7841-
Fax +49 941 7841-
e-mail [email protected]
SGB-SMIT Group comprises subsidiaries in Germany, the Netherlands, Romania, France, the Czech Republic, USA, Malaysia, China, India and South Africa. The group has been assembled from the merger of locally operating, highly successful medium-sized companies.
The SGB-SMIT Group focuses on the manufacture of transformers the Group develops and produces power transformers from 30 kVA up to incl. 1,200 MVA within the voltage range of up to 765 kV.
Manufacturing, sales and service network:-Starkstrom-Gerätebau GmbH, Regensburg (Germany)
Sächsisch-Bayerische Starkstrom-Gerätebau GmbH, Neumark (Germany) Royal SMIT Transformers B.V., Nijmegen (The Netherlands) RETRASIB S.A., Sibiu (Romania)
SGB CZECH TRAFO S.R.O., Olomouc (Czech Republic) BCV Technologies S.A.S., Fontenay-le-Comte (France) SGB-USA Inc., Louisville, OH (USA)
OTC Services Inc., Louisville, OH (USA)
SGB-SMIT Sales Inc., Summerville, SC (USA)
SGB-SMIT POWER MATLA (Pty) Ltd., Pretoria West (South Africa) SGB-SMIT POWER MATLA (Pty) Ltd., Cape Town (South Africa) SGB CHINA, Changzhou (P.R. China)
SGB TRANSFORMERS INDIA Pvt. Ltd., Chennai (India) SGB MY Sdn. Bhd., Nilai (Malaysia)
4.1.18 Siemens
HQ
Siemens AG
Wittelsbacherplatz
80333 Munich Germany
Energy Division Siemens AG Freyeslebenstrasse
91058 Erlangen Germany
Produces power transformers at:-
Linz and Weiz in Austria; Nuremburg and Dresden in Gerfmany; Trento in Italy; Zagred in Croatia; Voronezh in Russia; Mumbai in Indsia; Guangzhou, Jinan and Wuhan in China; Jundiai in Brazil; Bogota in Colombia; and Guanajuato in Mexico. Distribution transformers in Weiz in Austria; Kichheim in Germany; Sabugo in Portugal; Budapest in Hungary; and TroisRiviers in Canada. The UAE facility is now Transtech – a licenceeproducing distribution tranformers and the Pakistan facility is being sold.
4.1.19 SPX Waukesha
SPX Transformer Solutions, Inc.
Corporate Headquarters/Transformer Manufacturing 400 S. Prairie Avenue
Waukesha, WI 53186 USA
Tel:+1 800-835-
Fax:+1 262-521-
And at
SPX Transformer Solutions, Inc.
Transformer Manufacturing Facility and Offices 2701 US Highway 117 South
Goldsboro, NC 27530 USA
Tel:+1 800-758-
Fax:+1 919-580-
4.1.20 Takaoka
Takaoka Toko Co., Ltd. 8f, SiaToyosu Prime Square, 5-6-36 Toyosu,
Koto-Ku, Tokyo 135-0061, Japan
Tel: +81-3-6371-
Fax: +81-3-6371-
Principal Plant 1440, Nakakuki, Oyama-shi, Tochigi, 323-0806, Japan
Tel: +81-285-22-
Fax: +81-285-22-
Also at
80, Nagare, Jimokuji,
Ama-shi, Aichi, 490-1111, Japan
Tel: +81-52-444-
Fax: +81-52-445-
Takaoka Electric manufactures and sells electrical equipment primarily to the Japanese market. The company was founded in 1918 and employs 1,086 people. The revenue of fiscal year March 2014, was $627 million. The company offers power transformers (gas-insulated and oil-immersed), on-load tap changing transformers (gas-insulated and oil-immersed), distribution transformers, mobile transformers, and mold-type transformers; horizontal break, vertical break, and pantograph disconnectors, as well as on-load switches; and gas-insulated switchgear, cubicle-type gas-insulated switchgear, and gas circuit breakers.
4.1.21 TBEA
Tebian Electricity Apparatus Stock Co., Ltd.
No. 52 South Yan'an Road,
Changji, 831100Xinjiang China
Tel: 0994-
Fax: 0994-
Website: www.tbea.com.cn
TBEA Shenyang Transformer Co., Ltd.
No. 18, No 2 Middle School Road, Tiexi District,
110025Shenyang, Liaoning Province China
Tel: 024-
Fax: 024-
TBEA Hengyang Transformer Co., Ltd.
Baishazhou, 421007Hengyang, Hunan Province Tel: 0734-
Fax: 0734-
TBEA Xinjiang Transformer Co., Ltd
No. 52 South Yan'an Road, Changji,
831100Xinjiang China
Tel: 0994-
Fax: 0994-
TBEA Tianjin Transformer Co., Ltd.
North Yard, Nanniwan Road, Huanghedao, Nankai District, 300112Tianjin China
Tel: 024-
Fax: 024-
4.1.22 Toshiba
Toshiba Corp
1-1, Shibaura 1-chome, Minato-ku,
Tokyo 105-8001,
Japan
Tel:+81-3-3457-4511 Fax:+81-3-3456-
Toshiba Corporation Social Infrastructure Systems Company Transmission & Distribution Systems Division
72-34 Horikawa-cho, Saiwai-ku Kawasaki-shi, Kanagawa 212-8585, Japan
Principal Transformer plant:-
Hamakawasaki Operations 2-1 Ukishima-cho, Kawasaki-ku Kawasaki-shi, Kanagawa 210-0862,
Japan
Tel: +81-44-288-
Toshiba Infrastructure South America Ltd (TIC-SA)
RodoviaFernão Dias, 3045 Bandeirantes
Contagem/MG CEP 32240-090 Brazil
Tel: +55 31 3329-
Fax: + 55 31 3329-
And at
Toshiba Infrastructure South America Ltd (TIC-SA)
Betim,
Minas Gerais, Brazil Products:
Medium- and large-capacity power transformers Construction: Started in May 2011, completed in May
Changzhou Toshiba Transformer Co., Ltd.
