HOME Top Market Reports Instrument Transformers Market by Type (Current, Potential, and Combined Instrument Transformers), Enclosure Type (Indoor and Outdoor), Dielectric Medium (Solid, Liquid, and SF6 Gas), Voltage, Application, End-User, and Region - Global Forecast to 2022

Instrument Transformers Market by Type (Current, Potential, and Combined Instrument Transformers), Enclosure Type (Indoor and Outdoor), Dielectric Medium (Solid, Liquid, and SF6 Gas), Voltage, Application, End-User, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: January 2018
Report Code: EP 5867

 

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The global instrument transformers market was valued at USD 7.14 Billion in 2016 and is projected to reach USD 9.06 Billion by 2022, at a CAGR of 4.35% during the forecast period.

The years considered for the study are as follows:

  • Base Year: 2016
  • Estimated Year: 2017
  • Projected Year: 2022
  • Forecast Period: 2017–2022

The base year considered for company profiles is 2016. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define and segment the instrument transformers market with respect to type, voltage, dielectric medium, enclosure type, application, end-user, and region
  • To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the instrument transformers market with respect to individual growth trends, future expansions, and contributions to the market
  • To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
  • To forecast the growth of the instrument transformers market with respect to the major regions (Asia Pacific, Europe, North America, South America, the Middle East, and Africa)
  • To strategically profile key players and comprehensively analyze their market rankings and core competencies
  • To analyze competitive developments, such as new product launches, mergers & acquisitions, expansions and investments, and contracts & agreements, in the instrument transformers market

Research Methodology

This research study involved the use of extensive secondary sources, directories, journals on power transmission and distribution technologies, and other related rental markets; newsletters and databases such as Hoover’s, Bloomberg, Businessweek, and Factiva, among others, to identify and collect information useful for a technical, market-oriented, and commercial study of the global instrument transformers market. The primary sources include several industry experts from the core and related industries, vendors, preferred suppliers, technology developers, alliances, and organizations related to all the segments of this industry’s value chain.  The research methodology has been explained below.

  • Study of annual revenues and market developments of the major players providing instrument transformers
  • Assessment of future trends and growth of end-users
  • Assessment of the instrument transformers market with respect to the technology used for different applications at various voltages

After arriving at the overall market size, the total market was split into several segments and sub-segments. The figure given below illustrates the breakdown of primary interviews conducted during the research study based on company type, designation, and region.

Instrument Transformers Market

To know about the assumptions considered for the study, download the pdf brochure

Major players operating in the market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), and GE (US).

Target Audience:

  • Banks, venture capitalists, financial institutions, and other investors
  • Companies related to electric power generation, transmission, and distribution
  • Energy associations
  • Environment associations
  • Government and industry associations
  • Government and research organizations
  • Smart grid project developers
  • Instrument transformer component manufacturers, dealers, and suppliers
  • State and national regulatory authorities
  • Substation equipment manufacturing companies

Scope of the Report:

  • By Type
    • Current Transformers
    • Potential Transformers
      • Inductive Potential Transformers
      • Capacitive Potential Transformers
    • Combined Instrument Transformers
  • By Dielectric Medium
    • Liquid Dielectric
    • SF6 Gas Dielectric
    • Specialty Transformers
  • By Voltage
    • Distribution Voltage
    • Sub-Transmission Voltage
    • High Voltage Transmission
    • Extra High Voltage transmission
    • Ultra-High Voltage Transmission
  • By Enclosure Type
    • Indoor
    • Outdoor
  • By Application
    • Transformer and Circuit Breaker Bushing
    • Switchgear Assemblies
    • Relaying
    • Metering and Protection
  • By End-User
    • Power Utilities
      • Power Transmission Utilities
      • Power Distribution Utilities
    • Power Generation
    • Railways and Metros
    • Industries and OEMs
  • By Region
    • Asia Pacific
    • North America
    • Europe
    • Middle East
    • South America
    • Africa

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Company Information

Detailed analyses and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Limitations
    2.5 Research Assumptions
           2.5.1 Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 34)
    4.1 Attractive Opportunities in the Instrument Transformers Market
    4.2 Asia Pacific Instrument Transformers Market, By End-User & By Country
    4.3 Instrument Transformers Market, By Country
    4.4 Instrument Transformers Market, By Type
    4.5 Instrument Transformers Market, By Application
    4.6 Instrument Transformers Market, By Dielectric Medium

