In recent years, China's power demand has increased rapidly, and the high-speed construction and investment of power grid have stimulated the market demand of power transmission and transformation equipment. Huge power construction funds have brought opportunities and challenges to the transformer industry (including transformer, transformer, reactor, component manufacturers), and promoted the rapid development of transformer industry.

With fierce competition in China's transformer industry, foreign multinational companies have seized a large market share, and the number of domestic transformer manufacturing enterprises is also growing rapidly. There are more than 20 enterprises with 220kV transformer production capacity and more than 100 enterprises with 110kV transformer production capacity. However, the enterprises producing transformers above 500kV have set up high barriers to entry through technology and capacity, and the market structure tends to be stable.

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In 2011, the output of transformers in China reached 1.43 billion KVA, a year-on-year increase of 6.86%. In 2011, there were 1461 large-scale enterprises in China's transformer manufacturing industry, with sales volume of 290.140 billion yuan, total profit of 16.608 billion yuan, asset scale of 263.840 billion yuan, and product sales profit of 33.972 billion yuan.

During the period of 2012-2020, China's transformer market will step into a relatively high-speed development period under the direct influence of domestic power grid construction and transformation, and the industrial scale will continue to increase.

According to the analysis of "2014-2018 China power transformer industry market demand forecast and investment strategic planning analysis report" issued by forward looking Industry Research Institute: with the deepening of power grid reconstruction project and the acceleration of power grid upgrading speed, China's transformer production will still maintain a rapid growth rate. It is estimated that by 2015, China's transformer output will exceed 2 billion kVA.

Quoted from China Transformer Network