North America Cast Resin Transformer Market Size, Growth and Outlook 2034
North America Cast Resin Transformer Market Size- By Winding, By Rating, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Sep-2025 | Report ID: POAE25167 | Pages: 1 - 225 | Formats*: |
| Category : Power & Energy | |||
North America Cast Resin Transformer Market Introduction and Overview
According to SPER Market Research, the North America Cast Resin Transformer Market is estimated to reach USD 1730 million by 2034 with a CAGR of 10.25%.
The report includes an in-depth analysis of the North America Cast Resin Transformer Market, including market size and trends, product mix, Applications, and supplier analysis. The North America cast resin transformer market was valued at approximately USD 652 million in 2024 and is projected to grow at a compound annual growth rate (CAGR) of around 10.25% from 2025 to 2034. This growth is primarily driven by increased focus on renewable energy sources such as wind and solar power, alongside the demand for reliable power distribution in challenging environmental conditions. Cast resin transformers are favored for their superior energy efficiency, which aligns with the region's emphasis on sustainability and energy conservation. Technological advancements—including improved insulation materials, optimized winding designs, and digital monitoring systems—are further enhancing the performance of these transformers, supporting market expansion.
Winding Technology Insights:
Two-winding transformers currently dominate the market share within the cast resin transformer segment. This is largely due to the growing implementation of smart grid technologies like smart meters, grid automation, and distributed energy resources. Additionally, the steady growth of industrial and commercial sectors—such as manufacturing, construction, and data centers—continues to drive demand, bolstering the market outlook.
Rating Insights:
Transformers with ratings above 5 MVA are expected to experience notable growth through 2034. This trend is propelled by increased demand for low-voltage power distribution across commercial, utility, and industrial applications. Their appeal lies in enhanced resistance to environmental stresses, improved thermal efficiency, and reduced maintenance requirements, all of which contribute to greater grid stability and reliability.
Application Insights:
Indoor and underground substations have seen significant uptake, driven by heightened energy efficiency concerns and the push to integrate a variety of frequency distribution networks. The rapid expansion of commercial infrastructure and urban migration are also key factors supporting this growth. Furthermore, limited space and the need for safe operation in enclosed environments, coupled with shifting power consumption patterns in residential and corporate settings, are encouraging broader use of these substations.
Regional Overview:
The U.S. market for cast resin transformers is expected to grow significantly, supported by increasingly stringent regulatory frameworks and a growing commitment to corporate sustainability. Continued research into sustainable technologies is playing a crucial role in market development. For instance, safety protocols established by organizations such as the IEEE help protect personnel during the installation, operation, and maintenance of electrical and communication systems, further supporting market confidence.
Competitive Landscape:
The North American cast resin transformer market is moderately fragmented, featuring several key players including ABB, Bharat Heavy Electricals Limited, Daelim Transformers, Eaton Corporation, Fuji Electric Co., Ltd, General Electric, Hammond Power Solutions, Hitachi Energy Ltd., Jiangshan Scotech Electrical Co., Ltd., Jiangsu Ryan Electric Co., Ltd., Schneider Electric, Siemens Energy, SGB SMIT, and TMC Transformers S.P.A.
Recent Developments:
- In January 2022, General Electric launched a new series of power transformers, such as the GE-Mistral-14 and 340 MVA units, designed to support renewable energy projects. These transformers have been deployed in various windfarm projects globally and are used in power generation, transmission, and distribution applications.
- In February 2022, TMC Transformers completed the acquisition of Intermagnetics srl, previously part of Hitachi Energy. Specializing in reactors and low-voltage transformers for industrial applications, this acquisition broadens TMC’s portfolio and enhances its product offerings, benefiting both the company and its customers.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Winding, By Rating, By Application |
| Regions covered | Canada, Mexico, United States |
| Companies Covered | ABB, Bharat Heavy Electricals Limited, Daelim Transformers, , Fuji Electric Co., Ltd, GE, Hammond Power Solutions, Hitachi Energy Ltd., Jiangshan Scotech Electrical Co., Ltd., Jiangsu Ryan Electric Co., Ltd., Schneider Electric, Siemens Energy, SGB SMIT, TMC Transformers S.P.A. |
Key Topics Covered in the Report
- North America Cast Resin Transformer Market Size (FY’2021-FY’2034)
- Overview of North America Cast Resin Transformer Market
