Global Grid Modernization and Electrification Drive Transformers Market Growth Through 2035
The U.S. electric grid is undergoing significant modernization efforts, which are contributing to a robust growth forecast for the global transformers market from 2026 to 2035. This modernization is deemed essential to support increasing demands from artificial intelligence (AI) workloads, electric vehicle (EV) chargers, and to maintain the nation's leadership in innovation. The Department of Energy and the National Renewable Energy Laboratory have identified AI as a crucial enabler for grid modernization. The global transformers market is projected to experience substantial growth, driven by these grid upgrades and the integration of renewable energy sources. Investments in electrical grid infrastructure are considered non-negotiable as economies recover and focus shifts to modernizing aging grids in developed regions and expanding capacity in emerging markets. The energy transition, marked by the rapid deployment of solar and wind energy, necessitates significant transformer installations for voltage ste...