According to TechSci Research, Global instrument transformers market stood at more than $ 7.9 billion in 2019 and is forecast to grow at a CAGR of over 5% during 2021-2026, owing to increasing demand for power, rising emphasis on alternative energy production, improving and evolving technologies, refurbishment of aging infrastructure, and investments in smart grids and energy systems. Instrument transformers are high accuracy class electrical devices used to isolate or transform voltage or current levels. Moreover, growing investments in transmission & distribution infrastructure and massive investments in smart grids and energy systems, globally, would further drive global instrument transformers market during the forecast period.
In terms of dielectric medium, global instrument transformers market has been categorized into liquid, SF6 gas & solid dielectric medium. Of these types, the liquid dielectric medium category is expected to account for a significant market portion in coming years, backed by its application in electrical circuit, as it is mostly used to measure more than 5 A magnitude of electrical circuit.
Asia-Pacific instrument transformers market accounted for a significant portion of the global market for instrument transformers in 2020 and is expected to register strong growth during forecast period as well, on the back of increasing investments in grid expansion projects by developing nations such as China and India to boost their distribution grid reliability. Among the countries in the region, China was the largest market for instrument transformers in 2020. China has the highest installed power generation and distribution capacities, which is turn is resulting in huge demand for instrument transformers.
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Global instrument transformers market is characterized by a diverse group of regional and international manufacturers. The market for instrument transformers is moderately fragmented in nature. There is very minimal product differentiation which induces vendors to retain their market shares by pricing their products and services competitively. Additionally, established international vendors face intense competition form the regional vendors who provide customers with comparatively low-priced and customized products. Some of the major companies operating in global instrument transformers market are Siemens AG, General Electric Company, ABB Ltd, Arteche Lantegi Elkartea SA, KONČAR – Elektroindustrija d.d., PFIFFNER Messwandler AG, etc.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To analyze and forecast global instrument transformers market size.
- To forecast global instrument transformers market based on dielectric medium, voltage, application, end use industry and regional distribution.
- To identify drivers and challenges for global instrument transformers market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global instrument transformers market.
- To conduct the pricing analysis for global instrument transformers market.
- To identify and analyze the profile of leading players operating in global instrument transformers market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of instrument transformer manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research calculated global instrument transformers market size using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
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Key Target Audience:
- Instrument transformer manufacturers and other stakeholders
- Instrument transformers end user industries
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to instrument transformers market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
Report Scope:
In this report, global instrument transformers market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Dielectric Medium
- Liquid Dielectric Instrument Transformers
- SF6 Gas Dielectric Instrument Transformers
- Solid Dielectric Instrument Transformers
- Market, by Voltage
- 0-250 kV
- 251-500 kV
- Above 500 kV
- Market, by Application
- Switchgear Assemblies
- Relaying
- Metering & Protection
- Others
- Market, by End Use Industry
- Power Distribution
- Power Transmission
- Industries & OEMs
- Others
- Market, by Region
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Thailand
- Malaysia
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Iran
- Asia-Pacific
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global instrument transformers market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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