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North America Transformer Service Market

North America Transformer Service Market Size, Forecast: By Type: Field Services, Engineering Services, Emergency Response and Remote Monitoring, Decommissioning, Others; By Application: Power Distribution Service, Power Source Equipment Service; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

North America Transformer Service Market Outlook

The North America transformer service market size reached approximately USD 3,263.62 million in 2023. The market is estimated to grow at a CAGR of 6.0% in the forecast period of 2024-2032, reaching a value of around USD 5,461.81 million by 2032.

 

Key Takeaways

  • A significant percentage of the installed transformers across North America has exceeded the end of their useful service life of 25-40 years.
  • The USA is home to around 200,000 ageing power transformers, while it also witnesses the installation of over 2,000 new transformers annually.
  • Canada is a significant producer of transformers, globally.
  • Growing demand for electricity and the scaling up of renewable energy efforts aid the demand for power transformers and related services in North America.

 

Transformers play a vital role in the efficient transmission of electricity for consumers, thereby ensuring the seamless operation of the economy. As a result, consumers across North America are investing in transformer services to ensure continuous power supply. The adoption of services, like predictive maintenance, assists consumers in minimising transformer downtime by monitoring the transformers remotely.

 

Some of the factors driving the North America transformer service market growth are an ageing grid infrastructure, growing demand for electricity, and the adoption of digital maintenance services to reduce transformer downtime.

 

Key Trends and Developments

Expansion of the renewable energy sector and frequent occurrences of power outages drive the North America transformer service market development.

 

Date Company Details
June 2023 RESA Power, LLC RESA Power acquired Taifa Engineering, Ltd., expanding its presence and expertise in Canada's electrical engineering sector, particularly in western Canada.
June 2023 Integrated Power Services IPS, expanded its capabilities through the acquisition of Surplec, a prominent player in managing and remanufacturing surplus medium and high-voltage transformers, headquartered in Sherbrooke, Quebec, Canada.
March 2023 RESA Power, LLC RESA Power acquired Exell Power Services, Ltd (Exell), a British Columbia-based company specializing in professional services for low, medium, and high-voltage electrical installations.
October 2022 Hitachi Energy Hitachi Energy completed an investment of over US$37 million to expand and modernize its power transformer manufacturing facility in South Boston, Virginia.

 

 

Trends Impact
Construction of renewable energy systems The surge in demand for electrical transformers in the USA and Canada is driven by the construction of new renewable energy systems.
Need to replace an ageing infrastructure A large percentage of the installed transformers across the region has exceeded the end of their useful service life of 25-40 years, supporting the need for new installations and the demand for transformer services.
Rising spending on AI-centric systems According to industry reports, global expenditure on AI-focused systems is projected to exceed USD 300 billion by 2026.

 

North America Transformer Service Market Trends

Notably, significant power disruptions in the United States are caused by natural occurrences such as hurricanes, heat waves, and wildfires. As the effects of global warming intensify, the country is projected to witness a rise in power outages, particularly due to its ageing power grid. As a result, stakeholders are expected to invest in the modernisation of the grid providing an opportunity for transformer-related services.

 

North America Transformer Service Market

 

Market Segmentation

North America Transformer Service Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Type Field Services, Engineering Services, Emergency Response and Remote Monitoring, Decommissioning, Others
Application Power Distribution Service, Power Source Equipment Service
Region United States of America, Canada

 

Field services are sub-divided into testing, start up and installation, annual maintenance, acceptance testing, and commissioning whereas engineering services are categorised into short circuit testing, power quality audits, and arc flash studies.

 

In application, power distribution services are divided into field services, field start up and commissioning of new equipment, modernisation, disaster recovery, extended warranty services, safety and risk management, testing, decommissioning, and vibration analysis. While power source equipment service is segmented into power system studies, consulting and advisory services, design engineering, arc flash studies, power quality studies, power factor correction studies and harmonic analysis, and others.

