Instrument Transformers Market, By Type (Current Transformer, Potential Transformer, and Combined In

Published Date: August 2020 | Report Code : EP2062268

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Instrument Transformers Market, By Type (Current Transformer, Potential Transformer, and Combined Instrument Transformers), By Dielectric Medium (Solid, Liquid, Gas), By Enclosure Type (Indoor, Outdoor), By Voltage (1kv-32kv, 32kv-100kv, 101kv-250kv, 251kv-500kv, 501kv-800kv,Above 801kv) By Application (Transformer And Circuit Breaker Bushing, Switchgear Assemblies, Relaying, Metering And Protection) By End User (Power Utilities, Power Generation, Railways And Metros, Industries And OEMs) By Transformer Type (Conventional, Non-Conventional) By Region (North America, Europe, Asia Pacific, Middle East, and the South America) – Market Size & Forecasting To 2028

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Energy

Report Code : EP2062268

Status : Published August 2020

Instrument Transformer is an electrical device which is a type of special transformer used in AC system for the measurement of electrical quantities such as energy, power factor, current, voltage and others. The most basic function of instrument transformer is to step down the system voltage and current levels. The instrument transformer can measure the large current and voltage levels in the AC power systems. It also provides electrical isolation between the measuring instrument and high voltage power circuits.

The rising power demand, growing investments in smart grids, and increasing demand for electrical protection devices against overvoltage’s is expected to drive the global instrument transformer market during the forecast period. The report covers various regions including North America, Asia-Pacific, Europe, the Middle East & Africa and South America. Among these, the major countries contributing a significant market share and showing high adoption of instrument transformer includes China, US, Germany and India among others. China has targeted to grow its energy generation form wind and solar by 2030 which is expected to consequently fuel the demand of instrument transformer in the country.

INSTRUMENT TRANSFORMER MARKET BY DROC 2020 & 2028FIG 1: INSTRUMENT TRANSFORMER MARKET DROC 2020 & 2028

The global Instrument Transformer market size is estimated to be USD 8335.5 million in 2020 and is projected to register a CAGR of 4.7% to reach USD 12004.7 million by 2028. The growing investments by major player including CG Power and Industrial Solutions Limited, ABB Limited, Siemens AG, and General Electric among others is driving the high adoption of Instrument Transformer globally. The market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa and South America. Among these, the Asia-Pacific is expected to contribute a higher market share in 2019 rapid urbanization along with rising government efforts towards increasing rural electrification in developed countries across the APAC region. Increasing financial support by the government across the developing and underdeveloped countries towards the development of efficient energy supply to remote areas in the region is anticipated to showcase potential growth for the APAC instrument transformer market in the coming years.

FIG 1 INSTRUMENT TRANSFORMER MARKET BY TYPE 2020 & 2028FIG 2: INSTRUMENT TRANSFORMER MARKET: BY TYPE 2020 & 2028

Based on type, the global Instrument Transformer market has been segmented into current transformer, potential transformer, and combined instrument transformer. The current transformer is projected to dominate the market owing to growing industrial development and commercialization in the developing countries. The current transformer provides constant current and generates an alternating current through its secondary winding. Current transformers minimize high voltage current to a safe level and provide a convenient way to monitor current flow through an ammeter. It has various applications that include revenue metering, measure grid signal, relay protection, protection and control, power quality, and monitoring for outdoor applications. Growing deployment in smart grid and smart transformer, and the replacement of existing aged power transformers are expected to propel the demand for potential transformers in the market. Combined instrument transformers segment is expected to gain significant growth throughout the forecast period owing to its excellent properties such as excellent frequency response, excellent response under extreme weather conditions for substation and high voltage

FIG 2 INSTRUMENT TRANSFORMER MARKET BY DIELECTRIC MEDIUM 2020 & 2028FIG 3: INSTRUMENT TRANSFORMER MARKET: BY DIELECTRIC MEDIUM 2020 & 2028

Based on dielectric medium, the global instrument transformer market has been segmented into solid, liquid, and gas.

Solid dielectrics are good insulators and good supporters of electrostatic fields. These properties make them invaluable in transformers and capacitors. Cellulose paper and resin impregnated paper are commonly used solid insulating materials. Instrument transformers consist of high dielectric strength and are used for the protection, monitoring, and control of power grid operations. They are used for protective relaying purposes and protection of the system, as well as for the economic management of industrial loads. Rising competitive dominance coupled with increased awareness of end-users has positively affected the solid insulated instrument transformer market in the coming years.