- Segmentation of North America Cast Resin Transformer Market By Winding (Two winding, Auto transformer)
- Segmentation of North America Cast Resin Transformer Market By Rating (≤ 5 MVA, > 5 MVA to ≤ 30 MVA, > 30 MVA)
- Segmentation of North America Cast Resin Transformer Market By Application (Industries, Inner-City Substations, Indoor/Underground Substations, Renewable Generation, Others)
- Statistical Snap of North America Cast Resin Transformer Market
- Expansion Analysis of North America Cast Resin Transformer Market
- Problems and Obstacles in North America Cast Resin Transformer Market
- Competitive Landscape in the North America Cast Resin Transformer Market
- Details on Current Investment in North America Cast Resin Transformer Market
- Competitive Analysis of North America Cast Resin Transformer Market
- Prominent Players in the North America Cast Resin Transformer Market
- SWOT Analysis of North America Cast Resin Transformer Market
- North America Cast Resin Transformer Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. North America Cast Resin Transformer Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Cast Resin Transformer Market
7. North America Cast Resin Transformer Market, By Winding (USD Million) 2021-2034
- 7.1. Two winding
- 7.2. Auto transformer
8. North America Cast Resin Transformer Market, By Rating (USD Million) 2021-2034
- 8.1. ≤ 5 MVA
- 8.2. > 5 MVA to ≤ 30 MVA
- 8.3. > 30 MVA
9. North America Cast Resin Transformer Market, By Application (USD Million) 2021-2034
- 9.1. Industries
- 9.2. Inner-City Substations
- 9.3. Indoor/Underground Substations
- 9.4. Renewable Generation
- 9.5. Others
10. North America Cast Resin Transformer Market, (USD Million) 2021-2034
- 10.1. North America Cast Resin Transformer Market Size and Market Share
11. North America Cast Resin Transformer Market, By Region, (USD Million) 2021-2034
- 11.1. Canada
- 11.2. Mexico
- 11.3. United States
12. Company Profile
- 12.1. ABB
- 12.1.1. Company details
- 12.1.2. Financial outlook
- 12.1.3. Product summary
- 12.1.4. Recent developments
- 12.2. Bharat Heavy Electricals Limited
- 12.2.1. Company details
- 12.2.2. Financial outlook
- 12.2.3. Product summary
- 12.2.4. Recent developments
- 12.3. Daelim Transformers
- 12.3.1. Company details
- 12.3.2. Financial outlook
- 12.3.3. Product summary
- 12.3.4. Recent developments
- 12.4. Eaton Corporation
- 12.4.1. Company details
- 12.4.2. Financial outlook
- 12.4.3. Product summary
- 12.4.4. Recent developments
- 12.5. Fuji Electric Co., Ltd
- 12.5.1. Company details
- 12.5.2. Financial outlook
- 12.5.3. Product summary
- 12.5.4. Recent developments
- 12.6. GE
- 12.6.1. Company details
- 12.6.2. Financial outlook
- 12.6.3. Product summary
- 12.6.4. Recent developments
- 12.7. Hammond Power Solutions
- 12.7.1. Company details
- 12.7.2. Financial outlook
- 12.7.3. Product summary
- 12.7.4. Recent developments
- 12.8. Hitachi Energy Ltd.
- 12.8.1. Company details
- 12.8.2. Financial outlook
- 12.8.3. Product summary
- 12.8.4. Recent developments
- 12.9. Jiangshan Scotech Electrical Co., Ltd.
- 12.9.1. Company details
- 12.9.2. Financial outlook
- 12.9.3. Product summary
- 12.9.4. Recent developments
- 12.10. Jiangsu Ryan Electric Co., Ltd.
- 12.10.1. Company details
- 12.10.2. Financial outlook
- 12.10.3. Product summary
- 12.10.4. Recent developments
- 12.11. Schneider Electric
- 12.11.1. Company details
- 12.11.2. Financial outlook
- 12.11.3. Product summary
- 12.11.4. Recent developments
- 12.12. Siemens Energy
- 12.12.1. Company details
- 12.12.2. Financial outlook
- 12.12.3. Product summary
- 12.12.4. Recent developments
- 12.13. SGB SMIT
- 12.13.1. Company details
- 12.13.2. Financial outlook
- 12.13.3. Product summary
- 12.13.4. Recent developments
- 12.14. TMC Transformers S.P.A
- 12.14.1. Company details
- 12.14.2. Financial outlook
- 12.14.3. Product summary
- 12.14.4. Recent developments
- 12.15. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Cast Resin Transformer Market is projected to reach USD 1730 million by 2034, growing at a CAGR of 10.25% during the forecast period.
North America Cast Resin Transformer Market grew in Market size from 2025. The Market is expected to reach USD 1730 million by 2034, at a CAGR of 10.25% during the forecast period.
North America Cast Resin Transformer Market CAGR of 10.25% during the forecast period.
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North America Cast Resin Transformer Market size is USD 1730 million from 2025 to 2034.
North America Cast Resin Transformer Market is covered By Winding, By Rating, By Application
U.S. is anticipated to have the highest Market share in the North America Cast Resin Transformer Market.
ABB, Bharat Heavy Electricals Limited, Daelim Transformers, , Fuji Electric Co., Ltd, GE, Hammond Power Solutions, Hitachi Energy Ltd., Jiangshan Scotech Electrical Co., Ltd., Jiangsu Ryan Electric Co., Ltd., Schneider Electric, Siemens Energy, SGB SMIT, TMC Transformers S.P.A.
The report includes an in-depth analysis of the North America Cast Resin Transformer Market, including market size and trends, product mix, Applications, and supplier analysis
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