New York, United States, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The Instrument Transformer Market is severely affected due to COVID-19 and its reliability on upstream and downstream industries, the supply of raw materials, and the delay in components. Many companies are waiting for the resumption of work, causing a short-term concern on the market. Once the situation normalizes, companies will be focusing on increasing the production capacity and the means to recover the lost time.
The growing demand for sunrise industries is a key driver for the electricity demand and instrument transformers. North America and Europe account for a large number of industries and original equipment manufacturers (OEMs). In the last three decades, the industrial sector of these economies has observed a rapid growth in terms of output, labor productivity, and total factor productivity. Thus, the demand for energy across the industrial sector of these economies has also augmented. The growing energy demand has further increased these economies’ dependency on electricity, and this trend is expected to remain unchanged in the forthcoming years.
Due to multiple huge and medium competitors in regional markets, the global instrument transformer market seems highly fragmented and competitive. Product Release, Collaboration and Agreement, Acquisition, and Growth are the primary tactics deduced from an analysis of current developments of the leading companies.
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Covid-19 Impact:
The market dynamics, competitors, and global supply chain have all been influenced by Covid-19. Revenues fell in 2020 and are expected to rise steadily beginning in 2021. Companies that optimize their operations and strategy will be able to compete and outperform their competitors.
To capitalize on opportunities, vendors should concentrate on fast-growing areas while retaining their positions in slow-growing ones. Furthermore, the instrument transformer market provides well-structured marketing tactics to offset any unfavorable post-COVID-19 effect on each product and service area.
Report Scope
| Report Metric | Details |
| Market Size | USD 13.02 Billion by 2030 |
| CAGR | 6.4% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types, Applications, Dielectric Mediums, Voltage, End-Users, Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | ABB India Ltd, Siemens India, General Electric Company, Arteche Smartgrid India Private Limited, Schneider Electric India Pvt. Ltd, PFIFFNER Instrument Transformers Pvt. Ltd., Mitsubishi Electric India Pvt. Ltd. |
| Key Market Opportunities | They are used in conjunction with protection devices to safeguard the power system |
| Key Market Drivers | Rising Electricity Demand Drives the Global Instrument Transformer Market |
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Regional Insights:
Increased competition from the unorganized sector, and delays in grid expansion projects, might serve as limitations on the instrument transformers industry, causing earnings to fall. The market participants give services to emerging and countries in need whose infrastructure is aging. ABB (Switzerland), GE (US), Siemens (Germany), Arteche (Spain), and PFIFFNER instrument transformers are the market leaders (Switzerland). Contracts and agreements were the most commonly used.
Key Highlights:
- The global instrument transformer market size was valued at USD 7.45 billion in 2021 and is projected to reach USD 13.02 billion by 2030, growing at a CAGR of 6.4% from 2021–2030.
- The post-pandemic market analysis analyzed consumer behavior shifts and identified and evaluated emerging trends and drivers that vendors may capitalize on to encourage prompt business decisions.
- In the present instrument transformer market landscape, power producers and power distribution enterprises hold a dominant position.
- In 2020, Asia-Pacific was the leading region in the instrument transformers market, followed by Europe. The report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
- Businesses are spending on innovation/R&D, promotional strategies, and establishing strong connections with customers to strengthen their competitive position in production and sales.
- Siemens AG, a German business, paid USD 285.4 million in March 2021 and acquired C&S Electric Limited. Siemens AG entered the competitive infrastructure low-voltage market in India and thus established a manufacturing base for low-voltage goods for export to global markets. C&S Electric Limited, situated in India, manufactures electrical equipment.
- Upcoming transmission projects, such as the Atlantic Wind Connection, are among the most notable, with an anticipated expenditure of over USD 5 billion and the potential to power two million households in southern Virginia. As a result of such an investment, the instrument transformer market is predicted to increase in the future years.
List of Key Players
- ABB India Ltd.
- Siemens India
- General Electric Company
- Arteche Smartgrid India Private Limited
- Schneider Electric India Pvt. Ltd
- PFIFFNER Instrument Transformers Pvt. Ltd.
- Mitsubishi Electric India Pvt. Ltd.