FIG 3 INSTRUMENT TRANSFORMER MARKET BY ENCLOSURE TYPE 2020 & 2028FIG 4: INSTRUMENT TRANSFORMER MARKET: BY ENCLOSURE TYPE 2020 & 2028

Based on voltage, the Instrument Transformer market has been segmented into 1kV-32kV, 32kV-100kV, 101kV-250kV, 251kV-500kV, 501kV-800kV, and Above 801kV. The increasing demand of ultra-high voltage transmission lines for high power transmission in recent years over distances more than 1000km has driven the need of instrument transformers above voltage range 801KV. Cross border electrical transmission, reliability and stability of power grids have driven an overall investment within ultra-high voltage instrument transformer of voltage range above 801KV. ABB developed and tested the world ‘s first 1,100kV UHVDC instrument transformer prototype, in June 2012. Moreover, it will extend the transmission distance from around 2,000 kilometers (km) to over 3,000 km and play a key role in joining remote locations on a large scale which in turn is expected to fuel the market growth of instrument transformer above 801KV. Use of ultra-high-voltage transmission technology is as of now being utilized in many nations such as China. For instance, in 2016, ABB acquired a tender of 1100 kV Changji-Guquan UHVDC link in China. The link will transmit electricity from the Xinjiang region in the Northwest, to Anhui province in eastern China.

FIG 4 INSTRUMENT TRANSFORMER MARKET  BY VOLTAGE 2020 & 2028FIG 5: INSTRUMENT TRANSFORMER MARKET:  BY VOLTAGE 2020 & 2028

Based on application, the global instrument transformer market has been segmented into transformer and circuit breaker bushing, switchgear assemblies, relaying, and metering and protection. Instrument transformers isolate measurement and protection circuits from the high voltage of the primary system. It provides a secondary current that is accurately proportional to the current flowing through its primary winding. Increasing digitalization of grid infrastructure along with the growing deployment of distributed power generation systems stimulates the use of metering and protection unit which in turn is expected to fuel the demand for instrument transformers in the year to come. In addition, government support and regulation toward the adoption of metering and protection unit will further increase its use across the globe. Furthermore, the use of metering and protection unit in on-going rapid industrialization projects along with growing urban population on account of improvement in standard of living and increasing per capita energy consumption across the emerging economies is expected to further boost the growth of instrument transformer market.

FIG 5 INSTRUMENT TRANSFORMER MARKET BY APPLICATION 2020 & 2028FIG 6: INSTRUMENT TRANSFORMER MARKET: BY APPLICATION 2020 & 2028

Based on end user, the global instrument transformer market has been segmented into power utilities, power generation, railways and metros, and industries and OEMs. Instrument transformers is a component of power system which ensures the system protection with scaled-down replicas of current and voltage signals present in a power network. The adoption of smart meter to start two-way communications between Power utility company and customer is expected to further drive the market growth in forecast period. Moreover, the adoption of smart grids is expected to develop in the near future. Smart grid encourages the remote access monitoring of network instruments and respond to fluctuating electricity power demand immediately. Instrument transformers are progressively being utilized as an important segment of smart grid projects due to their advantages; as it can regulate the voltage constantly while maintaining contact with the smart grid infrastructure, delivers the optimal amount of power whenever required and act on any power fluctuations instantly.

FIG 6 INSTRUMENT TRANSFORMER MARKET BY END USER 2020 & 2028FIG 7: INSTRUMENT TRANSFORMER MARKET: BY END USER 2020 & 2028

Based on transformer type, the global instrument transformer market has been segmented into conventional, and non-conventional. A conventional transformer is a static machine which transfers electrical energy from one end to other without changing frequency but at different voltage. Growing rural electrification demand across Africa & Asia Pacific favored by rising fund flow by financial organizations including the Asian Development Bank (ADB) and World Bank is driving the growth of conventional instrument transformer market in the near future. Refurbishment of transmission and distribution network, substation coupled with power substations across warfare nations including Sudan, Syria and Iraq will further augment the industry growth in the forecast period. In addition, growing energy demand across the residential and commercial accompanied with rise in population across the globe, is expected to create a fruitful market demand for the conventional type instrument transformer. However, high capital cost of transformer and reluctance among the utility authority to replace aging infrastructure can restrain the growth of the market.

FIG 7 INSTRUMENT TRANSFORMER MARKET BY TRANSFORMER TYPE 2020 & 2028FIG 8: INSTRUMENT TRANSFORMER MARKET: BY TRANSFORMER TYPE 2020 & 2028

On the basis of the region, the Instrument Transformer market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific instrument transformer market is expected to register growth in revenues in the near future owing to rapid urbanization along with rising government efforts towards increasing rural electrification in developed countries across the APAC region. Increasing financial support by the government across the developing and underdeveloped countries towards the development of efficient energy supply to remote areas in the region is anticipated to showcase potential growth for the APAC instrument transformer market in the coming years.

