Global Top 10 Transformer Manufacturers [2023]

Published on 21st March 2023

A transformer is an electrical instrument made of two or more inductors and is used to transfer energy from one source to another, either increasing or reducing the voltage.


Transformers are essential to the energy landscape—from helping grid operators respond flexibly to power fluctuations to playing a crucial role in achieving a successful energy transition.


Transformers are used for power, industrial, transportation and several other applications, ranging from alternating current regulation to large-capacity transmission and distribution.


Continue reading for an in-depth look at the global top 10 transformer manufacturers.


Table of Contents

Types of Transformers

Global Top 10 Transformer Manufacturers

EFACEC Power Solutions SGPS, S.A. (Efacec)                                                                                              

Fuji Electric Co., Ltd.

General Electric Company

Hitachi Energy

Hyosung Heavy Industries Co., Ltd.

Hyundai Electric & Energy Systems Co., Ltd.

JSHP Transformer Co., Ltd.

Siemens Energy AG

TBEA Co., Ltd.

Toshiba Energy Systems & Solutions Corporation

Blackridge Research & Consulting – Global Transformer Market Report

Wrapping Up


Types of Transformers


An electric transformer or electrical transformer is a static electrical machine that transforms electric power from one circuit to another based on the basic principles of electromagnetic induction and mutual induction.


Let us take a brief look at the wide range of power transformers available in the market:


Transformers based on Core Material

  • Air core transformer
  • Ferrite core transformer
  • Iron core transformer
  • Toroidal core transformer or toroidal transformer (including an encapsulated transformer)


Transformers based on Phases

  • Auto transformer
  • Single-phase transformer
  • Three-phase transformer


Transformers based on Place of Usage

  • Dry-type transformer (indoor)
  • Oil-filled transformer (including a furnace transformer (outdoor))


Transformers based on Turns Ratio

  • Isolation transformer (including a control transformer)
  • Step-up transformer
  • Step-down transformer


Other types of transformers include current transformer (a type of instrument transformer) and distribution transformer.


Global Top 10 Transformer Manufacturers


Here are the world’s leading transformer manufacturers (listed alphabetically):


EFACEC Power Solutions SGPS, S.A. (Efacec)

Founded: 1948

Location: Leça do Balio, Matosinhos, Portugal


Starting with operations in the electric field (electric accessories, generators, motors, and transformers), Efacec has grown into a well-known Portuguese company with an international presence in over 65 countries and a strong exporter profile.


In 2020, the company launched an innovative modular system concept, which received the Red Dot Award in 2021 for outstanding industrial design.


Efacec provides the following:


Power transformers

  • Core
  • Core modular system
  • Shell
  • Sustainable green eco-efficient power transformers (ester filled)


Mobile solutions (includes conventional or hybrid insulation power transformers)


Efacec’s mobile solutions quickly replace a power transformer/substation for applications, such as construction and maintenance works, temporary power supply, and emergency operations (fire, flood, outage, etc.).


Distribution transformers

  • Cast resin dry type
  • Oil immersed
  • Sustainable green eco-efficient distribution transformers (ester filled)


Fuji Electric Co., Ltd.

Founded: 1923

Location: Shinagawa City, Tokyo, Japan


Fuji Electric Co., Ltd. was established as a capital and technology alliance between “Furukawa Electric Co., Ltd.” (Japanese) and “Siemens AG” (German) and operates under the brand name “FE.”


Apart from its core technologies of power semiconductors and power electronics solutions, Fuji Electric also offers automation, energy-saving, power stabilization, and renewable energy solutions.


The company provides various low-voltage (LV), medium-voltage (MV), and extra-high-voltage (HV) products for electrical substations. It has an impressive track record of supplying special transformers, such as distribution transformer (DTR), power transformer (PTR), and generator step-up transformer (GSU).


The company’s Transmission and Distribution (T&D) products and solutions include:

  • Cast resin transformer
  • DC high-speed vacuum circuit breaker
  • Gas-insulated switchgear (GIS)
  • MV & LV switchgear and control center
  • Oil-immersed transformer, shunt reactor
  • Pure water vaporization cooling silicon rectifier


Fuji Electric’s products are known for high quality and reliability and support high capacity and high voltage for a variety of applications, including high-rise buildings, railways, and wind turbines.


In addition, the company’s cast resin dry-type transformer (MOLTRA) is manufactured with the vacuum casting method. It utilizes the superior insulation and self-extinguishing characteristics of epoxy resin—making it safe in flammable environments.