- Eaton Technologies Pvt. Ltd.
- Bharat Heavy Electricals Limited
- CG Power and Industrial Solutions Ltd
Instrument Transformer Market: Segmentation
By Types:
- Current Transformers
- Potential Transformers
- Combined Instrument Transformers
By Applications:
- Transformer and Circuit Breaker Bushing
- Switchgear Assemblies
- Relaying
- Metering and Protection
By Dielectric Mediums:
- Liquid Dielectric Instrument Transformers
- SF6 Gas Dielectric Instrument Transformers
- Solid Dielectric Instrument Transformers
By Voltages:
- Distribution Voltage
- Sub-Transmission Voltage
- High Voltage Transmission
- Extra-High Voltage Transmission
- Ultra-High Voltage Transmission
By Enclosure-Type:
- Indoor Instrument Transformers
- Outdoor Instrument Transformers
By End-Users:
- Power Utilities
- Power Generation
- Railways and Metros
- Industries and OEMs
By Regions:
- North America
- Latin America
- Europe
- Asia-Pacific
- The Middle-East and Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions and Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation and Scope
4.2 Key Market Trends
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porter’s Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of Substitution
4.3.4 Threat of New Entrants
4.3.5 Competitive Rivalry
4.4 Environment and Regulatory Landscape
4.5 Macro-Economic and Geopolitical Scenario
4.6 Parent Market Overview
4.7 Technology Landscape
4.8 Potential Venture Analysis
5 Type Overview
5.1 Introduction
5.1.1 Market Size and Forecast (Value)
5.2 Current Transformers
5.2.1 Market Size and Forecast (Value)
5.3 Potential Transformers
5.3.1 Market Size and Forecast (Value)
6 Application Overview
6.1 Introduction
6.1.1 Market Size and Forecast (Value)
6.2 Transformer and Circuit Breaker Bushing
6.2.1 Market Size and Forecast (Value)
6.3 Switchgear Assemblies
6.3.1 Market Size and Forecast (Value)
6.4 Relaying
6.4.1 Market Size and Forecast (Value)
6.5 Metering and Protection
6.5.1 Market Size and Forecast (Value)
7 Dielectric Medium Overview
7.1 Introduction
7.1.1 Market Size and Forecast (Value)
7.2 Liquid Dielectric Instrument Transformers
7.2.1 Market Size and Forecast (Value)
7.3 SF6 Gas Dielectric Instrument Transformers
7.3.1 Market Size and Forecast (Value)
7.4 Solid Dielectric Instrument Transformers
7.4.1 Market Size and Forecast (Value)
8 Voltage Overview
8.1 Distribution Voltage
8.1.1 Market Size and Forecast (Value)
8.2 Sub-Transmission Voltage
8.2.1 Market Size and Forecast (Value)
8.3 High Voltage Transmission
8.3.1 Market Size and Forecast (Value)
8.4 Extra High Voltage Transmission
8.4.1 Market Size and Forecast (Value)
8.5 Ultra Voltage Transmission
8.5.1 Market Size and Forecast (Value)
8.6 Others
8.6.1 Market Size and Forecast (Value)
9 Enclosure Type Overview
9.1 Indoor Instrument Transformers
9.1.1 Market Size and Forecast (Value)
9.2 Outdoor Instrument Transformers
9.2.1 Market Size and Forecast (Value)
10 End-User Overview
10.1 Power Utilities
10.1.1 Market Size and Forecast (Value)
10.2 Power generation
10.2.1 Market Size and Forecast (Value)
10.3 Railways and Metros
10.3.1 Market Size and Forecast (Value)
10.4 Industries and OEMs
10.4.1 Market Size and Forecast (Value)