 

Field services are widely adopted to perform routine diagnostics of transformers

Service providers offer schedule field services, incorporating routine diagnostics, preventive maintenance, and scheduled testing such as DGA (dissolved gas analysis) to guarantee the smooth functioning of transformers. Electrical field services encompass a range of preventive actions conducted to avert malfunction or breakdown of electrical systems, ensuring safety and minimising operational disruptions in commercial and industrial environments.

 

According to the transformer service market in North America, comprehensive engineering service providers deliver a wide spectrum of analyses while consistently refining processes to align with regulatory and customer requirements. These offerings encompass transformer analyses, process enhancements, and investigative undertakings, among other domains.

 

According to the North America transformer service market analysis, in the power sector, SCADA systems are now widely used by various companies for on-site and remote monitoring transformers. Service providers take the responsibility of supervising transformer health, environmental conditions, and even underground vault status. The emergency services provided by the service providers comprise tasks such as transformer leak repair, complete replacement of transformer gaskets, spill cleanup and recovery, and fault analysis.

 

As the transformer nears the end of its operational lifespan or if it fails testing and cannot be effectively repaired, the potential for accidents during its continued operation rises. In such instances, adherence to appropriate decommissioning guidelines becomes imperative, particularly concerning the transformer's designed operational lifespan. Service providers often offer customised decommissioning services to meet specific needs. It includes off-site services, on-site services, and transformer oil services.

 

Power source equipment service is expected to hold a significant North America transformer service market share

The power source equipment segment is a crucial contributor to North America transformer service market growth. Power system studies are essential to ensure the transformers are robust and dependable. The services carried out identify the flaws or safety risks and rectify them under all operating conditions.  The advancements in transformer technology are necessitating design engineering services to ensure good quality which further improves its functioning.

 

Power distribution services also contribute to the North America transformer service market development. Power distribution service providers provide a range of services that encompass the entire energy supply journey, spanning from transmission to distribution. Their objective is to reduce both customer resource consumption and tied-up capital within the subsequent stages of the power value chain. Power distribution systems are engaged in dismissing the power into different circuits as per requirements. As the system has multiple operations, there are chances of occurrence of delay due to the interrupted power supply hampering the process. This necessitates the employment of transformer services to ensure the proper functioning of power distribution systems.

 

Competitive Landscape

The range of transformer services offered by market participants can differ in terms of technician expertise, the variety of services provided to clients, and pricing.

 

Company Name Year Founded Headquarters Products/Services
AKF Group LLC 1989 New York, United States Transformer services: Arc flash, short circuit coordination, and commissioning services.
Others: Infrastructure design, instrumentation and building controls, master planning, smart building solutions, and other technology services.
Electrical Power Systems 1987 Youngsville, United States Transformer services: Transformer repair, rebuilds, and coil rewinding, transformer testing.
Others: Transformers, substations, inductors, motor controls, electric controls, etc.
RESA Power, LLC 2003 Houston, Texas Transformer services: Oil testing and analysis, sample guard enclosures, transformer maintenance, transformer retrofill service, and remanufacturing of used transformers, etc.
American Electrical Testing Co., LLC 1981 Massachusetts, United States Transformer services: Regular examinations, evaluations, and upkeeping, bushing renewals, LTC fixes, and oil refinement, etc.

 

Other key players in the North America transformer service market include Taurus Power and Controls, Inc., Potomac Testing, Electrical Reliability Services, Integrated Power Services, and General Electric Company, among others.

 

North America Transformer Service Market Analysis by Region

The United States of America is expected to hold a significant share in the market driven by an ageing transformer infrastructure

According to the North America transformer service market analysis, an ageing transformer infrastructure across the United States creates opportunities for modernisation, repair, and replacement transformer services. Further, climate change drives the need for greater infrastructural investment and the demand for transformers to prevent and reduce power outages, as well as support the USA’s transition to renewable energy.

