Report Overview

Middle East and Africa Transformer Market – Industry Trends & Forecast Report, 2029

Middle East and Africa Transformer Market size was estimated at USD 2.38 billion in 2022. During the forecast period between 2023 and 2029, the size of Middle East and Africa Transformer Market is projected to grow at a CAGR of 5.71% reaching a value of USD 3.32 billion by 2029. Middle East and Africa transformer market is driven by a surge in energy demand, rapid industrialization and urbanization, and increasing investments in the power sector. Infrastructure development, grid expansion, and the need for reliable electricity supply are propelling the market. Also, government initiatives for renewable energy projects and the integration of smart grid technologies contribute to the market's growth. The rising focus on enhancing energy efficiency and the replacement of aging transformers further drives the demand for transformers.

Transformer – Overview

A transformer in the power and energy industry is a crucial device that efficiently transfers electrical energy between circuits through electromagnetic induction. Consisting of primary and secondary coils wound around a shared core, transformers alter voltage levels, facilitating power transmission over long distances and voltage conversion for diverse applications. They play a pivotal role in electrical grids, enhancing energy efficiency and minimizing power losses. The transformer's ability to regulate voltage ensures a stable and reliable electricity supply, contributing significantly to the functioning of modern power systems. Its versatile applications range from stepping up voltage for long-distance transmission to stepping down for safe utilization in homes and industries.

Middle East and Africa Transformer Market

Growth Drivers

High Demand for Electricity

Middle East and Africa Transformer Market witnesses robust growth due to rising electricity demand. The increasing need for electricity across these regions, driven by population growth, industrial expansion, and infrastructure development, propels the demand for transformers. Transformers play a pivotal role in efficient power distribution and transmission, meeting the escalating energy requirements. As governments focus on electrification initiatives and renewable energy projects, the transformer market is poised for significant expansion, providing essential infrastructure to support the surging electricity demand in Middle East and Africa.

Restraints

Economic and Political Uncertainties

Persistent economic and political uncertainties across the region pose a formidable restraint for the growth of Middle East and Africa Transformer Market. Fluctuating government policies, regional conflicts, and economic instability create a challenging business environment. Investors and stakeholders face heightened risks due to unpredictable geopolitical developments, currency fluctuations, and regulatory changes. Uncertainties hamper long-term strategic planning and investments, impacting the growth and stability of the transformer market in the region. Navigating through these complex dynamics becomes crucial for industry players, requiring adaptive strategies to mitigate risks and capitalize on opportunities amid the intricate economic and political landscape.

Middle East and Africa Transformer Market

Segmental Coverage

Middle East and Africa Transformer Market – By Power Rating

Based on power rating, Middle East and Africa Transformer Market is divided into large, medium-sized, and small segments. The medium-sized transformers segment is the largest in the Middle East and Africa Transformer Market. The segment dominates the market due to increased demand for power infrastructure in growing economies. Medium transformers cater to diverse applications, such as industrial, commercial, and utility sectors, contributing significantly to the region's energy distribution and transmission needs. The robust growth in urbanization and industrialization, coupled with the emphasis on reliable power supply, fuels the demand for medium-sized transformers, making it the leading segment in the Middle East and Africa Transformer Market.

Middle East and Africa Transformer Market – By Cooling Type

Based on cooling type, Middle East and Africa Transformer Market is splits into Air-Cooled and Oil-Cooled segments. The oil-cooled segment holds a higher market share, reflecting the significant preference for oil-filled transformers in the region. The demand for oil-cooled transformers is driven by their efficiency, reliability, and suitability for diverse applications in power distribution and transmission. As the energy infrastructure in the Middle East and Africa continues to expand, the oil-cooled transformer segment remains a key contributor to the overall market, meeting the region's growing electricity needs and ensuring a robust and stable power supply.

Middle East and Africa Transformer Market – By Transformer Type

Based on transformer type, Middle East and Africa Transformer Market is bifurcated into Power Transformer and Distribution Transformer segments. The power transformer segment is a larger contributor to the growth of Middle East and Africa Transformer Market. The segment encompasses transformers designed for high-voltage applications, often involved in transmitting electrical power over long distances. The power transformer segment plays a crucial role in supporting robust and efficient power distribution networks across the Middle East and Africa, contributing significantly to the region's electrical infrastructure development and energy transmission capabilities.

Middle East and Africa Transformer Market – By Country

The in-depth research report on the Middle East and Africa Transformer Market covers the market in the region’s major countries including Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, and Rest of MEA. Saudi Arabia is the leading country in the Middle East and Africa Transformer Market. The kingdom's robust industrial and infrastructure sectors, coupled with its growing energy sector, contribute to the leading position of Saudi Arabia in the Middle East and Africa Transformer Market.

