Research Nester’s recent market research analysis on “Bar Type Current Transformer Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global bar-type current transformer market in terms of market segmentation by cooling, voltage, application and by region.

Surging Mining Industry and Growing Industrial Automation to Promote Global Market Share of Bar Type Current Transformer Market

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The global bar-type current transformer market is estimated to grow majorly on account of rising automation. A bar type CT is an in line CT, much costlier and is mounted in line and designed for indoor service and suitable for instruments, operating meters, control devices, and relays. In the year 2022, almost 76.1% of businesses utilize automation in daily workflows. The uses of the current transformer are in current measurement and monitoring in power systems, fault protection in electrical equipment, energy melting and billing in utility applications, and ground fault detection. Also, these are used widely in current monitoring in various renewable energy systems. There has been an expansion in the generation of renewable energy as almost 29.1% of global electricity comes from renewable sources. On the back of the rising demand in numerous industries for current transformers, the global bar-type current transformer market is projected to garner remarkable growth. Furthermore, there has been a rising demand for the refurbishment of the existing grid infrastructure and increasing infrastructural spending. For instance, in the year 2023, the US government declared a spending of almost USD 1.31 billion to upgrade the aging electric grid. Owing to this, the global bar-type current transformer market is projected to garner remarkable growth.

Some of the major growth factors and challenges that are associated with the growth of the global bar-type current transformer market are:
Growth Drivers:
• Exponentially Rising Deployment of Renewable Energy
• Rising Investment Toward Expansion of Distribution
Challenges:
Increasing strict regulatory standards, supply chain disruptions on the back of geopolitical tensions, and varying prices of raw materials are some of the major factors anticipated to hamper the global market size of global bar-type current transformer market.

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By voltage, the global bar-type current transformer market is segmented into 33 kV to 66 kV. Out of these, almost