No.86, Longjiang Road, Changzhou,
Jiangsu, 213012, China
Tel: +86 (0519) 8325-
Changzhou Toshiba Shudian Transformer Co., Ltd.
No. 75 Feilong West Road, Changzhou ,
Jiangsu, 213012, China
Tel: +86 (0519) 8397-
4.1.23 TWBB - Baoding
Tianwei Group
No. 3688 Xiangyang North Street, Baoding,
Hebei China
Email: [email protected] Tel: +86 (312)
Fax: +86 (312)
Power Transmission & Transformation Business (large transformer)
No. 2222 Tianwei West Road, Baoding,
071056 Hebei, China
Tel: +86 (312)
International sales: [email protected] Fax: +86 (312)
Power Transmission & Transformation Business (Special type transformer and dry type transformer) No.2399 Tianwei West Road,
Baoding, Hebei 071056, China
Phone: +86 (312)
Fax: +86 (312)
Email: [email protected]
4.1.24 WEG
WEG EquipamentosElétricos S.A. - Headquarters
Av. Pref. WaldemarGrubba, 3000 89256-900Jaraguá do Sul– SC Brazil
Tel: +55 47 3276-
Fax: +55 47 3276-
Website: http://www.weg.net
WEG EquipamentosElétricos S.A. - Manufacturing Plant IV
RuaDr. Pedro Zimmermann,
BairroItoupava Central 89068-001Blumenau – SC Brazil
Tel: +55 47 3337-
Fax: +55 47 3337-
WEG Industrial Plant IX - Hortolândia/SP Rod.Jorn. Francisco Aguirre Proença Hortolandia SP
Brazil
WEG ItajaíEquipamentosElétricos S.A.
Rua Rosa OrsiDalsóquio, 100 88311-720Itajaí– SC
Brazil
Tel: +55 47 3276
Industrial Plant VIII - Gravataí UnidadeGravataí
Rodovia RS20 - km 6,5 Gravataí– RS
Brazil
Tel: +51 3489.2500 - (51) 2131.
Fax: +51 3489.
WEG VOLTRAN S.A. DE C.V
Sur 2 No 11 Zona Industrial
Tizayuca - CP 43805 Hidalgo
Mexico
Tel: +52 77 9796
WEG TRANSFORMADORES MEXICO S.A. DE C.V
CarreterasJorobas , S/N - Tula Km 3.5 Parque Industrial Huehuetoca Municipio de Huehuetoca
CD. de México y ÁreaMetropolitana Mexico
Tel: +52 55 5321 4285 - +52 55 5321
WEG Transformers Africa 3b Van Deventer Street, Wadeville, Germiston Johannesburg
Email: [email protected] Tel: +27 (0) 11 827 3458/
4.1.25 XD Group
Xi'an Electric Manufacturing Corp
No.7 Tangxing Road, P.C: 710075 Xian,
P.R.China
Tel: (029)
Fax: (029)
E-mail: [email protected]
Xi’an XD Transformer Co., Ltd
No.485 Daqing Road, Xian, P.C:
P.R. China
Tel: +86-029-
Fax: +86-029-
E-mail: [email protected]
4.1.26 ZTR
Zaporozhtransformator PJSC
DnepropetrovskoeShosse,
69600, Zaporozhe, Ukraine
Tel: +38 (061) 270-39-
Fax: +38 (061) 270-37-
--OOOOOOOO--
5. REGIONAL MARKETS
5.1 WESTERN EUROPE
Table
Western Europe: The Market for Transformers, by Country, 2020 - 2025 (US$ Thousand)
Country 2020 2021 2022 2023 2024
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: The Market for Transformers, by Country, 2020 - 2025 (% Change)
Country 2020/2019 2021/2020 2022/2021 2023/2022 2024/2023 2025/
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: The Market for Transformers, by Country, by Type 2025 (US$ Thousand)
Country Generation Transformer Transmission Transformer Distribution Transformer Of Which
Pole Top Total
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: The Market for Transformers, by Country, 2025 (MVA)
Country Generation Transformers Transmission Transformers Distribution Transformers Total
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: The Market for Transformers, by Country, by Insulation 2025 (US$ Thousand)
Country Oil Filled Safety Fluid Cast Resin & Dry Types Total
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: The Market for Transformers, by Country, by Size of Transformer 2025 (US$ Thousand)
Country Over
MVA 50 to
MVA 5 to
MVA 0.5 to
MVA 50 to
kVA 5 to
kVA
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: The Market for Transformers, by Country, by End Use Customer 2025 (US$ Thousand)
Country Utility Organisations Construction & Industry Rail & Transport Mining, Marine & Offshore Total
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: The Market for Transformers, by Country, 2020 - 2035 (US$ Thousand)
Country 2020 2025 2030 2035 Cagr 20-25 Cagr 25-30 Cagr 30-
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: Theoretical Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Country 2020 2025 2030 2035 Cagr 20-25 Cagr 25-30 Cagr 30-
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
Table
Western Europe: Calculated Market for Transformers, by Country, 2020 - 2035 (MVA Demand)
Country 2020 2025 2030 2035 Cagr 20-25 Cagr 25-30 Cagr 30-
Austria Belgium Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy
Luxembourg Malta Netherlands Norway Portugal Spain Sweden Switzerland
United Kingdom