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rise in Alternative Energy Programs
                    5.2.1.2 Refurbishment of the Aging Power Infrastructure
                    5.2.1.3 Huge Investments in Smart Grids and Energy Systems
           5.2.2 Restraints
                    5.2.2.1 Increasing Competition From the Unorganized Sector of the Instrument Transformer Market
           5.2.3 Opportunities
                    5.2.3.1 Increasing Investments in the Transmission & Distribution Infrastructure
                    5.2.3.2 Expanding Cross-Border Electricity Trade
                    5.2.3.3 Adoption of the Hvdc Technology for Long Distance Transmission
           5.2.4 Challenges
                    5.2.4.1 Delays in Grid Expansion Projects

6 Instrument Transformers Market, By Type (Page No. - 45)
    6.1 Introduction
    6.2 Current Transformers
    6.3 Potential Transformers
           6.3.1 Inductive Potential Transformers
           6.3.2 Capacitive Potential Transformers
    6.4 Combined Instrument Transformers

7 Instrument Transformers Market, By Dielectric Medium (Page No. - 51)
    7.1 Introduction
    7.2 Liquid Dielectric Instrument Transformers
    7.3 SF6 Gas Dielectric Instrument Transformers
    7.4 Solid Dielectric Instrument Transformers

8 Instrument Transformers Market, By Voltage (Page No. - 56)
    8.1 Introduction
    8.2 Distribution Voltage
    8.3 Sub-Transmission Voltage
    8.4 High Voltage Transmission
    8.5 Extra High Voltage Transmission
    8.6 Ultra-High Voltage Transmission

9 Instrument Transformers Market, By Enclosure Type (Page No. - 63)
    9.1 Introduction
    9.2 Indoor Instrument Transformers
    9.3 Outdoor Instrument Transformers

10 Instrument Transformers Market, By Application (Page No. - 67)
     10.1 Introduction
     10.2 Transformer & Circuit Breaker Bushing
     10.3 Switchgear Assemblies
     10.4 Relaying
     10.5 Metering & Protection

11 Instrument Transformers Market, By End-User (Page No. - 72)
     11.1 Introduction
     11.2 Power Utilities
             11.2.1 Power Transmission Utilities
             11.2.2 Power Distribution Utilities
     11.3 Power Generation
     11.4 Railways & Metros
     11.5 Industries & OEMS
             11.5.1 Oil & Gas
             11.5.2 Iron & Steel
             11.5.3 Cement
             11.5.4 Chemicals
             11.5.5 Automobiles
             11.5.6 Industrial Machinery

12 Instrument Transformers Market, By Region (Page No. - 80)
     12.1 Introduction
     12.2 North America
             12.2.1 US
             12.2.2 Canada
             12.2.3 Mexico
     12.3 Europe
             12.3.1 Germany
             12.3.2 UK
             12.3.3 France
             12.3.4 Spain
             12.3.5 Sweden
             12.3.6 Norway
             12.3.7 Russia
             12.3.8 Rest of Europe
     12.4 Asia Pacific
             12.4.1 China
             12.4.2 India
             12.4.3 Japan
             12.4.4 South Korea
             12.4.5 Australia
             12.4.6 Rest of Asia Pacific
     12.5 Middle East
             12.5.1 Saudi Arabia
             12.5.2 UAE
             12.5.3 Qatar
             12.5.4 Rest of the Middle East
     12.6 South America
             12.6.1 Brazil
             12.6.2 Argentina
             12.6.3 Chile
             12.6.4 Rest of South America
     12.7 Africa
             12.7.1 South Africa
             12.7.2 Kenya
             12.7.3 Nigeria
             12.7.4 Rest of Africa

13 Competitive Landscape (Page No. - 127)
     13.1 Introduction
     13.2 Market Ranking Analysis
     13.3 Competitive Scenario
             13.3.1 Contracts & Agreements
             13.3.2 Investments & Expansions
             13.3.3 Mergers & Acquisitions
             13.3.4 Joint Ventures

14 Company Profiles (Page No. - 132)
(Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     14.1 ABB
     14.2 GE
     14.3 Mitsubishi Electric
     14.4 Schneider Electric
     14.5 Siemens
     14.6 Arteche
     14.7 BHEL
     14.8 CG Power
     14.9 Nissin Electric
     14.10 EMEK
     14.11 Indian Transformers Company
     14.12 Instrument Transformer Equipment
     14.13 Konθar-Instrument Transformers
     14.14 Pfiffner Instrument Transformers
     14.15 Ritz Instrument Transformers

*Details on Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 163)
     15.1 Insights of Industry Experts
     15.2 Discussion Guide
     15.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.4 Introducing RT: Real-Time Market Intelligence
     15.5 Available Customizations
     15.6 Related Reports
     15.7 Author Details


