Data centre transformer market forecast to reach $10.72B by 2031

Nov 13, 2026
MarketsandMarkets says investment in AI-ready data centres is a driver of demand for transformers.

The global market for data centre transformers will grow from $5.59 billion in 2026 to $10.72 billion by 2031, a compound annual growth rate of 13.9%, according to a forecast from MarketsandMarkets.

The research firm says cloud computing, AI and high-performance computing are raising electricity use in data centres, and that investment in AI-ready facilities is driving demand for oil-immersed and dry-type transformers that convert voltage for IT equipment and cooling. It also points to solid-state transformers as a possible future opportunity.

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