The critical importance of power transformers in any power system can never be over emphasized. The transformer design and manufacturing techniques have remained more or less the same for almost 150 years. But in recent times continuous efforts to achieve energy efficiency and cost effectiveness without compromising the electrical performance of the system has compelled power engineers to move ahead from conventional transformer design and manufacturing techniques to next generation concepts thus achieving a balance of long term monetary savings and superior performance which was not possible a couple of decades ago. The aim of this research paper is to introduce new design and manufacturing techniques which are evolving to give rise of smarter use of new materials thereby changing the physical construction of traditional transformer. The paper also presents the practical advantages of the emerging
designs and manufacturing techniques through theoretical design calculations and practical case studies.