Total
Source: Goulden Reports and United Nations
5.3 EASTERN EUROPE
SAME TABLES AS PER WEST EUROPE ABOVE
5.4 FORMER SOVIET UNION
SAME TABLES AS PER WEST EUROPE ABOVE
5.5 NORTH AFRICA
SAME TABLES AS PER WEST EUROPE ABOVE
5.6 WEST AFRICA
SAME TABLES AS PER WEST EUROPE ABOVE
5.7 CENTRAL AFRICA
SAME TABLES AS PER WEST EUROPE ABOVE
5.8 EAST AFRICA
SAME TABLES AS PER WEST EUROPE ABOVE
5.9 SOUTHERN AFRICA
SAME TABLES AS PER WEST EUROPE ABOVE
5.10 MIDDLE EAST
SAME TABLES AS PER WEST EUROPE ABOVE
5.11 INDIAN SUB CONTINENT
SAME TABLES AS PER WEST EUROPE ABOVE
5.12 ASIA
SAME TABLES AS PER WEST EUROPE ABOVE
5.13 SOUTH AMERICA
SAME TABLES AS PER WEST EUROPE ABOVE
5.14 CENTRAL AMERICA AND CARIBBEAN
SAME TABLES AS PER WEST EUROPE ABOVE
5.15 NORTH AMERICA
SAME TABLES AS PER WEST EUROPE ABOVE
5.16 OCEANIA
SAME TABLES AS PER WEST EUROPE ABOVE
6. PRODUCTION
Table
The Top 35 Producers of Transformers, 2025 (US$ Million)
Country Rank Previous Rank Production % share
Source: Goulden Reports and United Nations
7. TRADE ANALYSIS
7.1 TOP 25 EXPORTERS
Table
The Top 25 Exporters of Power & Distribution Transformers, 2022 to 2025e (US$ Thousands)
Country 2022 2023 2024 2025e % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers up to 650kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters ofTransformers, 650-10,000kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers,over 10,000kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Dry Transformers,up to 500kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Dry Transformers over 500kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
7.2 TOP 25 IMPORTERS
Table
The Top 25 Importers of Power & Distribution Transformers, 2022 to 2025e (US$ Thousands)
Country 2022 2023 2024 2025e % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Importers of Transformers up to 650kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Importers of Transformers 650-10,000kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Importers of Transformers over 10,000kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Importers of Dry Transformers up to 500kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
Table
The Top 25 Importers of Dry Transformers Over 500kVA 2021 to 2024 (US$ Thousands)
Country 2021 2022 2023 2024 % Total
Source: Goulden Reports and United Nations
7.3 EXPORT BY DESTINATION
Table
The Top 25 Exporters of Transformers to Principal Destinations, Austria-Canada, 2024 ($ Thousands)
Austria Brazil Canada
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers to Principal Destinations, China-Croatia, 2024 ($ Thousands)
China Colombia Croatia
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers to Principal Destinations, Czech Rep-Finland, 2024 ($ Thousands)
Czech Rep Denmark Finland
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers to Principal Destinations, France-Hungary, 2024 ($ Thousands)
France Germany Hungary
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers to Principal Destinations, India-Italy, 2024 ($ Thousands)
India Indonesia Italy
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers to Principal Destinations, Korea S-Netherlands, 2024 ($ Thousands)
Korea South Mexico Netherlands
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers to Principal Destinations, Poland-Slovenia, 2024 ($ Thousands)
Poland Saudi Arabia
Slovenia
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers to Principal Destinations, Spain-Switzerland, 2024 ($ Thousands)
Spain Sweden Switzerland
Source: Goulden Reports and United Nations
Table
The Top 25 Exporters of Transformers to Principal Destinations, Taiwan-USA, 2024 ($ Thousands)
Taiwan Turkey USA
Source: Goulden Reports and United Nations
7.4 IMPORT VALUES & TYPICAL SUPPLIER PROFILES TOP
Table
Import Values By Importing Country,
USA – Germany, 2024 (US$ Thousand & % of Total)
USA Value % Germany Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country,
Saudi Arabia - UK, 2024 (US$ Thousand & % Total)
Saudi Arabia Value % UK Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country, Spain-Canada, 2024 (US$ Thousand & % Total)
Spain Value % Canada Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country,
France-Netherlands, 2024 (US$ Thousand & % Total)
France Value % Netherlands Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country Sweden-Italy, 2024 (US$ Thousand & % Total)
Sweden Value % Italy Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country, Australia-Malaysia, 2024 (US$ Thousand & % Total)
