According to our (Global Info Research) latest study, the global Electric Furnace Transformer market size was valued at US$ 1021 million in 2025 and is forecast to a readjusted size of US$ 1331 million by 2032 with a CAGR of 3.9% during review period.
In 2024, global Electric Furnace Transformer production capacity is 3,000 units, with production reached approximately 2,100 units, with an average global market price of around US$ 450,000 per unit. The market gross margin is mainly 35%-45%.
An electric furnace transformer (EVT) is a specialized high-power transformer that provides dedicated power to metallurgical electric furnaces (including electric arc furnaces (EAF), ladle furnaces (LF), submerged arc furnaces (SAF), induction furnaces (IF), and DC-EAF). Its characteristics include high current, strong impact resistance, low voltage, frequent short circuits, heavy thermal loads, and a wide voltage regulation range. It also requires enhanced design features such as overload resistance, arc flashover resistance, and electromagnetic and thermal stability. Depending on the application scenario, EFU transformers cover industries such as scrap steelmaking in electric arc furnaces, short-process steel mills, electric furnace continuous casting, ferroalloys (silicon manganese, ferrosilicon, ferrochrome), yellow phosphorus, carbon, copper/nickel/aluminum smelting, titanium sponge production, and pre-treatment before electrolysis. It is a core power equipment in electric furnace metallurgical systems.
The upstream of the industry chain includes silicon steel sheets, copper conductors, oil-impregnated insulation materials (transformer oil, insulating paper), resin castings, winding wires, cooling systems (air-cooled/water-cooled), voltage regulating switches (OLTC), DC rectifiers, and monitoring and protection systems; the midstream consists of electric arc furnace transformer manufacturers (global: ABB, Siemens Energy, SGB, Tamini, GE; China: TBEA, Baobian, CETC, Pinggao, Xi'an Electric, Trelleborg, etc.), providing a full range of EAF/LF/SAF/IF furnace transformer equipment and customized engineering; downstream customers include steel companies (short-process steel mills, electric arc furnace steelmaking plants), ferroalloy companies (silicon manganese, ferrosilicon, ferrochrome), yellow phosphorus and carbon companies, copper/aluminum smelters, titanium/nickel/lithium raw material smelting companies, large mining groups, and metal processing companies. These customers are extremely sensitive to equipment stability, energy efficiency, voltage regulation response speed, shock resistance, cooling capacity, and life cycle cost. The service chain includes high-value-added services such as installation and commissioning, fault diagnosis, winding repair, insulating oil replacement, life assessment and digital monitoring.
In the coming years, the Electric Furnace Transformer market will maintain steady growth, mainly driven by three structural factors: (1) the global steel industry is accelerating its transformation to "electric furnace short process" (carbon emission requirements drive up the proportion of scrap steel), leading to the expansion of large EAF/LF transformers of 80-200 MVA level; (2) the demand for ferroalloys, yellow phosphorus, carbon materials and new energy metals (lithium, nickel, vanadium, battery precursors) is increasing, driving the continuous increase in demand for transformers for submerged arc furnaces and rectifier furnaces; (3) the energy-saving transformation, intelligent monitoring and digital operation and maintenance of high-energy-consuming industries are driving the penetration of high-efficiency cooling, low-loss and digitally monitored furnace transformers. Regionally, China, India, Southeast Asia and the Middle East are still the largest incremental markets; Europe and North America are mainly driven by equipment upgrades brought about by electric furnace steelmaking replacing blast furnace ironmaking. Overall, electric furnace transformers are typical core equipment of metallurgical power with high technical barriers, high customization, high reliability, long life cycle and strong replacement rigidity. In the future, demand will be continuously driven by the dual engines of "green steel + new energy metal smelting".
This report is a detailed and comprehensive analysis for global Electric Furnace Transformer market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Electric Furnace Transformer market size and forecasts, in consumption value ($ Million), sales quantity (Unit), and average selling prices (K USD/Unit), 2021-2032
Global Electric Furnace Transformer market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Unit), and average selling prices (K USD/Unit), 2021-2032
Global Electric Furnace Transformer market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Unit), and average selling prices (K USD/Unit), 2021-2032
Global Electric Furnace Transformer market shares of main players, shipments in revenue ($ Million), sales quantity (Unit), and ASP (K USD/Unit), 2021-2026
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Electric Furnace Transformer
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Electric Furnace Transformer market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Siemens, Sanding, ABB, GE, China XD Electric, Tamini, Uralelectrotyazhmash, TEBA, Electrotherm, Shenda, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Electric Furnace Transformer market is split by Type and by Application. For the period 2021-2032, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Less than 30 MVA
30-80 MVA
More than 80 MVA
Market segment by Furnace Type
Arc Furnace Transformer
Ladle Furnace Transformer
Others
Market segment by Cooling Type
Water-Cooled Furnace Transformer
Oil-Cooled Furnace Transformer
Others
Market segment by Application
Steelmaking
Ferroalloy Production
Others
Major players covered
Siemens
Sanding
ABB
GE
China XD Electric
Tamini
Uralelectrotyazhmash
TEBA
Electrotherm
Shenda
Kitashiba Electric
Hyundai
Liuzhou Special Transformers
Voltamp Transformers Ltd
Yixing Xingyi
Hammond Power Solutions Pvt. Ltd
JiangSu XinTeBian
Fuji Tusco Co., Ltd
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Electric Furnace Transformer product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Electric Furnace Transformer, with price, sales quantity, revenue, and global market share of Electric Furnace Transformer from 2021 to 2026.
Chapter 3, the Electric Furnace Transformer competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Electric Furnace Transformer breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2021 to 2032.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2021 to 2032.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2021 to 2026.and Electric Furnace Transformer market forecast, by regions, by Type, and by Application, with sales and revenue, from 2027 to 2032.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Electric Furnace Transformer.
Chapter 14 and 15, to describe Electric Furnace Transformer sales channel, distributors, customers, research findings and conclusion.
Summary:
Get latest Market Research Reports on Electric Furnace Transformer. Industry analysis & Market Report on Electric Furnace Transformer is a syndicated market report, published as Global Electric Furnace Transformer Market 2026 by Manufacturers, Regions, Type and Application, Forecast to 2032. It is complete Research Study and Industry Analysis of Electric Furnace Transformer market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.