Instrument Transformer Market:
The Instrument Transformer Market reports are electrical devices used to change or isolate current or voltage levels with high accuracy, extensively used in AC system to gauge different electrical parameters such as voltage, energy factor, current, and frequency. The rising demand for electricity with a growing concern regarding grid stability abreast a great deal of fund to install transmission and distribution systems to accelerate the market growth.
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The Major Players Covered in this Report: Siemens Energy, ABB Group, Arteche, The General Electric Company, Eaton, Schneider Electric, CG Power and Industrial Solutions Ltd, Bharat Heavy Electricals Limited, TRENCH Group, Mitsubishi Electric Corporation, Toshiba Corporation, Raychem RPG Private Limited, JSHP Transformers, Hyosung Corporation, Crompton Greaves, & more….
Instrument Transformer Market: Segmentation:
By Type: Current Instrument Transformer, Potential Instrument Transformer, Combined Instrument Transformer
By Cooling: Dry, Oil Immersed
By Enclosure Type: Indoor, Outdoor
By Rating: Distribution Voltage, Sub Transmission Voltage, High Voltage Transmission, Extra-High Voltage Transmission
By End-User: Power Utilities, Industries, and OEMs
Years that have been considered for the study of this report are as follows:
- History Year: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Year: 2021 to 2029
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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Instrument Transformer in the APAC Region:
Asia-Pacific region is anticipated to hold the largest market share in the global Instrument Transformer market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Instrument transformers and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Instrument Transformer.
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Renovation & refurbishment of conventional transmission & distribution networks along with the increasing space impediment is expected to boost the indoor instrument transformer industry growth during the forecast period 2019-2029. Amplifying the real estate sector along with ongoing industrialization across the developing energy markets lays the favorable ground for product penetration. Power utilities are further segmented into power distribution and power transmission utilities. Growing industrialization has increased it use in various industries such as automotive, iron & steel, chemical, oil & gas, and others. However, refurbishment of the aging power infrastructure in developed countries is expected to supplement the growth of the product market.
Market Share Analysis:
The instrument transformer market comprises of several players, who dominate at both the regional and country level. Several players that are operating in the instrument transformer market are adopting various strategies, such as a partnership, acquisitions, joint ventures, and establishing new subsidiary companies in unreached countries. Most of the companies are pursuing an acquisition strategy and collaborating with other players for expanding their product portfolio and increasing revenue.
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