Australia Value % Malaysia Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country, Denmark-Austria, 2024 (US$ Thousand & % Total)
Denmark Value % Austria Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country, Mexico – Indonesia, 2024 (US$ Thousand & % Total)
Mexico Value % Indonesia Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country, Egypt–Thailand, 2024 (US$ Thousand & % Total)
Egypt Value % Thailand Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country, Uzbekistan-Greece, 2024 (US$ Thousand & % Total)
Uzbekistan Value % Greece Value %
Source: Goulden Reports and United Nations
Table
Import Values By Importing Country Vietnam–Philippines 2024 (US$ Thousand & % Total)
Vietnam Value % Philippines Value %
Source: Goulden Reports and United Nations
8. TRADE IN TRANSFORMER PARTS
Table
Exports of Transformer Parts, by Country, 2020 to 2024 (US$ Thousand)
Country 2020 2021 2022 2023 2024 % Share
Source: Goulden Reports and United Nations
Table
Imports of Transformer Parts, by Country, 2020 to 2024 (US$ Thouisand)
Country 2020 2021 2022 2023 2024 % Share
Source: Goulden Reports and United Nations
8.1 Top 15 Exporters of Transformer Parts by Destination
Table
Exports of Transformer Parts by Country Austria-China, 2021 (% of Total)
Destination From Austria Destination From Canada Destination From China
Source: Goulden Reports and United Nations
Table
Exports of Transformer Parts by Country China HK-Germany, 2021 (% of Total)
Destination From Hong Kong Destination From France Destination From Germany
Source: Goulden Reports and United Nations
Table
Exports of Transformer Parts by CountryIndia-Japan, 2021 (% of Total)
Destination From India Destination From Italy Destination From Japan
Source: Goulden Reports and United Nations
Table
Exports of Transformer Parts by Country Mexico-Singapore, 2021 (% of Total)
Destination From Mexico Destination From S Korea Destination From Singapore
Source: Goulden Reports and United Nations
Table
Exports of Transformer Parts by Country Sweden-Vietnam, 2021 (% of Total)
Destination From Sweden Destination
From USA Destination
From Vietnam
9. APPENDICES
9.1 COUNTRY PROFILES BY REGION
9.1.1 Western Europe
Table
W Europe – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Austria 83,859 9,261.9 534.3 57,687.8 67,930.6 7,334.4 34,683.7 19,116 101,141 201,
Belgium 30,519 11,855.0 684.9 57,769.9 81,726.3 6,893.8 29,804.9 8,823 98,282 126,
Cyprus 9,251 1,372.2 38.7 28,229.4 5,730.7 4,176.3 2,411.4 1,311 4,467 12,
Denmark 43,094 6,038.6 449.9 74,510.6 34,866.0 5,773.9 19,388.1 8,318 84,154 122,
Finland 338,145 5,665.0 303.9 53,653.5 80,259.0 14,167.6 26,593.0 25,580 129,382 325,
France 551,500 66,761.6 3,211.3 48,100.8 449,817.5 6,737.7 156,947.4 84,660 832,875 735,
Germany 356,733 85,472.2 4,744.8 55,512.8 504,595.0 5,903.6 287,237.8 186,732 724,670 1,303,
Greece 131,957 9,903.8 267.3 26,994.6 52,814.8 5,332.8 28,479.1 14,136 133,422 129,
Iceland 103,000 402.0 35.3 87,841.6 18,978.2 47,213.8 3,033.8 2,024 8,992 6,
Ireland 70,284 5,369.9 598.8 111,518.8 35,077.3 6,532.3 13,774.9 9,949 215,044 84,
Source: Goulden Reports
W Europe – Country by Country Profiles - continued
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Italy 301,268 59,260.1 2,422.9 40,885.1 312,639.7 5,275.7 141,109.7 85,885 593,332 1,131,
Luxembourg 2,586 688.7 96.6 140,289.7 6,420.2 9,322.6 2,272.6 120 3,449 6,
Malta 316 542.5 25.8 47,466.8 3,152.9 5,811.9 733.4 360 2,461 2,
Netherlands 40,844 18,468.7 1,272.0 68,873.8 115,334.7 6,244.9 67,504.7 15,915 161,950 203,
Norway 323,877 5,641.9 504.3 89,380.5 136,156.3 24,133.1 40,653.3 21,570 109,910 91,
Portugal 91,982 10,458.1 321.4 30,736.1 56,317.6 5,385.1 25,784.9 8,073 134,108 162,
Spain 505,992 48,078.0 1,799.5 37,429.0 252,656.5 5,255.1 143,348.4 68,566 255,069 469,
Sweden 449,964 10,679.8 620.3 58,081.3 134,596.0 12,602.9 55,169.8 43,789 214,252 319,
Switzerland 41,284 9,027.3 947.1 104,917.6 61,295.0 6,789.9 29,161.7 12,385 172,444 158,
United Kingdom 244,100 69,690.3 3,839.2 55,089.2 303,091.2 4,349.1 107,313.1 44,145 453,981 416,
W Europe 3,720,555 434,638 22,718 52,269.8 2,713,455 6,243.0 1,215,406 661,459 4,433,385 6,009,
Source: Goulden Reports
9.1.2 Eastern Europe
Table
E Europe – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Albania 28,748 2,779.7 28.4 10,206.7 8,427.7 3,031.8 3,522.0 3,036 33,197 22,