List of Tables (99 Tables)

Table 1 Instrument Transformers Market Snapshot
Table 2 Comparison Between Current Transformers & Potential Transformers
Table 3 Key Smart Grid Investment Initiatives
Table 4 Global T&D Infrastructure Expansion Plans
Table 5 Instrument Transformers Market Size, By Type, 2015–2022 (USD Billion)
Table 6 Current Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 7 Potential Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 8 Potential Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 9 Combined Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 10 Instrument Transformers Market Size, By Dielectric Medium, 2015–2022 (USD Billion)
Table 11 Liquid Dielectric Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 12 SF6 Gas Dielectric Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 13 Solid Dielectric Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 14 Company Competitive Analysis By Product Offering Across the Voltage Segment
Table 15 Instrument Transformers Market Size, By Voltage, 2015–2022 (USD Billion)
Table 16 Distribution Voltage: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 17 Sub-Transmission Voltage: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 18 High Voltage Transmission: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 19 Extra High Voltage Transmission: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 20 Instrument Transformers Market Size, By Enclosure Type, 2015–2022 (USD Billion)
Table 21 Indoor Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 22 Outdoor Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 23 Instrument Transformers Market Size, By Application, 2015–2022 (USD Million)
Table 24 Transformer & Circuit Breaker Bushing: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 25 Switchgear Assemblies: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 26 Relaying: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 27 Metering & Protection: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 28 Instrument Transformers Market Size, By End-User, 2015–2022 (USD Billion)
Table 29 Power Utilities: Instrument Transformers Market Size, By Utility Type, 2015–2022 (USD Million)
Table 30 Power Utilities: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 31 Power Generation: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 32 Railways & Metros: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 33 Industries & OEMS: Instrument Transformers Market Size, By Industry Type, 2015–2022 (USD Million)
Table 34 Industries & OEMS: Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 35 Cement Production of Top 5 Countries, 2012–2015 (Million Tonnes)
Table 36 Instrument Transformers Market Size, By Region, 2015–2022 (USD Million)
Table 37 North America: Instrument Transformers Market Size, By Country, 2015–2022 (USD Million)
Table 38 North America: Instrument Transformers Market Size, By Dielectric Medium, 2015–2022 (USD Million)
Table 39 North America: Instrument Transformers Market Size, By Enclosure Type, 2015–2022 (USD Million)
Table 40 North America: Instrument Transformers Market Size, By Application, 2015–2022 (USD Million)
Table 41 North America: Instrument Transformers Market Size, By End-User, 2015–2022 (USD Million)
Table 42 US: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 43 Canada: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 44 Mexico: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 45 Europe: Instrument Transformers Market Size, By Country, 2015–2022 (USD Million)
Table 46 Europe: Instrument Transformers Market Size, By Dielectric Medium, 2015–2022 (USD Million)
Table 47 Europe: Instrument Transformers Market Size, By Enclosure Type, 2015–2022 (USD Million)
Table 48 Europe: Instrument Transformers Market Size, By Application, 2015–2022 (USD Million)
Table 49 Europe: Instrument Transformers Market Size, By End-User, 2015–2022 (USD Million)
Table 50 Germany: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 51 UK: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 52 France: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 53 Spain: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 54 Sweden: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 55 Norway: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 56 Russia: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 57 Rest of Europe: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 58 Asia Pacific: Instrument Transformers Market Size, By Country, 2015–2022 (USD Million)
Table 59 Asia-Pacific: Instrument Transformers Market Size, By Dielectric Medium, 2015–2022 (USD Million)
Table 60 Asia Pacific: Instrument Transformers Market Size, By Enclosure Type, 2015–2022 (USD Million)
Table 61 Asia Pacific: Instrument Transformers Market Size, By Application, 2015–2022 (USD Million)
Table 62 Asia Pacific: Instrument Transformers Market Size, By End-User, 2015–2022 (USD Million)
Table 63 China: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 64 India: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 65 Japan: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 66 South Korea: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 67 Australia: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 68 Rest of Asia Pacific: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 69 Middle East: Instrument Transformers Market Size, By Country, 2015–2022 (USD Million)
Table 70 Middle East: Instrument Transformers Market Size, By Dielectric Medium, 2015–2022 (USD Million)
Table 71 Middle East: Instrument Transformers Market Size, By Enclosure Type, 2015–2022 (USD Million)
Table 72 Middle East: Instrument Transformers Market Size, By Application, 2015–2022 (USD Million)
Table 73 Middle East: Instrument Transformers Market Size, By End-User, 2015–2022 (USD Million)
Table 74 Saudi Arabia: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 75 UAE: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 76 Qatar: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 77 Rest of the Middle East: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 78 South America: Instrument Transformers Market Size, By Country, 2015–2022 (USD Million)
Table 79 South America: Instrument Transformers Market Size, By Dielectric Medium, 2015–2022 (USD Million)
Table 80 South America: Instrument Transformers Market Size, By Enclosure Type, 2015–2022 (USD Million)
Table 81 South America: Instrument Transformers Market Size, By Application, 2015–2022 (USD Million)
Table 82 South America: Instrument Transformers Market Size, By End-User, 2015–2022 (USD Million)
Table 83 Brazil: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 84 Argentina: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 85 Chile: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 86 Rest of South America: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 87 Africa: Instrument Transformers Market Size, By Country, 2015–2022 (USD Million)
Table 88 Africa: Instrument Transformers Market Size, By Dielectric Medium, 2015–2022 (USD Million)
Table 89 Africa: Instrument Transformers Market Size, By Enclosure Type, 2015–2022 (USD Million)
Table 90 Africa: Instrument Transformers Market Size, By Application, 2015–2022 (USD Million)
Table 91 Africa: Instrument Transformers Market Size, By End-User, 2015–2022 (USD Million)
Table 92 South Africa: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 93 Kenya: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 94 Nigeria: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 95 Rest of Africa: Instrument Transformers Market Size, By Type, 2015–2022 (USD Million)
Table 96 Contracts & Agreements
Table 97 Investemnts & Expansions
Table 98 Mergers & Acquisitions
Table 99 Joint Ventures


