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Companies in this industry manufacture power, distribution, and specialty transformers. Major companies include ABB (Switzerland), General Electric (US), Jiangsu Huapeng Transformer (China), Mitsubishi Electric (Japan), Siemens (Germany), and Schneider Electric (France).
The global power transformer market is expected to experience annual growth of nearly 6% and to exceed $34 billion by 2022, according to Global Market Insights, which valued the market at about $21 billion as of 2014. Leading countries for transformer manufacture include China, France, Germany, Japan, and the US. The Asia/Pacific region is expected to be the largest source of demand through 2022.
The US transformer manufacturing industry includes about 230 companies with combined annual revenue of about $5 billion.
Demand is driven by construction spending and industrial production. The profitability of individual companies depends on efficient manufacturing and economies of scale in purchasing. Large companies compete by offering a variety of transformer products to utilities and industrial customers. Small companies can compete by offering innovative, niche products to industrial and consumer product customers. The US industry is highly concentrated: the 50 largest companies account for nearly 90 percent of industry revenue.
Imports, primarily from Mexico, Canada, and China, account for 35% of the US market. About 15% of US production is exported, chiefly to Canada and Mexico.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include power and distribution transformers used in electricity transmission and distribution grids. Other products include ballasts for lamps and fluorescent ...
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