General Electric Company

Founded: 1892

Location: Boston, Massachusetts, United States


General Electric Company (GE) is an American multinational conglomerate with operations in several industries, such as additive manufacturing, aviation, power, renewable energy, and finance.


GE’s Grid Solutions is a renewable energy business, which provides power utilities and industries with a variety of equipment, services, and systems. Among these is HV/MV equipment comprising a wide array of transformer solutions meeting rigorous operating requirements in electrical environments around the world.


In addition to providing specialized transformer services, GE has expertise in transformer manufacturing and designs and delivers transformers, such as:


Distribution transformers: GE offers highly reliable and technologically advanced distribution solutions, including:

  • Single-phase pole-mounted distribution transformers (installation on utility overhead systems)
  • Single-phase pad-mounted distribution transformers (modern underground residential applications)
  • Liquid-filled pad-mounted distribution transformers (designed for commercial and residential outdoor installation)


Special distribution transformers

  • Primary and secondary substation transformers
  • Cast coil transformers
  • Multitap transformers


Network transformers


Voltage regulators


Power transformers: GE’s low-maintenance, high-performance power transformers support a broad range of voltage levels and provide reliability in generation, transmission, and distribution.


Conventional power transformers: GE’s large, medium, and small power transformers are highly efficient and built to the latest industry standards, as well as operational and customer specifications.


Auto transformers: GE’s auto transformers are lighter with a compact footprint and are designed for constant flux regulation at high voltages and booster schemes.


Generator step-up transformers: GSU transformers last long with superior performance and are suitable for hydraulic, nuclear, and thermal applications from small to high voltages.


Special power transformers

  • Phase-shifting transformers
  • Transformers for SVC (Static Var Compensator) systems
  • Industrial transformers
  • Low-maintenance transformers
  • HVDC (High Voltage Direct Current) converter transformers


Green transformers: GE’s green power transformers come with a hermetically-sealed tank design and provide various benefits, including energy efficiency, lower CO2 emissions, noise reduction, and space savings.


Hitachi Energy

Founded: 2018

Location: Raleigh, North Carolina, United States


Hitachi Energy is a globally leading company, which provides a wide range of products and solutions, including transformers for data centers, marine, power  (generation, distribution, and transmission), solar and other applications.


In addition, the company provides transformer services for complete life-cycle support, including transformer replacement components and parts.


The company’s offerings include:


EconiQ™ transformers: EconiQ™ power and distribution transformers are built using scientific methodologies like Life Cycle Analysis and consist of best-in-class solutions for enhanced sustainability performance.


Transformers for floating applications: The company offers the OceaniQ™ portfolio of products, solutions (deployed offshore in floating, subsea, and fixed structures applications), and services, which can overcome harsh offshore conditions and vastly increase the available global capacity for developing offshore wind energy.


TXpert™ Enabled digital power transformer: The digitally enabled transformer prevents failures and unplanned outages, optimizes asset performance, and aids in intelligent grid management.


TXpand™: The rupture-resistant transformer solution with a demonstrated capability of absorbing energy from faults reduces risk, keeps the power flowing, and increases safety for people in and around power substations.


Hyosung Heavy Industries Co., Ltd.

Founded: 1962

Location: Seoul, South Korea


Hyosung Heavy Industries is a global transformer brand known for supplying high-efficiency transformers, green transformers, and customized transformer solutions for automobile, petrochemical, rail, ship-building, semiconductor, steelwork, and other applications.


The company developed the 154kV transformer for the first time in Korea. With an extensive project experience in 70+ countries globally, Hyosung Heavy Industries is a leading supplier in Asia, North America, and South America.


The company specializes in a variety of business areas, including Transmission & Distribution, which leads the global heavy electric machinery market and includes the following offerings:


Cast resin transformer: Cast resin transformers are safe, semi-permanent, and silent and are suitable for places, which require eco-friendliness, fire prevention, and resistance to a harsh environment.


Oil-immersed distribution transformer: The company has been supplying reliable, customized transformer solutions for automobile, petrochemical, semiconductor, ship-building and other applications.


Power transformer: Since 1969, Hyosung Heavy Industries has been manufacturing and operating ultra-high-voltage transformers up to 765 kV, including transformers built using core and shell form technologies.


Special transformer: Special transformers serve specific purposes, such as transformers for electric furnaces and gas insulation. Some of the company’s special transformers are Scott transformers and STATCOM (Static Synchronous Compensation) transformers.


Hyundai Electric & Energy Systems Co., Ltd.