List of Figures (48 Figures)

Figure 1 Market Segmentation: Instrument Transformers Market
Figure 2 Countries Covered
Figure 3 Research Design
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Asia Pacific Held the Largest Share of the Instrument Transformers Market in 2016
Figure 8 The Liquid Dielectric Segment is Expected to Dominate the Market During the Forecast Period
Figure 9 The Current Transformers Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 10 The Power Utilities Segment is Expected to Dominate the Instrument Transformers Market During the Forecast Period
Figure 11 The Transformer and Circuit Breaker Bushing Segment is Expected to Dominate the Instrument Transformers Market During the Forecast Period
Figure 12 The Distribution Voltage Segment is Expected to Dominate the Instrument Transformers During the Forecast Peri0d
Figure 13 Outdoor Segment is Expected to Dominate the Instrument Transformers Market During the Forecast Period
Figure 14 Rise in Alternative Energy Programs is Expected to Drive the Instrument Transformers Market During the Forecast Period
Figure 15 The Power Utilities End-User Segment & the Chinese Market Held the Maximum Share of the Instrument Transformers Market in Asia Pacific in 2016
Figure 16 US Held the Largest Share in 2016
Figure 17 The Current Transformers Segment is Expected to Dominate the Market During the Forecast Period
Figure 18 The Transformer & Circuit Breaker Bushing Segment is Expected to Lead the Instrument Transformers Market During the Forecast Period
Figure 19 The Liquid Dielectric Medium Segment is Expected to Lead the Instrument Transformers Market During the Forecast Period
Figure 20 Instrument Transformers: Drivers, Restraints, Opportunities, & Threats
Figure 21 Total Renewable Energy Capacity (2013-2015)
Figure 22 The Current Transformers Segment is Expected to Hold the Largest Market Size in 2022
Figure 23 Instrument Transformers With Liquid Dielectric Medium is Expected to Hold the Largest Market Size in 2022
Figure 24 Instrument Transformers for Distribution Voltage is Expected to Hold the Largest Market Size in 2022
Figure 25 Company Comparative Analysis at All Voltages
Figure 26 The Outdoor Instrument Transformers Segment is Expected to Hold the Larger Market Size in 2022
Figure 27 Transformer & Circuit Breaker Bushing Segment is Expected to Hold the Largest Market Size in 2022
Figure 28 Power Utilities Segment is Expected to Hold the Largest Market Size in 2022
Figure 29 Regional Snapshot: the Market in the Middle East is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 30 US Held the Largest Share of the Instrument Transformers Market in North America in 2016
Figure 31 Germany Held the Largest Share of the Instrument Transformers Market in Europe in 2016
Figure 32 China Holds the Largest Share of the Instrument Transformers Market in Asia Pacific in 2016
Figure 33 Asia Pacific: Market Snapshot
Figure 34 Saudi Arabia Held the Largest Share of the Instrument Transformers Market in the Middle East in 2016
Figure 35 Middle East: Instrument Transformers Market Snapshot (2017–2022)
Figure 36 Brazil Holds the Largest Share of the Instrument Transformers Market in South America in 2016
Figure 37 South Africa Held the Largest Share of the Instrument Transformers Market in Africa in 2016
Figure 38 Key Developments in the Instrument Transformers Market, 2014–2017
Figure 39 Market Ranking, 2016
Figure 40 ABB: Company Snapshot
Figure 41 GE: Company Snapshot
Figure 42 Mitsubishi Electric: Company Snapshot
Figure 43 Schneider Electric: Company Snapshot
Figure 44 Siemens: Company Snapshot
Figure 45 Arteche: Company Snapshot
Figure 46 BHEL: Company Snapshot
Figure 47 CG Power: Company Snapshot
Figure 48 Nissin Electric: Company Snapshot

