Domestic transformer orders overseas are surging! There are currently 139,800 transformer companies, with over 40% located in East China.

Under the dual drive of the global power shortage and the explosion of AI computing power, domestic transformers are entering a high prosperity cycle, showing a triple benefit trend in orders, exports, and supply. According to reports from CCTV News, recently, transformer manufacturing companies in multiple regions of the country have been operating at full capacity, with overseas orders continuously in high demand, and some companies have production tasks scheduled as far out as 2027. Citigroup analysts predict that the global power transformer industry supply shortage will last at least until 2029. However, it is worth mentioning that China has established the most complete transformer production system in the world, with a strong capability of independent control across the entire industry chain, accounting for about 60% of global capacity.

According to data from Qichacha, as of March 24, there are 139,800 existing transformer-related enterprises in China, with 12,700 new registrations in 2025, a year-on-year increase of 4.81%. So far this year, 2,400 companies have been registered. In terms of existing stock, most of the transformer-related enterprises are well-established companies, with over 60% founded more than five years ago. From the regional distribution perspective, the stock of transformer-related enterprises is highly concentrated, mainly distributed in East China, accounting for 43.19%.

1. There are 139,800 existing transformer-related enterprises

Qichacha data shows that as of March 24, there are 139,800 existing transformer-related enterprises in China, with 12,700 registered in 2025, a year-on-year increase of 4.81%. So far this year, 2,400 new companies have been registered. In terms of operational duration, most of the existing transformer-related companies are long-established, with over 60% founded more than five years ago. Among these, the largest proportion is companies established between 5-10 years, accounting for 33.72%, and companies established over 10 years account for 27.83%.

2. The registered capital of related enterprises is relatively evenly distributed

Qichacha data indicates that, in terms of registered capital, the distribution among transformer-related enterprises is fairly even. Enterprises with registered capital within 1 million yuan account for 28.47%; those with registered capital between 10 million (inclusive) and 50 million yuan account for 21.47%; and enterprises with registered capital between 1 million (inclusive) and 2 million yuan account for 16.92%. This forms a capital structure based on small and micro enterprises as the foundation and medium-sized enterprises as the backbone, ensuring market flexibility while maintaining the capacity for large-scale production.

3. Related enterprises are concentrated in East China

Qichacha data shows that, regionally, the stock of transformer-related enterprises is highly concentrated, with East China accounting for 43.19%; South China for 19.55%; and North China for 11.42%. The combined share of these three regions exceeds 74%.