Instrument Transformer Market Insights

Instrument transformer market is likely to witness an impressive CAGR of 7.9% during the forecast period. The growing demand for instrument transformers is mainly due to rising concerns regarding grid stability and increasing demand for electricity all over the world.

Market Share Analysis

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Instrument Transformer Market Share: By Product Type

Based on the product type, the market is segmented as current and potential. The current segment held the larger share of the market in 2020, and is expected to remain dominant during the forecast period due to its attributes to assimilate large primary current into smaller units.

Instrument Transformer Market Share: By Rating Type

Based on the rating type, the market is segmented as ≤ 250 kV, 251 kV to 500 kV, and > 500 kV. The ≤ 250 kV segment is expected to remain dominant during the forecast period owing to growth of the infrastructure sector and increasing demand for electricity worldwide.

Instrument Transformer Market Share: By Mounting Type

Based on the mounting type, the market is segmented as pad, pole, PC/PCB, and others. The pole segment is expected to remain dominant in the market during the forecast period due to its preferability in the African and Asia-Pacific’s developing markets.

Instrument Transformer Market Share: By Application Type

Based on the application type, the instrument transformer market is segmented as residential & commercial, utility, and industrial. The residential & commercial segment leads the market owing to rapid urbanization in the developing countries and strict regulations regarding upgradation of existing grids to new units in the developed countries.

Instrument Transformer Market Share: By Region

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for instrument transformers during the forecast period, with China, Japan, India, and Australia being the major countries offering lucrative growth opportunities. The growth of the region’s market is owing to rapid urbanization and industrialization in the developing economies of the region, creating huge demand for electricity, which is ultimately boosting the demand for instrument transformers. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Some of the major instrument transformer manufacturers are-

• ABB Group
• Bharat Heavy Electricals Limited
• CG Power and Industrial Solutions Ltd.
• Eaton
• General Electric
• Mitsubishi Electric Corporation
• Raychem RPG Private Limited
• Schneider Electric
• Siemens
• Toshiba Corporation.

Market Scope & Segmentation

Instrument transformers are high accuracy electrical devices that are employed either to transform or to isolate voltage. The major usage of instrument transformers is to safely isolate secondary control circuity from high voltages while operating instruments from high voltage.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The instrument transformer market is segmented into the following categories. 

Instrument Transformer Market Size, Share, & Forecast, by Product Type:

• Current
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Product Type Analysis: Wound and Closed)
• Potential
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Product Type Analysis: Electromagnetic and Capacitor)

Instrument Transformer Market Size, Share, & Forecast, by Winding Type:

• Two winding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Auto-transformer (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Instrument Transformer Market Size, Share, & Forecast, by Installation Type:

• Outdoor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Indoor (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Instrument Transformer Market Size, Share, & Forecast, by Cooling Type:

• Dry Type
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Cooling Type Analysis: Self Air and Air blast)
• Oil Immersed
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Cooling Type Analysis: Self cooled, Water Cooled, Forced Oil, and Others)

Instrument Transformer Market Size, Share, & Forecast, by Insulation Type:

• Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Oil (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Solid (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Air (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Instrument Transformer Market Size, Share, & Forecast, by Phase Type:

• Single Phase (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• 3-phase (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Instrument Transformer Market Size, Share, & Forecast, by Rating Type:

• ≤ 250 kV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• 251 kV to 500 kV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• > 500 kV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Instrument Transformer Market Size, Share, & Forecast, by Mounting Type:

• Pad (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Pole (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PC/PCB (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Instrument Transformer Market Size, Share, & Forecast, by Application Type:

• Residential & Commercial
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Education, Healthcare, Societies, and Others)
• Utility (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Industrial
  • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
  • (Application Type Analysis: Railways, Cement, Power, Oil & gas, and Others)

Instrument Transformer Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.