Competitive Landscape

Major players in the Middle East and Africa Transformer Market include ABB Ltd, Siemens AG, General Electric Company, Global Transformers & Switchgears FZCO, alfanar Group, Toshiba Corporation, Schneider Electric SE, Hyundai Electric & Energy System Co., Ltd, Hyosung Heavy Industries Corporation, Bharat Heavy Electricals Limited, Mitsubishi Electric Corporation, and Hitachi Energy Ltd. To enhance their market share and expand their reach, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

• In April 2022 - Hitachi ABB Power Grids was awarded a contract to construct an electricity interconnection by the Egyptian Electricity Transmission Company and the Saudi Electricity Company. The interconnection will facilitate Saudi Arabia and Egypt to exchange up to 3,000 MW of power. It is the first large-scale high-voltage direct current interconnection link project in the Middle East and North Africa. The project will cover the distance of a 1,350-km route using overhead power lines and a subsea cable across the Red Sea.

• In March 2022 - The Transmission Company of Nigeria received a delivery of about 15 new power transformers. The company is expected to install these transformers across the country, which will boost transmission capacity by about 1,487 MW. The World Bank funded the contract for transformers. The transformers comprise ten 60MVA 132/33kV and five 150MVA 330/132kV.

Scope of the Report

By Power Rating

• Large  

• Medium-sized  

• Small

By Cooling Type

• Air-Cooled  

• Oil-Cooled

By Transformer Type

• Power Transformer  

• Distribution Transformer

By Country

• Saudi Arabia

• UAE

• Qatar

• Kuwait

• South Africa

• Nigeria

• Algeria

• Rest of MEA

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3.  Middle East and Africa Transformer Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Infrastructure development
         2. Rising electricity demand
      2. Restraints
         1. Economic and political uncertainty
         2. Aging infrastructure
      3. Opportunities
         1. Smart grid integration
         2. Rural electrification
      4. Challenges
         1. Technical challenges
         2. Competition
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4.  Middle East and Africa Transformer Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share and Forecast
      1. By Power Rating
         1. Large
         2. Medium-sized
         3. Small
      2. By Cooling Type
         1. Air-Cooled
         2. Oil-Cooled
      3. By Transformer Type
         1. Power Transformer
         2. Distribution Transformer
      4. By Country
         1. Saudi Arabia
         2. UAE
         3. Qatar
         4. Kuwait
         5. South Africa
         6. Nigeria
         7. Algeria
         8. Rest of MEA
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Middle East and Africa Transformer Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Escalating Geopolitical Tensions on Middle East and Africa Transformer Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. ABB Ltd
   2. Siemens AG
   3. General Electric Company
   4. Global Transformers & Switchgears FZCO
   5. alfanar Group
   6. Toshiba Corporation
   7. Schneider Electric SE
   8. Hyundai Electric & Energy System Co., Ltd.
   9. Hyosung Heavy Industries Corporation
   10. Bharat Heavy Electricals Limited
   11. Mitsubishi Electric Corporation
   12. Hitachi Energy Ltd
   13. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.  Qualitative Research
      1.  Primary & Secondary Research
   2.  Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Region
   5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Middle East and Africa Transformer Segmentation

Figure 2       Middle East and Africa Transformer Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Middle East and Africa Transformer Market Size, By Value (USD Billion), 2019–2029

Figure 5       Middle East and Africa Transformer Market Share, By Power Rating, By Value, 2019–2029

Figure 6       Middle East and Africa Transformer Market Share, By Cooling Type, By Value, 2019–2029

Figure 7       Middle East and Africa Transformer Market Share, By Transformer Type, By Value, 2019–2029

Figure 8       Middle East and Africa Transformer Market Share, By Country, By Value, 2019–2029

List of Tables

Table 1    Middle East and Africa Transformer Market Size, By Value (USD Billion), 2019–2029

Table 2    Middle East and Africa Transformer Market Share, By Power Rating, By Value, 2019–2029

Table 3    Middle East and Africa Transformer Market Share, By Cooling Type, By Value, 2019–2029

Table 4    Middle East and Africa Transformer Market Share, By Transformer Type, By Value, 2019–2029

Table 5   Middle East and Africa Transformer Market Share, By Country, By Value, 2019–2029

Table 6        ABB Ltd Company Overview

Table 7        ABB Ltd Financial Overview

Table 8        Siemens AG Company Overview

Table 9        Siemens AG Financial Overview

Table 10      General Electric Company Company Overview

Table 11      General Electric Company Financial Overview

Table 12      Global Transformers & Switchgears FZCO Company Overview

Table 13      Global Transformers & Switchgears FZCO Financial Overview

Table 14      alfanar Group Company Overview

Table 15      alfanar Group Financial Overview

Table 16      Toshiba Corporation Company Overview

Table 17      Toshiba Corporation Financial Overview

Table 18      Schneider Electric SE Company Overview

Table 19      Schneider Electric SE Financial Overview

Table 20      Hyundai Electric & Energy System Co., Ltd. Company Overview

Table 21      Hyundai Electric & Energy System Co., Ltd. Financial Overview

Table 22      Hyosung Heavy Industries Corporation Company Overview

Table 23      Hyosung Heavy Industries Corporation Financial Overview

Table 24      Bharat Heavy Electricals Limited Company Overview

Table 25      Bharat Heavy Electricals Limited Financial Overview

Table 26      Mitsubishi Electric Corporation Company Overview

Table 27      Mitsubishi Electric Corporation Financial Overview

Table 28      Hitachi Energy Ltd Company Overview

Table 29      Hitachi Energy Ltd Financial Overview