 

According to the North America transformer service market report, as the development of renewable energy infrastructure is crucial to foster a prospering economy, Canada supports governmental spending on new transmission lines. Consequently, the installation of transmission lines aids the demand for new transformers and the need for transformer services. Further, Canada is a significant manufacturer of transformers globally. The Canadian transformer sector is expanding at a rapid rate and is a significant contributor to the country’s total electrical manufacturing revenue.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • Field Services
  • Engineering Services
  • Emergency Response and Remote Monitoring
  • Decommissioning
  • Others
Breakup by Application
  • Power Distribution Service
  • Power Source Equipment Service
Breakup by Region
  • United States of America 
  • Canada
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • AKF Group LLC 
  • Electrical Power Systems 
  • RESA Power, LLC 
  • American Electrical Testing Co., LLC 
  • Taurus Power and Controls, Inc. 
  • Potomac Testing 
  • Electrical Reliability Services   
  • Integrated Power Services 
  • General Electric Company 
  • Others

 

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North America Transformer Service Market Report Snapshots

North America Transformer Service Market Size

North America Transformer Service Market Trends

North America Transformer Service Market Regional Analysis

North America Transformer Service Companies

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    North America Transformer Service Market Overview

    8.1    Key Industry Highlights
    8.2    North America Transformer Service Historical Market (2018-2023) 
    8.3    North America Transformer Service Market Forecast (2024-2032)
9    North America Transformer Service Market by Type
    9.1    Field Services
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032) 
        9.1.3    Breakup by Type 
            9.1.3.1    Testing 
            9.1.3.2    Start Up and Installation 
            9.1.3.3    Annual Maintenance
            9.1.3.4    Acceptance Testing  
            9.1.3.5    Commissioning
    9.2    Engineering Services
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032) 
        9.2.3    Breakup by Type 
            9.2.3.1    Short Circuit Testing 
            9.2.3.2    Power Quality Audits 
            9.2.3.3    Arc Flash Studies
    9.3    Emergency Response and Remote Monitoring
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    Decommissioning
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
    9.5    Others
10    North America Transformer Service Market by Application
    10.1    Power Distribution Service
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032) 
        10.1.3    Breakup by Type 
            10.1.3.1    Field Services 
            10.1.3.2    Field Start Up and Commissioning of New Equipment 
            10.1.3.3    Modernisation 
            10.1.3.4    Disaster Recovery 
            10.1.3.5    Extended Warranty Services 
            10.1.3.6    Safety and Risk Management 
            10.1.3.7    Testing 
            10.1.3.8    Decommissioning 
            10.1.3.9    Vibration Analysis
    10.2    Power Source Equipment Service
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032) 
        10.2.3    Breakup by Type 
            10.2.3.1    Power System Studies 
            10.2.3.2    Consulting and Advisory Services 
            10.2.3.3    Design Engineering 
            10.2.3.4    Arc Flash Studies 
            10.2.3.5    Power Quality Studies 
            10.2.3.6    Power Factor Correction Studies and Harmonic Analysis 
            10.2.3.7    Others
11    North America Transformer Service Market by Country
    11.1    United States of America
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032) 
        11.1.3    Breakup by Region
            11.1.3.1    New England  
            11.1.3.2    Mideast  
            11.1.3.3    Great Lakes   
            11.1.3.4    Plains  
            11.1.3.5    Southeast  
            11.1.3.6    Southwest  
            11.1.3.7    Rocky Mountain  
            11.1.3.8    Far West  
    11.2    Canada
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
        11.2.3    Breakup by Region 
            11.2.3.1    Northern Canada  
            11.2.3.2    British Columbia  
            11.2.3.3    Alberta   
            11.2.3.4    The Prairies  
            11.2.3.5    Central Canada  
            11.2.3.6    Atlantic Canada   
12    Market Dynamics
    12.1    SWOT Analysis
        12.1.1    Strengths
        12.1.2    Weaknesses
        12.1.3    Opportunities
        12.1.4    Threats
    12.2    Porter’s Five Forces Analysis
        12.2.1    Supplier’s Power
        12.2.2    Buyer’s Power
        12.2.3    Threat of New Entrants
        12.2.4    Degree of Rivalry
        12.2.5    Threat of Substitutes
    12.3    Key Indicators of Demand
    12.4    Key Indicators of Price
13    North America Transformer Testing and Maintenance Standards
14    Competitive Landscape

