DUBLIN--(BUSINESS WIRE)--The "Instrument Transformer Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The instrument transformer market is expected to grow at a CAGR of more than 3.5% during the forecast period of 2020-2025
Factors such as expansion in the transmission and distribution network and growth in the renewable power generation facilities are likely to drive the market. However, delays in power grid expansion projects are expected to hinder the market growth during the forecast period.
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.
A number of governments of both emerging and underdeveloped nations across the world are increasingly focusing on expanding its power grid network towards rural areas. Regions like Africa that have low access to electricity has initiated various road maps to lay down the electricity grid towards its remote places.
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 region. Such a step is likely to create ample opportunity for the instrument transformer companies to expand its business in the near future.
Asia-Pacific is likely to witness significant growth during the forecast period, with the majority of the demand coming from China and India.
Key Market Trends
Power Utility Sector is Likely to Dominate the Market
The power utility is one of the significant segments that utilize instrument transformers to lower the high voltage or current of the primary winding down to typically 120 volt or 5 amperes on the secondary winding so that it can be measured with a voltmeter or ammeter.
Instrument transformers provide electrical isolation in between high voltage power circuit and measuring instruments that reduce the electrical insulation requirement for measuring devices and protective circuits and assures the safety of operators.
Instrument transform in power utility sectors is primarily used in transmission and distribution network, to measure and to have step-down voltage on the end-user sites. Expansion or installation of new transmission and distribution networks indicates a higher installation of instrument transformers.
During 2018, investment for transmission network has increased to around USD 100 billion, from USD 70 billion in 2012. Moreover, with ongoing electrification projects, especially in developing and under-developed nations, it is estimated to have a higher investment in the coming years.
Upcoming transmission projects such as Atlantic Wind Connection is one of the most prominent projects in the world 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 an investment or project is expected to grow the instrument transformer market in the coming years.
Competitive Landscape
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, Arteche Group, PFIFFNER Instrument Transformers Ltd, Crompton Greaves Ltd., Mitsubishi Electric Corporation, Amran Inc, and Instrument Transformers.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Current Transformer
5.1.2 Potential Transformer
5.2 End-User
5.2.1 Power Utilities
5.2.2 Industrial Sector
5.2.3 Others
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ABB Ltd
6.3.2 Siemens AG,
6.3.3 General Electric Company
6.3.4 Schneider Electric SE
6.3.5 Arteche Group
6.3.6 PFIFFNER Instrument Transformers Ltd
6.3.7 Crompton Greaves Ltd
6.3.8 Mitsubishi Electric Corporation
6.3.9 Amran Inc
6.3.10 Instrument Transformers
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/2af9tg