Bosnia 51,129 3,145.6 28.8 9,157.8 11,553.0 3,672.7 4,869.0 2,255 14,151 39,
Bulgaria 110,912 6,735.7 117.0 17,371.2 37,046.6 5,500.1 15,940.7 7,474 100,313 111,
Croatia 56,538 3,874.0 99.0 25,542.2 19,461.0 5,023.5 5,767.2 3,333 21,703 61,
Czech Republic 78,864 11,082.7 360.2 32,505.0 60,328.6 5,443.5 23,060.6 21,008 130,390 188,
Hungary 93,032 9,130.8 237.1 25,963.8 46,697.9 5,114.3 17,050.1 6,626 101,213 131,
Macedonia, TFYR 25,713 1,814.9 17.9 9,854.3 6,300.1 3,471.2 2,843.9 1,691 10,667 30,
Poland 323,250 39,517.1 980.0 24,798.4 157,021.2 3,973.5 66,691.7 23,125 542,706 599,
Romania 238,391 19,021.9 403.4 21,206.9 56,265.0 2,957.9 21,348.7 49,089 288,897 816,
Serbia 88,361 6,737.2 92.5 13,737.1 33,924.2 5,035.4 8,667.5 16,104 223,278 105,
Slovakia 49,012 5,607.8 147.0 26,219.2 23,938.0 4,268.7 7,569.7 9,395 86,158 86,
Slovenia 20,256 2,124.7 75.2 35,404.0 13,844.2 6,515.7 5,351.7 1,605 12,152 31,
E Europe 1,164,206 111,572 2,586 23,182.3 474,808 4,255.6 182,683 144,740 1,564,825 2,225,
Source: Goulden Reports
9.1.3 Former Soviet Union
Table
FSU – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Armenia 29,800 3,068.4 26.3 8,557.5 7,260.6 2,366.2 4,142.0 4,289 35,806 15,
Azerbaijan 86,600 10,364.0 78.9 7,610.0 25,563.8 2,466.6 7,838.0 8,502 57,325 24,
Belarus 207,600 9,000.6 71.6 7,950.7 41,105.9 4,567.0 12,220.0 20,453 53,072 144,
Estonia 45,100 1,401.4 45.0 32,113.5 7,579.9 5,408.8 3,306.1 3,964 25,218 57,
Georgia 69,700 3,832.9 35.4 9,223.5 12,347.4 3,221.4 4,279.3 7,844 63,621 27,
Kazakhstan 2,717,300 20,921.1 300.5 14,365.3 110,389.2 5,276.5 27,369.7 25,651 78,756 211,
Kyrgyzstan 198,500 7,309.0 19.8 2,715.7 18,387.0 2,515.7 3,869.0 4,368 26,603 30,
Latvia 64,600 1,885.1 45.5 24,155.7 7,145.8 3,790.7 3,371.7 3,262 37,231 62,
Lithuania 65,200 2,928.5 89.2 30,457.0 12,538.5 4,281.6 6,263.0 6,495 95,673 123,
Moldova 33,700 3,121.2 19.5 6,235.3 4,295.6 1,376.2 973.8 5,993 68,239 106,
Russia 17,075,400 145,161.7 2,076.4 14,304.0 1,071,802.3 7,383.5 302,988.7 418,739 2,290,532 1,089,
Tajikistan 143,100 10,805.0 14.8 1,373.1 19,897.0 1,841.5 6,611.0 3,693 17,429 49,
Turkmenistan 488,100 7,632.9 89.1 11,667.1 21,136.5 2,769.1 6,511.2 2,505 14,848 43,
Ukraine 603,700 31,101.0 205.7 6,615.3 91,235.3 2,933.5 46,214.5 137,774 988,443 406,
Uzbekistan 447,400 37,079.0 132.5 3,573.0 75,947.5 2,048.3 19,993.1 15,127 88,534 246,
FSU 22,275,800 295,612 3,250 10,994.6 1,526,632 5,164.3 455,951 668,658 3,941,331 2,641,
Source: Goulden Reports
9.1.4 North Africa
Table
N. Africa – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Algeria 2,381,741 47,537.9 268.9 5,656.2 86,904.5 1,828.1 22,463.1 22,758 198,912 227,
Egypt 1,001,449 118,370.8 347.3 2,934.4 210,823.0 1,781.0 61,501.0 82,622 180,074 618,
Libya 1,759,540 7,469.4 47.5 6,357.2 32,398.2 4,337.5 11,424.3 1,855 21,627 8,
Morocco 446,550 38,479.4 165.8 4,309.7 45,662.4 1,186.7 11,893.0 8,051 91,477 122,
Tunisia 163,610 12,362.6 56.3 4,553.3 21,573.4 1,745.1 5,497.0 4,422 44,428 63,
N Africa 5,752,890 224,220 886 3,950.7 397,362 1,772.2 112,778 119,708 536,518 1,041,
Source: Goulden Reports
9.1.5 West Africa
Table
W. Africa – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Benin 112,622 14,814.1 22.2 1,501.0 2,321.0 156.7 542.1 332 2,884 1,
Burkina Faso 274,000 24,059.3 27.1 1,124.6 3,150.0 130.9 734.0 587 5,428 2,
Cameroon 475,442 29,852.5 56.0 1,876.3 8,284.6 277.5 1,830.0 2,029 18,326 7,
Cote d'Ivoire 322,463 32,707.0 94.5 2,888.8 13,936.1 426.1 3,238.1 8,541 66,254 30,
Equatorial Guinea 28,051 1,935.6 12.7 6,553.2 891.0 460.3 553.8 177 1,342
Gabon 267,668 2,592.9 20.4 7,864.2 2,927.3 1,129.0 775.8 537 5,061 2,
Gambia 11,295 2,820.6 2.8 982.4 614.5 217.9 185.7 176 1,352
Ghana 238,533 35,065.4 88.3 2,519.1 22,390.0 638.5 5,899.4 3,811 31,511 14,
Guinea 245,857 15,106.1 30.1 1,992.2 3,325.6 220.1 1,316.0 1,962 17,119 7,
Guinea Bissau 36,125 2,249.0 2.3 1,011.1 197.0 87.6 48.4 106 772
Liberia 111,369 5,732.5 5.2 901.2 586.8 102.4 199.1 348 3,491 1,
Mali 1,240,192 25,162.1 23.2 922.3 4,551.0 180.9 1,360.6 918 8,787 4,
Mauritania 1,025,520 5,316.0 11.5 2,157.6 1,845.0 347.1 727.4 846 6,640 3,
Nigeria 923,768 237,347.0 188.3 793.2 39,567.3 166.7 14,994.0 13,185 25,566 89,
Senegal 196,722 18,930.5 34.7 1,834.5 8,810.3 465.4 1,853.9 2,034 18,131 8,
Sierra Leone 71,740 8,827.9 8.4 949.9 499.0 56.5 213.5 1,119 8,447 3,
Togo 56,785 9,733.5 10.0 1,029.7 2,553.1 262.3 359.3 472 4,044 1,
W Africa 5,638,152 472,252 638 1,350.1 116,449 246.6 34,831 37,179 225,154 180,
