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Global Instrument Transformer Market Report and Forecast 2023-2028
Market Report I 2023-03-29 I 141 Pages I EMR Inc.
Global Instrument Transformer Market Report and Forecast 2023-2028
Market Outlook
According to the report by Expert Market Research (EMR), the global instrument transformer market attained a value of USD 7481.9 million in 2022. Aided by the increasing demand for electricity and growing investments in power infrastructure worldwide, the market is projected to further grow at a CAGR of 7.1% between 2023 and 2028 to reach a value of USD 11290.55 million by 2028.
Instrument transformers are specialised electrical devices that transform high currents or voltages into lower levels suitable for measurement and control. They are primarily used in power systems for metering, protection, and control applications, ensuring accurate measurements and safe operation.
The growing demand for electricity worldwide is driving the global instrument transformer market growth. With rapid urbanisation and industrialisation, the need for reliable and efficient power supply has increased, leading to significant investments in power generation, transmission, and distribution infrastructure. Instrument transformers play a crucial role in these systems, ensuring accurate measurement and protection of power equipment.
Another key factor propelling the instrument transformer market expansion is the increasing emphasis on renewable energy integration. Governments and organisations across the globe are investing in renewable energy projects to reduce their carbon footprint and ensure energy security. Instrument transformers are essential components in renewable energy systems, facilitating safe and efficient operation of power equipment.
Moreover, the modernisation and upgradation of ageing power infrastructure are further fuelling the growth of the global instrument transformer market. Many developed countries have ageing power infrastructure that requires retrofitting and replacement to ensure reliable power supply and minimise losses. Instrument transformers are essential components in these modernisation projects, enabling accurate measurement and control of power systems.
Furthermore, advancements in technology and the development of smart grids are positively impacting the instrument transformer market size. Smart grids incorporate advanced sensing, communication, and control technologies to optimize the efficiency and reliability of power systems. Instrument transformers are integral to smart grids, providing the necessary data for real-time monitoring and control of power systems.
Market Segmentation
The market can be divided based on type, dielectric medium, voltage, enclosure type, end use, and region.
Market Breakup by Type
- Current Transformers
- Potential Transformers
o Inductive Potential Transformers
o Capacitive Potential Transformers
- Combined Instrument Transformers
Market Breakup by Dielectric Medium
- Liquid Dielectric Instrument Transformers
- SF6 Gas Dielectric Instrument Transformers
- Solid Dielectric Instrument Transformers
Market Breakup by Voltage
- Distribution Voltage
- Sub-Transmission Voltage
- High Voltage Transmission
- Extra High Voltage Transmission
- Ultra-High Voltage Transmission
Market Breakup by Enclosure Type
- Indoor Instrument Transformers
- Outdoor Instrument Transformers
Market Breakup by End Use
- Power Utilities
- Power Generation
- Railways and Metros
- Industries and OEMS
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global instrument transformer companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Mitsubishi Electric Corporation
- CG Power and Industrial Solutions Limited
- Nissin Electric Co., Ltd
- R&S International Holding AG
- Schneider Electric SE
- Arteche Lantegi Elkartea SA
- Siemens Energy AG
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Instrument Transformer Market Analysis
8.1 Key Industry Highlights
8.2 Global Instrument Transformer Historical Market (2018-2022)
8.3 Global Instrument Transformer Market Forecast (2023-2028)
8.4 Global Instrument Transformer Market by Type
8.4.1 Current Transformers
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Potential Transformers
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Potential Transformers by Type
8.4.2.4.1 Inductive Potential Transformers
8.4.2.4.2 Capacitive Potential Transformers
8.4.3 Combined Instrument Transformers
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Instrument Transformer Market by Dielectric Medium
8.5.1 Liquid Dielectric Instrument Transformers
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 SF6 Gas Dielectric Instrument Transformers
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Solid Dielectric Instrument Transformers
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Instrument Transformer Market by Voltage
8.6.1 Distribution Voltage
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Sub-Transmission Voltage
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 High Voltage Transmission
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Extra High Voltage Transmission
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Ultra-High Voltage Transmission
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
8.7 Global Instrument Transformer Market by Enclosure Type
8.7.1 Indoor Instrument Transformers
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Outdoor Instrument Transformers
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.8 Global Instrument Transformer Market by End Use
8.8.1 Power Utilities
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Power Generation
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Railways and Metros
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Industries and OEMS
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.9 Global Instrument Transformer Market by Region
8.9.1 North America
8.9.1.1 Market Share
8.9.1.2 Historical Trend (2018-2022)
8.9.1.3 Forecast Trend (2023-2028)
8.9.2 Europe
8.9.2.1 Market Share
8.9.2.2 Historical Trend (2018-2022)
8.9.2.3 Forecast Trend (2023-2028)
8.9.3 Asia Pacific
8.9.3.1 Market Share
8.9.3.2 Historical Trend (2018-2022)
8.9.3.3 Forecast Trend (2023-2028)
8.9.4 Latin America
8.9.4.1 Market Share
8.9.4.2 Historical Trend (2018-2022)
8.9.4.3 Forecast Trend (2023-2028)
8.9.5 Middle East and Africa
8.9.5.1 Market Share
8.9.5.2 Historical Trend (2018-2022)
8.9.5.3 Forecast Trend (2023-2028)
9 North America Instrument Transformer Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Instrument Transformer Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Instrument Transformer Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Instrument Transformer Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Instrument Transformer Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Iran
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 Turkey
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Egypt
13.5.1 Market Share
13.5.2 Historical Trend (2018-2022)
13.5.3 Forecast Trend (2023-2028)
13.6 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.7 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porters Five Forces Analysis
14.2.1 Suppliers Power
14.2.2 Buyers Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Mitsubishi Electric Corporation
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 CG Power and Industrial Solutions Limited
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Nissin Electric Co., Ltd
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 R&S International Holding AG
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Schneider Electric SE
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Arteche Lantegi Elkartea SA
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Siemens Energy AG
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
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