The global instrument transformers market is projected to reach a market size of USD 9.06 Billion by 2022, growing at a CAGR of 4.35%, from an estimated USD 7.32 Billion in 2017. This growth can be attributed to the increasing power demand, increasing emphasis on alternative energy production across the globe, improving and evolving technologies, refurbishment of aging infrastructure, and investments in smart grids and energy systems across the globe.

The report segments the instrument transformers market, by end-user, into power transmission utilities, power distribution utilities, power generation, railways and metros, and industries and OEMs. The power distribution utilities segment is expected to grow at the highest CAGR during the forecast period. Power distribution utilities have jurisdiction over medium voltage and some part of the sub-transmission voltage of the grid infrastructure. These utilities take care of the operation, maintenance, and installation of the grid infrastructure along with the realization of the consumed electricity and energy efficiency projects. As per the IEA statistics, USD 24,234 billion investment is expected to be made between 2014 and 2035 on a net addition of 24.2 million kilometers of power distribution lines, with an additional investment of USD 31,700 billion on the refurbishment of the old grid infrastructure at the distribution voltage.

The instrument transformers market, by type, is segmented into current transformers, potential transformers, and combined instrument transformers. The current transformers segment is estimated to be the largest market for instrument transformers, by 2022.  Current transformers are used to measure the current in the electrical circuit with a magnitude of more than 5 A. These are regarded as transformers which operate under the short circuit condition and carries the full rated current of the electrical network on the primary side. The devices connected to the secondary side of current transformers are series-connected. The secondary side of current transformers has several secondary windings with mechanical cores of identical or different characteristics. A current transformer can have two measuring cores of different accuracy classes on its secondary side or can be designed with an identical accuracy class measuring and protection cores. The design of this equipment is purely based on the type of application required in the electrical circuit. Most current transformers connected to medium voltage electrical networks are three-phase, while single-phase current transformers are used for high voltage applications.

The instrument transformers market, by voltage, is segmented into distribution voltage, sub-transmission voltage, high voltage transmission, extra high voltage transmission, and ultra-high voltage transmission. The distribution voltage segment is estimated to be the fastest growing market for instrument transformers, from 2017 to 2022.  The distribution voltage is considered between 0.72 kV and 36 kV in this report. The main application of instrument transformers is to offer electrical protection against overload currents, insulation failure, and emergency switching for residential and commercial infrastructures. They also find application in protection of industrial equipment, such as generators, motors and compressors, HVAC and air-conditioning, heating and lighting equipment, step up transformer bushing, overload current protection, and electric arc protection in transmission and distribution sub-stations, along with the measurement of electrical parameters.

In this report, the instrument transformers market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa.

Instrument Transformers Market

The market in Asia Pacific is estimated to be the largest in the instrument transformers market, from 2017 to 2022. Factors such as increased power consumption, government initiatives to increase power generation capacity using renewable energy sources, and replacement of aging power plants are to drive the instrument transformers market in the region. The market in China is expected to be the fastest growing instrument transformers market during the forecast period. In November 2014, China set a target to increase its total energy generation from zero-emission sources (solar and wind) to 20%, by 2030 based on the China-US Joint Announcement on climate change and clean energy cooperation, consequently boosting the demand for the instrument transformers market.

Increasing competition from the unorganized sector and delays in grid expansion projects could act as restraints for the instrument transformers market, leading to a decline in profits. The players in the instrument transformers market provide services to developing and underdeveloped nations where the infrastructure is aging. The leading players in the instrument transformers market include ABB (Switzerland), GE (US), Siemens (Germany), Arteche (Spain), and PFIFFNER instrument transformers (Switzerland). Contracts & agreements was the most commonly adopted strategy by the top players. This was followed by new product launches, expansions and investments, and mergers & acquisitions.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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