10.5 Others
10.5.1 Market Size and Forecast (Value)
11 Regional Overview
11.1 Introduction
11.1.1 Market Size and Forecast (Value)
11.2 North America
11.2.1 Economic Overview
11.2.2 Market Scenario
11.2.3 The U.S.
11.2.3.1 By Type
11.2.3.2 By Application
11.2.3.3 By Dielectric Medium
11.2.3.4 By Voltage
11.2.3.5 By Enclosure-Type
11.2.3.6 By End-user
11.2.4 Canada
11.2.4.1 By Type
11.2.4.2 By Application
11.2.4.3 By Dielectric Medium
11.2.4.4 By Voltage
11.2.4.5 By Enclosure-Type
11.2.4.6 By End-user
11.3 Latin America (LATAM)
11.3.1 Economic Overview
11.3.2 Market Scenario
11.3.3 Mexico
11.3.3.1 By Type
11.3.3.2 By Application
11.3.3.3 By Dielectric Medium
11.3.3.4 By Voltage
11.3.3.5 By Enclosure-Type
11.3.3.6 By End-user
11.3.4 Brazil
11.3.4.1 By Type
11.3.4.2 By Application
11.3.4.3 By Dielectric Medium
11.3.4.4 By Voltage
11.3.4.5 By Enclosure-Type
11.3.4.6 By End-user
11.3.5 Argentina
11.3.5.1 By Type
11.3.5.2 By Application
11.3.5.3 By Dielectric Medium
11.3.5.4 By Voltage
11.3.5.5 By Enclosure-Type
11.3.5.6 By End-user
11.3.6 Rest of LATAM
11.3.6.1 By Type
11.3.6.2 By Application
11.3.6.3 By Dielectric Medium
11.3.6.4 By Voltage
11.3.6.5 By Enclosure-Type
11.3.6.6 By End-user
11.4 Europe
11.4.1 Economic Overview
11.4.2 Market Scenario
11.4.3 Germany
11.4.3.1 By Type
11.4.3.2 By Application
11.4.3.3 By Dielectric Medium
11.4.3.4 By Voltage
11.4.3.5 By Enclosure-Type
11.4.3.6 By End-user
11.4.4 France
11.4.4.1 By Type
11.4.4.2 By Application
11.4.4.3 By Dielectric Medium
11.4.4.4 By Voltage
11.4.4.5 By Enclosure-Type
11.4.4.6 By End-user
11.4.5 The U.K.
11.4.5.1 By Type
11.4.5.2 By Application
11.4.5.3 By Dielectric Medium
11.4.5.4 By Voltage
11.4.5.5 By Enclosure-Type
11.4.5.6 By End-user
11.4.6 Italy
11.4.6.1 By Type
11.4.6.2 By Application
11.4.6.3 By Dielectric Medium
11.4.6.4 By Voltage
11.4.6.5 By Enclosure-Type
11.4.6.6 By End-user
11.4.7 Spain
11.4.7.1 By Type
11.4.7.2 By Application
11.4.7.3 By Dielectric Medium
11.4.7.4 By Voltage
11.4.7.5 By Enclosure-Type
11.4.7.6 By End-user
11.4.8 The Rest of Europe
11.4.8.1 By Type
11.4.8.2 By Application
11.4.8.3 By Dielectric Medium
11.4.8.4 By Voltage
11.4.8.5 By Enclosure-Type
11.4.8.6 By End-user
11.5 Asia-Pacific (APAC)
11.5.1 Economic Overview
11.5.2 Market Scenario
11.5.3 China
11.5.3.1 By Type
11.5.3.2 By Application
11.5.3.3 By Dielectric Medium
11.5.3.4 By Voltage
11.5.3.5 By Enclosure-Type
11.5.3.6 By End-user
11.5.4 Japan
11.5.4.1 By Type
11.5.4.2 By Application
11.5.4.3 By Dielectric Medium
11.5.4.4 By Voltage
11.5.4.5 By Enclosure-Type
11.5.4.6 By End-user
11.5.5 India
11.5.5.1 By Type
11.5.5.2 By Application
11.5.5.3 By Dielectric Medium
11.5.5.4 By Voltage
11.5.5.5 By Enclosure-Type
11.5.5.6 By End-user
11.5.6 Australia
11.5.6.1 By Type
11.5.6.2 By Application
11.5.6.3 By Dielectric Medium
11.5.6.4 By Voltage
11.5.6.5 By Enclosure-Type
11.5.6.6 By End-user
11.5.7 South Korea
11.5.7.1 By Type
11.5.7.2 By Application
11.5.7.3 By Dielectric Medium
11.5.7.4 By Voltage
11.5.7.5 By Enclosure-Type
11.5.7.6 By End-user
11.5.8 Rest of APAC
11.5.8.1 By Type
11.5.8.2 By Application
11.5.8.3 By Dielectric Medium
11.5.8.4 By Voltage
11.5.8.5 By Enclosure-Type
