The article is authored by Saqib Saeed, CPO & Azhar Fayyaz, Analyst at PTR Inc. The article explains that the global power transformer market is set for significant growth due to the increasing demand for renewable energy and grid modernization. As nations work towards net-zero targets and clean energy solutions, the need for power transformers is rising sharply. Renewables are expected to supply half of the global electricity by 2030, driving the demand for grid upgrades. However, rising material costs, supply chain disruptions, and manufacturer profit margins are pushing transformer prices up by up to 150% since 2020.

Asia-Pacific (APAC) is a key driver of this growth, with China and India contributing significantly to the market. China aims to add nearly 2,890 GW of solar and wind capacity by 2030, while India plans to add 500 GW of renewable capacity, which will require extensive power grid infrastructure and transformer support. China’s investment of USD 442 billion in grid development further boosts transformer demand. Additionally, Indonesia and Vietnam are making strides in their renewable energy programs and industrial growth, increasing the need for power transformers. Despite challenges, the APAC region’s ambitious clean energy goals and infrastructure development are set to continue driving global power transformer market expansion through 2030.

Follow this link to learn more: Rising Demand, Rising Costs: How APAC’s Grid Evolution is Shaping the Power Transformer Market  

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