Transformer lead times and prices: market update

Lead times

According to Wood Mackenzie's Q2 2025 survey, as reported by POWER Magazine, average lead times were 128 weeks for power transformers and 144 weeks for generator step-up (GSU) transformers. That is roughly two and a half to almost three years from order to delivery, on average.

Averages hide a wide range. Lead times vary with rating, voltage class, the manufacturer and how customized the design is. Some factories quote shorter times for certain ratings, and released production slots occasionally appear. Others are longer than the average.

GSUs tend to run longer than other power transformers because they are among the most customized units a factory builds. Their low-voltage winding must match the generator, and their impedance is usually set by an interconnection study.

Prices

Wood Mackenzie estimated in 2025 that power transformer prices were up about 77% since 2019, and GSU prices up about 45% over the same period.

For a sense of scale, U.S. International Trade Commission data cited by NREL in 2026 indicate that new large power transformers have typically cost about $15,000 to $21,000 per MVA, or roughly $1.5 million to $2.1 million for a 100 MVA unit. Highly customized units cost more. These figures are for the transformer itself. Transport, installation, testing and commissioning are additional.

Imports

Wood Mackenzie estimated that about 80% of large power transformers used in the U.S. in 2025 are imported. That makes ocean freight, port handling, tariffs and country-of-origin rules part of most purchases. It also means that buyers subject to domestic-content requirements are competing for a smaller share of supply.

Transport and logistics

The U.S. Department of Energy estimated in 2014 that transport and logistics account for roughly 3% to 20% of the total cost of a large power transformer. The range is wide because it depends on the route: distance, rail access, road weight limits, bridge crossings and the permits required along the way. A unit that is close to your site can be worth more than its price alone suggests.

Service life

Hitachi Energy notes that large power transformers can operate for up to 40 years. A purchase made now will likely be in service for decades, which is why specification, condition and documentation matter as much as delivery date.

Cancelled projects and secondary supply

Lawrence Berkeley National Laboratory's Queued Up 2026 report found that more than 750 GW of projects withdrew from U.S. interconnection queues in 2025. Some of those projects had already ordered transformers. Units from cancelled projects are one source of surplus and never-energized equipment, alongside utility spares and released factory slots.

What this means for buyers

• Start market checks early, once voltage and impedance requirements are known.
• Compare new orders, released slots and existing units on the same basis, including transport.
• Check every existing unit thoroughly before committing money. Our used transformer checklist covers the main points.

If you need a unit, start a search.

Sources

• Wood Mackenzie, Q2 2025 supply chain survey, as reported by POWER Magazine.
• Wood Mackenzie, 2025 analysis of transformer prices and imports.
• U.S. International Trade Commission data, as cited by the National Renewable Energy Laboratory (NREL), 2026.
• U.S. Department of Energy, Large Power Transformers and the U.S. Electric Grid, 2014.
• Hitachi Energy, published product information on large power transformers.
• Lawrence Berkeley National Laboratory, Queued Up 2026.