ABB (Switzerland) and GE (US) are the Major Players in the Instrument Transformers Market
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%. The market in Asia Pacific is estimated to be the largest for instrument transformers, followed by the European market in 2017. This trend is expected to continue till 2022. The growth of the instrument transformers market is driven by the refurbishment of aging power infrastructure, increasing emphasis on alternative energy production across the globe, and huge investments in smart grids and energy systems.
The instrument transformers market is dominated by a few major players that have a wide regional presence and are established brand names. The leading integrated solution providers in the instrument transformers market include ABB (Switzerland), GE (US), Siemens (Germany), Schneider Electric (France), Ritz Instrument Transformers (Germany), Mitsubishi Electric (Japan), Arteche (Spain), and PFIFFNER Instrument Transformers (Switzerland).
The major strategies adopted by the players include contracts & agreements, new product launches, expansions and investments, mergers & acquisitions, and joint ventures and collaborations. Contracts & agreements was the most commonly adopted strategy from January 2014 to October 2017. Industry players also adopted investments and expansions, which was the second most widely followed strategy, during the same period. A few key integrated solution providers have been highlighted in the section below.
ABB is a leading power and automation technology company that offers a wide range of products, services, and systems. It operates in four business segments, namely, power grids, electrification products, discrete automation and motion, and process automation. The company manufactures instrument transformers through its power grids segment, which accounted for 31% of the company’s total net sales in 2016. This segment serves utilities and the owners and operators of transmission and distribution networks along with the industrial, transportation, and infrastructure customers. In October 2017, ABB received a contract from EDF Energy to build the power transmission infrastructure for the Hinkley Point C power plant in Somerset, England. The scope of the project is to supply six 700 MVA generator transformers, six auxiliary transformers, a 400 kV gas insulated switchgear, and control and MicroScada systems. The power plant is expected to generate 7% of Britain's electricity.
GE is one of the leading technology and financial services companies that manufactures products for the generation, transmission and distribution, control, and utilization of electricity. It is transforming the industry with software-defined machines and solutions. Since its inception, the company has adopted inorganic growth strategies to broaden its business and improve the scope of activities. It has its presence in approximately 180 countries, with 206 manufacturing plants located in 40 states in the US and Puerto Rico and 295 manufacturing plants located in 39 other countries. The company provides instrument transformers through its power business segment, serving several end-use industries such as power generation, industrial, government, and other customers worldwide. In October 2017, GE received the Champa Kurukshetra HVDC link contract from the Power Grid Corporation of India. The scope of the contract is to provide reliable, safe, and efficient access to energy in Northern India. It is the first link in India to transmit 3000 MW of power through HVDC. The project covers 1,287 km energy highway, transporting electricity from Champa in the Central Eastern region of India to Kurukshetra in the North.
Related 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
Contact:
Mr. Rohan
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