11.5.8.6 By End-user
11.6 The Middle East and Africa
11.6.1 Economic Overview
11.6.2 Market Scenario
11.6.3 GCC
11.6.3.1 By Type
11.6.3.2 By Application
11.6.3.3 By Dielectric Medium
11.6.3.4 By Voltage
11.6.3.5 By Enclosure-Type
11.6.3.6 By End-user
11.6.4 South Africa
11.6.4.1 By Type
11.6.4.2 By Application
11.6.4.3 By Dielectric Medium
11.6.4.4 By Voltage
11.6.4.5 By Enclosure-Type
11.6.4.6 By End-user
11.6.5 The Rest of the Middle East
11.6.5.1 By Type
11.6.5.2 By Application
11.6.5.3 By Dielectric Medium
11.6.5.4 By Voltage
11.6.5.5 By Enclosure-Type
11.6.5.6 By End-user
12 Competitive Landscape — Manufacturers and Suppliers
12.1 Competition Dashboard
12.2 Market Share Analysis
13 Company Profiles
13.1 ABB India Ltd.
13.1.1 Business Overview
13.1.2 Financial Performance
13.1.3 Recent Developments
13.1.4 Product Portfolio
13.2 Siemens India
13.2.1 Business Overview
13.2.2 Financial Performance
13.2.3 Recent Developments
13.2.4 Product Portfolio
13.3 General Electric Company
13.3.1 Business Overview
13.3.2 Financial Performance
13.3.3 Recent Developments
13.3.4 Product Portfolio
13.4 Arteche Smartgrid India Private Limited
13.4.1 Business Overview
13.4.2 Financial Performance
13.4.3 Recent Developments
13.4.4 Product Portfolio
13.5 Schneider Electric India Pvt. Ltd.
13.5.1 Business Overview
13.5.2 Financial Performance
13.5.3 Recent Developments
13.5.4 Product Portfolio
13.6 PFIFFNER Instrument Transformers Pvt. Ltd.
13.6.1 Business Overview
13.6.2 Financial Performance
13.6.3 Recent Developments
13.6.4 Product Portfolio
13.7 PFIFFNER Instrument Transformers Pvt. Ltd.
13.7.1 Business Overview
13.7.2 Financial Performance
13.7.3 Recent Developments
13.7.4 Product Portfolio
13.8 Mitsubishi Electric India Pvt. Ltd.
13.8.1 Business Overview
13.8.2 Financial Performance
13.8.3 Recent Developments
13.8.4 Product Portfolio
13.9 Eaton Technologies Pvt. Ltd.
13.9.1 Business Overview
13.9.2 Financial Performance
13.9.3 Recent Developments
13.9.4 Product Portfolio
13.10 Bharat Heavy Electricals Limited
13.10.1 Business Overview
13.10.2 Financial Performance
13.10.3 Recent Developments
13.10.4 Product Portfolio
13.11 CG Power and Industrial Solutions Ltd
13.11.1 Business Overview
13.11.2 Financial Performance
13.11.3 Recent Developments
13.11.4 Product Portfolio
13.12 Others
13.12.1 Business Overview
13.12.2 Financial Performance
13.12.3 Recent Developments
13.12.4 Product Portfolio
14 Conclusion and Recommendation
15 Acronyms and Abbreviations
Table of Content and Figure https://straitsresearch.com/report/instrument-transformer-market/toc
Market News:
Electricity demand is forecasted to increase further due to the rise in family incomes, electrification of transportation and heating, and growing demand for digitally linked gadgets and air conditioning. Instrument transformers are specialized transformers used to test current and voltage while isolating measurement and control devices from the main circuit. The instrument transformers market is expanding due to rising electrical consumption.
News Media
Expanding Grid Infrastructure to Propel the Demand for Instrument Transformer
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