FIG 8 INSTRUMENT TRANSFORMER MARKET BY REGION 2017-2028FIG 9: INSTRUMENT TRANSFORMER MARKET: BY REGION 2017-2028

According to the QMI research report, the China instrument transformer market is expected to dominate the overall APAC instrument transformer market owing to substantial power demand in the country. Furthermore, India and Indonesia instrument transformer markets are expected to witness potential growth in the coming years owing to increased government involvement in order to increase energy efficiency in these countries. Based on applications, the power utilities segment of the APAC instrument transformer market is expected to witness high growth in the forecast period owing to increased electricity consumption in households coupled with industrial energy consumption.

FIG 9 INSTRUMENT TRANSFORMER MARKET BY SEGMENTATION 2020 & 2028FIG 10: INSTRUMENT TRANSFORMER MARKET SEGMENTATION 2020 & 2028

Major Companies:  ABB, General Electric, Mitsubishi Electric Corporation, Schneider Electric, Siemens Ag, Arteche, Bharat Heavy Electricals Limited, CG Power And Industrial Solutions Limited, Nissin Electric Co., Ltd., Indian Transformers Company Ltd., Instrument Transformer Equipment Corporation, Koncar Group, Pfiffner Group, Ritz Instrument Transformers GMBH, MAKSRL, Sieyuan Electric Co., Ltd., China Xd Group Co., Ltd., Shandong Taikai Power Engineering Co., Ltd.

Market Segmentation:

By Type:

  • Current Transformer
  • Potential Transformer
  • Combined Instrument Transformers

By Dielectric Medium:

  • Solid
  • Liquid
  • Gas

By Enclosure Type:

  • Indoor
  • Outdoor

By Voltage:

  • 1kv-32kv
  • 32kv-100kv
  • 101kv-250kv
  • 251kv-500kv
  • 501kv-800kv
  • Above 801kv

By Application:

  • Transformer And Circuit Breaker Bushing
  • Switchgear Assemblies
  • Relaying
  • Metering And Protection

By End User:

  • Power Utilities
  • Power Generation
  • Railways And Metros
  • Industries And OEMs

By Transformer Type:

  • Conventional
  • Non-Conventional

By Region:

  • North America Instrument Transformers Market
    • By Country (US, Canada, Mexico)
    • By Type
    • By Dielectric Medium
    • By Enclosure Type
    • By Voltage
    • By Application
    • By End User
    • By Transformer Type
  • Europe Instrument Transformers Market
    • By Country (Germany, Russia, UK, France, Italy, Spain, Netherlands Rest of Europe)
    • By Type
    • By Dielectric Medium
    • By Enclosure Type
    • By Voltage
    • By Application
    • By End User
    • By Transformer Type
  • Asia Pacifi Instrument Transformers Market
    • By Country (China, Japan, India, South Korea, Australia, Taiwan, Malaysia, Rest of Asia Pacific)
    • By Type
    • By Dielectric Medium
    • By Enclosure Type
    • By Voltage
    • By Application
    • By End User
    • By Transformer Type
  • Middle East & Africa Instrument Transformers Market
    • By Country (UAE, Saudi Arabia, Qatar, Turkey, South Africa, Rest of Middle East & Africa)
    • By Type
    • By Dielectric Medium
    • By Enclosure Type
    • By Voltage
    • By Application
    • By End User
    • By Transformer Type
  • South Americ Instrument Transformers Market
    • By Region (Brazil, Argentina, Rest Of South America)
    • By Type
    • By Dielectric Medium
    • By Enclosure Type
    • By Voltage
    • By Application
    • By End User
    • By Transformer Type
    • By Application

Objectives of this report:

  • To estimate the market size for instrument transformers market on a regional and global basis.
  • To identify major segments in the instrument transformers market and evaluate their market shares and demand.
  • To provide a competitive scenario for the instrument transformers market with major developments observed by key companies in the historic years.
  • To evaluate key factors governing the dynamics of the instrument transformers market with their potential gravity during the forecast period.

Reasons to Buy This Report:

  • Provides niche insights for a decision about every possible segment helping in the strategic decision making process.
  • Market size estimation of the instrument transformers market on a regional and global basis.
  • A unique research design for market size estimation and forecast.
  • Identification of major companies operating in the market with related developments
  • Exhaustive scope to cover all the possible segments helping every stakeholder in the instrument transformers market.

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This study is customized to meet your specific requirements:

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  • By Region/Country
  • Product Specific Competitive Analysis

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