Founded: 1977

Location: Seoul, South Korea


The inauguration of the Electrical Engineering Division (EED) in 1977 as a new division of Hyundai Heavy Industries Co., Ltd. marked the beginning of a company, which has grown into a globally recognized name in the manufacturing and distribution of electrical equipment.


Hyundai Electric & Energy Systems Co., Ltd. is now an integrated solution provider with offerings, such as power transformers, marine distribution transformers, specialized transformers, high-voltage motors, and energy solutions.


Hyundai Electric exports transformers to 70+ countries worldwide and supplies transformers for use in apartments, electric arc furnaces, high-speed railways, industrial plants, subways, wind generators, etc.


Power transformers: Hyundai Electric uses the latest equipment and industry-standard production systems to produce extra-high-voltage transformers with diverse specifications up to 800 kV.


Distribution transformers

  • Mold transformer (compact, fire resistant, and lightweight with excellent insulation)
  • Oil-immersed transformer (flexible design with a high degree of customization)


Marine distribution transformers: Hyundai Electric’s marine solutions for ships and offshore facilities include transformers built with advanced molding technology, eliminating the risk of explosion and fire.


Key features:

  • Compactness
  • Lightweight size
  • Low loss
  • Low noise
  • Stability


JSHP Transformer Co., Ltd.

Founded: 1967

Location: Liyang, Jiangsu, China


JiangSu HuaPeng Transformer Co., Ltd. (JSHP Transformer) is a family-owned manufacturer with an industry-leading reputation of being the world’s largest medium power transformer (MPT) producer.


JSHP transformers include:

  • Oil-immersed transformers (500/750 kV series, 220/345 kV series, 110 kV-66kV series, and 35 kV-10 kV series furnace transformer)
  • Dry type (cast resin transformer up to 115 kV, 40 MVA)
  • JStrong™ transformers (designed for offshore wind turbine cell installation with the capability to withstand internal arcing without tank rupture and causing fire)


In addition, JSHP renewable transformers include solar GSU and wind GSU transformers.


According to company data (2022), it has been serving:

  • 18% of the load of Las Vegas, NV
  • 14% of the load of Dublin, Ireland
  • 10% of the load of New York City


In addition, the company mentions a track record of delivering:

  • 11,000+ units (115kV-765kV power transformers I 2-3 units shipped per day)
  • 50,000+ units (renewable GSU I 500+ units shipped per month)
  • 3,000+ MV power stations (worldwide delivery)


Siemens Energy AG

Founded: 2020

Location: Munich, Germany


Siemens Energy AG (Siemens Energy) is a major energy development company formed by the spin-off of the former Gas and Power division of the Siemens Group.


Siemens Energy’s grid technologies’ portfolio includes but not limited to the following:


CAREPOLE dry-type pole-mounted transformers: These are environmentally friendly, reliable, and safe transformers, which possess outstanding electrical, mechanical, and thermal characteristics. Furthermore, CAREPOLE was selected for the 2022 “EUISSCA Sustainable Supply Chain Award.”


Fluid-immersed distribution transformers: These are compact and reliable transformers with fully bio-degradable ester-insulating oil for improved operation at high temperatures.


GEAFOL cast resin transformers: GEAFOL cast resin transformers are environmentally friendly while exceeding the highest safety standards and retaining excellent electrical, mechanical, and thermal characteristics.


HVDC transformers: HVDC transformers support efficient power exchange between interconnected systems and asynchronous grids. These transformers also enable bulk and reliable power supply from generation units to load centers (at the lowest possible transmission losses).


Phase-shifting transformers: Phase-shifting transformers are the most cost effective for active power flow control to enhance the flexibility and stability of transmission grids.


Power transformers: Power transformers are highly efficient and reliable for different application areas, including industry, infrastructure, power generation, and power transmission.


Traction transformers: Traction transformers provide flexible power transformation for rail operators and train manufacturers and can handle the highest ratings in a limited space.


Transformers for industrial applications: These are cost-efficient and reliable transformers designed to withstand the harshest conditions and tailormade for industrial applications.


Furthermore, Siemens Energy’s Sensformer® makes transformers connective through sensors for vital operating parameters, such as oil level, LV winding current, temperature, and GPS positioning.


TBEA Co., Ltd.

Founded: 1938

Location: Changji, Changji Hui Autonomous Prefecture, China


Previously known as “Tebian Electric Apparatus,” TBEA is credited with developing the first power transformer in China in 1938. The company is a globally leading power transmission and distribution equipment manufacturer, with 18 domestic industrial parks and 3 overseas manufacturing bases.


