According to the research report titled ‘North America Oil Filled Transformer Market Size By Core (Closed, Shell, Berry), By Product (Distribution Transformer, Power Transformer, Instrument Transformer), By Winding (Two Winding, Auto Transformer), By Installation (Outdoor, Indoor), By Modes of Cooling (Oil Natural Air Natural (ONAN), Oil Natural Water Forced (ONWF), Oil Natural Air Forced(ONAF)), By Phase (Three, Single), By Mounting (Pad, Pole, Foundation), By Rating (< 5 MVA, 5 MVA to 10 MVA, > 10 MVA), By Substation Connectivity (Distribution, Transmission), By Application (Residential & Commercial, Utility, Industrial), Industry Analysis Report, Country Outlook, Covid-19 Impact Analysis, Application Potential, Competitive Market Size & Forecast, 2021 – 2027’, available with Market Study Report LLC, North America oil filled transformer market is expected to register substantial growth through 2027.
 

High emphasis on enhancing the energy efficiency and modernizing existing grid networks are some of the key factors driving the growth of North America oil filled transformer market. Growing dependency on renewable sources of energy for power generation is also adding traction to the overall market size.

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Based on product type, the report cites that the power transformer segment is expected to generate considerable returns for the market participants in the ensuing years. Growing demand for reliable power supply has augmented the adoption of efficient transmission systems, thereby contributing towards the popularity of power transformers across the globe.

By mode of cooling, the oil natural water forced segment amassed revenues wroth USD 600 million in 2020 and is predicted to expand consistently during the study period, owing to its high thermal conduction and cost efficiency.

In terms of mounting type, the report claims that North America oil filled transformer industry share from the foundation segment is calculated to increase significantly by the year 2027, primarily driven by mounting infrastructure investments and expanding distribution networks.

Moving on to rating type, the 5 MVA to 10 MVA segment is expected to generate revenues worth 1.6 billion by the year 2027. On the other hand, the >10 MVA segment is also estimated to account for a major market share by the end of the forecast period, primarily due to growing demand for energy efficient and compact transformers.

By substation connectivity, the transmission segment is reckoned to witness a 3% CAGR during 2021-2027, owing to its high cost efficiency and easy availability of renewable energy sources such as wind and hydro power.

Considering the application range, North America oil filled transformer industry size from the utility segment is likely to gain significant traction in the subsequent years. Rising R&D expenditure and favorable regulatory outlook towards expansion of grid networks are fueling the overall market size.

The competitive landscape of North America oil filled transformer industry is defined by companies such as DOS Canada Inc., L/C Magnetics Inc., Northern Transformer Corp., Atlas Transformer Ltd., Eaton Corp., Schneider Electric SE, Hyosung Heavy industries, ERMCO Inc., Toshiba Corp., SPX Transformer Solutions Inc., Siemens AG, WEG, General Electric Co., and Hitachi ABB Power Grids among others.