Instrument Transformer Market Growth, Trends, and Forecast 2021-2026 – Exclusive Report by Mordor Intelligence

November 02 23:15 2021
Instrument Transformer Market Growth, Trends, and Forecast 2021-2026 - Exclusive Report by Mordor Intelligence
Mordor Intelligence
The Chinese government planned for global energy interconnection (GEI), for which the country is planning to invest USD 27 trillion by 2050, with nearly USD 7 trillion for power grid construction. GEI is an intercontinental transmission and distribution project, set to connect Eurasia’s power grids. The project is expected to boost the power grid equipment such as the instrument transformer market during the forecast period.

Key Highlights of the Instrument Transformer Market

  • The instrument transformer market is moderately fragmented. Some of the key players in the market include ABB Ltd, Siemens AG, General Electric Company, Schneider Electric SE, and others.
  • Power Africa, an initiative led by the United States, is planning to have 30 GW of electricity generation by 2030 and is expected to provide electricity to around 60 million homes in the remote areas of the Africa region. Such a step is likely to create ample opportunity for the instrument transformer companies to expand their business in the near future.
  • Upcoming transmission projects such as Atlantic Wind Connection is one of the most prominent projects globally that is estimated to have an investment of around USD 5 billion and is likely to power two million homes in southern Virginia. Thus, such investment is expected to grow the instrument transformer market in the coming years.

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Instrument Transformer Market Overview

The instrument transformer market is expected to grow at a CAGR of more than 3.5% during the forecast period of 2020-2025. Instrument transformers provide electrical isolation in between high voltage power circuits and measuring instruments that reduce the electrical insulation requirement for measuring devices and protective circuits and assure the safety of operators. Factors such as expansion in the transmission and distribution network and growth in the renewable power generation facilities are likely to drive the market. With the rapid expansion in the power grid network across emerging energy markets, it is expected that the power utility segment is likely to dominate the market during the forecast period.

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Instrument Transformer Market – Geographical Overview 

Asia-Pacific is likely to witness significant growth during the forecast period

The factors that contribute to the growth of the instrument transformer market include the expansion and up-gradation of existing power and distribution infrastructure, with modernizing measuring and monitoring equipment. With the increasing electricity demand and growing air pollution, governments are concentrating more on having renewable energy. The region has a significant number of upcoming solar, hydro, and wind projects that are likely to have various transmission lines and would help expand the instrument transformer market during the coming years.

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List of Key Players in the Instrument Transformer Market

  • ABB Ltd
  • Siemens AG,
  • General Electric Company
  • Schneider Electric SE
  • Arteche Group
  • PFIFFNER Instrument Transformers Ltd
  • Crompton Greaves Ltd
  • Mitsubishi Electric Corporation
  • Amran Inc
  • Instrument Transformers

*List Not Exhaustive 

Mordor Intelligence has segmented the global instrument transformer market on the basis of type, end-user industry, and geography:

  • Type (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Current Transformers
    • Potential Transformers
  • End-user Industry (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Power Utilities
    • Industrial Sector
    • Others
  • Geography (Market Size & Forecast based on Revenue (USD million), 2016-2026)
    • Asia-Pacific
    • North America
    • Europe
    • South America
    • Middle-East and Africa

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