The transformer industry is showing a sustained growth trend in the context of the new energy revolution and smart grid construction. It is expected that the global market size will maintain a growth rate of over 8% by 2025, with distribution transformers, high-voltage transformers, and emerging PCB winding transformers becoming the main growth points. ‌‌‌‌

1. The demand for new energy grid connection has surged
   New energy projects such as wind and solar power need to be connected to the grid through multiple voltage boosting to drive the demand for ultra-high voltage/ultra high voltage transformers. In 2025, the domestic ultra-high voltage engineering plan is to put into operation the "two AC and five DC" project, and the value of newly added equipment such as converter valves will be significantly increased. ‌‌
   

2. Technological innovation iteration acceleration
   PCB winding transformers have achieved a 50% reduction in volume and a 20% increase in power density through process innovation, and have been widely applied in the fields of new energy vehicle OBC and photovoltaic inverters. ‌‌

3. Characteristics of segmented market development
   Distribution transformers: Oil immersed transformers account for 89.66% of the market share, with a market size of 19.435 billion yuan in China in 2023. The transformation of smart grids has promoted the penetration rate of dry-type transformers to 10.34%. ‌‌
   High voltage equipment testing: High voltage test transformers are evolving towards lightweight (reducing volume by 20%) and intelligent (integrating IoT sensors), with a focus on application in new energy power plant testing and laboratory scenarios. ‌‌