Source: Goulden Reports
9.1.6 Central Africa
Table
Central Africa – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Central African Rep. 622,984 5,261.2 2.9 557.3 195.0 37.1 131.3 903 7,556 3,
Chad 1,284,000 21,046.6 18.8 892.9 327.0 15.5 164.8 429 3,260 1,
Congo 342,000 6,478.4 15.3 2,358.7 3,126.7 482.6 842.8 2,422 8,155 1,
Congo Dem. Rep (Zaire) 2,344,858 112,575.3 79.1 702.8 14,922.8 132.6 3,646.5 7,034 63,537 27,
Niger 1,267,000 27,855.7 21.9 785.3 1,657.7 59.5 618.0 720 5,723 2,
Central Africa 5,860,842 173,217 138 796.7 20,229 116.8 5,403 11,508 88,230 36,
Source: Goulden Reports
9.1.7 East Africa
Table
East Africa – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Burundi 27,834 14,426.2 6.7 467.6 430.0 29.8 127.3 641 5,258 2,
Djibouti 23,200 1,184.6 4.6 3,872.1 945.4 798.1 209.3 426 4,009 1,
Ethiopia 1,104,300 135,306.5 117.5 868.1 21,812.8 161.2 6,087.0 5,095 44,713 20,
Kenya 580,367 57,512.1 131.7 2,289.5 14,229.7 247.4 3,306.2 5,170 44,004 68,
Madagascar 587,041 32,713.3 18.7 571.9 2,300.0 70.3 874.4 1,171 9,104 4,
Mauritius 2,040 1,268.5 15.5 12,215.2 366,644.3 289,036.7 900.7 467 4,488 1,
Rwanda 26,338 14,561.4 14.8 1,014.4 1,300.2 89.3 322.3 574 4,923 2,
Somalia 637,657 19,472.1 13.0 667.3 623.2 32.0 486.6 528 4,530 2,
Sudan 2,505,813 51,361.7 31.5 613.4 12,095.7 235.5 4,209.7 4,342 6,655 21,
Tanzania 883,749 70,429.2 86.0 1,220.8 11,878.0 168.7 1,942.8 3,940 34,158 49,
Uganda 241,038 51,344.4 64.3 1,251.9 5,786.9 112.7 1,946.8 4,585 36,609 17,
E Africa 6,619,377 449,580 504 1,121.5 438,046 974.3 20,413 26,939 198,451 192,
Source: Goulden Reports
9.1.8 South Africa
Table
South Africa – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Angola 1,246,700 38,979.7 113.3 2,907.7 14,992.5 384.6 6,782.6 2,057 16,117 7,
Botswana 581,730 2,560.9 19.4 7,575.3 1,384.5 540.6 769.4 541 5,089 2,
Malawi 118,484 22,176.0 14.0 629.5 2,420.7 109.2 944.9 2,037 19,351 8,
Mozambique 801,590 35,593.0 23.8 667.9 16,037.1 450.6 3,125.0 2,637 24,174 10,
South Africa 1,221,037 64,880.3 410.3 6,324.5 261,516.8 4,030.8 59,830.0 24,612 180,144 162,
Zambia 752,618 21,866.0 28.9 1,322.1 12,434.5 568.7 3,999.6 1,565 9,280 3,
Zimbabwe 390,757 16,884.4 38.2 2,260.8 2,119.7 125.5 2,853.0 2,868 16,629 7,
S Africa 5,112,916 202,940 648 3,192.5 310,906 1,532.0 78,305 36,317 270,783 203,
Source: Goulden Reports
9.1.9 Middle East
Table
Middle East – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Bahrain 694 1,642.1 47.8 29,127.1 37,536.7 22,859.2 8,165.9 374 3,150 3,
Iran 1,633,188 92,777.6 341.0 3,675.6 389,365.5 4,196.8 95,044.7 51,101 270,563 471,
Iraq 438,317 47,081.0 258.0 5,480.3 162,651.1 3,454.7 34,936.1 36,786 262,372 90,
Israel 21,056 9,562.6 583.4 61,004.2 72,632.2 7,595.4 25,993.2 2,786 33,984 56,
Jordan 97,740 11,805.1 56.1 4,752.3 26,223.6 2,221.4 7,429.6 2,113 21,631 26,
Kuwait 17,818 5,337.3 153.1 28,685.0 88,093.0 16,505.1 19,377.0 567 6,215 10,
Lebanon 10,400 5,711.5 33.0 5,769.6 6,586.0 1,153.1 3,388.1 1,225 15,260 23,
Oman 212,457 5,687.4 104.4 18,347.9 48,295.1 8,491.7 11,607.0 637 7,651 13,
Qatar 11,000 3,152.3 222.8 70,670.1 54,470.8 17,279.5 12,217.2 238 5,233 6,
Saudi Arabia 2,149,690 32,442.2 1,083.7 33,405.6 424,898.6 13,097.1 121,816.2 15,807 92,463 103,
Syria 185,180 25,859.5 20.3 785.4 23,964.0 926.7 10,175.6 4,488 49,314 83,
Turkey 774,815 87,694.6 1,437.4 16,391.1 330,900.8 3,773.3 121,842.4 49,816 332,571 367,
United Arab Emirates 83,600 11,442.1 548.6 47,945.7 165,109.6 14,430.0 50,582.6 1,756 21,347 32,
Yemen 527,968 41,726.6 17.4 417.0 4,858.1 116.4 2,148.2 1,609 19,055 32,
Middle East 6,163,923 381,922 4,907 12,848.1 1,835,585 4,806.2 524,724 169,301 1,140,809 1,321,
Source: Goulden Reports
9.1.10 Indian Subcontinent
Table
Indian Subcon. – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Afghanistan 652,090 43,206.6 17.9 414.5 7,072.4 163.7 647.6 6,039 69,186 56,
Bangladesh 143,998 175,631.2 467.2 2,660.2 113,803.2 648.0 28,527.2 28,540 122,663 201,
Bhutan 47,000 797.3 3.4 4,291.8 7,553.5 9,473.5 2,467.3 1,362 5,141 8,
India 3,287,590 1,463,362.4 4,187.0 2,861.2 1,927,943.0 1,317.5 545,042.0 748,575 4,799,901 7,889,
Nepal 147,181 30,463.0 46.1 1,512.7 14,695.9 482.4 4,715.9 4,470 47,568 24,
Pakistan 796,095 255,112.2 408.4 1,600.9 141,934.3 556.4 47,410.0 27,652 237,023 124,
Sri Lanka 65,610 23,244.9 114.2 4,913.1 13,903.0 598.1 5,242.5 4,174 37,036 54,
Indian Subcon. 5,139,564 1,991,818 5,244 2,632.9 2,226,905 1,118.0 634,053 820,811 5,318,518 8,359,