    14.1    Market Structure
    14.2    Company Profiles
        14.2.1    AKF Group LLC
            14.2.1.1    Company Overview
            14.2.1.2    Product Portfolio
            14.2.1.3    Demographic Reach and Achievements
            14.2.1.4    Certifications
        14.2.2    Electrical Power Systems
            14.2.2.1    Company Overview
            14.2.2.2    Product Portfolio
            14.2.2.3    Demographic Reach and Achievements
            14.2.2.4    Certifications
        14.2.3    RESA Power, LLC
            14.2.3.1    Company Overview
            14.2.3.2    Product Portfolio
            14.2.3.3    Demographic Reach and Achievements
            14.2.3.4    Certifications
        14.2.4    American Electrical Testing Co., LLC
            14.2.4.1    Company Overview
            14.2.4.2    Product Portfolio
            14.2.4.3    Demographic Reach and Achievements
            14.2.4.4    Certifications
        14.2.5    Taurus Power and Controls, Inc.
            14.2.5.1    Company Overview
            14.2.5.2    Product Portfolio
            14.2.5.3    Demographic Reach and Achievements
            14.2.5.4    Certifications
        14.2.6    Potomac Testing
            14.2.6.1    Company Overview
            14.2.6.2    Product Portfolio
            14.2.6.3    Demographic Reach and Achievements
            14.2.6.4    Certifications
        14.2.7    Electrical Reliability Services  
            14.2.7.1    Company Overview
            14.2.7.2    Product Portfolio
            14.2.7.3    Demographic Reach and Achievements
            14.2.7.4    Certifications
        14.2.8    Integrated Power Services
            14.2.8.1    Company Overview
            14.2.8.2    Product Portfolio
            14.2.8.3    Demographic Reach and Achievements
            14.2.8.4    Certifications
        14.2.9    General Electric Company
            14.2.9.1    Company Overview
            14.2.9.2    Product Portfolio
            14.2.9.3    Demographic Reach and Achievements
            14.2.9.4    Certifications
        14.2.10    Others
15    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    North America Transformer Service Market: Key Industry Highlights, 2018 and 2032
2.    North America Transformer Service Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    North America Transformer Service Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    North America Transformer Service Historical Market: Breakup by Application (USD Billion), 2018-2023
5.    North America Transformer Service Market Forecast: Breakup by Application (USD Billion), 2024-2032
6.    North America Transformer Service Historical Market: Breakup by Country (USD Billion), 2018-2023
7.    North America Transformer Service Market Forecast: Breakup by Country (USD Billion), 2024-2032
8.    North America Transformer Service Market Structure

Key Questions Answered in the Report

In 2023, the market attained a value of nearly 3,263.62 million.

The North America transformer service market is assessed to grow at a CAGR of 6.0% between 2024 and 2032.

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach about USD 5,461.81 million by 2032.

Operation of power transformers involves processes such as external inspection, measurement of oil temperature and load, phasing, corrective and preventive maintenance, and overhauls, among others.

Transformers need routine maintenance to ensure they run smoothly and operate safely.

The major market drivers are the growing demand for power supply and increased investment in power infrastructure.

The key trends of the North America transformer service market include the growing deployment of energy-efficient transformers, a rise in the demand for maintenance, repair, and replacement services for old transformers, increased investments in smart transformers, and favourable government policies for the refurbishment and modernisation of old grid infrastructure.

The major regions in the market are the United States of America and Canada.

Various applications are power distribution service and power source equipment service.

The key players in the market are AKF Group LLC, Electrical Power Systems, RESA Power, LLC, American Electrical Testing Co., LLC, Taurus Power and Controls, Inc., Potomac Testing, Electrical Reliability Services, Integrated Power Services, and General Electric Company, among others.

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