Instrument Transformers Market – Analysis and Forecast (2019-2025), Industry Insights.


Posted August 13, 2021 by industryno1

VynZ Research is a global market intelligence company providing research reports.

 
The global instrument transformers market was valued at USD 8.1 Billion in 2019 and is projected to reach USD 10.2 Billion by 2025, at a CAGR of 3.9% during the forecast period.

The transformers are used in the CA system to calculate voltage, current, power, capacity, power factor, frequency, and electrical quantities. AC Device voltage and current are the basic feature of Instrument transformers. The power system is very high in voltage and current. The design of the measurement instruments to measure such high voltage and current is extremely difficult and expensive. Measuring instruments for 5 A and 110 V are usually equipped.

There is a growing emphasis on extending the power grid to include rural areas in a variety of developing and underdeveloped nations worldwide. Regions including Africa with poor electricity connectivity have introduced numerous roadmaps for the grid to its remote locations. Power Africa, a US-led project, is scheduled to provide 30 GW power by 2030 and will provide electricity to around 60 million households in remote parts of the country creating opportunity to expand the operations soon.

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Market Segmentation

By Region:

- Europe
- North America
- Asia-Pacific
- ROW
The highest market share is North America. During the forecast period, China is anticipated to be the fastest growing region. Rising energy demand and government efforts to increase the ability of renewable energy sources for power generation would improve the market in this area as well as replace aging power plants.

By Enclosure Type:

- Indoor Transformers
- Outdoor Transformers
The category of outdoor transformers is the largest in the industry. The reasons may be attributed to the increased demand in developed countries for long-haul power transmission. The electricity generated in developed countries is situated close to urban areas which also need to be distributed in rural areas. Therefore, the section of outdoor transformers was approved.

Key Players and Competitive Landscape

In 2019, the global demand for transformers was divided. During the forecast era, this pattern will continue.

- ABB Group (Switzerland)
- Siemens Ltd. (Germany)
- General Electric Company (USA)
- Crompton Greaves Ltd. (India)
- Toshiba Corporation (Japan)
- Hyundai Heavy Industries Co. Ltd (South Korea)
- SPX Transformers Solutions (USA)
- Hyosung Corporation (South Korea)
- Bharat Heavy Electricals Limited (India)
- JSHP Transformers (China)
- Mitsubishi Electric Corporation (Japan)

SOURCE: VynZ Research
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Last Updated August 13, 2021