Source: Goulden Reports
9.1.11 Asia
Table
Asia – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Brunei Darussalam 5,765 466.1
16.0
34,341.9
5,495.4 11,790.0
1,152.3
330
1,698
2,
Cambodia 181,035 17,868.2 49.8 2,787.0 19,834.9 1,110.1 4,490.0 5,889 38,807 50,
China 9,596,961 1,417,395.7 19,231.7 13,568.3 10,042,961.4 7,085.5 3,348,620.0 2,156,508 10,188,859 12,952,
China, Hong Kong 1,075 7,396.4 424.0 57,325.3 49,972.0 6,756.3 12,369.0 4,247 18,837 33,
China, Macau 18 733.0 53.4 72,786.2 6,235.0 8,505.9 399.8 365 3,408 7,
Indonesia 1,904,569 285,909.1 1,429.7 5,000.7 419,039.0 1,465.6 97,474.4 70,949 936,055 408,
Japan 377,801 123,117.7 4,186.4 34,003.5 926,399.0 7,524.5 378,205.5 135,022 991,361 1,192,
Korea, North 120,538 26,594.9 27.6 1,037.0 555,550.3 20,889.3 8,454.5 9,084 35,018 78,
Korea, South 99,274 51,681.2 1,790.3 34,641.7 543,357.1 10,513.6 159,886.7 34,123 226,095 256,
Source: Goulden Reports
Asia – Country by Country Profiles - continued
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Laos 236,800 7,877.0 16.3 2,072.1 13,729.0 1,742.9 13,226.8 1,901 11,040 16,
Malaysia 329,758 35,987.9 445.0 12,364.8 181,948.3 5,055.8 38,848.4 21,484 83,133 141,
Mongolia 1,566,500 3,523.8 25.8 7,322.8 10,295.4 2,921.7 1,597.6 2,320 21,601 13,
Myanmar 676,578 54,887.8 64.9 1,183.2 17,217.8 313.7 6,521.0 7,713 84,466 44,
Philippines 300,000 116,744.9 497.5 4,261.4 113,175.4 969.4 29,525.0 25,983 229,010 309,
Singapore 618 6,067.5 564.8 93,081.8 57,655.0 9,502.3 12,904.6 2,176 7,788 20,
Taiwan 35,883 23,111.2 804.9 34,826.8 260,417.5 11,268.0 66,145.7 22,818 168,656 180,
Thailand 513,115 71,636.6 546.2 7,624.9 241,948.7 3,377.4 53,036.3 45,276 408,846 534,
Vietnam 331,689 101,695.3 491.0 4,827.9 268,454.8 2,639.8 87,168.6 20,261 132,462 146,
Asia 16,277,977 2,352,694 30,665 13,034.1 13,733,686 5,837.4 4,320,026 2,566,449 13,587,141 16,390,
Source: Goulden Reports
9.1.12 South America
Table
South America – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Argentina 2,780,400 45,799.4 683.5 14,924.5 158,378.0 3,458.1 48,773.0 41,541 114,185 315,
Bolivia 1,098,581 12,578.2 56.3 4,479.1 12,281.8 976.4 4,086.0 4,281 32,312 39,
Brazil 8,547,403 212,809.4 2,126.0 9,990.0 754,372.8 3,544.8 240,753.3 189,750 2,538,021 1,161,
Chile 756,626 19,870.4 343.8 17,303.2 89,573.4 4,507.9 36,474.6 16,756 173,735 140,
Colombia 1,138,914 53,487.6 427.8 7,997.5 86,282.2 1,613.1 19,741.1 27,189 107,665 230,
Ecuador 283,561 18,292.5 125.7 6,870.4 38,435.3 2,101.2 8,331.4 5,375 21,380 47,
Guyana 214,969 835.8 25.8 30,895.5 1,330.0 1,591.3 362.8 746 2,402 5,
Paraguay 406,752 7,011.5 45.5 6,484.3 26,384.2 3,763.0 8,888.2 4,872 10,093 32,
Peru 1,285,216 34,586.0 303.3 8,769.2 63,647.9 1,840.3 16,965.2 12,582 39,779 87,
Suriname 163,265 640.3 4.5 7,037.0 1,989.3 3,106.7 584.7 342 1,117 2,
Uruguay 177,414 3,382.4 79.7 23,572.2 14,665.2 4,335.7 5,298.6 3,725 12,636 27,
Venezuela 912,050 28,476.5 108.5 3,810.5 75,019.1 2,634.4 35,669.6 22,180 84,751 173,
S America 17,765,151 437,770 4,330 9,892.0 1,322,359 3,020.7 425,929 329,338 3,138,076 2,263,
Source: Goulden Reports
9.1.13 Central America &Caribbean
Table
C. America &Caribb. – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Bahamas 13,878 403.2 15.2 37,639.7 2,239.4 5,553.4 700.1 126 1,869 2,
Barbados 430 270.4 7.6 27,931.9 1,055.9 3,905.4 329.0 184 2,399 3,
Belize 22,696 427.9 3.6 8,439.8 794.1 1,856.0 135.5 15 233
Bermuda 53 64.6 9.1 140,519.5 569.6 8,817.3 158.5 85 1,112 1,
Costa Rica 51,100 5,153.0 102.6 19,908.8 12,608.7 2,446.9 3,707.5 1,545 15,403 24,
Cuba 110,861 10,940.2 108.0 9,871.0 16,699.5 1,526.4 4,503.1 1,899 18,778 31,
Dominica 751 65.9 0.7 11,263.2 154.4 2,343.2 40.9 66 1,013
Dominican Republic 48,734 11,532.3 127.8 11,084.3 985.0 85.4 6,950.8 4,295 46,749 21,
El Salvador 21,041 6,368.2 36.7 5,770.7 6,860.9 1,077.4 3,153.6 1,869 20,214 31,
Guatemala 108,889 18,678.8 121.2 6,487.4 1,656.9 88.7 3,559.2 2,588 22,823 38,
Haiti 27,750 11,905.0 33.5 2,818.0 917.6 77.1 493.7 1,488 12,326 5,
Honduras 112,088 11,006.8 38.2 3,468.0 12,661.7 1,150.4 3,454.6 1,834 17,579 29,
Source: Goulden Reports
C. America &Caribb. – Country by Country Profiles - continued
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Jamaica 10,990 2,841.1 21.4 7,536.2 5,291.5 1,862.5 1,074.1 1,072 12,001 16,
Nicaragua 130,000 7,009.5 21.2 3,018.0 4,876.8 695.7 1,645.6 1,147 14,000 22,