TBEA’s transformer product range meets industry standards, such as AS (Australian), BS (English), CSA (Canadian), IEEE (American), IS (Indian), and Technical Standards of IEC (International).


The key features of the transformers include:

  • High reliability
  • Low loss
  • Low noise
  • Low partial discharge
  • Low temperature rise


TBEA provides the following transformers for voltage transformation and power transmission at power grids, power plants, large power enterprises, etc.:

  • Cabinet-type substation [American type]
  • Cabinet-type substation [European type]
  • Large capacity dry-type transformer [30000kVA]


In addition, the company offers the following transformers:

  • Dry-type transformer in wind turbine generator room (covers 3.4 MW, 4.5 MW, 5 MW, 6 MW, 7 MW and other mainstream wind power models)
  • ODFPS [1000kV 1000MVA power transformer]


Toshiba Energy Systems & Solutions Corporation

Founded: 2017 (spun off from Toshiba Corporation)

Location: Kanagawa Prefecture, Japan


Toshiba Energy Systems & Solutions Corporation is a subsidiary of the Toshiba Group—a Japanese multinational conglomerate commonly known as “Toshiba” (TOSHIBA) with an over 135-year-old industry legacy.  


The name “Toshiba” is derived from its former name—Tokyo Shibaura Electric Co., Ltd.—a merger between Shibaura Seisaku-sho and Tokyo Denki.


Toshiba Energy Systems & Solutions Corporation provides energy-related solutions, including heavy ion therapy and energy transmission and distribution solutions, as well as renewable energy generation systems and energy aggregation services.


Among its overseas companies is “Toshiba Transmission & Distribution Systems (India) Private Limited (TTDI), which serves as the global manufacturing hub of Toshiba Corporation.


TTDI’s product portfolio includes:


Completely Self-protected transformers: CSPs offer a safe solution against lightning, severe overloads, and switch surges.


Corrugated tank distribution transformers: These compact, elegant transformers require little maintenance and are manufactured using the most modern manufacturing practices.


Oil-filled power transformers: These are robustly designed with sturdy construction to handle short circuits effectively. Furthermore, the company’s single-phased oil-filled distribution transformers are designed to improve the reliability of electrical distribution systems.


Three-phase pad-mounted transformers: These are safe, reliable, and aesthetic and serve as compact power centers for commercial or industrial applications.


Additionally, TTDI has over 15 years of experience in producing dry-type cast resin transformers.


The company’s Energy Systems Research & Development Center focuses on developing technologies for carbon neutrality and improvement of Quality of Life (QoL) and infrastructure resilience.


Other significant players include Mitsubishi Electric and Schneider Electric, which are well known for transformers with benefits, such as customized designs (catering to lower voltage and other applications), high efficiency and reliability, and long service life. 


Triad Magnetics is another company that provides custom-manufactured inductors and transformers, as well as high-frequency magnetics and power supplies, with global manufacturing and distribution capabilities.


Blackridge Research & Consulting – Global Transformer Market Report

Do you want to gain access to a comprehensive analysis of the transformer market?


Blackridge Research & Consulting’s Global Transformer Market report provides a meticulous market analysis across multiple regions, including the most influential growth drivers and restraints, present and future market opportunities, and important commercial developments.


In addition, you will find deep insights into the competitive landscape, emerging market trends, key industry players, etc.


Contact us to learn more about the introductory offer and instant savings on your first or multiple purchases. Blackridge Research & Consulting provides custom research services and free report customization.


Furthermore, all report purchases come with up to 60 minutes of exclusive analyst access and post-purchase analyst support up to a year.


Wrapping Up

The manufacturing process of transformers involves skilled craftsmanship for constructing a transformer’s core, which consists of steel plates wrapped with coils of insulated copper wire.


In contrast to a standard transformer available in the market, a custom transformer can meet specific requirements, such as a limited space, noise reduction, and voltage stepping (requires a specially designed transformer optimized for precise input and output voltage levels).


Across the world, transformer suppliers employ cutting-edge technologies to create safe, reliable, and efficient transformers useful for various applications, such as:

  • Conventional power plants
  • Industrial plants
  • Mining and steel plants
  • Nuclear power plants
  • Oil & gas facilities
  • Renewable energy plants
  • Substations
  • Water treatment plants


From addressing market challenges to developing custom solutions in an evolving transformer industry, transformer manufacturers worldwide play a key role in powering the engine of green growth and ensuring reliable electrical energy for all.


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