Panama 75,517 4,574.7 91.7 20,039.4 14,153.8 3,093.9 4,073.7 1,380 14,187 22,
Puerto Rico 8,897 3,244.1 122.5 37,767.3 21,476.6 6,620.1 6,135.7 2,138 31,133 39,
Saint Lucia 622 180.3 2.6 14,598.5 435.9 2,417.6 93.9 145 1,172
Trinidad & Tobago 5,130 1,517.0 26.5 17,447.5 9,228.5 6,083.6 2,133.9 763 7,001 9,
C America & Carrib. 749,427 96,183 890 9,254.0 112,667 1,171.4 42,343 22,639 239,991 304,
Source: Goulden Reports
9.1.14 North America
Table
North America – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Canada 9,970,610 40,254.8 2,225.3 55,281.4 589,360.6 14,640.8 158,757.0 225,788 146,221 413,
Mexico 1,958,201 131,993.0 1,692.6 12,823.7 367,573.9 2,784.8 119,755.0 128,182 1,002,861 412,
USA 9,363,520 347,363.9 30,507.2 87,824.9 4,343,668.1 12,504.7 1,319,608.9 888,878 5,120,440 4,315,
N America 21,292,331 519,612 34,425 66,251.8 5,300,603 10,201.1 1,598,121 1,242,848 6,269,522 5,141,
Source: Goulden Reports
9.1.15 Australasia
Table
Australasia – Country by Country Profiles
Country Country Area (Sq.Km) Population (Thousands) 2025e GDP (US$
Millions) 2025e GDP per Capita (US$) 2025e Load (GWh) 2024 Average Load (kWh/Capita) 2024 Installed Capacity MW 2024 Transmission cctkm 2024 Distribution cctkm 2024 Low Voltage cctkm
Australia 7,741,220 26,951.4 1,771.7 65,736.1 263,958.5 9,793.9 110,048.0 40,205 291,980 307,
Fiji 18,274 933.6 6.3 6,702.1 1,188.0 1,272.5 376.7 629 3,679 4,
New Caledonia 18,575 295.4 8.7 29,289.3 2,178.9 7,377.1 1,183.0 141 1,138
New Zealand 270,534 5,255.0 248.7 47,319.5 43,995.5 8,372.1 10,837.6 7,152 45,923 48,
Papua New Guinea 462,840 10,762.6 32.8 3,050.9 4,955.0 460.4 1,132.9 3,295 43,625 13,
Australasia 8,511,443 44,198 2,068 46,791.5 316,276 7,155.9 123,578 51,423 386,345 375,
Source: Goulden Reports & Published Statistics
--ooOOoo--
9.2 EXCHANGE RATES
Table
Exchange Rates for Major Currencies against US Dollar 2020-
Currency 2020 2021 2022 2023 2024
Argentinean Peso 12.94 94.77 118.48 251.13 905.54 1,164.
Australian Dollar 1.41 1.32 1.41 1.48 1.51 1.
Brazilian Real 3.80 5.22 5.06 4.77 5.45 5.
British Pound 0.75 0.73 0.79 0.79 0.79 0.
Canadian Dollar 1.41 1.23 1.28 1.32 1.37 1.
Chinese Yuan 6.92 6.40 6.72 7.18 7.26 7.
Czech Koruna 26.04 20.96 23.42 21.68 23.35 21.
Danish Kroner 7.14 6.27 7.05 6.80 6.98 6.
Egyptian Pound 12.96 15.62 18.76 30.90 47.70 50.
Euro 0.96 0.85 0.98 0.91 0.94 0.
Hong Kong Dollar 7.99 7.78 7.85 7.83 7.81 7.
Indian Rupee 69.67 74.62 78.25 81.99 83.57 86.
Indonesian Rupiah 14,242.78 14,530.00 14,832.00 14,945.48 16,478.16 16,395.
Israeli Shekel 4.00 3.29 3.46 3.62 3.76 3.
Japanese Yen 121.07 109.90 138.20 142.10 159.45 146.
Malaysian Ringgit 4.51 4.22 4.40 4.64 4.71 4.
Mexican Peso 19.46 19.89 20.81 17.17 18.21 19.
New Zealand Dollar 1.50 1.43 1.63 1.62 1.63 1.
Nigerian Naiar 264.65 411.00 415.00 706.20 1,508.87 1,547.
Norwegian Kroner 8.94 8.78 9.91 10.70 10.57 10.
Polish Zloty 4.24 3.88 4.44 4.05 4.05 3.
Russian Rouble 69.87 74.15 55.18 83.97 89.74 78.
Saudi Riyal 3.87 3.75 3.75 3.75 3.75 3.
South African Rand 15.10 14.49 16.01 18.39 17.96 18.
South Korean Won 1,212.00 1,142.50 1,291.90 1,292.93 1,389.49 1,373.
Swedish Kroner 9.16 8.62 10.11 10.69 10.52 9.
Swiss Franc 1.03 0.92 0.96 0.90 0.89 0.
Taiwanese Dollar 33.31 27.97 29.75 30.95 32.36 29.
Thai Baht 36.92 32.62 35.44 34.87 36.73 32.
Turkish Lira 6.91 8.63 17.35 23.56 32.84 39.
Average rates January to December
Source: OANDA, GOV.UK and Goulden Reports
9.3 ESTIMATED PRODUCTION BY COMPANY BY COUNTRY
Table
Estimated Production by Company by Country Millions US Dollar
Country Company Power Transformer Distribution Transformers Dry Transformers
Production US$ Million
WESTERN EUROPE
AUSTRIA
BELGIUM
DENMARK
FINLAND
FRANCE
GERMANY
GREECE
IRELAND
ITALY
NETHERLANDS
NORWAY
PORTUGAL
SPAIN
SWEDEN
SWITZERLAND
UNITED KINGDOM
EASTERN EUROPE
BULGARIA
CROATIA
CZECH REPUBLIC
HUNGARY
MACEDONIA, TFYR
POLAND
ROMANIA
SERBIA
SLOVAKIA
SLOVENIA
FORMER USSR
Armenia
Azerbaijan
Belarus
Estonia
Kazakhstan
Russia
Ukraine
Uzbekistan
AFRICA
Egypt
Morocco
Tunisia
Tanzania
South Africa
MIDDLE EAST
Iran
Israel
Lebanon
Oman
Saudi Arabia
Turkey
United Arab Emirates
NEAR EAST
Bangladesh
India
Pakistan
Sri Lanka
FAR EAST
China
Indonesia
Japan
Korea, North
Korea, South
Malaysia
Philippines
Singapore
Taiwan
Thailand
Vietnam
SOUTH AMERICA
Argentina
Brazil
Chile
Colombia
Peru
Venezuela
Uruguay
NORTH AMERICA
Canada
Mexico
USA
AUSTRALASIA
Australia
New Zealand
World
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